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A family-owned company

Deutsche Vermögensberatung (DVAG): A family-owned company

Family-owned companies have become an integral part of the German economic landscape. An impressive 86% of private companies are owner-managed. These companies, which provide almost 60% of all jobs, have proven to offer stability to the economy, even in difficult economic periods. So it's no wonder that around a third of Germans would prefer to work for a family-owned company.

But what is it that makes family-owned companies so special? According to a 2023 study, the key lies in their continuity and reliability. However, regional roots, respect for one another and social responsibility are also valued. The owners of family-owned companies in particular prioritise such values and make them a matter of personal interest. This is also the case at Deutsche Vermögensberatung (DVAG). These values are extremely important to Andreas Pohl as Chair of the Management Board and therefore to our corporate culture. 

Decisions at DVAG are geared towards the long term. Short-term management strategies to maximise quarterly figures have no place here. Nevertheless, innovative strength and consistent development are at the heart of our business. Diversity is also a key factor for success: people of all ages and backgrounds contribute their perspectives and broad-ranging experience. This makes the company more innovative and promotes a deep understanding of our clients' wishes and goals. The result is sustainable client relationships and strong foundations for the company's success.

We stick to our values and goals. However, our long-term view does not make us any less flexible. On the contrary, we make decisions quickly and avoid bureaucracy

says Andreas Pohl, Chair of the Management Board. He has managed the family-owned company for ten years, during which growth has accelerated once again: the turnover has almost doubled. Always our focus: responsibility for the people in the company. Value-orientated and innovative practice go hand in hand at the family-owned company. 

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This "corporate DNA" underpins our multi-award-winning, holistic financial advisory approach and has ensured the company's sustained success for almost 50 years.

The effects of our value-based approach to business can also be felt in the regions, where the company's over 5,200 head offices and branches are located. Our financial advisors are part of our family-owned company and therefore belong to a strong community. As successful entrepreneurs, they pass on business values to young talents. Many of them have even passed their businesses on to the second or third generation of the families. Their clients also appreciate this long-term view. After all, these trust-based partnerships between them and their financial advisors are what ensure long-term support through every life situation.

Cedric Schwittay (right) with his father and role model, Georg Schwittay (left).

Young entrepreneur Cedric Schwittay – he reached the top rung in 2022 at the age of 28, making him the youngest Branch Manager (Direktionsleiter) in Germany. His professional role model is his father, Georg Schwittay, who has had a successful career at DVAG for 40 years.

"I learnt a lot about Deutsche Vermögensberatung (DVAG) as a child. I experienced first-hand what a great company it is and how much they do for the financial advisors and their families. When I asked myself at 18 what I should do for a living, I wasn't prepared to give up what I had already learnt. That's why I opted to enrol in the FHDW degree programme,"  says Cedric Schwittay on the subject of the family-owned company.

Bernhard Keller (5th from the left) at the 100-year celebration with his family and executives from DVAG.

Entrepreneur Bernhard Keller has built up a long-established company and is extremely proud. The fourth generation, his sons Michael and Johannes Keller, took over the management in 2021. Together, they currently look after over 10,000 clients. What makes them special: the Kellers can look back on 100 years of company history.

"I am very happy about the team spirit in our family and that our sons are continuing to run the company with so much passion. The transition was smooth. We started the process early, because I realised that I wanted to step aside in good time and make room for something new," explained Bernhard Keller at the anniversary celebration. 

Andreas Pohl (on the right) and Reinfried Pohl (on the left) with the Hegmann family.

Director Hubert Hegmann has been with Deutsche Vermögensberatung (DVAG) for 43 years, and his whole family works at the family-owned company. His children Hanna, Max and Lukas have followed in their father's footsteps and are successfully driving in the same direction as him:

"Of course our father is ambitious. But his management style is supportive and motivating. Even after 43 years, he still enjoys coaching and passing on his knowledge to the team", Hanna, Max and Lukas Hegmann agree.