On this podcast episode, the WHVP team sits down together to talk about the U.S. bank crisis and the merger between UBS and Credit Suisse. In addition, the podcast will cover the stability of the Swiss banking system and the differences between the U.S. and Swiss banking industries and systems, and what Americans can do to ensure they select the right banks to partner with. We hope you enjoy it!
Last Thursday news about the need for a government rescue of Credit Suisse were made public. And over the weekend it was announced that UBS will take over Credit Suisse. As you know, it is important to us to communicate clearly and frequently, this is why we would like to shed some light on what‘s going on. The most important thing right away: WHVP has never used Credit Suisse as a custodian bank and has never recommended the bank. Thus, none of our clients have any relations with Credit Suisse and are not affected by what is going on. Now let‘s dive into the issue a bit more deeply and shed some light on what has been happening.
Leading wealth management industry participant, WHVP, has joined the ranks of an elite global group who have been handed the honour of winning a WealthBriefing Award. WHVP were awarded ‘Best Client Communications & Overall Digital Engagement’ and Jamie Vrijhof-Droese of WHVP was awarded ‘Thought Leadership’ and ‘Rising Star Under 40’ at The Third Annual WealthBriefing Swiss EAM Awards 2023.
On this episode of the podcast, the WHVP team sits down with special guest Jessica Schaedler, Leading Trust Advisor at Capital Trustees AG, to discuss the proposed bill to the Swiss government on creating a beneficial owner registry. The podcast will cover what changes have been proposed to the government, what may come from such a change and the opinion on how the Swiss population may react to such a bill. This podcast is a must-listen for anyone seeking a better understanding of the potential impact on the financial industry and individuals with Swiss bank accounts. We hope you enjoy it!
For international day of banks, we wanted to talk about what Swiss private banks offer Americans in terms of safety and privacy for their personal wealth information. The reality is that Swiss bank accounts are 100% legal for Americans to hold financial assets in, and there are some incredible perks that come with having a Swiss investment account as an American. The two benefits we will be focusing on today are safety and privacy.
The Jackson Hole Symposium has drawn a lot of attention because of Jerome Powell's speech in which he re-stated that the Fed will continue to lift interest rates in their fight against inflation. However, some of you may not have seen the inputs of the event given by the Chairman of the Governing Board of the Swiss National Bank (SNB), Thomas J. Jordan. Therefore, it is the intention of this blog to provide you with the highlights of the contribution he made to the event.
For the July issue of the Simon Letter, our Managing Partner Jamie Vrijhof-Droese wrote a piece on Switzerland as a safe haven country during times of crisis. The piece covers what sets Switzerland apart and makes it such a popular country for banking.
Swiss National Day is upon us! So what is the history of Swiss independence and direct democracy? The Swiss gather together on the 1st of August to have grill parties, watch fireworks, and sit around bonfires. But the Swiss are also reflecting and celebrating a unique history that has led the country from poverty to where it is today as a wealthy and prosperous nation.
What is Switzerland like as a financial jurisdiction? Not to worry, we have summed it up in this blog. Numerous factors contribute to Switzerland being an economic powerhouse in the global economy. The country is one that can house not only a thriving economy but balance it with political neutrality and hold the highest standards of financial professionalism all at the same time.
By the end of this blog, you will know in greater detail the challenges and benefits of establishing a Swiss bank account with an asset manager. Transparency is key when establishing a business relationship, because of this, it is our intention to paint a realistic picture for North Americans of the setup, process, and present and future benefits there are of having an offshore bank account with a Swiss asset manager.
In this episode of the WHVP podcast, the WHVP team sits down to discuss On this episode of the podcast, the WHVP team sits down to discuss the Federal Reserve and the Swiss National Bank. The podcast will cover a brief history of the Federal Reserve and the Swiss National Bank, the roles they play today, and a discussion on the most recent Consumer Price Index data. We hope you enjoy it.
On this episode of the WHVP podcast, the WHVP team sits down to discuss everything we love about working with Americans. The podcast will cover a variety of subjects about what we appreciate about American Culture and the people who make up the country. We will also discuss the news of the Swiss Parliament rejecting the motion to revise the Swiss Bank Secrecy Act.
When selecting a financial advisor there are many options an individual can choose from, whether they be an asset management branch of a bank, a private investor, a family office, or an independent investment advisor both domestic or offshore. Since we are based offshore we have already written extensively on why one might choose an offshore jurisdiction for financial services (Switzerland: Safe Haven during Crisis) and also how to choose a financial advisor (How to choose an External Asset Manager for U.S. Citizens). Both of those topics are important and worth spending some time thinking about. However, today we want to delve into what the benefits are of working with an independent registered investment advisor versus being served by the asset management branch of a larger bank.
Managing portfolio risk can be difficult for even the savviest of investors. Investors need to remember that markets can be turbulent and that preparing for potential declines is essential. There can be a strong temptation to pull out of markets when they become volatile. However, instead of acting on this temptation, it may be smarter to adjust your investment approach. By remaining flexible, you might be able to take advantage of opportunities while managing risks. These risk management basics can help.
Having conflicts and wars going on somewhere around the world is not unusual. The Correlates of War Project states that there has been no year without war since 1816. We would like to take the opportunity to share our perspective on the effect this war has on Switzerland’s economy paired with some historical insights about how Switzerland managed to navigate through previous wars and conflicts as well as potential investment opportunities that arise from the situation.
This episode talks about Jamie’s background in wealth management and banking in Switzerland. Potential international solutions for US investors. Typical funding requirements when it comes to Swiss banking. What to consider before investing in Switzerland or other offshore places? The importance of relationship building and trust in wealth management. Asset protection using Swiss banking products/methods? A brief overview on the taxation of international accounts for US investors. Typical fees when it comes to investing in a Swiss account. Could you borrow against your Swiss Bank funds by leveraging it as collateral? What are the typical rates of return on a Swiss investment (example of one type of investment) account? Can you use a self-directed IRA to own a Swiss account? Do we convert US dollars into other currencies when investing offshore? If so, what are the advantages of doing so? How does one measure the strength of the US dollar? Do you have to physically go to Switzerland to open a Swiss bank account?
Over the last few weeks, the G7 committee laid out plans to impose a minimum corporate tax rate of 15%. Companies looking to attract investors and minimize their tax burden have been able to find countries willing to give them a lower tax rate; this, in turn, helps the company grow and maintain value. Switzerland is one of the countries that attracts companies to its economy by using competitive tax rates. It is part of what makes Switzerland's economy so strong and competitive. Even though the Swiss government plans to sign on to the agreement for a global minimum tax rate, they are developing a subsidies plan to encourage the larger corporations to stay.
In this episode, David Warren – Co-Founder and Chairman of the Board of Bridgeford Trust Company and President/CEO of Bridgeford – sits down with guest, Jamie Vrijhof-Droese – Managing Partner at WHVP – for a discussion on WHVP’s origins, focus, and services as well as their work with U.S. citizens. David and Jamie go on to discuss the COVID crisis and its impact on their investment approach.
Featuring: David S. Lesperance, Founder, Lesperance Associates, Urs Vrijhof-Droese, Managing Partner, WHVP (in Switzerland) & Allan Maksymec, Partner, Strategic Swiss Advisors.
The Swiss financial market supervisory authority released a statement last month confirming the stability of Swiss banks. In the statement FINMA notes that "the operations of financial institutions and the financial market infrastructure in Switzerland are continuing to function well. The institutions are also well equipped to deal with extreme stress scenarios."