The distribution cooperation comprises both the complete range of investment funds offered by DWS and all of Deutsche Bank 24's financial and banking products. At the same time, DVAG will enter the German market as the mobile sales force for Deutsche Bank 24.
Extensive measures for acquiring new clients are at the centre of this partnership. The cooperation is of a long-term nature and should enable the partners to develop their full market potential in retail customer business.
This partnership with DVAG marks another meaningful milestone in the declared distribution strategy of Group Division Private Clients and Asset Management (PCAM) to broaden its European asset gathering platform.
By means of this partnership, Deutsche Bank 24 will achieve a considerably higher market presence. Besides the total of 11.5 million retail and small business customers already with the bank in Europe, thereof 7.8 in Germany, DVAG's 3.3 million clients in Germany and Austria will benefit from products and services offered by Deutsche Bank 24.
DVAG serves 3.3 million clients and has 30,000 financial consultants and 1,650 main offices and branches in Germany and Austria.