Glossary
Independent Asset Management
Independent Asset Management refers to the activity of wealth managers who are not affiliated with a bank or insurance company and do not distribute their own products. They act in the client's interest, have been required to hold a FINMA Licence under FinIA (Financial Institutions Act) since 2020, and hold client assets at a custodian bank of the client's choosing.
At a glance
- Independent Asset Managers have been required to apply for a FINMA Licence under FinIA (Financial Institutions Act) since 1 January 2020; the transitional period ended on 31 December 2024.
- They are required either to decline retrocessions or to pass them on in full to clients, unless clients have explicitly waived this right (Art. 26 FinSA).
- Client assets are always held at an independent custodian bank; the manager has no direct control over the assets themselves.
Frequently asked questions
An Independent Asset Manager is bound neither by proprietary products nor by distribution agreements. This allows product-neutral investment decisions made in the client's interest. In addition, the structure separates asset management from custody: client assets are held at a custodian bank of the client's choice, which structurally reduces the risk of a conflict of interest.
Part of the topic
Finanzberatung
Sources: FINMA · Systematische Rechtssammlung (fedlex)