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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

01

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.

02

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).

03

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)