NATIONAL FINANCIAL PARTNERS CORP. 
By Explores Best Practices for Acquiring High Net Worth Corporate and Business Owner Clients
NEW YORK, NY - October 1, 2013 - NFP, a leading provider of benefits, insurance and wealth management services, published today the results of a study on the benefits to financial advisors of providing corporate services and executive benefits as part of their offering to C-suite executives. The study found that advisors are better able to win the trust of executives and the right to manage their personal wealth by extending their value proposition to include the ability to serve corporate and business needs. The study, commissioned by NFP Advisor Services Group and produced by leading independent research firm Aite Group, revealed that advisors who provide corporate services as part of their overall offering are among the most profitable practices.
James Poer, president of NFP Advisor Services Group, said, "C-suite executives and business owners
are looking to financial advisors for more than just personal wealth management. However, most advisors aren't effectively engaging these types of clients or satisfying the breadth of their needs. Through this study, we learned that financial advisors can win the business of this lucrative client and capture more revenue."
Joseph Carpenter, president of NFP Executive Benefits, said, "Many advisors are overlooking a significant opportunity in executive benefits to build the most profitable practices. Employers, large or small, need subject matter experts to help navigate the executive benefit complexities many corporations and business owners are faced with in this ever-changing regulatory and tax environment. Finding an advisor who can help solve these challenges for their clients creates a unique marketplace differentiation that benefits both the client and the advisor well beyond the immediate needs for corporate benefit solutions." The study found that while only 5% of advisors surveyed provide corporate services as part of their standard offerings, potential and current clients quickly recognize the value proposition of a more comprehensive offering. Leading with a discussion of corporate services capabilities, in addition to wealth management, will allow advisors to stand out in their approach to clients who require firm-level
services, such as life insurance, retirement plans, deferred compensation, health care plans, nonqualified plans and key man insurance.
Mr. Poer added, "Building trust with C-suite executives in the management of their corporate and executive benefits plans creates an opportunity to leverage that relationship into a discussion about personal wealth management. Advisors who take this approach differentiate themselves from their competitors and are much more likely to also win the personal wealth management business from this wealthy client segment."
Aite Group's analysis includes key metrics and qualitative feedback from advisors, and shares best practices for acquiring and serving corporate clients in order to earn the trust of executives and, over time, the right to manage their personal wealth. Key conclusions from the study are as follows:
