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Guide

Finanzberatung

Financial advice describes the support provided on financial decisions, ranging from pension provision and investment to financial planning. In Switzerland, the term is not legally protected and covers a wide range of services. One regulated form is investment advice under FinSA, which can be provided by a wealth manager as well as by an independent financial adviser. What matters, therefore, is not the label but the specific service and its regulatory basis.

The essentials

01

The term 'financial advice' is not protected by law in Switzerland; what matters is the specific service actually provided and its regulatory basis, not the professional title.

02

Investment advice is a service regulated under FinSA; it can be provided by a wealth manager as well as by an independent financial adviser.

03

Client advisers who are not already prudentially supervised must register in the client adviser register under FinSA before commencing their activities.

04

The client adviser register is maintained by a FINMA-approved registration body (for example regservices.ch, BX Swiss AG); registration requires sufficient expertise, professional liability insurance, and affiliation with an ombudsman.

05

Client advisers employed by prudentially supervised institutions, such as banks and FINMA-authorised wealth managers, are exempt from the registration requirement as they are already supervised.

Sources: FinSA Art. 28

Frequently asked questions about Finanzberatung

Financial advice is an umbrella term. With wealth management, you delegate ongoing investment decisions to a wealth manager, who requires FINMA authorisation for this; with investment advice, you receive recommendations and decide yourself. Investment advice may be provided by a wealth manager as well as by an independent financial adviser; wealth management, by contrast, may only be offered by an authorised wealth manager. What matters is which service you want and how the provider is regulated.
The client adviser register under FinSA (Art. 28) records client advisers who are not already prudentially supervised. Registration requires sufficient expertise, professional liability insurance, and affiliation with an ombudsman. The register is maintained by FINMA-approved registration bodies such as regservices.ch. A register entry or FINMA supervision are reliable indicators of a reputable provider.
The term itself is not legally protected, but the individual activities are. Investment advice and wealth management are subject to FinSA and FinIA. Wealth managers require FINMA authorisation; independent client advisers who are not prudentially supervised must register in the client adviser register. Focus therefore on the actual service provided and its regulatory basis.
This depends on the model and services provided: fee-based (hourly or fixed fee), as a percentage of assets under management, or through product commissions. Transparent providers disclose their remuneration clearly; with independent wealth managers who do not receive retrocessions, costs are clearly visible. The contractual and tax arrangements may vary.

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