Famed for its political neutrality, Switzerland is the world’s largest wealth management centre for international assets, according to Deloitte Wealth Management Centre Ranking.
The ranking analysed global wealth management centres by size, performance, and competitiveness, placing Switzerland ahead of many thriving wealth management hubs, including the UK, USA, and Singapore.
So, what makes Switzerland the uncontested global leader? Let’s look at some of the benefits that are attracting international investors:
Like Singapore, the Swiss wealth management hub benefits from high political stability, which has become increasingly important in a world of uncertainty. However, Switzerland outperforms Singapore to provide superior customer service and digital expertise, thanks to its highly skilled workforce.
“Digital tools and excellent advisory experience are what our international clients are looking for when choosing a location to invest their assets,” said James Turner, Director at company formation specialists, Turner Little.
“Switzerland’s economy is also incredibly strong, which is reflected in the strength of its currency. Furthermore, recent surveys have confirmed that the Swiss population has no interest in being part of the European Union, meaning Switzerland is independent of the financial turmoil affecting some European banks,” he adds.
Zurich, Switzerland’s largest city, is a major international financial centre and one of the wealthiest cities in the world. Geneva is a city that brings together financial strength and humanitarian work, making it home to the United Nations Office. And Basel is another leading city in the financial services industry, specialising in private banking, risk capital and insurance.
But Switzerland’s powerhouse doesn’t stop there. In the last few years, the small town of Zug has become the “Crypto Valley”, with active connections to international centres of blockchain innovation. This places Switzerland as one of the world’s top financial technology (fintech) hubs.
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