Since 2023, independent asset managers and trustees in Switzerland need a licence from FINMA and are supervised by an authorised supervisory organisation. The articles collected here explain the licensing requirements under the Financial Institutions Act, the organisation, capital and insurance a trustee or asset manager needs, the duties of conduct under the Financial Services Act, and the responsibilities of fiduciaries who administer companies and serve as directors. They are written for trustees and fiduciaries, and for families and companies who want to know what they can expect from a licensed Swiss provider.
Since 2023 trustees and independent asset managers in Switzerland need a licence from FINMA and are supervised by an authorised supervisory organisation. Families and companies can therefore expect a Swiss trustee to meet defined standards of organisation, capital, insurance and conduct, and can verify that a provider holds the required licence before entrusting it with assets.
The licensing regime is set out in the Financial Institutions Act and its implementing ordinance. Licensed trustees must have an appropriate organisation, qualified management, a minimum capital and professional indemnity insurance or equivalent security, and they are subject to the Anti-Money Laundering Act. For clients this means that a register of licensed institutions can be consulted before a trustee is appointed.
Switzerland has no trust law of its own, yet it recognises trusts established under foreign law through its ratification of the Hague Trust Convention. A Swiss trustee can therefore administer a trust governed by English, Jersey or Singapore law. For families from Asia and the Middle East this combines a familiar common law instrument with Swiss administration and banking.
Before appointing a trustee or a professional director, families and companies should ask practical questions: who will actually make decisions, how fees are calculated, how conflicts of interest are handled, which bank will hold the assets and what happens if the relationship ends. Clear answers at the outset avoid many of the disputes that later reach courts and arbitral tribunals.
The articles explain wealth management under the Financial Services and Financial Institutions Acts, the licensing of asset managers and trustees, professional directorships, and the role of Swiss and Liechtenstein trust companies in administering family structures.