Cost control 2023
In the months of February and March, cost controls for ZWEI Wealth Office clients take place. This involves reviewing the actual costs charged by banks, asset managers, and the products used, and renegotiating them if necessary. An exercise that is worthwhile, as mistakes are abundant!
Banks and asset managers do not typically provide a comprehensive breakdown of costs. Although clients receive individual statements throughout the year, there is no actual overview created. Additionally, there are numerous fees for which no statement exists but are calculated differently (e.g., product fees, FX fees). ZWEI Wealth has been establishing a new standard for clients with a Wealth Office for years.
The cost standard of ZWEI Wealth
ZWEI Wealth Office annually creates a cost control for its clients (see example). The costs are recorded based on the actual costs incurred in absolute amounts and compared with benchmarks. The comparison to the budget indicates whether the bank or asset manager has adhered to the specifications and agreements. Comparing to the median and benchmark identifies areas where negotiation room exists.
We are happy to create a cost control for you and negotiate fair prices on your behalf. More information available.
The detailed article is available on our knowledge platform, insights.