Allianz Bank Financial Advisors S.p.A. is part of the Allianz group, which is Europe’s largest insurance group by capitalization and the second biggest player worldwide, with 75 million customers, 153,000 employees, 97.4 billion euros in earnings and over 1,400 billion euros of AUM. Allianz Bank Financial Advisors S.p.A. has been active on the market since 1970, and has a widespread presence on the ground with more than 2400 Financial Advisors, over 230 financial promotion centers and 15 branches. Financial Advisors (FA) are key figures in the organizational success of Allianz Bank Financial Advisors S.p.A.

The company has invested heavily over the years in selecting and hiring highly professional and experienced Financial Advisors; at the present time, facing the need to oversee an important generational turnover, it has decided to identify potentially successful Financial Advisors in-house. It is against this background that a project called “Profile of the Financial Advisor: competencies and experiences for success” was launched to enable identification of the key competencies for organizational success in Allianz Bank Financial Advisors S.p.A.

The initiative proposed by GIUNTI Psychometrics enabled the following goals to be achieved: to identify the distinctive competencies of successful Financial Advisors, to develop a validated system of competencies customized for the specific context of Allianz Bank Financial Advisors S.p.A., and to highlight the competencies that most closely predict business results.
The project was subdivided into four stages. The first stage involved 4 Critical Incident Technique sessions, a method that, by collecting a set of situations typifying and representative of a specific job position, enables identification of the distinctive behavior enacted to tackle an event and the results achieved. The meetings, which were attended by about 40 Financial Advisors, made it possible to identify the participants’ successful behavioral traits and outstanding experiences from their professional lives. The second stage involved the construction of an Allianz Bank Financial Advisors S.p.A. competencies model, achieved by integrating BFCmap (the GIUNTI Psychometrics competencies model) and the behavior recorded during the critical incident sessions. The third stage involved the administration of a self-assessment questionnaire to a sample of around 300 Financial Advisors, designed to verify whether the competencies and behavior identified in the Critical Incident sessions were actually representative. In the last stage, aimed at validation of the model, factor analyses were conducted to verify whether the behavior traits chosen to describe each competency were mutually relevant and, simultaneously, distinct from those of the other competencies. Finally, an exploration was carried out (using correlations and statistical regressions) of the relationship between competencies and objective achieved results (individual objectives, clients managed, new clients...) to verify whether the competencies hypothesized were actually associated with professional success.

The activity plan enabled the construction of a parsimonious competencies model (5 competencies and 29 behavior traits) - the model that best represents the different dimensions as well as being scientific, valid and customized for the Allianz Bank Financial Advisors S.p.A. context. Important results emerged from the statistical analyses, in particular: significant correlations between competencies and result variables (turnover and clients) and the predictive value of certain competencies (such as realization and networking) in relation to the business indicators analyzed. These results have important implications for the specific context of Allianz Bank Financial Advisors S.p.A. The competencies identified will become an “operational network culture” and will be used as the basis for the assessment of Financial Advisors and the definition of their development plans. The distinctive competencies will be used to improve the quality of the network through consistent selection and training processes.


The Evaluation and Development of Managerial Competencies project exists within a long-standing and well-established collaboration between GIUNTI Psychometrics and Allianz Bank Financial Advisors S.p.A., and provides a clear demonstration of how the company, in a challenging period marked by  changes, has decided to invest strongly in the development of  resources regarded as “crucial” for its growth.
The project had the goal of defining and implementing an assessment program of the entire population of Business Managers and Executive Managers at Allianz Bank Financial Advisors S.p.A., which made it possible to:

  • assess the level of coverage of the manager’s current role, i.e. the competencies actually possessed in relation to the competency models developed by GIUNTI Psychometrics for Allianz Bank;
  • observe the potential for growth in the competencies regarded as strategic at Allianz Bank;
  • build individual development plans based on the actual characteristics of its managers.

The initiative prepared by GIUNTI Psychometrics utilized the Development Centers methodology, an activity designed to develop the company's potential to strengthen the degree of involvement, satisfaction and engagement among staff.

The Development Centers prepared for Allianz Bank Financial Advisors S.p.A. were anchored to scientifically-based tools (some of which totally customized) which, using both self- and hetero-evaluation, provided the participants with important opportunities for reflection and development. The hetero- evaluation elements enabled the recording of personal characteristics by means of external and integrated observation by the assessors. The self-assessment elements, on the other hand, enabled the collection of a set of information on the persons analyzed (their idea of self, their representation of their characteristics, their conviction of possessing certain abilities) that, not being gathered through hetero-evaluation, constituted an essential added value. Self-assessment also enabled the managers being assessed to reflect on their strengths and weaknesses, and helped the assessors to gain a different point of view. The project was subdivided into 3 stages:

The first stage was concerned with the analysis and learning process and was carried out using a battery of tools (selected to be in-line with the culture and distinctive traits of the organizational context) designed to record and measure the individual characteristics, competencies and potential of the population of managers at Allianz Bank Financial Advisors S.p.A.

In the second stage, the managers’ level of coverage of their role and their potential was identified using the Development Center methodology. This part of the project took place over 16 days and involved over 130 Business Managers and Executive Managers.

In the third stage the assessors delivered the individual reports that had been prepared following the Development Centers, with individual feedback interviews that - as well as giving the participants their results - enabled the drawing up of development plans related to the areas for improvement identified during the assessment process. These development plans were shared with Allianz Bank Financial Advisors S.p.A. and were implemented to bridge the gaps identified in role coverage and to develop the unfulfilled potential regarded as strategic for the population of managers.

The results emerging from the project enabled Allianz Bank Financial Advisors S.p.A. to gain an in-depth knowledge of the company’s entire population of Business Managers and Executive Managers. The evaluations of the assessors formed the basis for the planning of all training activities, ensuring that these were totally directed to the real needs of the company’s managers and anchored to validated scientific models.

The project also enabled the managers not only to gain greater self-awareness but also to learn and internalize models, theories and behavior traits in order to boost their strengths and take action on the areas for improvement identified.

In 2003 Giunti Psychometrics expanded its foreign market by founding OS Hungary Tesztfejleszto. The company, based in Budapest, stood up in the sale of educational tests to organizations supported by the Government: educational counseling centers for children, hospitals, clinics, schools, and universities.

Furthermore, the company has won numerous tenders for adaptation to tests supported by the EU.

In the Human Resource area, in addition to governmental organizations, the company supports major companies such as KPMG, DM, Telenor, Agip Hungária, Bristol-Myers Squibb, ALDI, Audi Akademie, and Bombardier Transportation Hungary.