Battling the crisis with more transparency:
Zurich, February 6, 2012 – Swiss asset management, the supporting pillar of the Swiss financial center, is in the midst of a crisis. The industry is struggling with numerous challenges: increasing costs and sinking margins, a redefinition of the Swiss banking secrecy looming ahead and international competition that is becoming stronger. As approximately half of all assets managed in Switzerland are from abroad, offshore asset management is of particular importance. However, Switzerland only lies just ahead of London, Singapore and Hong Kong when it comes to offshore asset management and might lose its dominant position in the near future. Client behavior has also changed: an Internet-affine generation of investors also demands more transparency in asset management.
Swiss banks show what they are made of
The contact of Swiss financial service providers with new media has been very limited so far. Often, the provider websites did not even feature information on the type and range of their services. This might be changing now. As an answer to the current challenges, more and more banks are now willing to publicly reveal more about their company on the World Wide Web. For example, an increasing number agrees to give more precise information about their company on the independent information and intermediation portal assetinum.com. Benjamin Manz, managing partner of assetinum.com, sees this as a logical step: «The Swiss financial center needs to look ahead. It is now important to distinguish oneself from the competition transparently with own services. As a cross-border medium, the Internet is an ideal tool therefore.»
More transparency and more competition
With growing transparency comes increased competition. This is a positive development for investors, as they can expect rising service quality and sinking fees. However, the condition is that the investors have an accordingly neutral comparison possibility at hand. assetinum.com offers this possibility:
Swiss «beauty contest» for international investors
Investors have the opportunity to request free and non-binding consultations with several banks or independent asset managers of their choice quickly and without effort. After the first consultations, investors have a solid basis of comparison for their selection of the suitable Swiss bank or the suitable independent asset manager. Although the asset management industry usually calls this kind of provider competition a «beauty contest», it is not the best look that is decisive here, but the best consultation offer. New international clients are the «trophy» for the providers. Benjamin Manz explains: «Banks and asset managers must state which client domiciles they can work for. Therefore, different providers are available for consultations, depending on the investors’ domicile.»
About assetinum.com:
assetinum.com is an independent Swiss information portal for investors. A special focus is given to asset management and investment consultancy:
More information:
http://www.assetinum.com/
