Financial intermediaries and external asset managers

Closeness to clients and focus on clients’ needs distinguishes the LLB Group. This applies in particular to our team of experts who take care of fiduciaries, lawyers and external asset managers in Liechtenstein and Switzerland. In the last three years, it has been shown that financial intermediaries and asset managers prefer medium-size financial institutions, which offer their clients individual solutions and have short decision-making channels.

Genuine continuity

Financial intermediaries and asset managers expect a high level of service quality and knowledge in the provision of investment advice, prompt information on regulatory and investment issues, open and continuous communication and a direct, personal contact partner. In 2014 we continued the intensive advanced training of our experienced client advisers.

Knowledge transfer

The transfer of knowledge and a dense network of external partners are important for intermediaries. Through our “LLB Xpert views” online platform we can make available expert knowledge from the fields of investment, law and taxation to this client group. This information is supplemented by a comprehensive overview of the latest regulatory developments. Our institutional clients make intensive use of transparent, person-to-person dialogue in our round-table discussions and at personal meetings.

Another important issue is the automatic exchange of tax information. As an EEA state, Liechtenstein is among the group of early adopters. On 1 January 2014, a withholding tax treaty came into force between Liechtenstein and Austria which regularises previously undeclared assets. Moreover, the US Foreign Account Tax Compliance Act (FATCA) obligates financial institutions throughout the world to identify their US clients as well as disclosing their assets and earnings to the US authorities (see the chapter “Regulatory framework and developments”).

At the same time, from 2017 the EU Markets in Financial Instruments Directive II (MiFID II) and the planned Swiss financial services law (FIDLEG) will establish the legal framework on how banks and financial intermediaries are to provide cross-border investment services.

With the aim of enhancing our competitiveness and increasing efficiency, we are focusing on preferred partners and their networks. In 2014, in close cooperation with our Group Legal & Compliance Department, we optimised the quality of our client profiles and refined our professional client care as part of our risk management processes.

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