Millionaires’ Paradise: Schwyz-based Advisers Reveal their Playbooks

Home - Insights - Lifestyle - Millionaires’ Paradise: Schwyz-based Advisers Reveal their Playbooks
by Margaryta Kirakosian 15 Nov, 2016, read the original article on citywire.ch The latest statistics for the 2013 tax year reveal there are 8,976 millionaires in the canton Schwyz, with a total wealth of CHF 77.5 billion. This small but influencial area in the middle of Switzerland has one of the highest concentrations of high-net-worth individuals (HNWIs) in the country. But big money requires good management, and Citywire Switzerland decided to find out what Schwyz-based advisers do to manage millionaires fortunes. Pierre Gabris, partner at Alpen Partners International, said millionaires are attracted to Schwyz for the same reasons they are attracted to Switzerland: business-friendly environment, security, attractive taxation, positive entrepreneurship spirit, and education. ‘Many HNWI in Schwyz are still active, either as employees of companies, entrepreneurs or shareholders. Their needs are more interesting than those of fully “retired” HNWIs.’ Gabris said active HNWIs might be interested in hedging their holdings or may need to relocate professionally. Another crucial issue, Gabris said, is succession and wealth transfer. ‘Families become increasingly more international, legal risks are increasing and therefore there is a lot of work and value to add in that field.’

Millions to millions

Stefan Hiestand, CEO of a Pfäffikon-based AgaNola said high net worth individuals are interested in cross-generational wealth preservation but at the same time they keep looking for promising opportunities. ‘For a financial services provider it is key to understand multifacetedness of clients’ needs and be able to provide appropriate and customized solutions while offering competitive fees.’ Hiestand said trust is the prerequisite of a longstanding relationship with an HNWI client, each of whom is unique in his or her personal situation and life plan. His firm AgaNola, for instance, aims to develop customized solutions, leveraging its convertible bonds expertise and consulting clients’ investment committees. ‘We provide these committees an independent assessment, relevant investment and risk management reports, enabling them a comprehensive overview of their chosen asset managers.’

Hunt for value

Jan Dwarshuis from Pfäffikon-based Thirteen Asset Management is also advocating customized solutions and his firm works with specific mandates based on the demands of the HNWI plus offers a wide range of family office services. ‘These tailor-made asset management mandates can be interesting for HNWIs or families as their needs and risk profile come first. We don’t do standard profiles or portfolios.’ Dwarshuis said another attractive area for investors is the firm’s focus on value investing. ‘We approach the market differently than usual and see opportunities when others advise to sell, and the media is talking doom and gloom. In fact, we will invest even more aftermarket corrections and sell at the top of the markets.’ He added that his firm is a concentrated investor, which means that it invests in a limited number of companies, usually between 10 and 15. ‘Before we invest and analyse the business model we use a checklist of around 148 pages. Finding a good investment on the basis of value investing is thus – especially in the current era – no sinecure.’ Dwarshuis said his firm still has space to work with additional families and HNWIs. ‘It is not our ambition to be the biggest. Maintaining a long-term relationship with our customers, instead, is key to our value investing philosophy.’ All investments involve certain risks. All investments carry the potential for financial loss, including the loss of the principal amount invested. Past performance should not be viewed as an indicator of future results. Market conditions and broader economic factors can significantly impact the value of investments. Investments in international markets are subject to additional risks, such as currency exchange fluctuations, political or economic instability, and variations in accounting practices. Alternative investments, including but not limited to hedge funds, private equity, and real estate, may be illiquid, speculative, and are not suitable for all investors. The above information should be considered before making any investment decisions. All posts and publications are for your information only and are not intended as an offer, promotion, or solicitation to buy or sell any financial instrument or perform any other financial transactions. All information and opinions expressed in posts and publications reflect our current views as of the date of the publication and may be liable to change without notice.

Interested? Contact us now

Overview

Have any questions?
We are your partner to find the best private bank.
No matter the problem, Alpen Partners International will handcraft a solution for you. We know that there is no one-size-fits-all when striving for financial success. Our approach involves working with our clients to make a unique plan to meet their needs. Rest assured that we will work hard to guide you through the process of meeting your financial and personal goals.

Contact us to enhance your financial plan today.

GDPR Privacy Policy: This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.