The banks participating in this study aim to add value to UVV and differentiate themselves from competitors by providing UVV with the most relevant and valuable services, customized to UVV's needs.
The UVV evaluates its custodian bank as well as other 17 valuable services, which the UVV assesses and comments on according to personal benefit. On the one hand, the study allows the participating banks to determine their position, analyze strengths and weaknesses, and compare the needs of their own UVV with the needs of external UVV. The bank can see at a glance with which services the benefit for the UVV can best be optimized, respectively which goals can be achieved with it, and can reliably set the priorities for further projects for optimization based on this study.
With more than 75 UVV, the
target group includes 1
High
With less than 75 UVV belong to target group 2
Medium
Banks without UVV desk
No
With more than 75 UVV, the
target group includes2
Medium
With less than 75 UVV, the
target group includes3
Low
Banks without UVV desk
No
Do not belong to the target group of this study.
No
Do not belong to the target group of this study.
No
Banks without UVV desk
No
Which services and services really add value for the asset manager?
Completely new services that were not part of the traditional UVV business and not even a focus could potentially help achieve the desired goals. Brainstorming with the bank and UVV will provide more clarity on which needs and functions are prioritized.
Please click on the IGUV icon to learn more about the functions.
The UVV would like to create an investment proposal for its potential client that is as professional as possible and suitable according to the risk profile with little effort. If the UVV already collects the personal data and the risk profile of the potential customer, then the opening documents should also be created on this basis.
Why send customer documents by mail when the bank offers its own cloud server for exactly this purpose? The signed documents can be edited and commented on by the compliance department and the UVV in a protected way. The status of each document and client is always visible to the UVV and the bank in the system. The asset manager no longer waits for a response from the compliance department, but can check the current status in the system himself. Pending issues can be scheduled. The UVV can decide whether the client may also access his documents or not. This service is already available and can be installed immediately on a server or cloud of the bank. This reduces the onboarding process by several days. Documents are no longer lost in the mail, incomplete dossiers are never submitted.
In addition to a corresponding directive, every UVV that looks after clients abroad also needs a mandatory country manual for each country. Instead of all asset managers purchasing the same country manual individually, the bank provides these to its asset managers and ensures that they are regularly updated and that they may be officially used by the UVV. The asset manager can participate in the bank's internal country-specific training and become certified in the same way as the bank employee.
CRM systems enable the output of documents, letter and e-mail templates. This includes, for example, simple personalized newsletters or even complex contracts whose contents are automatically filled from the CRM system. Simplification of administration and correspondence.
What should the CRM be able to be used for, what is the goal?
- E-mail campaigns
- serial letters
- standardized letters, for example invoices, dispatch of quarterly statements
- address labels
- connection to Outlook
- statistical evaluations
UVV would like to provide its customer with its own securities account statement. The bank's securities account statement with the logo and in the CI colors of UVV. This securities account statement should be available for download after 30 minutes at the latest.
The Bank makes all contract documents available for download in a central location accessible to each UVV. All documents are updated by the bank. The UVV can be sure that he always uses a complete and up-to-date document setup for his onboarding.
Each month or quarter, UVV must calculate portfolio management fees. Instead of the UVV calculating these, the bank can provide these calculations using its own system. Based on performance and asset data, taking into account cash flows, the system can also automatically calculate complex fee models with high watermark, hurdle, etc., and do this work for the UVV. The bank provides the UVV with the calculation bases in such a way that the UVV only has to accept and the charge is initiated.
In the bank's portfolio statement, various analysis key figures can be selected and displayed on request, such as analyst opinion rating, trends, P/E ratio, book value, risk key figures, ESG rating, beta, correlation, dividend yield, etc., as well as key figures and charts for the portfolio, such as share ratio, max. Drawdown, correlation to a benchmark, volatility, alpha etc.
The UVV sends the bank a copy of the ID together with the contact details, as a scan e-mail or via the bank app. The bank prepares the necessary opening documents and makes them available as a PDF download. The UVV completes the missing information manually in conversation with the customer. Or the bank offers a tool that greatly simplifies the creation of the necessary documents.
For protected communication with the customer and/or the bank, UVV would like a bank-owned app. Email is replaced and simplified by this app. All correspondence between UVV and UVV desk remains in a stream that can be tracked at any time. The same between UVV and the customer. In the app, the customer can also place orders or have UVV confirm orders from the customer and forward them directly to the bank in the chat.
The customer can sign all documents online within a few minutes and then carry out FINMA-compliant identification via the bank app. There is no need for paper correspondence, a personal visit, or notarization.
Optimization of withholding tax refund procedures. The bank or a cooperation partner of the bank takes care of all administrative tasks for the release of withholding tax refunds and provides the necessary supporting documents for the reclaim.
Various providers offer UVVs the opportunity to calculate and launch their own structured products online. The effort required to enter such products on the various platforms is great. Instead, the UVV can simply enter his trading idea and the planned volume in the bank's Struki tool, and the request is sent to the various providers. The offers from the providers are then automatically forwarded to the UVV. Depending on the bank, it can also submit an offer itself.
The UVV with CH customers should be able to see at a glance in the bank's system which customers have already ordered a tax statement for the current year and which customers have a standing order for the preparation of a tax statement. The UVV should be able to enter, change or even delete this order in the system.
A forum specifically for exchanges among UVVs and the Bank's trading desk. The forum is moderated by the bank. The UVV has an avatar to anonymously post trading ideas or ask for them. Depending on the number of messages, different categories are formed in the forum, which can then be subscribed to individually.
Assumption: Interview with 100 UVV and 10 banks.
In order to ensure that we can consider 10 UVV per bank, the bank should invite a larger number of UVV to participate. Otherwise, the project may drag on too long due to scheduling constraints. According to the first come, first served principle, the UVVs will be interviewed that accept the invitation the quickest.
If a bank requests more than 10 interviews with its own UVVs, then an additional CHF 190 will be charged per interview.
Benefits for the bank. Based on this data, the bank can make further decisions and considerations as to whether or not the planned tool box might be of interest to the UVV. Based on the information obtained, the bank should also be able to define the requirements for the tool box. For example, what functions should the tool box include, and what benefits can be expected from it.
Even if the bank concludes that participation is not an option, it will be better able to address isolated previously hidden needs of its UVVs and gain value from the study.
Among other things, the study aims to increase profitability, retention at UVV, and new money inflow. To achieve these goals, it is beneficial to have a neutral third party uncover existing problems.
Timing. As soon as 10 banks have signed up to participate in this study, we will start the project. However, if we do not have 10 banks by the end of January 2023, but at least 5, we will consult with them about how to proceed.
With an expected start at the end of January 2023, we will be able to present the results at the end of May 2023.
What comes next? After we have analyzed and evaluated the results of the surveys, we already know whether an UVV Tool Box makes sense or not. If we come to the conclusion that we will pursue and realize this project, we will discuss the results and possibilities with the relevant banks.
Goal of the tool box. A tool that is as useful as possible for all banks and their UVV and can be used universally. IGUV will support the bank in the implementation and evaluation.