Wealth planning, inheritance, philanthropy: these are all areas in which Banque de Luxembourg, with its century-old expertise, supports its customers, often over several generations. "Working with families and building relationships not only with the current generation but also with those to come is part of our DNA," says Stéphanie Baldinucci, Private Banking Coordinator at Banque de Luxembourg.
Wealth management implies a vision, values and responsibility towards future generations. "Including future generations in discussions about family wealth from an early age helps to strengthen their understanding of the strategic and financial choices that structure their future inheritance," continues Stéphanie Baldinucci. By taking an active part in discussions about the management of family assets, young people can gradually assimilate the dynamics involved in preserving and developing an estate. "That's why programmes aimed at the next generation are so important to us."
Working with families and building relationships not only with the current generation, but also with those to come, is part of our DNA.
A range of programmes with distinct objectives
"For more than 10 years now, we have been supporting the rising generations of families in business through programmes that have met with great success," admits Anne Goedert, Key Client Advisor at Banque de Luxembourg. Every year, the 'Académie d'Eté' brings together young people aged between 18 and 25 who are not yet working in the family business and are wondering whether they want, can or should one day join it. A second programme, the "Family Business Junior Executive Programme", is aimed at those aged between 25 and 35 who have decided to join the family business. The central theme of this programme is legitimacy, in relation to one's family, the company's employees and other stakeholders.
Driven by its desire to meet the growing needs of family customers, the bank also offers financial education workshops, taught by experts, where young people can familiarise themselves with the tools and concepts needed to manage their assets effectively. "Given the growing complexity of wealth management issues, financial education is essential to enable the next generation to navigate with confidence," explains Stephanie Baldinucci.
A better understanding of the banking world to make better decisions
To help the next generation become masters of their own finances and hone their skills, these financial education workshops are tailored to each level of knowledge, so that everyone can progress at their own pace. Topics covered include financial instruments and markets, the basics of portfolio diversification, responsible investment and wealth structuring, among others.
"This programme is designed for their needs and adapted to their generation. It's also a unique opportunity to meet our specialists and interact directly with experts in wealth management, dealing rooms, investments, real estate, private equity, etc." explains Stéphanie Baldinucci.
Participants acquire practical skills and develop a critical approach to the financial choices they will have to make. By providing them with a high-quality financial education, the bank is helping to train a generation of heirs who are better able to manage complex decisions, preserve assets and perpetuate family values.
In addition to the specific lessons taught in each programme, our financial education workshops offer a unique opportunity for participants to discuss subjects that are often difficult to discuss within the context of family or friends.
A community of like-minded people
Offering a forum for genuine exchange between peers, between young people, allows them to share experiences and questions that are often similar. "Over and above the specific lessons learned from each programme, they offer a unique opportunity for participants to discuss subjects that are often difficult to broach within the context of family and/or friends," adds Anne Goedert. "The next generation also expects a close relationship with our advisers, but one that is less formal than the one we have with their parents. We want them to see us not simply as managers of the family estate, but as genuine strategic partners, or even as facilitators of a community of people with shared interests," adds Stéphanie Baldinucci. This approach is all the more crucial in an increasingly digital and dematerialised banking environment, where the bank has the opportunity to add real value and differentiate itself by emphasising human contact with its customers. "These spaces for exchange are invaluable, not only for the personal and professional opportunities they can generate, but also for fostering a sense of belonging among peers and trust in a bank".