MLP SE
MLP SE 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.
Structure
General Information
Financial services like investment trusts, insurance enterprises and banks are afforded cost-effective market access by external agents, because of the lack of maintenance of their 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 employment and upcoming wealth - MLP pursues future customers already at the university.In 2013 MLP had around 830,300 clients, served by about 1,998 independent consultants and 1,559 permanent MLP employees as of 2013.
Personnel structure
Most of the consultants have an academical background, mostly in the same branch of study as their future customers. They act independently, but are supported by MLP in getting an office in one of the agencies and possibly further education. In 1999, MLP founded the MLP Corporate University, which officiates as the main centre for basic and further education of consultants working for MLP.The wage-system is based mostly on commissions and premium outlays. In their first year, the consultants receive a small wage of 1,250 EUR per month. This allows that the students do not have to pay for the advisory services.
History
Beginning
MLP was founded on 1 January 1971 in Heidelberg by the insurance broker Eicke Marschollek and the law graduate Manfred Lautenschläger. 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.Way to the flotation
In 1972, MLP transformed from a GbR to a KG. In 1974, this success allowed, apart from the transformation into a GmbH, the opening of agencies in Wiesbaden, Bonn and Düsseldorf.After adding engineers and economists to their target group, the first step for the flotation on 15 June 1988 was taken in 1984, by transforming MLP into an AG. From this moment onwards, MLP grew quickly and in 1997, MLP became represented in the MDAX. The corporate headquarters moved from Heidelberg to Wiesloch in 2001 and on 30 July 2001 MLP became part of the DAX as one of the 30 biggest publicly traded companies in Germany and stayed there until 2003.