Banking software provider Avaloq surveyed affluent to ultra-high-net-worth private clients as well as industry professionals on wealth management trends. The study also provides a number of interesting insights for the Swiss market.

Swiss Investors Adjusting Strategies

According to the Wealth Insights Report, around 30 percent of Swiss investors adjusted their investment strategies last year, compared with 22 percent the previous year. Of those, 39 percent pursued a more aggressive strategy, and about 37 percent invested additional capital.

More ESG and Crypto in Portfolios

The share of clients investing in ESG products rose to 40 percent, compared with 24 percent in 2024. Likewise, the proportion of investors holding crypto assets climbed to 37 percent, up from 27 percent previously.

Investor trust in their wealth managers is primarily based on expertise, transparency, and communication. Professional risk management and fast, clear responses to inquiries are considered especially important.

Trust Strong, Loyalty Weaker

While trust in advice remains strong, loyalty among Swiss wealth management clients is fading, Avaloq notes. More and more wealthy clients are reconsidering their banking relationships, scrutinizing both fees and service quality.

Client loyalty should not be taken for granted. Four out of five clients (79 percent) believe that their advisor has their personal interests at heart. At the same time, however, trust does not automatically translate into loyalty: Swiss clients are less faithful than the global average. Only 22 percent report never having switched advisors, compared with 31 percent worldwide.

In fact, around 11 percent of Swiss investors have switched banks or wealth managers in the past five years, while another 17 percent are considering doing so.

Costs Are Not the Only Driver

High fees and charges (39 percent) were cited as the main reason for switching, followed by a lack of transparency (38 percent) and weak portfolio performance (32 percent). Seventy percent of Swiss clients said that the growing competition in the financial sector has made them more conscious of how much they are paying in advisory fees.

At the same time, expectations for advisory services are rising overall, including the use of technological tools such as portfolio visualization and personalized investment recommendations delivered directly via e-banking apps.

Clients Warming to AI

Artificial intelligence is another increasingly important factor. Fifty-two percent of clients would welcome AI-driven investment advice, and 46 percent would be open to AI-based portfolio analysis.

Among professionals, 86 percent expect AI to benefit the industry. However, 31 percent believe that clients would not trust AI-based investment decisions, while 43 percent take exactly the opposite view. «This suggests that professionals are underestimating clients’ openness toward AI – while also pointing to a certain degree of hesitation within the industry itself,» the report states.

Demand for Personalization

«Clients continue to value personal advice, but they increasingly expect personalization, transparency, and digital interaction as part of the overall package,» said Georges Roten, Avaloq’s Managing Director for Switzerland and Liechtenstein. «Our study shows that wealth managers can significantly strengthen client relationships if they respond to these expectations.» Meeting them requires the right technological tools combined with advisory expertise.

The study, conducted in February and March 2025, is based on a survey of more than 3'800 affluent to ultra-high-net-worth private clients (including 400 in Switzerland) and 450 wealth management professionals across 15 markets worldwide.