18May2024
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🚨 The Waiting Game for some independent wealth managers in Switzerland

Disclaimer: The views and opinions expressed in the vapa Swiss independent wealth management blog posts featured on this page are solely my own and do not necessarily represent the views of any institutions or organisations I may be associated with. These posts are intended to share personal insights and perspectives and should not be interpreted as official statements or positions of any affiliated entities.

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.

πŸ” Doubts persist: β€œWill 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?

πŸ”„ Relationship Managers considering transitioning from private banking: Joining an already licensed entity is essential for sustained success.

πŸš€ For those Relationship Managers without equity stakes: Considering a change now might be prudent. Why remain in suspense?

πŸ’‘ Entrepreneurs in the field should also think about alternative routes. A merger with a licensed counterpart could be a mutual benefit.

❌ The risk of debanking. Custodian banks won’t stand by indefinitely.

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.

Source: LinkedIn

Rating: 4.67/5. From 3 votes.
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Image reflecting the challenges and waiting game faced by Swiss wealth managers amidst regulatory changes and license delays.

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