Over the holidays, I got to talk with someone from my extended family who told me he received a windfall about two years ago (around 250k) and invested it with one of the big Swiss banks with a wealth management mandate. He’s already 71, doesn’t need that money and wants to pass it on to his two children when he’s passed away.
A few months ago he started realizing how expensive that solution is (1.25% per year, excluding TER). So he wants to do something about it.
He has no knowledge about investing or what actively and passively managed funds are. So asking him to open a Swissquote account and buy index funds would not be something he’d feel comfortable doing. He wants things taken care of and isn’t interested getting to know the world of investing.
What would be the “least shitty option” here? A robo-advisor like TrueWealth? You simply open an account, answer a few questions about situation and goals, transfer all the money to a Swiss bank account, and you’re done. It would basically be the same thing he has today, just with massively lower fees.