Caixabank's independent advisory service has grown by 56% in 2021, increasing its assets by 6,000 million euros, reaching 16,870 million managed in independent advice. This translates into 2,000 clients with a signed independent consulting contract, growing by more than 600 family groups in the past year.
In order to guarantee a service of the highest quality, this service currently has a team of 80 managers and portfolios with a maximum of 35 clients per manager. In addition, it has the support of 20 specialists who are solely responsible for offering direct advice to clients on tax matters, alternative assets, personalized portfolio management, philanthropy, and art or real estate issues, among others.
The value of independent advice
CaixaBank Wealth was created three years ago to provide specialized attention to banking customers and maximize their wealth with new investment strategies, being the pioneer independent advisory service in Spanish banking.
Professional advice is designed to offer the investment strategy that best suits each moment and in accordance with the client's profitability, risk, term, and liquidity objectives.
This unit specialized in wealth management, supported by the MIFID II regulation, is made up of managers with extensive experience and knowledge of the market in all its areas. Each Wealth manager, together with the team of specialists for the different assets, is in charge of designing the investment strategy that best suits each moment and is in accordance with the client's objectives. And all this is within the framework of an independent advisory contract, which guarantees the total alignment of interests with the client and the impossibility of charging incentives by the entity.
An efficient cost structure
CaixaBank Wealth has the maximum transparency in costs through the explicit charge for the advisory service and processes that ensure the best alternatives on the market so that the client can know in advance the associated cost.
This service makes the most extensive range of products and services available to the client, with access to products, exclusive price conditions, passive management, illiquid assets, classes without marketing commission in the different financial instruments, and personalized discretionary portfolio management.
CaixaBank Wealth is integrated into the Private Banking area of Caixabank
The unit, whose head is Iker Berasategui since September 2019, reports directly to the private banking area, led by VÃctor Allende. With this independent advisory model, it is consolidating itself as the global wealth advisor for clients in this business.
The department is integrated into the Caixabank Private Banking area, which comprises a thousand specialized professionals in 73 centers throughout Spain. After the merger with Bankia, the number of customers has increased to 128,000, while the portfolio of assets under management is valued at 123,000 million euros.
With the aim of offering the best customer experience at any time and place, the Private Banking business focuses its strategy on the high qualification, commitment, and talent of the entity's managers, and on the latest technological advances.
