Note: If you feel you can benefit from a detailed overview of the conditions and fees attached to Swiss robo advisors, just request a free copy here (as a PDF).
Get clear information about Swiss digital asset managers (robo advisors) in this moneyland.ch guide.
In Switzerland there are the following digital asset managers (also called robo advisors):
You can request a comprehensive overview of Swiss Robo Advisors as a PDF using the field below.
Robo Advisors are the current trend
The term robo advisor is somewhat misleading because these services have nothing to do with physical robots and often don't provide consultation. Instead, robo advisory services automate the process of investing money on behalf of investors.
Postfinance E-asset management (1.3 billion Swiss francs of assets under management), True Wealth (more than 1,5 billion Swiss francs of assets under management) and Swissquote (more than 400 million francs of assets under management) are among the largest Swiss robo advisors in terms of assets under management. The digital offer from VZ Vermögenszentrum manages more than 2 billion francs in assets, but is not a typical robo advisor.
However, the portion of total assets managed by robo advisors is still relatively small, and many robo advisory services have not yet reached profitability.
But while Robo Advisors have not yet achieved wide adoption, they have served to put the high costs of conventional asset management under pressure. With the increasing digitization of everyday life, wealth management is also moving towards digital and hybrid models.
How it differs from conventional wealth management
Unlike conventional asset management services which require large amounts of investment capital, digital asset management services can be obtained starting with investment capital as low as 500 francs (findependent, Swissquote Invest Easy), 1000 francs (cleverinvest), 2000 francs (Selma Finance) or 8500 francs (True Wealth).
The majority of investments are automated, often in exchange-traded funds (ETFs). However, some digital asset managers also invest actively. Risk capacity and risk tolerance of investors is determined through digital questionnaires and assets are invested in ETFs based on the information provided. The investment consultation provided by conventional asset managers is not normally provided by robo advisory services. Hybrid models are an exception to the rule. These combine online services and consultation.
There is no doubt that Swiss robo advisors are notably cheaper than conventional private banking services. Depending on the amount of assets being invested and your investment profile, the cost of using a robo advisor can work out up to ten times lower than that of using the most expensive private banking services.
Buying shares in ETFs directly through an affordable online broker is an even more affordable option.
Digital wealth management with and without investment advice
All Swiss robo advisors can be contacted by phone for general questions. Only a minority, however, offer contact options directly via app or video call.
Most Swiss robo advisors do not offer investment advice. The lack of investment advisors is therefore also a distinguishing feature compared to traditional wealth and asset management. From the point of view of many digital wealth managers, however, investment advice is not necessary due to the digital investment process and is merely an unnecessary cost factor.
For customers who nevertheless want digital asset management with advisors, there are now also a few offers in Switzerland. In such so-called «hybrid» models, in addition to the digital app, there is also the option of receiving advice from real people. Providers with investment advice include Alpian, Descartes Finance, Digifolio (BLKB), PostFinance e-asset management, Selma Finance and volt (Vontobel).
Flat fees compared
Swiss robo advisors do not charge fees for the opening and closing of accounts. Retrocession fees (commissions) are either absent or, if present, are forwarded to investors.
Together with product issuer fees, flat fees are the most significant fees charged by digital service providers. Practically all Swiss robo advisors charge flat fees equal to a percentage of managed assets.
These flat fees generally cover brokerage fees, transaction fees and custodial fees. Government transaction duties and value added tax are typically charged separately. With individual providers such as Inyova, the product costs are also included in the flat fees.
Flat fees can vary significantly depending on the provider.
Comparison of flat fees with investment advice
Some digital providers offer additional investment advice - this is also referred to as a «hybrid model». These offers are somewhat more expensive than the cheapest robo advisors without investment advice.
Product issuer fees
Practically all digital asset management services pass on the costs charged by issuers of investment products in addition to the flat fee you pay for the service. Most commonly, product issuer fees are made up of the TERs of the ETFs included in the investment portfolio. On average, product issuer fees come to between 0.18% and 0.45% per annum. For some products, however, the fee is well over 1% and is thus more expensive than the flat fee charged by other providers.
With some providers, the product fees are included in the flat fees (Inyova).
Exchange rate costs can also be a factor when investing in foreign currencies. These can amount to up to 1.5%.
An overview of the product costs and the exchange rate surcharge depending on the Robo Advisor can also be found in the PDF (via the box below).
In the case of conventional private banking services, product issuer fees are normally charged in addition to asset management fees. The fees charged by actively managed mutual funds are typically much higher than those charged by ETFs.
