My foray into private banking

As per your PM kindly requesting an update.

CS. Portfolio is of course safe. It’s actually well structured and my first priority is to get some other monies invested, not liquidate or transfer existing positions. Some Im just waiting for the dust to settle on the merger.

UBS. Have explored with them a hybrid model, comprising a discretionary direct CHF bond portfolio and their new “myway” hybrid active/passive offering for the equities that would also be comprised of direct holdings. This eliminates the TER and I’ve got them down to a blended 70bp for all-in fees.

Do It Yourself. I’ve opened accounts at both Swissquote and Cornertrader and am piloting some modest equity and bond portfolios there to understand how much of a time commitment it is and whether I can see myself “taking over the tiller”. It’s pretty hard to ignore the 50bp annual saving this would generate, especially as most of the homework on allocation has been done.

UBS. Straight custody account. Non starter, the pricing here is ludicrous compared to the mentioned Swiss brokers, let alone eg IBKR. Custody is 35bp and trades are close to 100bp

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