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 might be in the dark about 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 embrace definitive and constructive strategies, freeing your situation from Damocles’ looming sword and moving towards a more secure and promising financial future.
Source: LinkedIn
