Newcomer - my story

Hello everyone!

I’m new here, I’ve taken the chance to use my free time lately to study my financial situation and make necessary changes and thanks to you I’m in my way to improve.

So quickly in 2 words, I’m 40 and live in Vaud. Poor choices led me to: 3rd pillar not invested, TradeDirect broker, stock picking, 1 bank account in France, and worse of all a mortgage at UBS.

I’ve divided my journey in small steps and I will update my post in the future:

1. Close the account in France and replace by Neon

  • Banque Populaire - contacted
  • Neon - requested

2. Replace Cler by Zak

  • Cler - contacted
  • Zak done, used the code ONLYMP :+1:

3. Open Frankly

  • Sent 2 Cler accounts to Frankly: done
  • Send 1 BCV account to Frankly: requested but 6 months waiting time! :laughing:
  • Invest plan: (95% plan)
    1/3 now - Requested 17.04
    2/3 in the next 12 months, invested every month

4. Get InteractiveBrokers account

  • Open account: not done
  • Transfer funds: not done
  • Exchange chf->$: not done
  • Buy VT: not done
  • Invest plan:: keep it simple - invest monthly in VT

That’s my story :stuck_out_tongue: I will post questions here and update along the way. Again, thank you for the community! Any advice welcome.


Welcome, denis

Congratulations for taking your finances seriously! And good job on putting together a plan.

I don’t see this addressed at all in your plan. Might be worth addressing in step 5 maybe?

Very long term step 5 unfortunately, I have 2 loans 5 (started last year) and 10 years (started this year) :frowning: I’ll have to pay attention when the first finishes because from what I understand, to change bank without fees, I need both loans to finish at the same time.

Most banks will accept you if the mortgages aren’t more than 18 months apart. So I’ll probaly make a SARON mortgage in 2024 and start switching banks in 2029.

My mortgage is with UBS and the conditions are negotiated were good for that moment in time. The only thing I did wrong is my own fault for fixing 2/3rds for 9 years and 1/3rd in libor instead of going full libor. The libor contract rolls every 3 years so they will end at the same moment. Then I’ll be doing some hard bargaining :slight_smile:

Just say that bank/insurance Y offers you rate X and you’ll get it too, as long as it’s realistic. So no need to change banks. They’ll charge you 300 CHF per mortgage that you want to cancel.

How bad can they be? These days rates are super low.

I’m not unhappy with the rates, historically it’s very good (5y@0.89 + 10y@1.11), what annoys me are the fees here and there and the website. I’ll be sure to check with Mustachian in…9 years :smiley:

Next big step is IB.

Thanks for the feedback.

I am curious: what fees are we talking about? I don’t remember paying any fees to open a mortgage and I did not pay any fees now when extending the first tranche. I am with PF though.

I went back to study it, most of them I understand now…Only “Frais de bouclement at the end of the year” is annoying.
Again, I’m very happy to have ~1% interest rate, historically speaking.

-> Now that’s set, I have to focus on things I can change :slight_smile: I’ve created an IB “demo” account.

I wanted to post an update to the original post. Some tasks took longer than expected due to pandemic but now, here is my status:

1. Close the account in France :white_check_mark:
2. Create Neon :white_check_mark:
3. Replace Cler by Zak :white_check_mark:
4. Create Frankly and transfer funds :white_check_mark:
5. Extra: invest (LS) in VWRL :white_check_mark:


  • After reading quite a lot, I changed my “invest plan” to Lump Sum for Frankly. BCV blocks for 6 months the transfer, so I was able to transfer 80% of 3rd Pillar (immediate transfer from Cler)
  • I gave up on IB. I know “everyone” here loves IB but I’ll stick with TradeDirect. I’ve had problems with my account, IB didn’t get back to me (or only after days, with no solution to a known problem). Plus I don’t like it’s not swiss. I don’t have any problem with TradeDirect, it works well and yes I pay more but voilà.

Now my net worth is split like this:
2nd pillar: 17.7%
3rd pillar: 19.3%
Stocks/ETF: 39%
Property (worth-debt): 17%
Cash: 7%

I’ll continue to follow up this thread.

Swiss brokers are weird, on their website they advertize themselves as having low fees, but wow that’s indeed expensive (44 CHF for 10k on US markets, it probably costs them like 2 CHF…)

By reading and partipating to this forum, you confirm you have read and agree with the disclaimer presented on
En lisant et participant à ce forum, vous confirmez avoir lu et être d'accord avec l'avis de dégagement de responsabilité présenté sur