Haus der Vorsorge AG
With the FiplaPro® Finanzwerkzeugen, experienced financial planning experts pass on their know-how and their advisory expertise to increase consulting security. These financial tools prepare financial intermediaries, banks, and insurances for the new Financial Services Act FIDLEG and the Financial Institutions Act FINIG.
The founder of Haus der Vorsorge AG, Willy Graf, partook in an event organised by the Federal Department of Finance in Bern in 2013 to present the “impact directions of possible regulations” in the new Financial Services Act. It became clear to him rather quickly that these “impact directions” would entail far too high costs for all involved, financial intermediaries as well as customers. The question was: should he advocate sensible legislation that serves “customer protection” or should he sell his company and retire early himself?
After consultation in the professional sphere, Willy Graf and several colleagues set themselves the goal of finding a solution that was justifiable in terms of expenditure and, in particular, a financially viable solution for everyone involved. Especially the smaller customers should continue to have the opportunity to seek advice on a financially viable solution.
Subsequently, Willy Graf founded “VALIDITAS Association of Swiss Financial Service Providers” with industry peers and became the President of the new Association. With the support of the Board and the Association members, VALIDITAS has in recent years actively been part of the tangible legislative process of the new Financial Services Act (FIDLEG) and the Financial Institutions Act (FINIG). The objective of the efforts was to achieve the desired customer protection with less expenditure. According to various studies carried out in 2019, we (not just us, of course, but to a significant extent) were able to decrease the FIDLEG additional costs for the financial sector from CHF 500 million to around CHF 80 million per year, which was predicted by former Federal Councillor Widmer-Schlumpf. That is the quantifiable result of the commitment of VALIDITAS.
The study of the detailed proposals of the legislator made it clear that customer protection is the primary concern of the legislator regarding financial consultation. For this purpose, an entire set of protective provisions was created, which involves a significant amount of extra work in the individual companies.
However, if one analyses the real “dangers” of a provision consultation more closely, one quickly sees that the protection of the customer increases the more the customer understands the content of the consultation and the recommended measures. Experts speak of financial literacy. During the consultation, customers must be given the opportunity to understand the benefits of the recommended products and investments as well as the meaning and effects of the proposed optimisations on their situation. Even a layperson in financial matters must quickly be able to understand, with relatively little explanation, what the measures brought before them mean in concrete terms. In short: By simple means, he or she should (co-) determine the steps to follow.
The recommended financial products are not what count when it comes to the quality and the protective effect of the given advice, but rather an understanding of the real current and future financial situation of the customer; this must be captured, designed, and presented. An essential aspect here is a presentation that is also understandable to laypeople.
This is what the FiplaPro® Finanzwerkzeuge of Haus der Vorsorge AG strive to achieve: to introduce customers to the “complicated matter” of pension provision and financial advice as easily and quickly as possible in order for them to decide for themselves whether the recommendations and measures lain before them are good or not so good for them personally.
22 years ago, Willy Graf set up his consulting company administratively using management software (CRM) he had written himself for financial service providers. This tool, which is tailor-made for financial service providers, has been used in that version by over 150 competitors. With each release, the users’ experiences were recorded and the work processes were refined.
This tool was integrated at swoffice AG in 2004. The Internet was still in its infancy at the time and the existing application had to be gradually adapted to the new technical requirements. Even though the top programming languages of the time have since disappeared from the market, over the years the focus has always remained on streamlining processes in a financial services company.
This custom CRM system has matured over many years of use in the financial sector. The practical working tool has been redesigned in 2018/2019 and transferred into the digital world. The existing work processes to support both corporate management and administration, e.g. in the collection, administration, and documentation of customer data, contracts, policies, correspondence, commissions, etc. were supplemented with the requirements of the Anti-Money Laundering Act (AMLA), as well as the new Financial Services Act (FinSA) and the Financial Institutions Act (FinIA). Once the provisions of the ordinances on the laws are finalised in autumn 2019, FiplaPro® Beratungscockpit will support Swiss financial service providers with a helpful tool for meeting the regulator’s requirements and saving time on audits with clean data management. In addition to financial data, the CRM now also records most of the statutory auditing and due diligence obligations and maintains them available for years as evidence in the event of a dispute.
