Although we do provide our services directly to a number of private individuals and families, the majority of our clients are professional financial service providers. Each one of them may have their own unique reasons to seek an external partner; their preference for Salvum time and again appears to be a mix of the following characteristics.
- We neither advise nor manage clients’ assets
- We have no opaque remuneration schemes; we get paid by our customers only
- We do not need to know the actual beneficial owner(s); no name, no address, no proof of identity; hence no cumbersome repetitive “KYC” and “AML” formalities
- There is a team available with decades of experience in each and every aspect of the financial markets
- Full awareness of no “one fits all” solution; each client has a unique interest and request which will be addressed same way
FAMILY OFFICES
Many family offices have decided to outsource certain parts of their infrastructure. First of all the financial and operational burden of reporting and analytics software licensing, installation, data feeds, data management, reconciliation and maintenance plus research and analysis costs are increasingly difficult to justify. Secondly and often just as important the family officers do not want to be distracted by this part of their business universe. By providing customized bite size pieces of in-depth and relevant information we enable them to focus on their core competences, which is exactly as the families intended. Interestingly our white labelling offering has been particularly welcomed by multiple family offices (MFOs).
INDEPENDENT ASSET MANAGERS
A vast numbers of independent asset managers have been witnessing rising regulatory pressure for several years now resulting in core business distraction on the one hand and soaring costs on the other hand. As much as accurate reporting is becoming a standard in wealth management, the effort and costs that come with in-house solutions are less and less sustainable in the new environment. We deliver the reports in customized design and layouts as you desire and for your unique needs including of course your corporate identity.
Delivering performance analytics and other financial analytics further reduce your burdens. Daily (consolidated!) investment mandate compliance checks will support and address the tactical asset allocation and various other parameters and challenges without involvement of the common time consuming manual checks. Asset managers can thus enter client meetings and take calls immediately fully prepared.
TRUSTEES AND FIDUCIAIRY- / COMPANY DIRECTORS
Trustees have a number of duties including the duty to “prudently invest trust assets” and “administer in the best interest of the beneficiaries”. However, we see the growth in legal disputes over the last two decades by dissatisfied beneficiaries following poor performances or worse. And although the decisions are as dispersed as the cases themselves, the trend is clear: both from an investment and a legal point of view a trustee can no longer successfully rely on a reactive and marginal monitoring functionality to meet their fiduciary duties.
Now that the investment environment seems more remote than ever from the efficient market hypothesis (whereby basically conventional asset diversification would cover the trustee’s duties for the bigger part), it is imperative for a trustee to step forward and adopt a proactive stance. Contemporary risk free rates of return (if existing) hovering around zero do not seem to be working for beneficiaries either.
At Salvum we do not provide investment advice; we do however provide the most efficient set of information for trustees and their investment advisors / banks to take the appropriate decisions for each particular case. We report to the trustee our ongoing monitoring findings, thereby ensuring that the trustees’ duties are met and the beneficiaries’ interests are protected in the best possible way.
In analogy with trusteeships, similar situations apply to the directors of countless asset holding companies worldwide.