Independent Swiss Asset Managers Need a New Business Model: Major changes in the independent asset manager industry are forcing custodian banks to adapt. If they don't, they will miss an important business… custodybanks advea independentassetmanagers
Independent asset managers in Switzerland will have to fundamentally rethink their business models. With Finma requirements coming into effect in 2023, and subsequent changes in cost structures which will impact the downstream value chain.
Custodian banks in particular will face cost pressures if they see the intermediary business with independent asset managers merely as a by-product of direct business with wealthy private clients, a study by the Zug-based consulting boutique Advea Entrepreneurial Advisory , concludes. The study was made exclusively available to finews.com.
Still, many players have shied away from changing their custodian banks because such a step has been associated with a high degree of effort, often manual.
«The development of the market for custodian bank services in the B2B context will certainly be more dynamic and customer-oriented in the future. New offerings that help independent asset managers achieve their strategic goals are overdue,» says Adrian Weber, CEO, and co-founder of Advea.The current structural changes in Swiss business and the reactions of custodian banks offer entrepreneurial opportunities and enable innovative cooperation models.
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