dwpbank develops new marketplace for asset management with investify TECH and Dericon

Deutsche WertpapierService Bank AG (dwpbank) is building a marketplace for asset management together with its partners investify TECH and Dericon. In future, the wealthy clients of banks and savings banks will be able to choose from a wide range of top asset managers. The target group is particularly customers with assets of up to 250,000 euros. The marketplace for asset management thus complements the existing offering, which is mostly aimed at people with larger assets. The pilot of the new platform is planned for the end of 2024.

Up to now, banks and savings banks in Germany have usually only worked with one asset manager (AM), whose services are generally aimed at customers with liquid assets in the mid-six-figure range and above. Clients with lower assets who would also like to take advantage of the services of a top asset manager have not yet been able to make an offer. “We are addressing this area with our multi-asset manager approach,” says Christian Hogrebe, Head of Product Management & Sales at dwpbank. “We have established partners at our side to set up the platform.”

dwpbank is realizing the new marketplace for asset management with the Luxembourg-based company investify TECH and the Frankfurt-based FinTech Dericon. investify TECH is the contractual partner for asset management vis-à-vis investors; the company forms the interface between the bank or savings bank and a number of top asset managers in the German market.

the interface between the bank or savings bank and a number of top asset managers in the German market. Dericon selects these strategy providers, markets the solutions and provides support in approaching end customers. “We are already in talks with many asset managers who are very interested in the new marketplace,” says Andreas Krause, Managing Director of Dericon. “With the new offering, banks and savings banks will maintain their customer relationships and will be able to offer a broader range of investment products in future.” Dr. Harald Brock, Managing Director of investify TECH: “We ensure efficient end-to-end processing – from customer onboarding to regular reporting. This allows each partner to focus on their strengths.”

Banks and savings banks remain the custodian institution. They advise their customers, jointly select the appropriate risk profile and provide support in selecting the asset manager. The subsequent onboarding process is simplified as much as possible for advisors thanks to digital processes. The securities services in asset management are provided by dwpbank. Dr. Heiko Beck, CEO of dwpbank: “While platform solutions for financial products have long been established for deposits and mortgage loans, there is no corresponding offering in asset management. We are closing this gap together with our partners. Banks and savings banks will continue to work successfully with their established asset managers, but will be able to address a broader clientele in future and offer them greater diversity.”