Discover why leading private bankers leave traditional institutions for independent wealth management — and what it means for clients.
A Quiet Revolution in Private Banking
Something is changing behind closed doors in the world of private banking. More experienced relationship managers choose to leave large banks and join or even start independent wealth management firms. This trend is not driven by headlines but by experience and a desire to serve clients better.
This shift matters. It reflects profound changes in how wealth is managed, advised, and structured in jurisdictions like Switzerland, the UK, and across the EU.
Why Relationship Managers Are Leaving Banks
For many relationship managers (RMs), life inside a bank can feel increasingly constrained:
- Product limitations and proprietary architecture
- Revenue targets that override client needs
- Limited freedom to offer truly bespoke solutions
- Internal compliance hurdles and shifting incentives
By contrast, independent wealth managers — often operating as External Asset Managers (EAMs) — can offer:
- Fully open architecture with a broad range of products
- Transparent fee models aligned with client interests
- Regulated environments under FinSA/FinIA or MiFID II
- Freedom to focus on long-term relationships, not quarterly goals
What This Means for Clients
Clients often follow when a Relationship Manager leaves a bank to work independently. Why? Because trust isn’t built on a logo — it’s built on a person.
- Continued service by someone they trust
- Access to a broader universe of solutions and custodians
- Unbundled, transparent pricing
- Less sales pressure, more advisory alignment
Importantly, clients still bank at familiar institutions (e.g., UBS, Vontobel, Pictet, Lombard Odier), but now, they do so through a structure that better protects their interests.
A Stronger Regulatory Backbone
Independent firms must be licensed (e.g. by FINMA in Switzerland) and comply with strict onboarding, suitability, and reporting rules. Many independent advisers are ahead of the curve in client protection, offering:
- Clear risk profiling
- ESG integration
- Institutional-grade reporting
It’s Not Just a Career Move. It’s a Realignment.
The move to independence is not just about compensation — it’s about conviction. Relationship managers who believe in accurate client-centric service are finding a better home outside the traditional bank walls.
Firms like those featured on vapa.ch are helping make that transition seamless for advisers and their clients.
Considering a Change?
Whether you’re a client questioning your current setup or a relationship manager exploring your options, independence might be closer than you think.
🔗 Discover more at vapa.ch, Swiss independent wealth management
Haftungsausschluss
This article is for informational purposes only and does not constitute financial, legal, or career advice. Always consult with qualified professionals before deciding on regulated activities or client transfers.
