Improving Gerontology Literacy
Gerontology examines the various issues that occur as people age and is a field of study characterized by interdisciplinary viewpoints aimed at investigating ways to help people lead better lives. At SuMi TRUST Bank, we are focused on studying gerontology together with our clients and aim to realize the concept of productive aging whereby seniors stay in control of their own lives right to the very end and remain an integral part of society despite their old age. At SuMi TRUST Bank since 2014 it has been mandatory for all branch managers to sit and pass a gerontology test, an accreditation that is put to good use when providing services to, and consulting with, elderly clients. From February 2020 employees holding a position of responsibility (section managers, team leaders, and above) in the head office and branches & departments of the Retail Total Solution Services Business will also be required to pass this test. We plan to have these managers and leaders utilize the knowledge gained when providing guidance and training to their subordinates.
Furthermore, we have also lent our support to the creation of questions in the Bank Gerontologist certification exam jointly launched in January 2021 by the Decision-Making Support Organization Japan and the Kinzai Institute for Financial Affairs.
Partnership with ILC-Japan
SuMi TRUST Holdings is a member of ILC-Japan, the Japanese branch of the International Longevity Center, a global alliance of organizations focused on gerontology. And since fiscal 2017 we have also chaired a research group hosted by ILC-Japan that studies lifestyles in societies characterized by longevity. In fiscal 2019 we invited external experts to come and discuss what kind of role companies should be fulfilling in regions where populations are rapidly aging.
Silver College Seminars
Since 2012, SuMi TRUST Bank has hosted Silver College seminars at its branches across Japan in order to provide easy-to-understand information about gerontology to the senior generation and our clients that currently assist them. Topics covered have included money, health, dementia, and housing, while the lectures given by our group of first-rate instructors have been favorably received on every occasion.
Opening of Consulting Plaza for Peaceful 100-Year Life
Sumitomo Mitsui Trust Life Partners, the insurance sales arm of SuMi TRUST Bank, opened a new Consulting Plaza for Peaceful 100-Year Life office in Shinjuku in September 2019. The company plans to open up a new face-to-face consulting channel primarily focusing on clients that are currently part of the working generation by blending SuMi TRUST Bank’s specialist products, services, and consulting capabilities with its own insurance consulting know-how. The Group will look to utilize this consulting channel to promote the kind of insurance business model only a trust bank can deliver—one that offers comprehensive proposals while taking into account taxation, social security, and pension systems. In this way, we aim to be the financial institution chosen by our clients as their "best partner" for a long and fulfilling life.
Tie-Up with UBS and Establishment of UBS SuMi TRUST Wealth Advisory
Having combined the traditional global wealth management know-how of Switzerland’s UBS Group—one of the world’s leading integrated financial services group—with the trust and expertise of dedicated trust bank SuMi TRUST Bank, the operations of UBS SuMi TRUST Wealth Advisory Co., Ltd. kicked off in January 2020. The first stage of this joint venture will seek to deliver comprehensive solutions that protect and grow the valuable assets of clients.