Financial clarity is closely linked to personal well-being. This is demonstrated by a representative study conducted by Bank Cler in collaboration with the ZHAW School of Management and Law, which examines the relationship between financial clarity and well-being in Switzerland. In a joint project with the two partners and based on the study’s findings, G+D Netcetera is developing a behavior-oriented tool designed to help customers measure their financial well-being holistically and make targeted changes to it
The goal of the project is to empower people in Switzerland to better understand their financial situation and strengthen it in a sustainable way. The project examines which factors influence financial well-being (FWB), where individual risks lie, and how FWB can be specifically improved.
The research is based on two key principles that make this approach unique in the Swiss market to date:
Holistic Diagnostic Approach
For the first time, objective metrics (e.g., income, expenses) are combined with subjective assessments (e.g., sense of security, satisfaction). This combination enables a precise, personalized assessment of one’s current situation and lays the foundation for tailored support – exactly where it is truly needed.
Behavior-Oriented Approach Rather Than Merely Conveying Information
Instead of merely imparting knowledge, the approach analyzes why desired behaviors have not (yet) been implemented. Based on this analysis, concrete recommendations for action that are suitable for everyday life are developed.
The Financial Navigator tool is being developed in partnership with ZHAW and Bank Cler. Innosuisse, the Swiss Innovation Agency of the Swiss Confederation, is sponsoring the scientific component. G+D Netcetera is handling the technical implementation of the new module. As an application partner, Bank Cler ensures that the developed tool can be piloted in a real-world advisory context and tested for customer benefit.
The tool is based on established models from health behavior research, which are to be adapted specifically for the financial sector. The goal is to promote a change process tailored to each user’s individual needs to increase financial well-being by specifically addressing behavioral barriers and needs.
We are very excited to be part of this exciting project and to create a solution that is not based solely on numbers but also takes the emotional component into account. With the Financial Navigator tool, we want to understand how people’s financial situations in Switzerland affect them, how they feel about them, and, last but not least, how they can improve them and thereby achieve greater financial well-being."
Pascal Meier, Senior Product Manager Digital Wealth, G+D Netcetera
Although 84% of respondents have a good grasp of their day-to-day finances, only 57% know exactly where they stand when it comes to retirement planning. The gap is particularly wide among 18- to 34-year-olds and 50- to 64-year-olds, for whom targeted retirement planning is especially important. At the same time, 41% of respondents feel anxious when thinking about their financial situation, and 35% find conversations about money stressful.
People with higher financial well-being also take a more active approach to their finances: they review their expenses more often, save more regularly, and contribute more frequently to Pillar 3a or 3b accounts.
(Source of chart: ZHAW School of Management & Law and Bank Cler)
Digital services such as online banking and mobile apps help people keep track of their finances, but according to the respondents, they do not replace in-person advice – people who have a dedicated financial advisor are significantly more likely to have financial clarity.
The study therefore concludes that clear advice, open communication, and proactive financial behavior are key factors in creating greater financial clarity – and thus greater well-being – especially when it comes to retirement planning.
Innosuisse project in collaboration with Bank Cler and ZHAW School of Management and Law. Financial Navigator tool makes it possible to measure financial well-being holistically and make targeted changes.
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