Trusted Asset Advisor

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Trusted Asset Advisory is the name for a concept of asset advice .

history

It evolved from the banking services Private Banking and Private Wealth Management and is to be understood as their further development. This concept should focus on the trusting relationship between a wealthy private person and their financial advisor as a success factor. The term Trusted Asset Advisor is used in Germany for the first time by Runte, Stadtmüller & Mönkediek GmbH (today "ProVidens Vermögensmanagement GmbH"), which was founded in 2010, three former consultants of Deutsche Bank who specialize in looking after customers with liquid assets specialized in several million euros.

background

In the opinion of the “Trusted Asset Advisor” concept, trust has not yet been adequately valued in the way advisors work. Traditionally, the emotional distance to the customer is seen in the same way as professionalism, business relationships should supposedly be handled rationally, private matters should be separated from professional life. However, decisions are greatly influenced by emotions and not necessarily logic . If the need to understand these emotions is not taken up, the customer feels left alone. If you understand the emotions of the customer, on the other hand, a trust-based customer relationship arises that takes the customer and his wishes seriously. This makes his decisions easier for him, he feels accepted and respected, which creates emotional closeness. The independent work of the consultant, his honesty and the exclusion of conflicts of interest would then create a common interest and mutual trust.

trust

Mutual trust does not replace the professional competence of the advisor, which is indispensable for the investment of assets. He has knowledge and experience that he should put solely at the service of the customer. This also changes the type of contact: The hierarchical relationship between a knowledgeable / informed manager and a little-informed customer is shifted in favor of a personal, cooperative relationship, i.e. H. the expert myth, which causes uncertainty on the part of the customer, is abolished in favor of a relationship of trust. Mutual respect for people and respect for one's own boundaries are an essential part of this approach.

Trusted Asset Advisory now wants to follow the basic understanding of understanding the goals and wishes of the client with a high degree of empathy and acting accordingly. The customer's trust is rewarded and, together with experience, commitment and expertise, creates the basis for developing and reliably implementing the best strategy for the customer.

literature

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