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Sales Network

I valori di banca Mediolanum quali la libertà, relazione, impegno e innovazione, si manifestano nella relazione tra tutti gli stakeholder, in particolare nella fiducia e nella relazione tra Family Banker® e cliente. Il trend di crescita del patrimonio gestito dai family Banker® per cliente continua e conferma la centralità dei valori nel rapporto con i Family Banker®.

In 2014, the global economy continued the recovery that started the previous year, while the situation in Italy showed no signs of improvement and remained weak. Despite the challenging market scenario, Banca Mediolanum continued to strengthen its Sales Network, as shown by the slowdown in the turnover rate: 8.3% in 2012, 5.2% in 2013 and 4.9% in 2014. Specifically, the 2014 performance is, on the one hand, attributable to the constant growth in retention of those advisors who specifically focus on high net-worth customers and, on the other hand, to actions to improve the qualifications of our Sales Network. The strategic decision to focus on candidates with higher-level professional profiles has led to a higher percentage of qualified Financial Advisors, with a slight reduction in the size of the Sales Network.


 
 


Incentives and promotion

The members of our Sales Network are self-employed, entrepreneurial in spirit, have a variable income, and they bear all the costs of their business. These costs include office-related costs, travel expenses incurred to visit customers, costs incurred for local marketing initiatives and out-of-pocket expenses for training activities. Family Bankers® can choose between alternative career paths based on their personal inclinations :
  • developing and managing a strong customer base, which can be sold for a significant amount when the Family Banker® ceases trading;
  • a managerial career, by building a hierarchy of Family Bankers® within the Banca Mediolanum Sales Network structure, with compensation being awarded in the form of commissions.
Moreover, the Mediolanum Group appraises the business the "entrepreneur" has built up at a premium compared to other businesses in the same sector.

The incentive system takes various quantitative and qualitative factors into account: part of the compensation is linked to quality parameters that are measured on an annual basis, such as parameters aimed at assessing whether regular payments are made into recurring policies and instalment plans, the number of bank accounts opened and customer retention.

Incentive plans with a variety of objectives are in place. This applies to the entire organisation up to senior executives. Moreover, the incentive plan is also characterised by:

  • consistency between personal objectives and the requirements of the Group;
  • rewarding salespeople for particularly positive results through contests;
  • granting stock options to the most qualified salespeople.