Change asset manager? Here’s why.
According to a 2019 study by Ernst&Young, 35% of “Generation X” (born in the mid-60s to early 80s) and as many as 38% of “Generation Y” (also called “Millenials,” born from the early 80s to the late 90s) are willing to change their wealth manager within the next three years. On the one hand, these are astonishingly high values, but on the other hand, they become understandable when you look at the reasons behind them.
The four biggest traps
Possibly you are also affected by the following points?
Trap 1: Hidden costs
Do you know all the fees you pay, directly or indirectly? Are you perhaps even paying twice without knowing it?
Interested investors often give us their securities accounts to review and then experience nasty surprises time and again. After all, they are paying custody fees at the bank they trust. Perhaps they also pay transaction fees at the bank they trust. But then they also pay fund fees for funds of the bank they trust, which are in the custody account at the bank they trust. In addition, they also pay for structured products at the bank they trust, for structured products that the bank they trust has issued and that are now in the custody account at the bank they trust.
In short, they pay too much and often for the same thing. This should not be the case. We would also be happy to analyze the costs of your current custody account. Your money deserves maximum control and transparency.
Trap 2: Frequent change of consultant
How many different contacts have you had in the last ten years? And when there was a change, all you received was a letter with a new name and before this person got in touch, the next letter had already arrived? Do you know the deputy and also the superior of this person? Or do you end up in the call center when you call your bank?
Asset management is a matter of trust. Only when people know each other well can trust develop. And trust is the basis of every collaboration.
Trap 3: Little communication
How often has your personal advisor contacted you in the last 18 months? You met “your” advisor once when you opened your account. But then you never heard from him again or he only contacted you when he wanted something from you or wanted to sell you something?
How well do you know your consultant? How many clients does your advisor serve besides you? How exactly is your money invested at the moment and what is its performance? Does this person really know your needs and your personal circumstances?
Only those who really know your needs can meet them. Needs can change constantly and therefore require regular and open communication.
Trap 4: Security
Who are you working with now? Do you only work with first-class addresses that are controlled by FINMA (Swiss Financial Market Supervisory Authority) or BaFin (German Federal Financial Supervisory Authority)? Or is your current asset manager only subject to a self-regulatory organization?
Trust is good, control is better. Your assets deserve the highest security standards. After all, it is your money.
Therefore, always look for the following characteristics when choosing your asset manager:
Highest possible security standards
We have voluntarily placed ourselves under the supervision of FINMA (Swiss Financial Market Supervisory Authority) and BaFin (German Federal Financial Supervisory Authority) and are directly controlled by these authorities. This guarantees you that your money is managed by a reputable and solid partner. In your interest.
You are the center of attention. And only you. We help you pursue and realize your goals with solutions tailored to your personal needs. Because at the end of the day, you don’t want a standard solution imposed on you, but an investment structure that fits your personal preferences and needs. Oil, gold, sustainability? Whatever the topic. Let’s talk about it.
Independence to the power of two
First, we are not beholden to any bank or issuer in any way. We don’t have to make investments if we don’t want to or if we don’t think it makes sense. This gives you the certainty that we act in only one interest and that is yours.
Second, your custodian bank. We will of course help you with your choice. Due to our size alone, we have preferential conditions with a number of banks. You decide at which address you feel comfortable and where we may manage your assets.
Clear text is our capital. This is especially true when it comes to costs. With us, you know right from the start where and how which costs arise, we break them down in detail and answer every question about them. After all, trust is the basis of any business relationship, and that includes full transparency. You will receive updates from us at a frequency determined by you, because here, too, every customer has his or her own special ideas, which we are happy to serve.
You have reason to talk to us? We are there for you at any time. Even on weekends. In person, by phone, virtually via video conference. You have a personal contact plus a deputy at your disposal. You can also make an appointment digitally, around the clock and always where it is most convenient for you. We are happy to accommodate your ideas and schedule.
Feel free to schedule an initial consultation:
Gladly Corona-compliant digitally, conveniently and easily from home.
With our locations in Switzerland and Germany, you decide where you want your money managed. Through our network we can also provide you with international contacts in all areas, be it tax experts, pension advisors, real estate specialists … we are your contact in all financial matters.
2020 was certainly not an easy year. Despite lockdowns, the stock market crash and negative interest rates, we achieved a clearly positive result for our customers. Our main objective has always been to achieve sustainable asset growth for our customers with manageable risks. Through investment, not speculation.
We have been in the market for more than a quarter of a century and have seen boom phases as well as numerous crises. With each crisis we have grown a bit, and by now our clients entrust us with around one billion Swiss francs. If you too are looking for a team that will prudently navigate your capital through calm and stormy waters in your best interest, then you have come to the right place.
Book an initial consultation directly now
Gladly in person or digitally, conveniently and easily from home. Conserving resources without the expense of travel.
More articles on asset management
A fantastic start Monthly report January 2023 Global stock markets got off to a flying start in 2023. The main reason for this was the further decline in inflation data. In particular, the renewed drop in annual inflation in the USA in...
Annual Outlook 2023 - We look positively ahead. Review When we talk about 2022, we are once again talking about a year that will go down in the history books. Mostly in the negative sense, unfortunately, as the year held surprises on so many fronts...
Active management beats passive products Monthly report December 2022 December got off to a promising start, with European stock exchanges following the positive trend from the USA. Hopes grew among investors that the lower inflation figures...