We are leading the way

2024 was a turbulent year for many industries. What particular challenges did the insurance and financial sector face last year?

2024 was indeed a year characterised by uncertainty. Geopolitical tensions, high inflation and increasing regulatory pressures have kept everyone busy. Ongoing economic turmoil has put many companies in a tight spot and left numerous people fearing for their jobs and livelihoods. In light of this, I am all the more pleased that we were able to give our clients and our financial advisors security and stability. Despite the difficult conditions, we have once again succeeded in achieving the best result in the company history of Deutsche Vermögensberatung (DVAG). These days, people don't just want financial advice – they expect tailor-made solutions and a partner who will reliably guide them through uncertain times.

In addition, technological developments such as artificial intelligence, are having a lasting impact on the financial sector. The speed of this transformation is a challenge for many, but it is also an enormous opportunity. We have taken a strategic approach to this topic from the outset and have invested in it. Those who take bold steps now will be rewarded in the long term. 

Deutsche Vermögensberatung AG (DVAG) has 50 years of success. What does it mean to run a family-owned company that can look back on such a long history of success?

Above all, running a family-owned company means taking responsibility. Responsibility for the generations who laid the foundations before us, for those who are currently strengthening it, and for those who will build upon it in the future. 50 years of success are no coincidence, but the result of hard work, a clear set of values, and long-term thinking. With their tireless work and commitment, our financial advisors contribute significantly to our success. They are all entrepreneurs who have managed to keep their companies on track for decades. The personal contact between our coaches and their clients is crucial. This consistency and the will to uphold values across generations are what defines us. At the same time, it spurs us on to constantly develop DVAG and not stand still. The continuity with which we operate is something special! 

The business result is outstanding. What are the decisive factors for this sustained success?

Our success is based on three pillars: trust, humanity and innovation. Trust, because our clients know that we stand for stability, even in turbulent times. Our financial advisors usually accompany their clients throughout their lives – even in turbulent or difficult times. Humanity, because we understand that business is not conducted between companies and clients, but between people. And innovative strength, because we are continuously investing in new technologies and processes to keep pace with the market and to actively shape it. Financial advisors are the essential building blocks of our structure – they create the bridge between their clients and financial knowledge, based on genuine advice and not on sales pitches. 

Half a century of success – how are you celebrating your 50th anniversary and how do you see the future? 

50 years – that is an enormous achievement and of course it should be celebrated. But the anniversary is not only a reason to celebrate, but also to reflect. We have taken the time to look back and appreciate the milestones that lie behind us. At the same time, we would also like to thank the people who make this success possible. We are looking to the future with optimism and determination. We will continue to focus on innovation to offer our clients the best financial the best financial solutions. This will enable us to meet the challenges of the coming decades and continue our success. 

The market is changing rapidly. How are you preparing for the future as a company?

We see the changes in the market not as a threat, but as an opportunity. Our goal is to further accelerate our digital transformation in the years to come. Our primary concern is to make our processing as efficient and fast as possible. The focus is still to give person-to-person financial advice. Technology-supported financial advice is becoming increasingly important, while at the same time the personal expertise of our financial advisors remains the basis for advisory discussions. We are also planning to integrate the aspect of sustainability more closely into our business model and expand our activities in these areas accordingly. The focus is clearly on growing responsibly while making a positive contribution to society.

Pension packages will also be the subject of discussion in the year ahead. The importance of state funding will become more and more significant. We are also facing further economic challenges, which are exacerbated by the change of government and the associated uncertainties. These developments require us to carefully analyse and adapt our strategies to adjust to the new circumstances. Regardless of how it is organised in the future, one thing is certain: the importance of private pension provision will continue to grow and will be indispensable in retirement provision. It is now important to expand the opportunities for consumers and strengthen the advisory services on offer. 

What role does corporate citizenship play at DVAG?

Corporate citizenship is hugely important at DVAG, because it reflects the company's values and responsibility towards the community. Through our commitment, we contribute both to positively developing our society and to strengthening the trust of our company's clients and partners, ensuring sustainable development and long-term success.

It is particularly gratifying that this commitment is not only important for us as DVAG, but also for our financial advisors. They are actively involved in various projects, such as the non-profits "DVAG hilft e. V.", "Tafel Deutschland e. V." and numerous local initiatives. 

What does success mean to you personally and how do you maintain the balance between tradition and innovation?

For me, success means creating long-term added value for all our stakeholders – whether they are our clients, our partners or society as a whole. Maintaining the balance between tradition and innovation is one of our biggest challenges. For me, the key is not to see these as opposites. Tradition gives us values such as reliability, trust, competence and responsibility that we can build on. Innovation is the way we express these values in a modern manner and carry them into the future. You must always find the courage to leave old paths behind without forgetting your roots. 

How do you assess the influence of artificial intelligence and digitisation on the insurance sector?

Digitisation, especially the use of AI, is significantly changing the sector. It can help analyse risks more accurately, settle claims more quickly, and automate processes. But – and this is important to me – technology cannot replace human contact. No matter how efficient technologies allow us to become, personal interaction is crucial when it comes to building client relationships. So in the coming years, we will be investing in technologies that support our financial advisors without losing the human touch. It's about combining the strengths of both worlds. 

You have been CEO of DVAG for over ten years. When you look to the future, what are your plans for the next decade?

My goal is that in ten years there will be no way around Deutsche Vermögensberatung. We want people to think of us when it comes to retirement planning and to see us as a leading company that combines innovation with tradition. We don’t just want to be the market leader: all we want to be seen as a trustworthy and responsible partner for our clients.

What is your position on training and continuing education? 

I now also see Deutsche Vermögensberatung (DVAG) as a company that offers training with a clear educational mission. We invest heavily in the training and personal development of our advisors, because only those who feel confident can pass on the high quality that is standard for us. All of our financial advisors undergo intensive training. This is because specialist training forms the foundation on which to build expertise and deliver customised financial planning. We rely on customised, individual training measures in order to obtain important qualifications in the financial sector, such as the property loan broker diploma or financial advice certification in accordance with Sec. 34f of the German Trade, Commerce and Industry Regulation Act (GewO). In this way, we can meet the demand for comprehensive training, which allows financial advisors to further educate their clients with relevant financial knowledge. Personal development is also an important factor in the training and continuing education programme. 

What advice would you give to tomorrow's young people? 

The world is changing rapidly and the ability to remain flexible and focus on what matters is crucial. Think about the future early on and start saving for retirement in good time. A solid financial basis is essential for a carefree retirement. At the same time, it is important not to lose sight of professional satisfaction and one's own career opportunities. A career as a financial advisor offers exciting prospects, including professional development and a performance-oriented environment and diverse career opportunities.