Advisory and Client Care

Expansion of client relationship management

Client relationship management (CRM) is a cornerstone of our comprehensive client care and service concept. Its aim is to enable business relationships to be built up systematically, for the long term and, above all, in a manner that adds value. The CRM data are continually checked and measures to improve the quality of our advisory services are implemented.

Feedback management represents a key integral part of the CRM. This enables client satisfaction to be systematically measured, and then increased by integrating the requested suggestions and improvements in the system. In line with our advisory philosophy of «Personal banking in perfection», we intend to develop and refine the system to enhance client care and service. Corresponding measures are planned for the second half of 2010.

The four advisory steps

The four advisory steps (chart)

Client satisfaction confirmed

The LLB Group carries out client surveys at regular intervals. The last survey held in 2008 confirmed the high level of satisfaction among our clients in Liechtenstein and in Switzerland (see the «Annual Report 2008»).

Nevertheless, we strive constantly to improve our client services. All our employees having contact with clients receive a new form of holistic client service training. Furthermore, the ongoing implementation of these advisory guidelines is an integral part of the employee's annual performance appraisal.

Our advisory process comprises four phases: analysis, concept, realisation and care. It permits us to provide all our clients with high-quality, systematic care and service. The detailed steps, such as the advisory intervals, are specified on the basis of the respective client segment.

Individual investment proposal

The individual investment proposal we submit to clients is like our business card, and reflects our competences in private banking and asset management. In line with this concept, we have improved the structure of our existing proposal and simplified its layout.

Our experience shows that investors' requirements are generally focused on the risk/return profile. We can offer this profile to clients in a risk-controlled and optimised manner. Our investment proposal is based on a systematic top/down approach. In a first step, our analysts study the world economy, they then search for the best sectors and regions, before finally selecting the most promising individual securities and products from these segments. As part of the process, we subject the individual investment proposal to a stress test to ensure that the specified risk parameters are not infringed.

A competition comparison has shown that our specific LLB solution is one of the best. In fact, we provide substantially more detail, a clearer layout and better stress test results than several well-known competitors.

A new tool for preparing individual investment proposals is to be introduced at LLB Switzerland and LLB Austria in 2010.

Awards for client advisory services

The improvement of our investment proposal and the introduction of our new holistic advisory process have already borne fruit. The experts at «Fuchsbriefe» have praised the high quality of our client advisory service. This prestigious publishing house ranked us among the 20 best asset managers in the German-speaking region in 2009. Particular mention was made of our structured advisory process, the good advice itself, the good overall solution proposal and the comprehensible information (for further information, see «The brand Liechtensteinische Landesbank», and «International Market»).

Transparent performance measurement

Our clients are informed regularly about the performance of their portfolios in detailed reports. We openly present the most important criteria for performance measurement, and were in fact the first Liechtenstein financial institution to introduce Global Investment Performance Standards (GIPS) for both private and institutional asset management. Among other things, these quality standards regulate the calculation and reporting of the respective figures.