| Type | Aktiengesellschaft |
|---|---|
| Traded as | FWB: MLP |
| Industry | Financial services |
| Founded | 1971 |
| Headquarters | Wiesloch, Germany |
| Key people | Uwe Schroeder-Wildberg (CEO and chairman of the executive board), Peter Lütke-Bornefeld (Chairman of the supervisory board) |
| Products | Asset management, insurance, financial advisory, ratings agency, investment research |
| Revenue | €497.3 million (2010)[1] |
| Operating income | €47.0 million (2010)[1] |
| Net income | €34.1 million (2010)[1] |
| AUM | €19.8 billion (end 2010)[1] |
| Total assets | €1.505 billion (end 2010)[1] |
| Total equity | €428.4 million (end 2010)[1] |
| Employees | 1,672 (end 2010)[1] |
| Website | www.mlp-ag.com |
MLP AG (formerly Marschollek, Lautenschläger und Partner AG) is a German corporation providing financial services, especially personal financial planning advisory. It is based in Wiesloch, Baden-Württemberg and was founded on 1 January 1971 in Heidelberg by Eicke Marschollek and Manfred Lautenschläger.
MLP focuses on providing financial services consulting in the domains of pension provision, asset management and risk management to an upscale group of university graduates and wealthy clients. Most of the mediated insurances consist in life, disability, health and annuity insurances.
Contents |
Financial services like investment trusts, insurance enterprises and banks are afforded cost-effective market access by extern agents, because of the missing maintenance of own distribution networks. For them, MLP is an attractive agent, because it is geared towards the group of university graduates, who have good chances for safe employments and upcoming wealth - MLP sues future customers already at the university.
In 2010 MLP has around 774,500 clients, served by about 2,273 independent consultants and 1,672 permanent MLP employees as of 2010. [1]
All the consultants have mostly akademical background, mostly in the same branch of study as their future customers. They act independent, but are supported by MLP in getting an own office in one of the agencies and getting the possibility for further education. In 1999 MLP founded the MLP Corporate University, which officiates as the main centre for basic and further education of consultants worked for MLP.[2] The wage-system based for the most part on commissions and premium outlays. But in the first year the consultants received a small wage of 1,250 EUR per month. That allows that the students do not have to pay for the advisory services.
| Interest | Shareholder |
|---|---|
| 23,38 % | Manfred Lautenschläger; D |
| 10,02 % | Harris Associates L.P.; USA |
| 9,90 % | Swiss Life; CH |
| 9,89 % | Talanx AG; D |
| 6,67 % | Barmenia; D |
| 6,27 % | ALLIANZ SE; D |
| 6,03 % | Angelika Lautenschläger; D |
| 4,84 % | Berenberg Bank; D |
| 4,72 % | AXA S.A.; F |
| 0,73 % | Uberior Ena Ltd. (HBOS); UK |
| 17,55 % | Free float |
As the insurance broker Eicke Marschollek and the graduate of law Manfred Lautenschläger founded MLP on 1 January 1971 in Heidelberg, the business idea was from the outset to specialize on young graduates, especially on students of law. This specialization charged a market gap and they rapidly enlarged the target group on other graduates like budding medical practitioners.
In 1972 MLP transformed from a GbR in a KG. In 1974 the success allowed, beside the transformation in a GmbH, the opening of agencies in Wiesbaden, Bonn and Düsseldorf. After adding engineers and economics to their target group, the first step for the flotation on 15 June 1988 was placed 1984 in transforming MLP to an AG. From this time MLP grew quickly and in 1997 MLP was represented in the MDAX. The corporate headquarters move in 2001 from Heidelberg to Wiesloch and on 30 July 2001 MLP was part of the DAX as one of the 30 biggest publicly traded companies in Germany till 2003. Nowadays MLP is represented in the SDAX.
The abroad activities started 1995 in Austria. In 1998 followed dedications of agencies in Switzerland and 2000 in the Netherlands. A year later, MLP expanded to Great Britain and in 2002 to Spain. But in the course of consolidation in 2003, MLP has concentrated its activities again on Germany and in 2007 MLP closed its agencies in Spain and Great Britain. In 2008 the closing of agencies in Austria and in the Netherlands followed.
|
|||||