Once a brand is established in the financial sector, it often occupies a monopoly position in the clientβs psyche. However, the duration and process of achieving this status vary. In Switzerland, major banks like UBS, Julius Baer, or Pictet Group are household names, yet few can list even five independent Swiss wealth management companies and their core markets.
Despite the implementation of automatic exchange of information, wealth managers are still hesitant to disclose their primary client domiciles. This reluctance often leads to a cycle where bankers, aiming to grow with like-minded relationship managers, end up at private banks again, covering almost all standard client domiciles.
The independent wealth management industry is relatively young compared to the longstanding tradition of private banking. The age of a bank doesnβt necessarily equate to its fame. For example, Rahn+Bodmer Co., established in 1750, is likely less known than Vontobel, founded in 1924. Moreover, the list of the worldβs top 3 most valuable and strongest brands shows that age is not the sole factor for recognition, with the oldest among them, Microsoft, founded just 46 years ago.
In Germany, the wealth manager Flossbach von Storch is widely known, suggesting that independent Swiss wealth managers could one day achieve similar recognition in their home market.
Source: LinkedIn
