Protect family wealth
Hera* is the oldest of three siblings. After her father died eight years ago, she assumed responsibility for managing around CHF 35 million in family assets. Her two sisters prefer to have as little as possible to do with thisthe management of the wealth. This does not make things easier for Hera.
In recent years, Hera has often experienced difficulties in dealing with her banks and asset managers. Her contacts changed all the time, adjustments were proposed and she felt increasingly lost when dealing with her portfolios. One day she turned to ZWEI Wealth for advice.
Our appraisal of the situation did generate a pretty picture. Hera’s portfolios were poorly structured, poorly aligned and full of expensive products. Her returns were too low, having declined by around CHF 2.5 million in recent years, while management costs were around CHF 840,000 annually, yet Hera was not even aware of this. During the two following months, ZWEI Wealth developed a portfolio architecture meeting the needs of Hera and her family. Based on this, ZWEI identified the best suitable banks and wealth managers in a tender process and implemented this new solution.
« I never would have thought that everything could become so much easier and more successful so quickly. Thank goodness there is finally an independent authority like ZWEI Wealth. »
Facts & Figures
- Assets of CHF 35m
- Reduced complexity: Number of banks reduced from four to two
- Received offers from 25 banks and wealth managers
- Four new wealth managers nominated for special mandates. Expert managers improved the implementation of the strategy.
- Investment committee established: Today Hera is still in charge, but she is strongly supported by an investment committee.
- Total costs reduced from CHF 840,000 p.a. to CHF 370,000 (including ZWEI Wealth’s fees)
* Name changed
This is a case study of a real-life client case.