Financial intermediaries

The team responsible for financial intermediaries offers independent asset managers, fiduciaries and insurance companies comprehensive service and support so that together they can create suitable solutions for the intermediaries and their end clients. At the same time, we are a reliable partner for pension Funds and public institutions when they need asset management and payment services. We are constantly investing in digitalisation projects in order to keep pace with our clients’ requirements. In 2018, numerous additional measures were implemented to increase efficiency in our client relationships.

Expansion of digital client interfaces

On the basis of feedback regularly obtained from clients, we specifically invested in the improvement of digital client interfaces in 2018 and further developed our services. In June 2018, new online banking functions were implemented to simplify the placing of orders and the administration of their portfolios for our professional clients. LLB online banking now offers professional clients the possibility of continuing to retrieve closed accounts and custody accounts for a certain period, and enables them to access various performance contribution reports and extended presentation options.

In 2019, additional, needs-based functions are planned. Financial reporting is to be extended and the administration of forms is to be optimised. Furthermore, sophisticated analysis tools are to be provided and our interfaces for connecting intermediaries’ software applications are to be refined. Improved and more efficient processes should reduce administrative time and effort both for our clients and for our client advisers. Our long-term objective is to make our online banking system even more responsive to the requirements of intermediaries and to create a digital onboarding process for our clients.

Business compliance function

To fulfil a clear client wish we set up a business compliance function in the Financial Intermediaries business area in 2017. When financial intermediaries come to us with complex business cases, a compliance specialist can now be called in to provide an initial assessment of the situation. Consequently, clients are supported through the regulatory requirements and the compliance process right from the start. For them this means added value in the form of the provision of specialist knowledge and a shorter time to market. Financial intermediaries greatly appreciate this service and use it regularly. In addition, the business compliance function carries out our preliminary clarifications for various business cases and therefore helps to quickly identify and address regulatory obstacles.

Lean transformation: more time for clients

The Financial Intermediaries business area has undergone a complete “lean” transformation (see chapter “Corporate Center”). The goal of the process is, by implementing a better workload balance, to free up 15 to 20 per cent more capacity among client advisers and thus gain more time for direct contacts with clients, as well as generating more qualitative advice. For this purpose, among other measures, an assistance pool was set up through which stock market and payment orders are to be centrally and efficiently processed. By taking over around 25’000 stock market orders per year, the pool will relieve our client advisers of a great deal of work pressure. Within the scope of our ongoing improvement system, we shall continue to critically assess and, if necessary, adapt our processes and procedures.

Also within the context of lean management, we organised and held moderated discussions with groups of clients for the first time in 2018. Subsequently, the results of the discussions were systematically evaluated. They showed us where and how we can optimise our services. The various improvements described in the previous paragraphs, especially those implemented in regard to digital client interfaces, were all measures that were derived from these discussions with clients. In future, we intend to hold these client group discussions once a year. In addition, we shall regularly request feedback from clients by means of a standardised questionnaire.