“We do not offer standardized solutions, but we develop the solution that best fits each client individually.”
An interview with Robert Tschiemer, Partner ZWEI Wealth
You became partner at ZWEI Wealth. What made you join ZWEI Wealth initially?
Our company represents everything that I expect of a long-term commitment: entrepreneurship, a dynamic environment, collaboration, innovation, and great people. ZWEI Wealth also conveys the values that I strongly believe in. My original idea was to start my own business, but after ZWEI Wealth caught my attention, I realized that I would like to help develop this business together with our founders and partners.
How would you describe good wealth management?
I regard simplicity and transparency as two necessary conditions that modern wealth management must possess in order to claim for itself to be client focused. Everybody is trying to sell transparency these days – but often they fail because they try to get around fairly obvious yet very relevant questions. We will not allow that to happen. Simplicity on the other hand has got nothing to do with limitation of services. In fact it just means that we reduce complexity at the touch point with the client in order to make everything comprehensible.
How do you achieve that?
It requires seamless collaboration between all service providers, such that clients can remain focused on what really matters to them. Clients should find a service to be as intuitive, comprehensible and easy to use as possible. We want our clients not only to feel understood, but also to have understood. After all, they are not purchasing our services just for themselves but also for the ones that matter most to them. Or in the case of professional investors, because they are accountable to their stakeholders for the investment decisions that they make.
You are also focusing on alternative investments, sustainable investing and other trending topics. What is your motivation?
The world of investing is full of ever-changing themes, but often these are backed more by marketing effort than by tangible value. It is important not to take everything at face value but to dig deeper and question the value proposition. For example, investments in private equity and private debt have gained a lot of attention lately, while hedge funds have long established themselves in the public perception of alternative investments. Such investments need to be approached with caution as they are not very transparent and exhibit high transaction costs.
It is easier to address the performance drag of such investments in very large portfolios, which is why they can be attractive to large investors. In small portfolios it is more difficult to find cost-effective and successful ways of investing in this space.
We want our clients not only to feel understood, but also to have understood.
Robert Tschiemer, Partner
What is the big advantage for a client working with ZWEI Wealth?
We are providing our clients with entirely new opportunities in a trustworthy environment, such that they can delegate the management of their assets even more easily and more successfully. Private clients can now achieve a service level that in the past was only available to professional investors and the wealthiest of private individuals. Institutional investors have long had demanding requirements in their investment plan, and they have been conducting intensive asset manager selection processes as well as regular and thorough performance reviews, during which they evaluate whether objectives have been met.
You spent several years working for a large institutional investor. In which areas do you see such clients getting the most value out of ZWEI Wealth?
Simply put, we had implemented the My ZWEI system principles at my former company. That is why I could immediately identify with my new role. Asset manager selection in particular is an area where we can add value with our tender platform that contains more than 300 providers, which allows for a wider access to a universe of banks and asset managers with carefully monitored track records. Our platform is open and free of charge for all providers, ensuring a truly impartial tendering process and allowing ourselves to remain truly independent – unlike some of the long-established consultants in this field. Furthermore, independent planning and control supports good governance of institutional investors, family offices and charitable trusts. We do not offer standardized solutions, but we develop the solution that best fits each client individually, and we explicitly do not simplify the search down to just obtaining the cheapest or most passive mandates. Hence the value added by the My ZWEI system lies in a structured, understandable yet comprehensive service offering, our broad market access, and our truly independent operating model.
Finally some either or questions:
- Return or Risk? Risk. I prefer to bear well-informed risks over chasing uncertain returns.
- ETF or single stocks? Both. But the choice should be guided by individual needs.
- Apple or Google? Apple. I like client-focused solutions, and I like to pay a fair price for good service.
- Sunrise or Swisscom? Salt!
- Beer or wine? Wine always offers new surprises.
- Cinema or Netflix? At cinemas I will always find things, whereas at Netflix I just keep searching.
- Fast or precise? Fast, but well structured. A structured approach may require a bit more time today, but it saves a lot of unnecessary effort and frustrations in the long run. Some people do not appreciate the difference.