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Van Lanschot Kempen is a well-capitalised, profitable wealth manager with a strong specialist position in the market. We believe that our knowledge and experience, our personal, client-focused approach, our unique combination of activities and our track record set us apart from the competition in our selected market segments, while offering growth opportunities.
In light of our purpose – to preserve and create wealth in a sustainable way – we have defined our wealth management strategy. Taking into account trends and developments as well as the expectations of our clients and other stakeholders, we have set our ambitions.
Supported by our strong client relationships, we aim to be a leading player in our relevant markets and geographies. This means being:
With our history as a principled, active investor, focusing on the long term, we want to move – together with our clients – from responsible investing towards sustainable investing. In addition to our focus on preventing negative impacts for all stakeholders, this means that we will also aim to create positive long-term financial and non-financial value.
We have set our financial targets for 2023:
We will maintain our solid risk profile with a moderate risk appetite. Over the years, we have developed a strong capital base. We aim to optimise our capital base, while leaving room for potential acquisitions. In addition, we will consider paying out excess capital to our shareholders.
Economic and regulatory changes, evolving client needs, societal change, advanced technology, and increased competition all impact our operating environment. We need to respond to these changes in order to deliver on our ambitions. For this purpose, we have defined four strategic pillars that are interlinked and that mutually reinforce each other:
To remain relevant for our clients and accelerate our organic growth, we believe that we have to truly understand our clients, anticipate their needs and help them to fulfil these needs in a sustainable manner. Instead of searching for a single product or a specific brand, which entails a product-led approach, clients are looking for solutions that fulfil multiple needs.
In recent years, we've successfully expanded our activities through selective bolt-on acquisitions, partnerships and hiring teams. Our high post-acquisition client retention rates show that clients value our proposition. We aim to engage in further bolt-on acquisitions and larger acquisitions in order to accelerate our growth, increase our scale and benefit from revenue, cost and/or funding synergies. We will focus on acquisition opportunities that support our positioning as a specialist player, and will consider acquisitions in existing and contiguous markets.
In order to unlock the full potential of our solutions-led organisation for our clients, we must be able to offer solutions that build on the knowledge and expertise of the entire group as well as our open architecture platform. We believe that by providing clients access to the full range of services and products across our business lines, we'll be able to meet client needs in a sustainable manner. Acting as one allows us to benefit from knowledge sharing, to make optimum use of resources across the organisation, and to reduce overlap.
Changes in clients’ needs and economic developments require us to react quickly. Technology and digitalisation will allow us to improve our productivity and service, by speeding up processes, reducing operational errors and improving the availability and quality of data. Digital interaction is key as it offers both clients and employees increased flexibility in terms of means of communication and the time needed to communicate. To grasp the full potential of patterns in internal and external data, tooling is being developed that helps end-users to interpret data and use it for data-driven decision-making in commercial processes, investment processes and operational processes.
Our people’s knowledge, experience and professionalism are key to the way we operate. Investing in our people will enable them to embrace new technology and adopt a more data-driven way of working and decision-making. We will facilitate and encourage development and training of our existing workforce. Together, we need to optimise the use of advanced analytics, to embrace new technology and to work in a more agile manner. We will also hire new people with the requisite skills and capabilities to help drive our development and the changes needed to adapt.
In order to monitor whether we're on track to deliver on our ambitions and create long-term value, we define financial and non-financial KPIs and targets. These are based on industry trends and developments, stakeholder expectations, client needs and strategic relevance. Our KPIs can be grouped into five themes, which all contribute to our purpose:
These are key to our organisation, as all stakeholders benefit from a solid capital position and sustainable performance.
We differentiate ourselves from our competitors through our personal approach, in which we focus on long-term client relationships and on aspiring to be a trusted guide for our clients. We aim to improve our client experience by further digitalising our operations, processes and communication channels.
We operate in an ethical manner, and encourage our employees to behave ethically and with integrity.
We see clear opportunities to create positive economic, environmental and social impact by investing the wealth of our clients responsibly and sustainably. Clients are increasingly looking for these types of investments, and we will expand our range of sustainable investment solutions accordingly.
We aim to be an attractive employer. As our employees are key to the success of our organisation, we invest in their inspiration, training, development and health.
Our performance on these themes and purpose is measured via financial and non-financial KPIs, of which 16 are reported externally. Please refer to our Annual Report for these KPIs. The complete list of KPIs is an integral part of our internal management information.