Swiss private banking remains a global benchmark for wealth management, but fee structures are not always transparent. For high-net-worth individuals (HNWIs) and sehr vermögende Privatpersonen (UHNWIs), understanding how costs are applied is essential. This guide explains the main fee categories, compares typical ranges, and highlights why transparency and negotiation matter in 2025.
Why Private Banking Fees Matter
Fees in private banking are more than just numbers. They directly influence net performance, portfolio alignment, and client trust. Transparent pricing has become a key competitive differentiator, particularly since retrocessions and hidden costs have been subject to increased regulatory scrutiny in Switzerland.
Clients today ask sharper questions: Which services are included? Are rebates passed back? How do advisory and discretionary mandates differ in cost? Banks and independent wealth managers must respond with clarity.
Key Fee Categories in Swiss Private Banking
Based on schedules from large banks, boutiques, and independent managers, fees usually fall into six categories:
- Custody/safe-keeping fees – charged for holding securities and administration.
- Transaction fees – applied to trades such as equities, bonds, and funds.
- Advisory mandate fees – for clients who seek investment advice but make final decisions themselves.
- Discretionary mandate fees – for full Portfoliomanagement delegated to the bank or manager.
- Erfolgsabhängige Gebühren – charged when returns exceed a benchmark.
- Other costs – such as FX spreads, payments, reporting charges, and retrocessions.
Typical Swiss Private Banking Fee Ranges
The following table shows illustrative ranges collected from Swiss private banks and independent managers. Exact levels vary by institution, asset size, and type of mandate.
| Equities are higher, bonds typically lower | Typical Range | Notes |
|---|---|---|
| Custody / Safe-keeping | 0.20% – 0.40% p.a. | Often with quarterly minimums (CHF 200–500) |
| Transaktionsgebühren | 0.25% – 1.50% | Equities higher, bonds typically lower |
| Beratungsmandat | 0.50% – 1.00% p.a. | Charged on advised assets |
| Ermessensmandat | 0.60% – 1.20% p.a. | Full portfolio management by the bank |
| Other Costs | Variiert | FX spreads, reporting, payments, foreign client charges, retrocessions |
Advisory vs. Discretionary Fees
One of the most important distinctions is between Beratung und Ermessensspielraum mandates. Advisory mandates charge lower fees (often 0.50%–1.00%) but require the client to approve each trade. Discretionary mandates are more expensive (0.60%–1.20%) but give the bank authority to act within an agreed strategy. For UHNWIs, discretionary mandates often come with institutional pricing and access to private market opportunities.
Read more about discretionary vs advisory mandates.
Retrocession and Transparency in 2025
Retrocession – the practice where banks kept kickbacks from third-party funds – has been restricted by Swiss courts and regulators. Today, clients are entitled to demand full disclosure and rebate of such payments. This shift has made open architecture and transparent fee models more critical than ever.
Modern wealth managers highlight independence by returning all retrocessions and offering clear institutional share classes.
Questions Every Client Should Ask
- Are custody fees based on asset value or fixed amounts?
- What is the all-in cost of Beratungsmandate vs. Ermessensmandate?
- Do you rebate all retrocessions from third-party funds?
- How are FX conversions charged?
- Will I receive consolidated reporting across mehrere Banken?
Conclusion – Pricing as a Competitive Advantage
Swiss private banks and independent wealth managers are under pressure to justify costs. For clients, this means more room to negotiate, better access to institutional terms, and improved transparency. Those who compare fee structures carefully can secure a clear advantage without compromising service quality.
Nächster Schritt: Review your current mandate and request a fee comparison. Independent advice can often reduce total costs while broadening investment access.
FAQs – Private Banking Fees in Switzerland
What is the typical custody fee in Switzerland?
Custody fees range from 0.20% to 0.40% p.a., often with quarterly minimums.
Do Swiss private banks still take retrocessions?
Many do not. Reputable managers now rebate all third-party commissions.
What is cheaper: advisory or discretionary?
Advisory is usually cheaper (0.50%–1.00% p.a.), but discretionary offers more convenience.
Can I negotiate fees?
Yes. Larger portfolios and UHNWIs often access lower, institutional rates.
Are there hidden costs?
FX spreads, transaction charges, and reporting costs can add up. Always ask for a total expense ratio.
Related Reading: Unabhängige Vermögensverwaltung in der Schweiz | Konsolidierte Vermögensberichterstattung
