BhFS (Behavioural Finance Solutions GmBH) is an established authority in the field of behavioural finance research and solutions. A spin-off company of the the Universities of St. Gallen and Zurich since 2007, BhFS is helmed by Professors Enrico De Giorgi and Thorsten Hens, both of whom are highly cited in research contributing to behavioural finance.

Grounded in scientific foundation, BhFS provides banks, financial advisers, asset managers and insurance companies the edge to evolve rapidly from product to client centricity. Client centricity is a critical source of competitiveness in today’s world which is pressured by product margins and spoilt for choices.

Together with 360F, BhFS develops solutions that raise the overall client centricity quotient. Institutions are enabled to understand their clients so reliably well that products and services can be genuinely personalized. The solutions not only profile clients’ needs, preferences and decision-making process but also improve their awareness of the proposed investment or protection solutions.

Designed for modular implementation, BhFS-360F solutions form an engaging and adaptive investment management process in six steps:

(1) Assess clients’ needs and motivations, including their investment goals

(2) Determine risk capability through personalized asset-liability management

(3) Measure risk tolerance through an interactive assessment based on game dynamics and a scientifically-founded behavioural utility model

(4) Improve risk awareness through experience sampling and give actionable feedback to clients

(5) Predict intrinsic investment styles and value-based product preferences

(6) Monitor the effectiveness of the recommended investment strategy with respect to the overall client profile

Each step is founded on experimental research in decision-making and quantitative research providing a solid theoretical foundation. It has proven to go a long way to safeguard product suitability and elevate clients’ long-term commitment to their eventual portfolios and the financial institutions. To know more about BhFS and products, please visit or contact us at:

BhFS Behavioural Finance Solutions GmbH
Plattenstrasse 32
8032 Zürich
Phone +41 71 224 24 30 Email