On average, MLP private clients are in their mid-40s, highly educated, and work in sought-after professions. They are aware that the state cannot cover everything, and they need to plan for themselves and their families. They want high quality advisory services to support their financial decisions. An increasingly important aspect for our clients is also the transfer of wealth to the next generation. All of these are complex advisory questions.

In our advisory services, digital support is becoming increasingly important. We have a powerful advisor portal and a comprehensive digital platform for our clients. We call it Financial Home. There, they can find everything from property insurance contracts to wealth management – this is a unique feature in the market.

Absolutely. The big advantage for the client is that they can have their entire financial situation in view with the MLP advisor, allowing them to address all related financial questions. Once a concept derived from the client's needs is in place, we can select the right offerings from the market for their protection, as well as in investments with funds and asset managers. This ensures provider diversification in our advisory approach.

Our advisory model is based on long-term, and therefore highly demanding, client relationships. The services of our advisors are compensated through fees and commissions. We have been using a fee-based model in wealth management since 2012, being one of the first large firms in the market to do so. The compensation is a percentage per year of the portfolio volume. Any rebates from fund companies are passed entirely on to the client.

For insurance, we receive commissions. All costs are disclosed to the client before the contract is concluded. From our experience, there is no real demand for fee-based models. Therefore, it is also logical from a consumer's perspective that plans for a commission ban at EU level have been abandoned.

Almost 70% of our revenues today are recurring, compared to just around 30% in 2005. At the start of the millennium, our revenues were predominantly from the retirement sector. Today, assets and wealth protection have grown significantly, making our revenue distribution very balanced. This was exactly our goal with the strategic development of the MLP Group. We are now built on several very solid pillars.

Our bank has been part of the MLP Group for a long time. It plays an important but limited role: we offer accounts, cards, and securities through it as part of wealth management to serve our clients comprehensively. We are only active in a limited way in other areas of banking, such as lending. Therefore, typical banking risks are also kept in check. Since the European Central Bank reintroduced positive interest rates in 2022, our conservative investments at the central bank have generated solid returns. However, this should not tempt anyone to categorise MLP shares as being in the banking sector – most capital market experts correctly see us in the financial services sector, with an increasingly strong asset management component.

We have long used DWP Bank for securities processing. Through our digital customer portal, Financial Home, our clients can now trade cryptocurrencies such as Bitcoin and Ethereum without advisory services. They no longer have to switch to other providers.

Typically, private clients come to us during or after their studies. Middle aged clients often find their advisor through recommendations. The first contact with young clients is usually online, often through social media. We promote workshops that we offer, such as Excel training or financial education. These create touchpoints with potential prospects.

Exactly. If someone is interested in further events or financial advice, possibly even considering becoming an MLP advisor, they indicate this on the feedback form. These prospects are then contacted accordingly. This often leads to long-term client relationships across different life stages – from initial wealth protection to more complex financial planning. In this context, we place great importance on the training and further education of our advisors. This takes place through our accredited Corporate University, which is aligned with state universities.

We serve over 580,000 family clients. Over the past few years, we have consistently attracted more family clients, which validates our methods of reaching out to prospects, and our advisory approach.

According to our medium-term plan up to 2025, wealth management is an important area of business – this includes serving private and institutional clients. As of the end of September we managed assets of 61 billion euros within our group, alongside our multi-asset investment firm Feri. This positions us at eye level with other renowned private banks. And wealth management will remain an essential growth area for the MLP Group in the medium to long term.

The property insurance business, both for companies and private clients, has great growth potential. We are seeing a double-digit percentage annual growth, which is stronger than the market. This is thanks to key players such as the RVM Group, which we acquired in the industrial brokerage business, as well as the business with MLP private clients and our insurance broker Domcura. Overall, we expect growth across all areas of the group.

We will present our new, ambitious medium-term plan up to 2028 at our balance sheet press conference in March 2025.

It works well. Since our entry in 2006, Feri has significantly strengthened us with its expertise in wealth management. This laid the foundation for MLP advisors to present and gain acceptance for wealth management with their clients.

For investment sums of at least 2 million euros, MLP advisors can involve Feri colleagues, either personally or via video conference, depending on the client's wishes. Over the course of the year, we have significantly increased the assets we manage in this way. This shows how the collaboration within the group is becoming more effective.

This naturally creates demand for advisory services. However, topics like the now subsided inflation don't drastically alter long-term, well-thought-out investment decisions for our client base. What we have noticed is that companies are more cautious about introducing and expanding company pension schemes.

Brokerage is going very well again, albeit from a lower level after the previous market upheavals. Real estate as an investment remains an important part of our clients' asset allocation. But we have significantly slowed down in the project business to reduce risks. We are now working more closely with strategic partners and have found that our expertise is in demand among project developers.

We come from the area of age-appropriate housing and care. The market has a huge backlog, but there are also challenges with care home operators. Through our acquisition of the company Deutschland.Immobilien in 2019, we now see potential in the areas of sustainable housing, as well as system and timber construction. However, we are approaching this sector with caution.

We confirmed our raised EBIT forecast from October 2nd at the beginning of December. This result level also reflects our long-term positive development. We are now so broadly and stably positioned that we could cope with further downturns in some of our markets. I am very grateful to our around 4,500 advisors and employees for this performance.

We have also reaffirmed our 2025 EBIT forecast of 100 to 110 million euros. We have made visible progress with our development: In property insurance reserves, we reached the range of 736 million euros by the end of September 2024, which we had originally planned to reach by the end of 2025. In terms of assets under management, we were already in close proximity to our 2025 target of 62 to 68 billion euros by the end of September.

We see ourselves as an attractive dividend stock with strong growth potential. We reliably met our EBIT forecast for 2022, and our 2025 target is also looking good. This reliability is also reflected in our dividend policy. For years, we have followed a payout ratio of 50 to 70% of group earnings. For 2024, based on the expected earnings development and our continued payout ratio, a dividend higher than the 30 cents from last year is expected. Furthermore, many shareholders are still benefiting from tax deferral.

We are committed to continuing our successful development, and as a result, our stock price will follow suit. Just before the Ukraine war, we reached a five-year high. However, our stock price, like the overall market, declined significantly afterward. Currently, it stands at around 6 euros. We see significant potential, which is why we've ramped up our investor relations efforts. Our recent re-entry into the SDax also plays a key role. During last year’s roadshows, we received excellent feedback from investors who appreciate our unique business model in Germany. They recognise our long-term approach, reliability, and strong growth.