Custodian banks as a strategic success factor for intermediaries
The independent wealth management sector in Switzerland is undergoing profound change. The latest WealthSummit study, «Independent Asset Managers in Switzerland 2026», reveals that regulatory requirements, digitalisation, a shortage of skilled workers, and succession issues are having an increasingly significant impact on the sector. At the same time, clients’ expectations regarding advice, transparency and international services are rising. Against this backdrop, a question that was long viewed primarily from an operational perspective is gaining in importance: What role does the custodian bank play in the long-term success of an intermediary?
Our experience shows that successful intermediaries today need far more than just an asset safekeeping provider. They need partners who can offer regulatory expertise, technological capability, international reach and personalised support. At the same time, the ability to respond to individual requirements is becoming increasingly important. Business models among external asset managers are becoming more diverse and specialised, and demand for bespoke solutions that go beyond standardised services is rising accordingly.
However, this customisation requires custodian banks to have a precise understanding of their partners' needs and challenges. Therefore, in addition to professional and technological expertise, proximity to the market and to the intermediaries themselves is becoming a decisive factor for success.
A bank’s local presence is particularly important in the intermediaries business. Asset managers often support their clients for decades, providing advice on complex matters relating to wealth, corporations and succession. It is therefore vital to have a financial partner with a local presence who understands their business model and can provide the necessary infrastructure and expertise.
The Swiss market poses particular challenges in this regard. It is globally oriented, subject to stringent regulation, and characterised by intense competition. Banks, in turn, must reconcile regulatory and technological requirements with personalised service and agility. While very large institutions often rely on standardised processes, smaller providers sometimes struggle with investment and resources.
VP Bank (Switzerland) AG’s strength lies precisely in this area of tension. Our size gives us the necessary agility, while our clear focus on intermediaries sets our direction. This enables us to combine investment in technology and regulatory expertise with personalised support and swift decision-making.
Selecting a custodian bank is rarely a short-term decision, but rather the foundation of a long-term partnership. A bank’s stability is therefore also crucial. Continuity and reliability in client support are thus key factors.
The challenges facing the industry will persist into the future and the operating environment will continue to evolve. At the same time, many intermediaries wish to focus on their core competence of providing personalised advice and support to their clients. Consequently, the custodian bank is becoming an increasingly important strategic factor for success. It is not merely the quality of individual services that matters, but also the ability to combine expertise, stability, bespoke solutions and efficient collaboration. We see our role as a partner to intermediaries precisely in this area: offering solutions tailored to the needs of our partners and their clients, and supporting them in achieving long-term success.
Thus, the custodian bank is evolving from an operational service provider into a strategic success factor and a partner that will support intermediaries in successfully serving their clients well into the future.
