Founded in 2016, the Alliance of Swiss Wealth Managers is a networking platform for larger wealth managers in Switzerland. Why: Wealth managers are significant players in the Swiss financial services industry and are faced with similar challenges as the banks. Goal: the Alliance of Swiss Wealth Managers facilitates a regular exchange of experience and know-how amongst its members and thus seeks to strengthen their position in a demanding environment. The financial services sector in general and the wealth management business in particular have traditionally enjoyed a place of importance in the Swiss economy. Thanks to their continuity and independence and the continuity they are able to ensure in their relationships with clients, wealth managers enjoy the confidence of their customers. The more extensive a client’s assets, the more important it is to minimise additional risk through diversification over a number of custody banks and jurisdictions. Diversification is one of the most important principles for the preservation of assets. However, managing assets of clients' wealth across various banks in different countries is a major challenge and is one of the core competencies of an independent wealth manager. In accordance with the agreed risk profile, investment horizon and the desired investment objective of the customer, the asset wealth manager invests for the client with national and international banks and reports on a regular basis. Employees of wealth managers are often former bank employees who have sought more independence in their decision making and more freedom in their working environment.