swiss asset management study 2024
Banking News

Asset Management Cost Comparison

August 22, 2024 - Benjamin Manz

A new moneyland.ch analysis shows that conventional asset management in Switzerland remains expensive, but there are notable cost differences between banks.

Asset management customers are particularly sought after because wealthy customers in particular can be very profitable for banks. One reason for that is that fees for asset management are still high.

For its 2024 analysis, moneyland.ch examined the fees charged for asset management and investment advisory services for three different investment strategies.

The results show that Swiss asset management services are generally expensive, but there are big differences between service providers. “Depending on the investment strategy used, the most expensive mandates can cost more than three times more than the cheapest ones,” observes Benjamin Manz, managing director at moneyland.ch. Comparing asset management fees pays off. Useful note: Depending on your wealth and the bank in question, you may be able to negotiate asset management fees for better conditions.  

The average asset management fee is 1.32 percent

Using a conventional asset management service to invest 250,000 in a pure stock portfolio costs 3289 francs in asset management fees, on average, across the Swiss banks included in the study. That means the fees you pay every year are equivalent to 1.32 percent of the amount invested. That does not account for additional expenses like currency exchange costs, taxes, stock exchange fee, and fees charge by funds used. The fees charged by funds, in particular, can often cost you around as much as the fees charged for the asset management service.

Robo advisors - asset management services that are only available through digital channels – are substantially cheaper. The average asset management fee is less than half of the average fee for conventional asset management, as various moneyland.ch comparisons have shown. Hybrid models that combine digital apps with personal consultation are also on the rise.

Costs vary between investment strategies

The pricing of many Swiss banks still follows the rule that the bigger the stock component of your investment portfolio is, the higher the asset management fee will be. For example, investing one million francs in a pure stock portfolio (80 to 100 percent stocks) using Swiss asset management services will cost you 12,574 francs per year, on average. That is equal to around 1.26 percent of the invested capital. For a portfolio with a stock component of between 40 and 60 percent, the cost is still 1.16 percent. For a portfolio that does not include any stocks at all, the average asset management fee if 0.92 percent.

The cheapest asset management service

There are big differences in the flat asset management fees charged (see tables 1, 2, and 3) across the offers included in the moneyland.ch study. Of the analyzed service providers, the cheapest are the Sparkasse Schwyz, Alpian, and the Basellandschaftliche Kantonalbank. Other banks are cheapest for certain investment strategies and wealth categories.

Example: Customers who invest 500,000 francs in a pure stock portfolio pay 3500 francs per year at Sparkasse Schwyz (ETF Mandate), 3750 francs at Alpian, 5000 francs at the Basellandschaftlichen Kantonalbank, and 5400 francs at Swiss private bank Piguet Galland.

The cheapest investment advisory service

In addition to asset management, Swiss banks also offer investment advisory services. With an investment advisory service, the customer can choose between various investment recommendations, but has the final say in whether or not to invest. With asset management, on the other hand, the customer only chooses their desired investment portfolio.

For 500,000 francs of assets and a pure stock portfolio, Sparkasse Schwyz has the cheapest investment advisory at 1500 francs per year. Next in line is the Uno offer from the Basellandschaftlichen Kantonalbank, with 1750 francs of investment advisory fees. Most banks normally pass on the fees charged by funds used to the customer on top of the financial advisory fees.

Table 1: Flat fees for a portfolio worth 250,000 francs

  Stocks:
80-100%
Stocks:
40-60%
Stocks:
0%
Sparkasse Schwyz ETF Mandate
(with/without ESG)
CHF 1875 CHF 1875 CHF 1125
Alpian Managed by Alpian CHF 1875 CHF 1875 CHF 1875
Basellandschaftliche
Kantonalbank
Asset management CHF 2500 CHF 4500 CHF 4500
Piguet Galland Confort asset management CHF 2875 CHF 2375 Not available
Bank Cler Asset management CHF 3000 CHF 3000 CHF 3000
Migros Bank Asset management with direct investments CHF 3000 CHF 3000 CHF 3000
Sparkasse Schwyz Individual title mandate CHF 3125 CHF 2625 CHF 1125
Basler Kantonalbank Asset management CHF 3250 CHF 3250 CHF 3250
Zürcher Kantonalbank Classic asset management CHF 3250 CHF 3250 Not available
Avantage Service (BCGE) Best-of Mandate CHF 3750 CHF 3750 Not available
Basellandschaftliche
Kantonalbank
Managed Fund Portfolio CHF 3750 CHF 3125 CHF 2500
Raiffeisen Futura Global in CHF CHF 3750 CHF 3250 Not available
Valiant Classique asset management CHF 3875 CHF 3375 Not available
Valiant Helvétique asset management CHF 3875 CHF 3375 Not available
Berner Kantonalbank Asset management CHF 3875 CHF 3375 CHF 2875
UBS Manage Advanced CHF 5000 CHF 4375 CHF 2625

 

