The team responsible for financial intermediaries offers independent asset managers, fiduciaries and insurance companies comprehensive service and care so that together they can create suitable solutions for the intermediaries’ end clients. At the same time, we are a reliable partner for public institutions and pension funds when they need asset management and payment services.
Innovative B2B solutions
With the goal of enhancing competitiveness and improving efficiency, we are focusing on preferred partners and their networks. To strengthen our long-term collaboration with intermediary clients, LLB has offered innovative and exclusive B2B solutions under the label “LLB Xpert Solutions” since 2016.
To enable more time to be gained for clients, in spite of increasing regulatory and administrative demands, the LLB Group has launched a lean initiative (see chapter “Corporate Center”). The Financial Intermediaries Business Area has been involved in the lean management process since September 2017 to gain more time for clients. For this purpose, it is essential that we know the wishes, expectations and ideas of our clients. Accordingly, in 2017 we utilised the “voice-of-customer” (VOC) method to expand our understanding of clients’ requirements.
Within the scope of the VOC analysis we surveyed trust companies and independent asset management companies of various sizes in Liechtenstein and Switzerland. The results of the survey confirmed our assumption that continued and trustworthy communication, LLB investment competence, digitalisation, as well the transfer of knowledge regarding regulatory and investment topics are of central importance.
To further strengthen this transfer of knowledge, at the start of 2017 we set up our own pre-compliance function at the interface to the client advisers. This enables us to pursue our objective of carrying out clarifications quickly and more efficiently so that our client advisers have more time for their clients.
Digital client interfaces
The advance of digitalisation in asset management and trust business is unstoppable. Mounting complexity and stricter demands in the legal and regulatory fields call for an innovative and efficient infrastructure. Digitalisation, standardisation and automation must be interlinked in an optimal manner.
In 2018, we shall make targeted investments in digital interfaces. We shall strive to provide clients with optimum work processes and support them in efficiently processing data.
Certified client advisers
The LLB Group is convinced that success in future will depend on an intelligent combination of human and technological resources. Therefore we are investing in enhancing the knowledge of our employees. In 2017, five client advisers and assistants completed the training programme in accordance with the standards of the Swiss Association for Quality (SAQ). By 2020, all 35 advisers and assistants will have completed the programme (see chapter “Employees”).
Moreover, in 2017, training courses were held on key regulatory issues, e.g. on the implementation of the fourth EU anti-money laundering directive, on the money transfer ordinance in the Liechtenstein Due Diligence Law, on the implementation of the automatic exchange of information in taxation matters, and on the EU MiFID II directive (see chapter “Regulatory framework and developments”).