So if my portfolio value crosses a certain threshold, I get assigned a new, “better”, relationship manager?
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That’s right. Most people are just in a pool without an assigned relationship manager/client advisor. As soon as you have enough assets (usually 100-150k+) or you need a mortage, you get your own personal client advisor. The pool for basic clients and the individual client advisors are part of the Personal Banking (most people are there).
If your assets are large enough (usually 500-1000k+), you’ll be in the Private Banking / Wealth Management segment. These are seperated as well, for example 1-5M Affluent, 5-50M HNW (High net worth) and 50M+ UHNW (Ultra high net worth).
Clients in Private Banking usually don’t pay anything for their cards, accounts etc. So you get a better service. Also client advisors with higher education and more experience.
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CS CSX is an option (white) too.
I assume those are assets held with the bank? 
Doubt many here would keep them there. 
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@TeaCup
Only assets that are managed by the bank are subject to management fees. You don’t pay any extra fees for the private banking client advisor. So you could have one without doing much business with the bank. But of course he will try to make offerings.
@dbu
Usually yes, because they are simply just under the radar. I mean in theory one could have 10 million in assets and a small account in the bank, nobody would notice. But if the bank realizes what you have in other places, you might end up with an individual client advisor based on your potential.
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You get nice coffee and chocolate, and get pitched expensive funds.
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I don’t think so. They have not done last time to me that the threshold was 250k (main reason why I was push to invest 
) so it was a nice push
It’s funny because PF also included a new policy where things that you have it for free if you have are >25k now it cost you 12 CHF a month and basic cost 5CHF.
Looking for a new bank.
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In the end nothing can be for free.
Seems like the banks want not only our money for free, they even want to charge us for them.
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Wrong-ish. They write you and tell you your new limit. You then “calculate” if it’s above or below. Might be tricky when you have more than one account, but they clearly states that it’s calculated individually.
Don’t they charge 0,5% or something like that if you hold cash in CHF in your IB account? I remember reading something like that in other threads…
ASKING! DON’T WANT TO SPREAD MISINFORMATION MYSELF!
starting at 100k (so similar to many swiss banks).
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Well, yes and no.
Right now if you have >25kCHF invested the Plus account is free. With the new plan, only the basic account will be free with those same >25k (5-5) and the premium package will cost 7 CHF/month (12-5). But yes, worse conditions.
I checked all over IB site to see what the limit was but couldn’t find it. Do you have a link?
Also would you know: if I convert all the money to USD, do I escape the fees or is it based on your location (Switzerland) Thank you!
https://www.interactivebrokers.com/en/index.php?f=46385&p=i
The USD interest rate at IB is currently 0%, so you don’t have to pay negative interest on USD positions. However, you also have the currency risk, if your expenses aren’t in USD. On USD bonds you should earn some interest but in addition to the currency risk you’d also have the risk of an increasing interest rate (especially for long-term bonds).
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As soon as you surpass 750-1000k, you’ll be in Private Banking no matter what. Could be all in cash.
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What I don’t get is why this info is not publicly available. Is it not to annoy other clients? “Damn rich people, not only are they rich, but they also don’t pay the fees”. If you’ve got a net worth of a few million CHF, how should you choose which bank would give you the best service? Word of mouth? Many safe-made millionaires don’t know other “long-time” millionaires, because they were not friends with rich people through most of their life.
And why don’t the rich pay the fees anyway? What does the bank gain? It normally makes money with these fees, so what’s the deal here? Is the idea that rich people will at some point use the bank’s services and since there will be large amounts involved, the fees will be substantial and make up for the money lost in “regular” fees?
So if one day I reach 500k or 1m assets at PF, I should expect them to tell me that they move me to the private banking division and since now my account fee has been lifted and I also can use the credit card for free? Or will I have to ask them myself?
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I assume that at that level of NW, the bank makes one or two order of magnitude more from your investments (through funds, negative interests rate, etc.) than the small bank account fees.
Just How Expensive Is Swiss Wealth Management? estimates it at 1%+
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But then, how many millionaires are self-made?
(few!)
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They may not pay the standard fees (i.e. debit/credit card, current accounts management fees, wire transfer fees) but will be charged on:
- Commissions on trading (stocks, bonds, funds, structured products etc).
- Spread on FX transactions
- Management fees for Private Equity
- Fees from home made funds in client’s portfolios
- Advisory fees
- Discretionary management fees
- Quarterly fees on portfolio (i.e annual tax statement, account maintenance fees).
To some extent, the fees can be negotiated between the client and his banker.
A smaller negotiated commission on trading will be largely compensated if the client is active with his portfolio.
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