CaixaBank Private Banking has presented its new service, Advisory GPS (Global Portfolio Strategy), which combines agility and efficiency in portfolio construction with the maximum personalization of advisory, creating a unique service in Spain.
This service will be available to all private banking customers, including Independent Advisory and Wealth customers, who request it. They can select the portion of their portfolio to adhere to the service, with an explicit fee and clean share class access for non-independent advisory customers, while independent advisory customers will have the service included in their existing fees.
The Advisory GPS service offers access to a variety of investment options, allowing customers to choose between funds, ETFs and securities. Regardless of the instrument, customers can decide the level of risk they want to assume, the type of bias they want to give to that segment, and depending on the assets to be allocated, they can diversify into alternative assets. Customers will regularly receive investment proposals from their manager to align that portfolio with the entity’s strategic positioning. Each investment proposal will also include the rationale behind suggested changes, strengthening the value for money of the advisory services, improving managers’ proactivity, and ensuring optimal portfolio construction.
According to Belén Martín, Director of Private Banking at CaixaBank, “CaixaBank Private Banking’s new advisory service, Advisory GPS, represents a qualitative leap in our value proposition within wealth management, allowing us to offer multiple competitive advantages, such as better risk control, greater alignment with the entity’s strategic vision, increased agility in generating investment proposals, and total cost transparency as it is explicitly paid and provides access to clean classes”.
With Advisory GPS, CaixaBank Private Banking expands its service offering, generating added value efficiently by using technology and creating a new relationship framework with clients.
A new client management platform
This new service is part of a platform change for all private banking managers called GPS (Global Portfolio Strategy), which combines CaixaBank’s private banking capabilities and technological advancements with the strengths of Aladdin Wealth, investment management technology from BlackRock that drives portfolio transparency and efficiency for advisors to deliver personalized solutions to clients. This platform is the first collaboration between CaixaBank and Aladdin Wealth and has been customized for several months for its application in CaixaBank’s Wealth Management area, creating a unique and pioneering ecosystem in the sector in Spain.
The new GPS platform will be integrated into CaixaBank's private banking managers' operating systems, allowing them to have total control of their clients' positions - both independent and non-independent advisory services -, analyze their portfolios, generate investment proposals adapted to their preferences and objectives, and communicate them.
Through an intuitive graphical interface, GPS offers multiple competitive advantages over other market solutions such as an aggregated view of the manager's client portfolio by asset distribution, risk, and profitability; greater capacity to perform in-depth position analysis through filters and scenarios; and enrichment of investment proposals and client follow-up reports.
Thus, GPS allows better control of the various portfolio risks by simulating their behavior under different scenarios, through indicators and metrics that translate into alerts to the manager, facilitating day-to-day portfolio control, reducing reaction time, and speeding up decision-making.
CaixaBank Private Banking
CaixaBank's private banking business consists of a team of more than 1,100 highly qualified and specialised managers, with an average experience of 15 years, servicing 75 exclusive private banking centres and 11 exclusive Wealth centres, ensuring its customers are always provided with close support.
In 2024, CaixaBank was chosen for the second consecutive year as the 'Best Domestic Private Bank in Spain' in the Global Private Banking Awards granted by the British magazine Euromoney, which acknowledges excellence and the best private banking practices across the international sphere. CaixaBank Private Banking has been acknowledged with the highest national award granted by Euromoney six times in the past 10 years.
The commitment made by CaixaBank Private Banking towards its digital transformation has also been conceded internationally in multiple occasions. In 2024, the British magazine Professional Wealth Management (PWM), which belongs to the Financial Times Group, honoured it with two distinctions in the latest edition of its Wealth Tech Awards: 'Best Digital Private Bank in Europe 2024' and 'Best Private Bank in Europe for Digital Marketing and Communication', the latter for the third consecutive year.
These distinctions consolidate CaixaBank as Spain's referent in the private banking sector as a result of its model, which is based on advising and accompanying its customers through its vast range of exclusive and innovative products and services so as to best meet their ever-changing needs.
CaixaBank Private Banking's value proposition offers various service models to best adapt to each customer's needs and preferences, ranging from those who demand both independent and not so independent global advisory services to those who operate at their own initiative in the management of their assets using a platform with global capabilities for investment in securities, funds, saving plans and other management products.
