Corporate Services Lead to Better Profitability

Advisers who include corporate services and executive benefits as part of their standard offerings to executive-level clients are better able to win the right to also manage those clients’ personal wealth.

NFP Advisor Services Group published a study underlining the positive impact adding comprehensive corporate and executive benefit plan management services can have on a financial adviser’s bottom line. The study shows advisers who provide corporate services consistently rank among the most profitable practices nationally.

A survey from Aite Group of 400 financial advisers found comprehensive corporate services practices win wealth management business from almost 90% of their corporate clients, while firms focusing on wealth management and general retirement plan services secure around 60%.

Practices providing both corporate and wealth management services achieve higher revenues per client and receive more referrals from existing executive clients than those that do not offer both types of services, according to the survey.

The report’s qualitative findings and suggestions for best practices stem from in-depth interviews conducted with a subset of 20 survey respondents to understand the breadth of the services they provide corporations, and how those practices have succeeded in winning business. 

"C-suite executives and business owners are looking to financial advisers for more than just personal wealth management,” James Poer, president of NFP Advisor Services Group, said. “However, most advisers aren't effectively engaging these types of clients or satisfying the breadth of their needs.” The survey found just 5% of advisers currently provide corporate services as part of their standard offerings.

According to Poer, building trust with C-suite executives in the management of their corporate and executive benefits plans creates an opportunity for discussion about personal wealth management, which in turn leads to additional business opportunities.

“Advisers 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," he said.

Complete results of the study and accompanying white paper are available at