As the proud sponsor of the award recognizing the top 50 IAMs across Switzerland (details here), we would like to give you an insight into the daily work of the winning companies. Arleta Więch asked 5 questions to selected 5 IAMs to learn more about their success factors as well as the future of wealth management and the role of wealthtech in the upcoming years. Here’s what she found out.
Steffen Bauke is the CEO of Belvoir Capital AG, an IAM established in 2014 after a merger of BSZ AG Vermögensverwaltung and IFP Independent Financial Partners AG. Its core values are attention, transparency, goal-orientation, innovation, experience, and personal approach.
What is your role at Belvoir Capital? What differentiates your company from other EAMs?
As the CEO and founder of Belvoir Capital, I take the responsibility to lead our business to new dimensions of wealth management. Our key differentiator is our tech-driven aim for innovation as a leader in the industry with sustainable services. We clearly follow our path towards ESG and impact investments. We abandoned all “dirty industries” from our investment policy since 2018.
How has wealth management changed since you started working in the industry?
Some 20 years ago, investment decisions were simple and had to be made between bonds, cash and equities. Today, we work in a much broader, more complex and more diverse investment environment. The challenges these days are much higher and changes happen much faster. Analysing, selecting and investing alongside the risk spectrum all the way from early stage VC investments to Private Equity, private debt, complex debt or equity strategies or hedge fund ideas, we need more resources and know how to come up with a clear solution.
Focus is more key than ever before. Fundamentals play a minor role compared to megatrends and general tectonic shifts in the economy.
You are one of the top 50 IAMs across Switzerland and Liechtenstein. What do you believe to be your success factors?
Never give up! Always stay ahead of the curve and be transparent to our clients and business partners at all times. We work as a team and try to build a community of trust with our clients.
What were your major challenges in 2020? Were they rather strategic or operational?
Our main challenges in 2020 were the heavy market movements caused by COVID-19 plus travel and meeting restrictions of our clients throughout the year. Thanks to our cloud-based IT infrastructure adopted already in 2015, we were able to work remotely in a decentralized manner and constantly interact with our clients through video calls.
What do you think about the importance of technology in asset management? Is it going to rise in 2021?
Already back in 2014, we realized that technology is a key driver for changes in the industry. Hence, 2021 will be a year with even more focus on technology and digitalization in our sector. Those who do not (or cannot) follow this path will be wiped out from the market in the next years either by increasing costs or by losing clients.
The next generation of clients is much more tech-demanding than older asset holders.
5 to Top 50 is a series of interviews where we ask 5 questions to selected top 50 IAMs across Switzerland. For live updates on the rest of the interviews, follow our LinkedIn profile.