The Cost of Swiss Asset Management

The short-lived advertising buzz around savings accounts may have died out, but advertising for asset management services is going strong. That is hardly surprising, as managing assets for wealthy customers is always lucrative for banks, regardless of interest rates.

For its 2025 asset management study, moneyland.ch analyzed the asset management fees for three different investment strategies. 

The results show that on average, conventional Swiss asset management and investment advisory services are much more expensive than asset management services offered exclusively online. But costs vary substantially between conventional asset management offers. “Depending on the investment strategy used, the most expensive asset management offer can cost up to four times as much as the cheapest mandate,” says moneyland.ch expert Benjamin Manz. Because the differences in pricing are so big, comparing offers is essential. It is worth noting that asset management fees are sometimes negotiable, depending on your wealth and the bank in question. It can be beneficial to ask whether fees are negotiable.

Asset management fees average 1.28 percent

An conventional asset management mandate for 250,000 francs using a pure stock portfolio costs 3212 francs in asset management fees per year, on average. That is equal to 1.28 percent of the managed assets each year. Note that the asset management fees do not account for other possible costs like currency exchange, taxes, stock exchange fees, and fees charged by funds. In many cases, the fees charged by funds used for investments add a cost nearly as high as the asset management fees.

Asset management services that are only offered online - sometimes referred to as robo advisors - are generally cheaper than conventional asset management from banks. Comparisons carried out by moneyland.ch show that many online-only asset management services charge less than half as much as conventional banks. Hybrid models that complement apps and portals with personal consultation are also gaining traction.  

The stock component determines the cost

The rule of thumb that the size of the stock component determines the asset management fees still applies at many banks. Investing 1 million francs in a stock portfolio (80 to 100 percent stocks) costs 12,286 francs per year, on average. That is equal to around 1.23 percent of the managed assets. The fees for investing the same amount in a portfolio with a stock component of 40 to 60 percent average 1.14 percent per year, while fees for a portfolio without any stocks at all average 0.86 percent per year.

These are the cheapest asset management mandates

There are big differences between the asset management mandates included in the analysis with regards to their fees (see tables 1, 2, and 3). Of the banks included in the analysis, the Sparkasse Schwyz, Alpian, and Bank BSU are the most affordable. UBS did not provide moneyland.ch with its fee schedule this year. In 2024, UBS was among the most expensive asset management providers.

For asset management with a large stock component and an entrusted amount of 250,000 francs, the asset management fees range between 1875 and 3875 francs per year. The fees for portfolios without any stock component range between 1125 and 3250 francs. The cheapest service providers for a portfolio worth 250,000 francs are the Sparkasse Schwyz and Alpian.

For asset management with a large stock component and an entrusted amount of 1 million francs, the asset management fees range between 3500 and 7750 francs per year. The fees for portfolios without any stock component range between 2000 and 6500 francs. Of the analyzed service providers, the cheapest bank for investing more than half-a-million francs is the Sparkasse Schwyz, followed by Alpian and Bank BSU.

For amounts larger than 1 million francs, the fees for a portfolio with a large stock component range between 6500 and 15,500 francs. For a portfolio without any stocks, the asset management fees range between 3500 and 12,000 francs. The cheapest Bank for this profile is the Sparkasse Schwyz, followed by Alpian and Bank BSU. 

These are the cheapest investment advisory services

Unlike asset management, investment advisory services simply make recommendations for investments. You as the customer can choose which of these you want to invest in, and also continue to have a say in the makeup of your investment portfolio. It is important to note, though, that the exact definition of investment advisory can vary somewhat between different service providers. 

For a pure stock portfolio worth 500,000 francs, Bank BSU has the cheapest investment advisory service, with fees totaling 1250 per year. Next in line are the investment advisory offer from Sparkasse Schwyz (1500 francs) and the Valiant Sélect offer from Valiant Bank (3000 francs per year). You should be aware though, that you may incur additional costs, such as fees charged by fund managers. Brokerage fees are also not always included in the investment advisory fees.

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