Given the huge selection of asset managers available, it is becoming increasingly difficult, particularly for individuals, to find a partner who can understand and fulfill their specific needs. Industry tests conducted by independent experts, such as those carried out by Bilanz over the past three years to measure the performance of Swiss private banks, can provide valuable assistance in choosing the right partner.
Sixty-six banks tested – sixty evaluation criteria
In the 2011 private banking rating, sixty-six banks were asked to draw up a comprehensive investment proposal for a client wishing to invest fifteen million Swiss francs in order to use the income for retirement. The request submitted to the banks contained further details, but these details were not sufficient for an in-depth investment proposal. The banks had the opportunity to request further information in writing.
The proposals made were assessed by the independent Munich-based Institut für Vermögensaufbau. "Marks were given based on sixty criteria", explained Hansjörg Ryser, editor of Bilanz, "divided up and weighted under the following categories: scope, costs, transparency, risk analysis, interaction and overall impression of the portfolio." Using this assessment, the jury, chaired by Professor Thorsten Hens, Director of the Institute for Banking and Finance at the University of Zurich, selected the best proposals for awards.
Transparent proposal, precise content
Together with specialists from Investment Services, the client advisor at the LGT branch in Luzern that was being tested drew up an investment proposal that won over the jury both in terms of content and its customized client presentation.
H.S.H. Prince Max von und zu Liechstenstein, CEO of LGT Group, expressed his delight at the award. "Our strong performance is confirmation for us that the quality of our advice and our investment concepts meet the highest requirements. At the same time, it is an incentive for us to continue to improve in the future. The demands being placed on financial institutions and asset managers have increased due to the more volatile market environment, and clients expect a higher level of expertise, commitment and reliability."