Table 2: Flat fees for a portfolio worth 500,000 francs

  Stocks:
80-100%
Stocks:
40-60%
Stocks:
0%
Sparkasse Schwyz ETF-Mandat
(with/without ESG)
CHF 3500 CHF 3500 CHF 2000
Alpian Managed by Alpian CHF 3750 CHF 3750 CHF 3750
Basellandschaftliche
Kantonalbank
Asset management CHF 5000 CHF 5750 CHF 5000
Piguet Galland Confort asset management CHF 5400 CHF 4400 Not available
Sparkasse Schwyz Individual title mandate CHF 6000 CHF 5000 CHF 2000
Bank Cler Asset management CHF 6000 CHF 6000 CHF 6000
Migros Bank Asset management with direct investments CHF 6000 CHF 6000 CHF 6000
Basler Kantonalbank Asset management CHF 6500 CHF 6500 CHF 6500
Zürcher Kantonalbank Classic asset management CHF 6500 CHF 6500 Not available
Zürcher Kantonalbank Premium asset management CHF 6500 CHF 6500 Not available
Avantage Service (BCGE) Best-of Mandate CHF 7500 CHF 7500 Not available
Berner Kantonalbank Asset management CHF 7500 CHF 6500 CHF 5500
Raiffeisen Futura Global in CHF CHF 7500 CHF 6500 Not available
Basellandschaftliche
Kantonalbank
Managed Fund Portfolio CHF 7500 CHF 6250 CHF 5000
Valiant Classique asset management CHF 7750 CHF 6750 Not available
Valiant Helvétique asset management CHF 7750 CHF 6750 Not available
UBS Manage Advanced CHF 9750 CHF 8250 CHF 5000

 

Table 3: Flat fees for a portfolio worth 1 million francs

  Stocks:
80-100%
Stocks:
40-60%
Stocks:
0%
Sparkasse Schwyz ETF Mandate (with/without ESG) CHF 6500 CHF 6500 CHF 3500
Alpian Managed by Alpian CHF 7500 CHF 7500 CHF 7500
Basellandschaftliche
Kantonalbank
Asset management CHF 10000 CHF 11500 CHF 10000
Piguet Galland Confort asset management CHF 10500 CHF 8500 Not available
Bank Cler Asset management CHF 11000 CHF 11000 CHF 11000
Migros Bank Asset management with direct investments CHF 11000 CHF 11000 CHF 11000
Sparkasse Schwyz Individual title mandate CHF 11500 CHF 9500 CHF 3500
Basler Kantonalbank Asset management CHF 12000 CHF 12000 CHF 12000
Zürcher Kantonalbank Premium asset management CHF 12000 CHF 12000 Not available
Zürcher Kantonalbank Classic asset management CHF 13000 CHF 13000 Not available
Avantage Service (BCGE) Best-of Mandate CHF 14250 CHF 14250 Not available
Berner Kantonalbank Asset management CHF 15000 CHF 13000 CHF 11000
Raiffeisen Futura Global in CHF CHF 15000 CHF 13000 Not available
Basellandschaftliche
Kantonalbank
Managed Fund Portfolio CHF 15000 CHF 12500 CHF 10000
Valiant Classique asset management CHF 15500 CHF 13500 Not available
Valiant Helvétique asset management CHF 15500 CHF 13500 Not available
UBS Manage Advanced CHF 18500 CHF 15500 CHF 9500

 

Table 4: Investment advisory fees for a portfolio worth 500,000 francs

  Stocks:
80-100%
Stocks:
40-60%
Stocks:
0%
Sparkasse Schwyz Investment advisory CHF 1500 CHF 1500 CHF 1500
Basellandschaftliche
Kantonalbank
UNO investment advisory CHF 1750 CHF 1750 CHF 1750
Sparkasse Schwyz Plus investment advisory CHF 2750 CHF 2750 CHF 2750
Basellandschaftliche
Kantonalbank
DUO investment advisory CHF 2750 CHF 2750 CHF 2750
Piguet Galland Smart investment advisory CHF 3500 CHF 3500 Not available
Alpian Guided by Alpian CHF 3750 CHF 3750 CHF 3750
Postfinance Plus investment advisory CHF 4000 CHF 4000 CHF 4000
Basler Kantonalbank Excellence investment advisory package CHF 4000 CHF 4000 CHF 4000
Bank Cler Excellence Plus investment advisory package CHF 4250 CHF 4250 CHF 4250
Zürcher Kantonalbank Classic investment advisory CHF 4750 CHF 4750 Not available
Basellandschaftliche
Kantonalbank
TRIO investment advisory CHF 4750 CHF 4750 CHF 4750
Zürcher Kantonalbank Premium investment advisory CHF 5500 CHF 5500 Not available
Valiant Professional CHF 6250 CHF 5250 CHF 4250
UBS Advice CHF 8500 CHF 7500 CHF 5000

 

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Funds

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  • Special offer with CHF 200 welcome bonus

  • No prior knowledge necessary: Advice from experts

  • One of the 10 largest asset managers worldwide

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  • Favorable foreign exchange rates

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  • Special offer: Reimbursement of brokerage fees up to CHF 200 for 90 days

  • Licensed Swiss bank (FINMA)

  • Free expert research and trading signals

Gold subscription

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  • Secure CHF 20 starting credit with the ML24 voucher

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