Employed asset managers (without private clients) have a yearly salary of ca. 120,000 CHF – 150,000 CHF.
If they bring their own clients from the bank they previously worked for to the new employer, they will make much more money depending on the number of assets under management they can transfer to the employer.
At what salary do I need a financial advisor?
For people having small salaries (50,000 EUR – 100,000 EUR per year) I suggest booking a financial advisor on an hourly basis, just for a couple of hours, and, from time to time reviewing the portfolio.
How much does it cost to talk to a financial advisor?
You can book one for ca. 300 CHF/h. It is definitely worth it. Receiving impartial advice is key to preventing costly mistakes.
If you deposit 1 million CHF with a Swiss bank, and you hire an honest Swiss financial advisor, you should not pay more than 12,000 CHF (=1,2%), an all-in fee per year, including bank and independent financial advisor.
How much does an independent financial advisor make?
The income depends on the number of assets under management. The majority of firms, among the 2,500 asset management firms in Switzerland, are small boutique firms with 100 million assets under management, on average.
The more assets they manage the more money they will earn. If they have their own clients the salary is much bigger depending on the number of assets under management they can introduce to the employer.
Is an independent financial advisor worth it?
An independent financial advisor will bring transparency to the intransparent Swiss private banking industry. The risk of receiving low-quality advice from product pushers can be drastically reduced with an honest financial advisor.
Educate yourself before you hire an asset manager. Check the track record based on genuine bank statements. Do not rely on excel sheets only. Counterfeit charts are often used to convince non-resident investors. A good advisor will help you to become familiar with the industry. Your invested money will come back twice.