Facts & Figures

Few companies can match the achievement of Deutsche Vermögensberatung (DVAG) in terms of starting its 50th anniversary year by setting new standards and achieving record results across almost all areas.

This alone highlights the fact that 2024 was not only an exceptionally successful year, but also the year in which revenues more than doubled since Andreas Pohl took over as CEO of the company 10 years ago. This is impressive proof once again that our business model is sustainable in the long term and that the family-owned business is better prepared for the future than ever before.

Agile and always proposing the right offering

Our financial advisors are the face of our success. They are the ones who make the company what it is, who are with their clients day after day and whose individual successes add up to the company's overall success. A key factor for success in 2024 was once again that they were able to respond to every market situation, thanks to their extensive qualifications, and were always able to suggest the right solution. Whether this was due to the continuing geopolitical tensions in 2024, inflation, which initially rose but then fell, bringing corresponding interest rate fluctuations, a stock market in high spirits or social security systems coming under increasing pressure – financial advisors were and are always in demand. It is precisely in turbulent times like these that people struggle to correctly assess the implications of financial decisions. Good advice is therefore in greater demand than it has ever been.

This means that now, more than ever, we are looking for reinforcements and are doing everything we can to interest people in becoming financial advisors. The career prospects and income opportunities involved in this profession are excellent. And Deutsche Vermögensberatung (DVAG) is number one when it comes to providing the best support for a professional career. In 2024 alone, over 1,500 new financial advisors were recruited, and they are now being carefully prepared for their demanding advisory work through the company's proven on-the-job training programmes, together with the 549 management teams that already exist.

In terms of sales revenue, the company broke a new record by bringing in €2.5 billion. This was the ninth record result the company achieved in the last 10 years. The net profit for the year during this period was €352.8 million. This makes it possible to further strengthen our equity as a financial basis. In its 50th year, Deutsche Vermögensberatung (DVAG) can thus look ahead with confidence together with its financial advisors.

Allfinanz and Deutsche Vermögensberatung

Performance-orientated, human and strong – these values characterise our company culture and its professional community. They guide how we work together and every financial advisor upholds them. Deutsche Vermögensberatung (DVAG) is a family-owned company through and through. This includes every financial advisor at DVAG, Allfinanz and our subsidiaries in Austria and Switzerland. Together they have contributed to the successes achieved in 2024. An essential factor here is that our financial advisors allow their colleagues to share in their recipes for success. The success of the individual thus becomes the success of the many.

'Riester' state-subsidised private pension plan – back to the future

The company can look ahead with confidence to the market opportunities for private retirement provision. For three years, it was not possible to offer people a Riester pension because interest rates were too low. This was particularly disadvantageous for people with lower incomes and with children, because there was no alternative for them. Since 29 November 2024, the day of certification, the product is now available again because interest rates have risen in the meantime. The huge demand for this type of pension has been demonstrated by the few weeks left at the end of the year, during which over 10,000 new plans were brokered. In addition to all other established retirement provision products, financial advisors can once again offer a product that was one of the company's best-selling in the past.

In life insurance, excellent results were achieved overall. The portfolio (sum insured excluding occupational disability insurance) grew by 0.7% to €185.0 billion (previous year: €183.9 billion). New business was almost exactly at the previous year's level (€17.4 billion). It is becoming apparent that new business will grow more strongly again in the future.

Healthy with private health insurance

The population is getting older, which means that issues such as health and care are becoming more and more important, and also because social security systems cannot provide everything. In this case, financial advisors are the point of contact when it comes to switching to or supplementing health and nursing care insurance policies. There is also growing demand for company health insurance, which companies take out as part of their social responsibility for their employees. In this context, the advice and services of a financial advisor are increasingly sought after. Our company's portfolio in private health and nursing care insurance increased by 5.0% in 2024 to a current €1,747.4 million in annual premiums (previous year: €1,664.2 million). New business grew strongly by 30% to €103.5 million (previous year: €86.2 million).

Staying safe, at all times

People face a lot of risks. If something happens, this can be very expensive. For example, in the event of liability, burglary, fire, storm and the increasingly frequent damage caused by the elements. Or in the event of accidents that lead to injuries or, in the worst case, to permanent impairments. It is possible to set up financial protection to cover each of these risks individually. However, it is better to take out an asset protection policy (APP), which is only available from financial advisors and offers all-round cover is only available from financial advisors. The company's financial advisors have already brokered over a million such policies. The company was thus able to expand its portfolio of property, liability, accident and legal expenses insurance by 7.5% to €3.2 billion in 2024 (previous year: €3.0 billion). At €489.2 million, new business was significantly (12.7%) higher than in the previous year (€434.1 million).

Recognizing risks together – seizing opportunities

2024 was a good year for financial investments. Interest rates returned, stock markets rose, and the price of gold reached record levels. However, it is precisely this wide range of opportunities that is the crux of the matter for many people. Because in addition to the opportunities, every financial investment is also associated with risks. And before making any investment, the client's savings goal should be clearly determined. People who act without thinking can quickly lose a lot of money instead of carefully increasing their savings. On the other hand, it is almost irrational to leave money in an account without any return for fear of losses and to actually lose money due to general price increases. This makes it all the more important to have the input of a financial advisor who can explain the risks and make appropriate proposals based on individual preferences and situations. More and more people are taking advantage of this, not least because banks and savings banks are closing one branch after another.

