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Deutsche Asset & Wealth Management Next Generation – In the context of international Wealth Management Tradition me PowerPoint Presentation
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Deutsche Asset & Wealth Management Next Generation – In the context of international Wealth Management Tradition me

Deutsche Asset & Wealth Management Next Generation – In the context of international Wealth Management Tradition me

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Deutsche Asset & Wealth Management Next Generation – In the context of international Wealth Management Tradition me

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  1. Deutsche Asset & Wealth ManagementNext Generation – In the context of international Wealth Management Tradition meets Modernity David Kroell, International Family Office Services Tel Aviv 10th June, 2014

  2. Deutsche Asset & Wealth ManagementDeutsche Bank’s History of Family Office Services 1988 1990 1999 2005 2011 2013 Creation of Deutsche OppenheimFamily Office AGby merger of Wilhelm von Finck Deutsche Family Office AG and OppenheimVermögenstreuhand GmbH Creation of Wilhelm von Finck Deutsche Family Office AG by merger of Wilhelm von Finck AG and Deutsche Family Office GmbH Foundation of OppenheimVermögens-treuhand GmbHinCologne byformer partners of Sal. Oppenheim Foundation of Deutsche Family Office GmbH in Frankfurt am Main by Deutsche Bank Acquisition of Wilhelm von Finck AG by Deutsche Bank Foundationof Wilhelm von Finck AG in Munich by Wilhelm von Fincksen. and Wilhelm von Finck jun. Deutsche Bank 5 Strategic Pillars Private & Business Clients Corporate Banking & Securities Deutsche Asset &WealthManagement Global Transaction Banking Non-Core Operations Going international: creation of International Family Office Services (IFOS) Deutsche Asset & Wealth Management 2

  3. International Family Office ServicesA Full Range of Solutions – Next Generation Tailored investment strategy Client’s personal situation and objectives Client Monitoring and review Note: The services described are provided by Deutsche Bank AG or by its subsidiaries and/or affiliates in accordance with appropriate local legislation and regulation. Certain products and services may not be available in all locations or to all Deutsche Bank Wealth Management clients. Deutsche Asset & Wealth Management

  4. Prediction 2030Whatcanbeexpected? Forecast Inherited Assets from 2011 until 2020 (Germany) in bn. Euro • The volume of inheritances worldwide is constantly rising - a trend that will continue • Substantial amounts of money in the coming years will be inherited to the next generation • While the transfer of assets from the older generation to the Baby Boomers takes place, in the coming years a gigantic wave of private assets will be inherited to the younger generations (NextGen) • These younger generations are referred to as Generation X and Y • The estimates are € 2.6 trillion by 2020 for Germany and USD 30 trillion by 2040 for the USA • Inheritance within a Generation • Inheritance over Generations • Bankable Assets Real Estate Tangible Assets Cp. Deutsches Institut für Altersvorsorge: Erben in Deutschland, Köln 2011 Wealth Managers can position themselves in an attractive market and benefit if they combine their traditional values ​​with new customer requirements Existingcustomerrelationshipsendangered AcceleratedlossofAssets Changing Customer Needs • Twofold Challenge: • Retain loyalty of existing customers • Continue development of an attractive value proposition for NextGen • New preference structure and behavioral patterns of customers • Riskto not adequatelyaddresscustomers • On average 70% of private bankingcustomersareover 50 years.2 • In 40% of the cases, the next generation of the current customer is not known 1Cp. Accenture, The “Greater“ Wealth Transfer Capitalizing on the Intergenerational Shift in Wealth, 2012 2 Cp. Cocca, T.D., ExternalAssets Managers, Studie Zürich, 2011, unveröffentlicht

  5. Who exactly is the Next Generation (“NextGen”)?Characteristics • As term for the future client-generation in private banking the so-called Generation X can be used • In addition, Generation Y is included to account for possible additional scenarios Generation X (30 – 45 years) Generation Y (15 – 30 years) • Independent and autonomous • Self-representation is important • Growing need to be accepted by comrades and network with them • Individualistic and independent • “Work-Life-balance” is important • Self-determination is important • Conservative and prudent handling of money Life Style • Willingness and eager to learn new things • Merging the boundaries between education and entertainment • Advice from friends and relatives has a higher value than an expert consultation1 • Better education than Baby-Boomers • General financial knowledge • Critical attitude towards banks • Strongly affected by the 2007 financial crisis Financial Eductaion • Producers, distributors and consumers of content • Recommended products are preferred • Higher reliance on information from neew media • Insignificant customer retention force to bank brands • Low loyalty towards brands • Pronounced affinity for new technologies • Multi-bank relationships and frequent change of bank Consumer behaviour 1 Vgl. Williams K.C./Page , R.A.; Marketing to the Generations, Journal of Behavioral Studies in Business, Volume 3, April 2011, S.9

  6. Facts and Figures …..….. to the use of social media by NextGen customers 1 52% of Twitter- and Facebook users are over 35 years old. The use in the age class 50-56 years has gone from 9% to 20% in the last 3 years 2 • 70% of the millionaires in the USA use Social Media On average a wealthy person in the USA is member of 2,8 Social Networks with an average of 110 contacts 3 • 47% of the UHNW individuals in Europe use Facebook 4 • Already today 20% of the age class 60 -69 years can not imagine their life without Social Networks 5 • More than 50% of the UHNW individuals in Europe recognize Social Media as most important channel of communication with their bank. 6

