Security and Strategy
Why Multibanking Is Essential for Wealthy Clients
Multibanking means distributing a client’s assets across several custodian banks rather than relying on a single institution. For wealthy clients, this offers added security. Even in stable financial environments like Switzerland, it’s wise not to place all assets in one place. By working with multiple custodian banks, wealth managers reduce reliance on a single institution, safeguarding clients from potential financial issues unique to each bank.
This strategy allows independent wealth managers to tailor individual clients’ risk and asset management approaches. By diversifying assets across multiple banks, managers create a resilient buffer that protects clients from unforeseen events while still allowing for tailored investment strategies. For clients, this approach offers both peace of mind and financial flexibility.
Leveraging the Unique Strengths of Each Custodian Bank
One of the most significant advantages of multibanking is the ability to use each custodian bank’s unique features and strengths. In Switzerland, custodian banks vary in their services, fees, advisory expertise, and digital tools. This variety allows wealth managers to select banks based on what will best serve each client’s needs.
For example, some custodian banks may specialize in highly personalized wealth advisory services, while others might offer lower transaction fees or better access to specific market insights. By working with multiple banks, wealth managers can use these unique selling points to deliver a wealth management strategy tailored to each client’s objectives.
This flexibility isn’t always possible in countries with limited multibanking options, making it a distinct advantage for Swiss wealth management clients. Leveraging each custodian bank’s unique strengths also enables wealth managers to provide clients with optimized service that a single institution simply couldn’t offer.
Streamlined, Automated Reporting for Clear Oversight
A notable benefit of working with custodian banks in Switzerland is the automated, consolidated reporting they provide. For wealthy clients, this feature is crucial. Automated reporting allows clients to monitor their entire portfolio in one streamlined report, regardless of the number of banks they’re using.
With multibanking, clients no longer need to sift through separate reports from each custodian bank. Instead, wealth managers consolidate this information into a single, unified report. This transparency gives clients a clear view of their assets and fosters trust, as they know precisely where their wealth stands at any given moment. For wealth clients, this level of visibility simplifies decision-making and adds confidence in their financial strategies.
Holistic Wealth Management Strategies with Open Architecture
In addition to multibanking, Swiss wealth managers utilize open architecture platforms to access various investment options beyond a single bank’s offerings. This open architecture is vital for developing well-rounded, holistic wealth management strategies. Unlike closed systems that limit choices, an open platform allows wealth managers to select from various investment tools and services across multiple banks.
This flexibility ensures wealth clients benefit from a diverse, adaptable portfolio without being restricted to a single custodian bank’s products. By combining multibanking with open architecture, independent wealth managers can provide clients with a comprehensive wealth management strategy that can be adjusted to align with market changes and client goals.
Critical Benefits of Multibanking for Wealth Management
- Enhanced Security: Distributing assets across multiple custodian banks reduces dependency on a single institution and minimizes risk.
- Customized Solutions: Independent wealth managers can leverage each custodian bank’s unique strengths to develop tailored financial strategies.
- Consolidated Reporting: Automated, unified reports from custodian banks give clients seamless oversight of their portfolios.
- Holistic Strategies: Open architecture platforms allow wealth managers to create dynamic, adaptable client portfolios.
Conclusion
For wealth clients, multibanking offers more than just diversification—it provides a secure, transparent, and tailored approach to wealth management. Independent wealth managers in Switzerland are equipped to use multibanking and open architecture to deliver superior service that aligns with clients’ financial goals. By leveraging each custodian bank’s strengths, clients receive a secure and flexible wealth management strategy built for both stability and growth.
With multibanking, independent wealth managers elevate the standards of wealth management, providing clients with peace of mind, financial control, and an optimized strategy that stands resilient in any economic climate.
Top Swiss Banks Partnering with Independent Wealth Managers
The dedication of these custodian banks to working with independent wealth managers highlights their commitment to excellence and innovation. Here are some of the top custodian banks offering dedicated services to independent wealth managers, last updated 27.09.2024 (dedicated EAM desks, fim desks):
- Aargauische Cantonal Bank
- Aquila AG
- Axion Swiss Bank SA
- Banca Stato
- Bank Julius Baer & Co.
- Banque Bonhôte & Cie
- Banque Cantonale de Genève
- Banque Cantonale Vaudoise
- Banque Heritage
- Banque Pictet & Cie
- Banque Syz SA
- Basel Cantonal Bank (BKB)
- BNP Paribas (Suisse) SA
- Bordier & Cie
- CA Indosuez (Switzerland) SA
- Compagnie Bancaire Helvétique
- Credit Suisse
- Dreyfus Söhne & Cie
- Edmond de Rothschild (Suisse)
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- EFG International
- Graubündner Cantonal Bank (GKB)
- Helvetische Bank
- HSBC Private Bank (Suisse) SA
- Hyposwiss Private Bank
- J. Safra Sarasin
- Kaleido Privatbank
- LGT Bank
- Lombard Odier & Co.
- Maerki Baumann & Co.
- Mbaer
- Mercantil Suiza
- Mirabaud & Cie
- PKB Privatbank
- Rahn+Bodmer Co.
- Reichmuth & Co.
- REYL & Cie.
- Société Générale PB (Suisse)
- St. Galler Cantonal Bank
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