02Sep2025

The 5 Swiss Cantons Independent Wealth Managers Flock To – and Why

Disclaimer: The views and opinions expressed in the vapa Swiss independent wealth management blog are solely my own and do not reflect those of any institutions or organisations with which I am affiliated. These posts are intended to share personal insights and should not be interpreted as official statements.

View of Swiss city with lake, churches, mountains and palm tree – surreal canton blend

When launching an independent wealth management firm, the question isn’t “where do I want to live?” – “Where does my business thrive?” In Switzerland, five cantons stand out: Geneva, Zug, Ticino, Appenzell Innerrhoden and Zurich. Their appeal lies in client access, fiscal advantages, and professional infrastructure.

Geneva leads by density

With over 60 wealth managers per 100,000 residents, it’s the unrivalled hub for international private wealth. Its reputation for discretion and proximity to global clients – from the Middle East to Latin America – makes it the natural home for managers who rely on trust and high-touch service.

Zug ranks second, but first in tax efficiency

Favourable corporate and personal tax rates, a straightforward administrative environment, and access to legal and fiduciary experts make it ideal for boutique founders optimising operations and income.

Ticino serves cross-border families

Ticino, and particularly Lugano, is a magnet for Italian-speaking clients. For many families across the border, managing wealth in a Swiss canton that feels culturally familiar but operates under stricter financial regulation offers the best of both worlds.

Appenzell Innerrhoden: niche and discreet

Appenzell Innerrhoden may be small, but its high manager-to-capita ratio reveals its niche appeal—it is often chosen by discreet, long-established firms that serve multigenerational clients in private settings.

Zurich: talent, clients, infrastructure

With its deep talent pool, access to global financial infrastructure, and high reputation, Zurich remains the anchor for firms that need clients and skilled staff nearby.

Conclusion

These cantons are more than tax havens or pretty postcodes—they’re strategic platforms. For founders, choosing the right canton means choosing the conditions under which long-term independence and performance are possible.

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