In Switzerland, the term DUFI (from the German: Direkt unterstellte Finanzintermediäre) refers to financial intermediaries which are directly subordinate to FINMA.

These include non-bank-sector intermediaries, meaning wealth managers which are not classified as self-regulatory organizations but professionally manage, protect or assist in the investment of another entity’s wealth.

Altogether, there are approximately 400 DUFI financial intermediaries in Switzerland.

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Expert Benjamin Manz
Benjamin Manz is CEO of moneyland.ch and an independent expert on banking and finance.