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STATE STREET : and Wharton Study Encourages Financial Advisors to Consider Role of Lead Advisor to Attract, Retain Mass Affluent Clients

04/12/2011 | 10:10am EDT

State Street Global Advisors (SSgA), the asset management business of State Street Corporation (NYSE: STT) and Knowledge@Wharton, today announced the release of a new primary research report entitled Taking on the Role of Lead Advisor: A Model for Driving Assets, Growth and Retention. The collaborative report, which can be found on SPDR® University (, explores the relationship between investors and financial advisors following the recession, the unintended consequences of using multiple advisors, and the unique opportunities presented to investment professionals who are willing to take on the lead advisor role.

Taking on the Role of the Lead Advisor details the way to structure an advisory business so as to support the lead advisor role through an assessment of best practices among ultra high-net-worth advisors to deliver this role. The report's findings are based on surveys completed by 2,196 financial advisors and 776 investors combined with insights from Wharton faculty, State Street Global Advisors and top wealth managers to ultra-high net-worth investors.

"The role of lead advisor creates a critical competitive advantage at a time when investors are searching for customized financial solutions they can trust," said Anthony Rochte, senior managing director at State Street Global Advisors. "The early movers toward the lead advisor model are positioned to offer a superior level of service that could ultimately lead to a more profitable, rewarding practice."

Key findings from Taking on the Role of the Lead Advisor:

  • Mistrust runs at a high level among investors. Forty-nine percent of investors manage their own investment portfolios, 34 percent work with one advisor and 17 percent work with two or more advisors. Among those who do not use a financial advisor, more than 50 percent do not believe the value that advisors provide is worth the cost. The most cited reason (44 percent) for using two or more advisors is to diversify risk.
  • Investors using more than one advisor may be multiplying risk. Of investors who work with at least two advisors, 65 percent consider one advisor to be their primary advisor. However, more than half (55 percent) of these respondents report their primary advisor is not aware that other advisors are also managing their assets. As a result of this disconnect, investors could be taking on too much - or too little - risk.
  • The absence of a single view of an investor's balance sheet presents an opportunity for advisors. Regardless of asset size, nearly every investor could benefit from the services of a competent lead advisor who integrates financial information across investment advisors, CPAs, estate planning attorneys and business advisors.
  • Scaling the lead advisor model to underserved markets is challenging, but rewarding. Early adopters will have difficulty adapting the lead advisor model to a mass affluent market; however, their first-mover advantage will create a unique value proposition that improves client satisfaction, retention and revenues.

Investment professionals can access Taking on the Role of the Lead Advisor by registering as a financial professional at SPDR University (, an award-winning, free online educational center.

About Knowledge@Wharton

Knowledge@Wharton is a free biweekly online resource that captures knowledge generated at the Wharton School and beyond through such channels as research papers, conferences, speakers, books, and interviews with faculty and other business experts on current business topics. The Knowledge@Wharton network--which includes Chinese, Spanish, Portuguese Indian and Arabic editions--has approximately 1.6 million subscribers worldwide and contains more than 2,000 articles and research papers in its database.

About SPDR University

Brought to you by State Street's family of SPDR ETFs, SPDR University (SPDR U) is a free online education source built exclusively for investment professionals. State Street created SPDR U to meet investment advisors' growing demand for quick "anywhere, anytime" access to high-quality educational content. With tools and information you can put into practice, SPDR U allows investment professionals to earn CE credits on a variety of topics, including: ETF education; portfolio strategies; up-to-date market analysis; actionable investment ideas; and best practices for managing your business. Learn more by going to today.

About State Street Global Advisors

State Street Global Advisors (SSgA) is a global leader in asset management. The firm is relied on by sophisticated investors worldwide for its disciplined investment process, powerful global investment platform and access to every major asset class, capitalization range and style. SSgA is the asset management business of State Street, one of the world's leading providers of financial services to institutional investors.

Important Risk Information:

ETFs trade like stocks, are subject to investment risk, fluctuate in market value and may trade at prices above or below the ETFs net asset value. Brokerage commissions and ETF expenses will reduce returns.

"SPDR" is a registered trademark of Standard & Poor Financial Services LLC ("S&P") and has been licensed for use by State Street Corporation. No financial product offered by State Street Corporation or its affiliates is sponsored, endorsed, sold or promoted by S&P or its Affiliates, and S&P and its affiliates make no representation, warranty or condition regarding the advisability of buying, selling or holding units/shares in such products. Further limitations and important information that could affect investors' rights are described in the prospectus for the applicable product.


River Communications
Troy Mayclim, 914-686-5599

© Business Wire 2011
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P/E ratio 2022 9,15x
Yield 2022 3,31%
Capitalization 26 062 M 26 062 M -
EV / Sales 2022 3,75x
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Ronald Philip O'Hanley Chairman & Chief Executive Officer
Louis D. Maiuri President & Head-Investment Services
Eric W. Aboaf Vice Chairman-Management Board & CFO
Brian Franz Chief Information Officer & Executive VP
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