Expertise. Stability. Reliability. | Banque et Caisse d'Epargne de l'Etat, Luxembourg
8th January 2019

Expertise. Stability. Reliability.

In light of the recent economic environment and the arrival of MiFID II, which further regulates investment advice and portfolio management, clients have become more exacting in terms of financial advice. Claude Hirtzig, Senior Vice President, Head of Private Banking, explains how Spuerkeess has reshaped its offering to provide an optimal framework for clients’ investments.

Needs-focused investment solutions

ActivInvest et ActivInvest⁺
ActivInvest et ActivInvest⁺
ActivInvest and ActivInvest⁺ are our two new investment advisory offerings, aimed at clients who prefer to invest directly in shares and bonds on the one hand, and those who invest exclusively in funds, on the other.
We believe that a significant number of our clients still wish to receive the regular input of an advisor whilst taking personal charge of the final investment decision.
Claude Hirtzig - Senior Vice President, Head of Private Banking

By opting for one of these two advisory offerings clients also cover their day-to-day banking requirements, as all payment-service and account-management aspects are also included.

ActivMandate
ActivMandate
We have also been extensively developing our discretionary management offering, ActivMandate, through which clients can delegate investment of their assets to their banker in order to be free of the day-to-day monitoring of their portfolio. Discretionary investments are naturally made in strict accordance with clients’ chosen investment profile. Clients can notably choose between two fee options, i.e. an all-in offering or a performance-fee related offering.
SelfInvest
SelfInvest
SelfInvest is for clients who want to make their own investment decisions without necessarily opting for an advisory offering. This package gives them access to a plethora of funds at preferential rates and the support of a dedicated relationship manager.
The chief feature of our service is complete transparency. We want clients to fully understand our investment offerings and have faith in our advisors and product range.
Claude Hirtzig - Senior Vice President, Head of Private Banking

360-degree management

The aforementioned offerings have three things in common:

  • a Private Banking offering tailored to the degree of interaction that clients wish to have with their banker;
  • dedicated reporting;
  • transparent financial conditions, allowing clients to measure the final cost of the banking relationship upstream.

In terms of additional services, Spuerkeess provides clients with reports to help with tax returns in Luxembourg and surrounding countries, as well as tax reclaim services for clients wishing to claim back withholding tax on foreign investments. In addition to these financial and tax aspects, Spuerkeess' private banking professionals are also key points of contact for real estate investments and estate planning.

Involving clients for even more transparency

In Private Banking, the digitalisation process took place first and foremost at advisory support, reporting and risk management levels. To address this, we have implemented a new in-house advisory tool, which enables clients, together with their dedicated advisor, to determine their profile interactively and tailor-make their portfolio to match their financial goals and risk profile.

The clients particularly appreciate the visualisation of the development of their portfolio and the possibility to simulate adaptations to then decide their concrete implementation. These simulations can moreover be sent electronically to the S-net platform, in order that the client may make its investment choices even without being physically present with the advisor.

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