Cost overview digital asset managers without advisory
Provider | Flat fee | Product issuer fee (TER) | Total costs |
---|---|---|---|
clevercircles | 0.65%-0.25% | 0.20% (average) | 0.85%-0.45% |
cleverinvest |
0.50% | 0.35% (average) | 0.85% |
findependent | 0.4%-0.29% | 0.18% (average) | 0.58%-0.47% |
Inyova | 1.2%-0.9% | Included | 1.2%-0.9% |
Kaspar& | 0.44%-0.34% | 0.25%-0.4% (average: 0.32%) |
0.84%-0.69% |
Radicant | 0.9%-0.5% | 0.4%-0.47% |
1.37%-0.9% |
Raiffeisen Rio | 0.65% | 0.25%-0.4% (average 0.32%) | 0.95%-1.25% |
Swissquote Invest Easy | 0.6% | 0.14%-0.21% (average) | 0.74%-0.81% |
True Wealth | 0.5%-0.25% | 0.13% (average) | 0.63%-0.38% |
wiLLBe (LLB) | 0.49% | 0.25%-0.5% | 0.74%-0.99% |
Cost overview digital asset managers with advisory
Provider | Flat fee | Product issuer fee (TER) | Total costs |
---|---|---|---|
Alpian | 0.75% | 0.25% (average) | 1% |
Descartes Finances | 0.45%-0.65% | 0.25% - 0.5% | 0.7%-1.1% |
Digifolio (BLKB) |
0.75% | 0.28% (average) | 1.03% |
Finpact | 0.65%-1.35% | 0.17%-0.81% | 0.82%-2.16% |
Postfinance | 0.75%-0.6% | 0.25%/0.4% (average) | 0.85%-1.15% |
Selma Finance | 0.68%-0.42% | 0.22% (average) | 0.9%-0.64% |
volt by Vontobel | 0.96%-0.8% | 0.38% (average) |
1.34%-1.18% |
Additional fees
Not all fees are included in the flat and product fees. The following fees may be added:
Different products
As a rule, digital asset management services invest in passively managed mutual funds known as exchange traded funds (ETFs). Swiss robo advisors typically use replicating ETFs from large ETF issuers like iShares, including synthetic ETFs in some cases. Exchange traded commodities (ETCs) are sometimes used for commodity investment. Some services also allow you to add individual securities to your portfolio.
How secure are digital asset management services?
Assets invested through robo advisor services are held in a custodian bank, and benefit from the same depositor protection guarantees as other assets held in banks.
In the case of True Wealth and Selma Finance, assets are held at Saxo bank (Switzerland). Robo advisor services operated by banks hold assets at their corresponding bank. Assets managed by Swissquote are deposited at Swissquote as its own custodian bank.
Unlike money, securities such as ETF shares are not included in bankruptcy proceedings when a custodian bank fails but remain the property of investors. Money held in custodial accounts is guaranteed up to a maximum of 100,000 francs. In the case of Simplewealth, invested assets are deposited in the U.S. with Interactive Brokers.
More on this topic:
Online broker comparison
Private banking comparison
Note: If you feel you can benefit from a detailed overview of the conditions and fees attached to Swiss robo advisors, just request a free copy here (as a PDF).
Choice of digital asset managers
Choice of digital asset managers
Findependent
Up to CHF 2000 free of charge
Low-cost ETF
Sustainable investments
Managed by Alpian
Unlimited access to wealth advisor
No additional bank account charges
Customized portfolios
Selma
Digital financial assistant
Free investment plan
Free test account
True Wealth
Free test account
Flat fee: 0.5% - 0.25%
Inexpensive ETF
Bank CIC cleverinvest
Digital asset manager
Flat fee of 0.5%
Already from CHF 1000
Findependent
Up to CHF 2000 free of charge
Cheap bank accounts with card
Cheap bank accounts with card
Bank WIR Bankpaket Top
Free account & card
No exchange fees for foreign payments (interbank exchange rates)
24 ATM withdrawals worldwide per year free of charge
Radicant
High interest on your everyday account
Best exchange rates
Up to 1% of card spending as saveback in the investment portfolio
Yuh
No account fees
Banking partner: Swissquote & Postfinance
CHF 20 trading credit with code «YUHMONEYLAND»
Alpian
CHF 100 welcome bonus
Favorable foreign exchange rates
Multi-currency account with Visa card (CHF, EUR, USD, GBP)
UBS key4
50 KeyClub points as a welcome gift
Online private account with debit card
Swiss wealth managers
Managed by Alpian
Unlimited access to wealth advisor
No additional bank account charges
Customized portfolios
Bank CIC cleverinvest
Digital asset manager
Flat fee of 0.5%
Already from CHF 1000
PostFinance E-Investment Management
Digital wealth management
From CHF 5000
Direct opening possible