The figures support this steadily increasing importance: the company's investment portfolio (direct business and inflows from unit-linked life insurance policies) also increased thanks to its good performance by 22.8% to €45.9 billion (previous year €37.4 billion). Furthermore, new business (direct investment only) also performed extremely well, increasing by 39% to €4.1 billion compared to the previous year (€2.9 billion).

Demand for precious metals, which financial advisors were able to broker in the form of physical gold and silver, as a savings plan or one-time investment, or even as a retirement provision option integrated into private life and pension insurance policies, was equally encouraging. In direct business alone, almost twelve tons of gold and 126.5 tons of physical silver have already been brokered.

Financial advisory services for entrepreneurs and self-employed people too

Financial advisory services are not limited to private clients. In particular, small and medium-sized companies and self-employed people are keen to take advantage of the services of a financial advisor. In addition to business insurance, company retirement provision and health insurance, this often also involves external financing, and SMEs in particular are interested in having better liquidity planning and limiting outstanding receivables. Financial advisors can take advantage of the services offered by DV Deutsche Verrechnungsstelle. The total volume of contracts brokered in 2024 was €455 million.

Strong partners

Deutsche Bank

Generali Deutschland

DWS Group

More about our product partnerships

The return of interest rates

No other factor determines the course of business in building society savings and construction financing as much as interest rates. If interest rates rise from a low level, building society savings will flourish, as many people want to secure the low interest rate with this type of contract for subsequent real estate projects. Conversely, when interest rates rise, demand for construction financing declines because the interest burden can overwhelm more and more prospective buyers.

By the end of 2024, the European Central Bank had lowered its key interest rate in several steps to 3% – down from a rate of 4.5% in 2023. Following the logic of interest rates, this led to a revival in the construction financing business and to a rather restrained business performance in the home loan savings business. The latter performed in line with the market for new business, with a home loan savings volume of €3.3 billion (minus 26%). The portfolio, on the other hand, grew by 4.3% from €28.7 billion to €29.9 billion, due in part to the large number of contracts signed in previous years. Many existing clients also took advantage of the comparatively low interest rates secured for old contracts.

The financing volume thus increased by 48% to €796 million. Due to the drop in market interest rates, construction financing through banks also benefited and, at €2.1 billion, achieved an increase of 6.5%.

In line with our holistic financial advisory approach and the aim of supporting clients in all financial matters, financial advisors also broker current accounts and help when unnecessarily large sums of money are paid for the use of expensive overdraft facilities. In 2024 alone, a loan volume of €436 million was brokered. And over 76,000 customers have signed up for the "Zinskonto Plus" account from Deutsche Bank.

Financial advisory services – a winning export

Financial advice is advice from person to person, i.e. "local business", and is always closely integrated into social security systems, which differ greatly from country to country. It is therefore generally ill-advised to provide financial advisory services across borders, but instead to work with local financial advisors who thoroughly understand the country, its customs and general conditions from their own experience. The same applies here: citizens need financial advice, as the subject matter is complex. Being able to provide such financial advice across all sectors from a single source is always an advantage. This is reflected in the success of our subsidiaries, Deutsche Vermögensberatung (DVAG) in Austria and Switzerland, which we have achieved with Deutsche Vermögensberatung Bank AG, based in Vienna, and Schweizer Vermögensberatung in Zurich. Our which previously specialised in health insurance brokerage and in which Deutsche Vermögensberatung (DVAG) holds a majority stake, was also able to build on its success.

Strong partnerships under one roof in the DACH region

The success achieved in 2024 was a special milestone, as Deutsche Vermögensberatung (DVAG) celebrated its 50th anniversary this year. For half a century, the company's business model has stood for stability, continuity and client focus. Our foreign partner companies in Austria and Switzerland also contribute to this community. With their local expertise, commitment and collaboration with DVAG, they create the basis for sustainable growth.

Deutsche Vermögensberatung Bank AG (formerly: Allgemeine Vermögensberatung (AVBG)) in Austria, which was founded in 1994, celebrated its 30^th anniversary in 2024 and has been an outstanding success story right from the very beginning. It has reached numerous milestones in its company history, including being named the best service provider taking a holistic financial advisory approach in Austria and continuously achieving top performance in Top Service Austria. Collaborations with renowned partners, such as the Generali Group and Infina, have been further expanded, which has contributed significantly to growth and success. DVAG Austria has established itself as a leading provider in the field of taking a holistic financial advisory approach.

SVAG in Switzerland, which has been committed to the concept of taking a holistic financial advisory approach since its foundation in 2005, has also reached a number of significant milestones. Particularly noteworthy is the fact that SVAG has successfully established itself in all three language regions of Switzerland and thus operates effectively in all national languages. With over 200 full-time financial advisors and 23 locations, SVAG has become a relevant market player in Switzerland. The company's innovative strength is reflected in the continuous development of new advisory approaches and tools, which shape the image of responsible financial advisors and represent an important step on the path to growth. The strong strategic partnership with Generali, combined with its positioning as an independent financial advisor, continues to open up considerable prospects for SVAG's corporate development.

Both companies will continue to focus on achieving sustainable growth and providing excellent financial advice going forward. This collaboration will sustainably strengthen DVAG's position in international markets.

Business report 2024

Further topics

A family-owned company for 50 years

How we see our future

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Career as financial advisor

How we train

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Interview with Andreas Pohl

We are leading the way

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