Ten months have elapsed since the FINMA regulatory regime’s application submission deadline for existing wealth management firms. Numerous licence applications remain pending, casting a shadow over the future of many Swiss independent wealth managers.
🔍 Doubts persist: “Will I eventually receive the licence?” This concern is especially poignant for those who’ve dedicated their lives to their firms.
🤫 And the clients? A vast majority may be unaware of this challenge. What will their response be when they realise their trusted personal advisor might not be around much longer?
🔄 Relationship Managers considering transitioning from private banking: Joining an already licensed entity is essential for sustained success.
🚀 For those Relationship Managers without equity stakes: Considering a change now might be prudent. Why remain in suspense?
💡 Entrepreneurs in the field should also consider alternative routes. A merger with a licensed counterpart could be mutually beneficial.
❌ The risk of debanking. Custodian banks won’t stand by indefinitely.
The Waiting Game: These delays and uncertainties are more than mere inconveniences. It’s possibly the right moment to adopt definitive and constructive strategies, freeing your situation from the looming sword of Damocles and moving towards a more secure and promising financial future.
Source: LinkedIn
