'Traditional savings methods are ineffective, according to Harald Ortner (OVB).'

'The obligatory question is being asked: do Spaniards know how to save money?

Spaniards are getting better at saving. In the 20 years that OVB has been working in Spain, we have seen a positive evolution in terms of savings. It used to be much more common to have a more short-term vision, but now this is changing, people are realizing the importance of a medium and long-term savings strategy.

What advice would you give to people who are in doubt about whether to start long-term savings planning or to continue saving in the traditional way (saving in a current account).

The main advice for those in doubt is to consider the value of money over time. The way to maintain your economic ability over time is to not keep money in your current''an account that yields little or no return, but invest them in a savings plan and financial planning focused on investments.

What should be the balance between savings and investments for the average saver?

The focus of OVB's work is based on deep financial planning that takes into account the value of money and the value of things over time, a strategy that allows a person to take a calmer view of economic crises. According to our experience, we recommend, depending on each person's profile, to have between 3 and 6 monthly salaries saved, corresponding to the time it would take to find a new job in case of layoff. These savings will have low returns because''they are usually in very affordable instruments, and the remaining available amount should be directed towards investing in instruments that offer higher returns, or at least returns in excess of inflation. A key concept for achieving sound and effective financial management is diversification of savings and investments.

Why is diversification important in savings and investment strategies?

In light of the changes that are taking place in the financial markets, OVB relies on a twofold strategy: investment diversification (both geographical and sectoral) and stable and systematic planning. The first allows to reduce risks in bad conditions; the second allows to invest part of the money on''markets at any time, in both down and up cycles.

How has the OVB's approach to financial planning and investment management for individuals evolved over the past 20 years?

We have to consider two aspects: on the one hand, from a global perspective, OVB did not have to adapt, it was the market that moved in the direction indicated by OVB in 2002. For example, in the first decade of the 2000s, we were indoctrinating our clients on the need to save for retirement and they looked at us with bewilderment. They didn't understand why they needed to do that when there was a public pension system. We had a vision of how we needed to provide for retirement, and yet citizens didn't see the need. Now everyone is talking about the importance of saving''retirement. On the other hand, OVB has an obligation to constantly evolve to adapt and interact with generational and market changes.