FiplaPro® visualisierten Eignungsprüfungen stem from the experience gained working on consulting assignments at VVK Vorsorge- und Vermögenskonzepte AG. Since 1998, their clients have received advice via a tailored financial plan. As a result, they have always received their financial position on a single page. This format makes it easier to understand, even for those who are less concerned about their finances. In their role of consultant to members of large Swiss associations, VVK’s work has always been under scrutiny from a demanding client base. Nevertheless, client loyalty to VVK over the years has gone far beyond their retirement: indeed, clients continue to benefit from the intelligible manner the proposed measures and products are presented.
The proof of concept for the advantages of “displaying everything intelligibly on one page” is grounded. The presentation of the results by means of a financial plan on one page helps clients shape their own opinions faster and better, so they can decide whether this or that measure or product suits them.
The concept behind FiplaPro® visualisierte Eignungsprüfung was developed as a result of the many experiences with different stages and situations in the client’s life, as well as the experience with the content of the individual financial plans: four pension plans based on life phases which cover any situation encountered by someone living in Switzerland.
- FiplaPro® Vorsorgeanalyse, a provision check for individuals between the ages of 20 and 40
- FiplaPro® Einkommens- und Vermögen-Check, a simple FinSA risk check
- FiplaPro® Pensionsvorbereitung, setting up retirement for individuals over the age of 40
- FiplaPro® Pensionsbegleitung, asset management for retired individuals
In addition to maintaining a simple and understandable presentation on a single page, it was also important to allow clients to enter information as straightforwardly as possible and to update the plans in case the situation of the client changes.
With the current financial plans, the financial services provider meets FinSA’s strict requirements for client protection. The client’s situation is fully recorded and presented in a transparent manner. The due diligence and audit obligations, even the suitability and adequacy tests – which are notoriously difficult to submit – are available as results in the plan.
Together with a supplement to the questions in the individual risk profiles, the client’s parameters are recorded in such detail that incorrect advice or advice against the client’s intentions is practically impossible. FinSA/FinIA client protection requirements are covered.
Simple data entry operations allow even untrained financial services providers and those who do not specifically work as financial planners to set up financial plans for their clients. It makes no difference whether the data was entered in the CRM or when the plan was created since these are available in both tools. The training programme offered in cooperation with the IfFP Institute for Financial Planning provides the necessary expertise to set up and present high-quality financial plans.
If you still do not feel confident to set up your own plans, you can have them prepared by the experts at Haus der Vorsorge. The consultant will present the plans to his or her clients.
FinSA’s transparency requirements are strict. What stops clients from gaining direct access to their insurance and provision information? Nothing.
This is precisely why FiplaPro® Vorsorgeagenda provides access to data in FiplaPro® Beratungscockpit. Clients are granted access to a communication and filing system through user rights defined by the financial services provider. Some information, such as changes of address, can be modified by the clients themselves, while others can be viewed by both parties at any time.
With FiplaPro® Vorsorgeagenda, the financial services provider obtains a tool that goes far beyond pure transparency. The tool also allows communication with clients and reminds both parties of elapsing investments and insurance policies, or deadlines concerning important events such as the application for Old-age and survivors’ insurance (OASI) or withdrawal of capital from the pension fund.
FiplaPro® Finanzwerkzeuge create added value by enhancing your consulting security!
Traditional values, trust, ethics, sustainability, and professionalism have been the cornerstones of our business for over twenty years – and our clients notice it. Our work is guided every day by the basic principles of human coexistence.
Provision plans sold
by VVK AG
The VVK Group
Haus der Vorsorge AG is part of the VVK Group.
We are provision!
Market leader in the consultation of members of large national associations.
Over 10,000 provision plans since 1997
Marketing of private Debt investments
- FiplaPro® visualisierte Eignungsprüfung
- FiplaPro® Beratungscockpit
- FiplaPro® Vorsorgeagenda
CRM for financial service providers since 2004
Interfaces to custodian banks
Depiction of administrative digital processes
Back office services for financial service providers (under development)
Online shopping platform for cashback and vouchers as a white label solution for businesses, associations, and clubs
Online sale of insurance and financial products