- Wealthy clients are becoming more demanding and pose challenges for their service providers
- Elite Report honours 45 asset managers from Germany, Austria, Switzerland and Liechtenstein
- Schoellerbank is in first place again
On 25 November 2015 in Munich, Elite Report selected the elite asset managers in German-speaking countries for the thirteenth time. Among the 362 banks that were tested, only 45 were fully recommended - including six banks from Austria. Schoellerbank received the highest score again, achieving first place for the fourth time in a row.
Choosing the right asset manager is more important than ever during challenging times in the financial markets. Elite Report has been a point of orientation for the industry and its wealthy clients for 13 years now. Independent experts act as test customers in this largest and most comprehensive bank test of its kind. They test hundreds of asset managers in German-speaking countries on issues ranging from initial consultations to investments. The result is a list of the best firms - the so-called "Elite Asset Managers 2016".
"Anyone who wants to be successful has to significantly boost their customer focus. Banks that merely sell financial products cannot keep up here. Comprehensive asset protection and reliability are what counts. Only then comes performance", said Hans-Kaspar von Schönfels, Editor-in-Chief of Elite Report, on the needs of wealthy clients.
Only one in eight asset managers is recommended
Asset managers are evaluated according to 43 parameters. Among the 362 banks tested, some did not go beyond the mere sale of financial products. So in the first stage, the field of participants was reduced to 304, and after further tests to 134. Of these, only 45 asset managers made it into the elite ranking. This means that only one in eight banks is recommended without reservation. "This is actually a sad result because it shows that trusted asset managers are in the minority. But the elite still win through", said Hans-Kaspar von Schönfels.
Eight banks took first place with the same score
The ranking pyramid is structured according to the grades "cum laude", "magna cum laude" and "summa cum laude", which are based on points. The very top, where Schoellerbank has been now for the fourth year in a row, is shared by only eight banks with the highest scores from the original field of 362 tested asset managers.
Elite Report 2016 profile of Schoellerbank
"Exemplary quality, customers and success are the most important features: this asset manager occupies a well-deserved top spot in German-speaking countries. Schoellerbank has always succeeded in staying a step ahead through its continuous processes of improvement. Whether achieving compelling results with intelligent allocations or clearly presenting conceptually important information during preliminary discussions with customers, everything takes place in a very warm and personal atmosphere. And no area of consulting is terra incognita. Commitment to clients is not about hollow advertising messages but about providing orientation and reliable performance. We were very impressed that experts voluntarily analysed securities account records and income statements to search for errors. And whenever critical minds encountered good service, there was appreciative praise for competitors too. That is fairness! The constant influx of new customers is evidence of the real impact of this service. This fine private bank is not only a model for Austrians, and of course other high-net-worth individuals in neighbouring countries, but is also a trend setter. And others will likely be happy to follow them across the border too."
The Elite Report at a glance
The annual "Elite Report" is published under the title "Elite Asset Managers in German-speaking Countries 2016" in cooperation with business newspaper "Handelsblatt". It provides details of the tests, participants and profiles of the most reliable asset managers in German-speaking countries, as well as giving numerous contributions as a valuable guide and advising on the topic of wealth and its management. More information can be found at www.elitereport.de.