It’s Sunday lunchtime, and the moment I open the door to our apartment building, I’m greeted by a wave of delicious scents — Ossobuco, roast beef, maybe even a touch of Zürcher Geschnetzeltes. The Smell Choice instantly sets the tone for the day and reminds me how many impressions start with the smallest sensory cues.
And yes, of course, I hope that smell is coming from our flat. (It rarely is — no offence to my wife, who’s an excellent cook.)
From Hallway Aromas to Private Banking
This tiny moment always brings me back to our industry. When you walk into almost any private bank, you sense a carefully curated aroma of sophistication: French elegance, Italian flair, American drive, German precision — and naturally, Swiss tradition. Everything looks perfect, the menu beautifully presented. However, once you sit down, you quickly realise the limitations: the menu is fixed, substitutions are impossible, and real choice is not on offer.
For private bankers, this situation feels familiar. Inside a large institution, you serve the menu that the kitchen decides. Nothing more, nothing less. And as a result, genuine flexibility often remains out of reach.
Where Independence Changes the Menu
Independent wealth managers work very differently. They behave like chefs who actually invite you into the kitchen. You choose the custodian banks, the investment products, and the strategy mix. Because of that, you create something personal — not a pre-packaged standard dish. Furthermore, you adapt more quickly to shifting client needs, evolving markets and new tools.
This flexibility becomes even more relevant when navigating industry shifts such as WealthTech & AI, evolving UHNWI expectations (UHNWIs) and broader market repositioning (Private Banking vs. Wealth Management).
The Real Value of Choice
This isn’t a criticism of the big-bank set menu. Instead, it highlights how real value — and flavour — often comes from freedom. The freedom to mix, taste, adjust and serve the solution that truly suits the client. That freedom also reflects broader developments in the industry, such as brand awareness and even global positioning debates (US vs. Switzerland Wealth Management).
Why Smell Choice Matters
Every Sunday, when that rich aroma fills the hallway, I smile. The best meals — and the best portfolios — are always the ones you’ve helped create yourself. The concept of Smell Choice becomes more than a sensory moment; it becomes a reminder that freedom leads to better outcomes, whether in the kitchen or in banking.
For advisers working across diverse markets, this freedom is increasingly important — as explored in Risk Boxes & Emerging Markets.
Wishing everyone a flavourful Sunday — in the kitchen and in banking. ☕
Source: LinkedIn
