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LGT awarded top ratings for outstanding advisory and products

November 20, 2013

LGT has again been recognized as one of the leading private banks in German-speaking Europe. The Handelsblatt Elite Report awarded the international Private Banking and Asset Management Group the highest possible rating of "summa cum laude" during its tenth asset management conference in Munich.

At its private banking conference in Berlin, the German test authority Fuchsbriefe ranked LGT among the ten best wealth managers in Europe. The experts were particularly impressed with the quality of LGT’s advisory services, a category in which the bank of the Princely House of Liechtenstein secured first place. This top ratings from independent external institutions confirm LGT’s continued position as one of the leading providers of private banking services worldwide.

Particularly in uncertain times, private investors look for a reliable partner offering long-term stability and security to help them with their financial matters. The crises of recent years have further accentuated this need, with clients losing trust in the financial industry. Independent audit bodies – such as the Handelsblatt Elite Report or Fuchsbriefe, which test the advisory service and product quality offered by international financial institutions on an ongoing basis – provide investors with help and guidance as they try to find the right wealth manager for them.

"The kind of relationship manager that clients want"

The renowned test authority Fuchsbriefe considers LGT to be one of the leading wealth managers in Europe. The bank ranked an outstanding sixth out of the more than 100 institutions surveyed and was rated the best wealth manager in Liechtenstein. The testers felt that LGT conducted the best overall advisory meeting of the year. "From excellent service and an ability to empathize right through to the specific pieces of expert advice provided, the bank of the Princely House put in a truly stellar performance. Precise questions, clear and intelligible responses and a willingness to express an independent opinion – this is the kind of relationship manager that clients want." The Fuchsbriefe verdict: "First-class service and high-quality advisory with the client treated as an equal. On top of that, an illustrative and clearly laid-out proposal that virtually mirrored our client requirements."

"LGT – a rarity in Europe"

In its latest issue, "Die Elite der Vermögensverwalter 2014" (The Elite of Wealth Managers 2014), published in the wake of the test, the Handelsblatt Elite Report also has awarded LGT the highest possible rating of "summa cum laude" for the 11th time in succession. "It is impressive how this bank continues to expand internationally and enjoy success," was the verdict of the Elite Report editorial team on LGT. "Its global reputation is such that it is attracting a significant inflow of new funds from all over the world." Six professional testers and 148 high-net-worth individuals adopted the role of supposed new clients to scrutinize 112 institutions from German-speaking Europe. These had been whittled down from an original longlist of 342. Following extensive analyses – a total of 740 individual assessments were conducted – some 43 institutions emerged as being "worthy of recommendation" in accordance with the Elite Report’s strict quality standards. And LGT was one of these. Among other things, the private bank scored highly in terms of stability and security – the bank of the Princely House of Liechtenstein has a supremely stable ownership structure and an excellent level of capitalization. "LGT is a rarity in Europe, particularly as its home country has neither any sovereign debt nor the euro. This is a financial center that inspires confidence as a refuge from political uncertainty." LGT also impressed the jury with its advisory services, provided by highly qualified employees, and its outstanding products: "Depending on the nature of its client requirements, its level of performance often exceeds that of some long-established asset managers," said Hans-Kaspar von Schönfels, founder and editor-in-chief of the Elite Report. "You would have to place LGT at the very top."

Transparency and continuity foster trust

"We are delighted by the fact that we can also impress independent experts with our quality on a regular basis," said H.S.H. Prince Max von und zu Liechtenstein, CEO of LGT Group. "These recognitions as one of the leading private banks and a top asset manager show that we are doing an excellent job in satisfying investors’ high demands. The excellent inflows of new funds over recent years provide further evidence that our clients are satisfied with our products and that they trust our institution and our relationship managers. The stability we offer is surely a critical factor – not only in terms of the ownership structure and our capitalization, but also the continuity in our core business. For more than ten years now, we have focused on Private Banking and Asset Management. Our clients really appreciate this transparency and long-term orientation."