  7. Change is nothing new to Wealth Management…..….. but it’s coming faster and with more fury “Banking is essential. Banks are not.” Bill Gates

  8. Requirements for Next Gen Wealth Management (1/2)10 Imperatives • Interact virtually! 1 • Give me power! 2 • Giveme a sense! 3 • Network me! 4 • Emotionalise me! 5

  9. Requirements for Next Gen Wealth Management (2/2)10 Imperatives • Respect me! 6 • Inspire me! 7 • Open yourselfup! 8 • Convince yourself! 9 • Re-invent yourself! 10

  10. Structure of the future Wealth-Management industryPossible scenarios for 2030 • Szenario 1 • I-Bank Potential ofoccurenceofthe relevant Scenario Potential for change for Wealth Mangers • Szenario 2 • Evolution oftheestablished Banks • Szenario 3 • Apple / Facebook-Bank (iWealth) • Szenario 4 • It‘s all an Illusion Cp. Cocca, T.D., Private Banking 2030, März 2014 , S. 16-18

  11. What is “DB Next Generation”? • We anticipate the changed trends and needs of the upcoming entrepreneurial generation • We provide inspiring ideas and agile strategies for long-term partnerships • “Connecting and empowering the entrepreneurs of tomorrow in today’s world of finance” • As their global partner, we encourage and accompany the interdisciplinary and intercultural dialogue within this exclusive target group of tomorrow’s key clients and get in constant touch with them at an early stage of their lifecycle. Deutsche Asset & Wealth Management

  12. International Family Office Next GenerationOur gateway for Next Generation clients Under our initiative “Next Generation SUCCESSION”, Deutsche Asset & Wealth Management is offering a universe of dedicated educationalprograms bringing together: • founders, representatives and heirs of the most influential entrepreneurial families as well as young successful entrepreneurs from all over the world. Next Generation SUCCESS I O N I nformation Expertise O rientation Education / Knowledge Transfer N etwork Global Network Deutsche Asset & Wealth Management

  13. Important Information Deutsche Asset & Wealth Management offers wealth management solutions for wealthy individuals, their families and select institutions worldwide. Deutsche Asset & Wealth Management, through Deutsche Bank AG, its affiliated companies and its officers and employees (collectively “Deutsche Bank”) are communicating this document in good faith and on the following basis. This document is for information purposes only and is not intended to be an offer or solicitation, or the basis for any contract to purchase or sell any security, or other instrument, or for Deutsche Bank to enter into or arrange any type of transaction as a consequence of any information contained herein. It has been prepared without consideration of the investment needs, objectives or financial circumstances of any investor. This document does not identify all the risks (direct and indirect) or other considerations which might be material to you when entering into a transaction. Before making an investment decision, investors need to consider, with or without the assistance of an investment adviser, whether the investments and strategies described or provided by Deutsche Bank, are appropriate, in light of their particular investment needs, objectives and financial circumstances. We assume no responsibility to advise the recipients of this document with regard to changes in our views. Deutsche Bank does not give taxation or legal advice. Investors should seek advice from their own taxation agents and lawyers, in considering investments and strategies suggested by Deutsche Bank. Where applicable, the terms of any investment will be exclusively subject to the detailed provisions, including risk considerations, contained in the Offering Documents. When making an investment decision, you should rely on the final documentation relating to the investment and not the summary contained in this document. Further information is available upon investor's request. Although information in this document has been obtained from sources believed to be reliable, we do not guarantee its accuracy, completeness or fairness, and it should not be relied upon as such. All opinions and estimates herein, including forecast returns, reflect our judgement on the date of this report, are subject to change without notice and involve a number of assumptions which may not prove valid. Further, investment in international markets can be affected by a host of factors, including political or social conditions, diplomatic relations, limitations or removal of funds or assets or imposition of (or change in) exchange control or tax regulations in such markets. Additionally, investments denominated in an alternative currency will be subject to currency risk, changes in exchange rates which may have an adverse effect on the value, price or income of the investment. Past performance is no guarantee of future results. Nothing contained herein shall constitute any representation or warranty as to future performance. The products mentioned in this document are subject to investment risk including market fluctuations, regulatory change, counterparty risk, possible delays in repayment and loss of income and principal invested. The value of an investment can fall as well as rise and you might not get back the amount originally invested at any point in time. No assurance can be given that any investment described herein would yield favorable investment results or that the investment objectives will be achieved. In general, the securities and financial instruments presented herein are not insured by the Federal Deposit Insurance Corporation ("FDIC"), and are not guaranteed by or obligations of Deutsche Bank AG or its affiliates. We or our affiliates or persons associated with us may act upon or use material in this report prior to publication. DB may engage in transactions in a manner inconsistent with the views discussed herein. Opinions expressed herein may differ from the opinions expressed by departments or other divisions or affiliates of Deutsche Bank. This document contains forward looking statements. Forward looking statements include, but are not limited to assumptions, estimates, projections, opinions, models and hypothetical performance analysis. The forward looking statements expressed constitute the author’s judgement as of the date of this material. Forward looking statements involve significant elements of subjective judgements and analyses and changes thereto and/or consideration of different or additional factors could have a material impact on the results indicated. Therefore, actual results may vary, perhaps materially, from the results contained herein. No representation or warranty is made by Deutsche Bank as to the reasonableness or completeness of such forward looking statements or to any other financial information contained in this document.