IAP was co-founded by two former Standard Chartered Bank executives Andreas Isenschmid and Markus Amrein. The family-owned company offers independent advice on financial matters and tailors products and services to the diverse needs of private clients, family offices as well as entrepreneurs and corporate clients worldwide.
FINSA Client information
Based on the legal requirements of Art. 8ff. of the Financial Services Act (FINSA), we would like to supply you with this information sheet which provides an overview of IAP Investment & Trust Services AG (hereinafter referred to as the «financial institution») and its services.
A. Company information
Phone: +41 44 283 60 30
Email: [email protected]
The financial institution was established in 1999.
Supervisory authority and audit firm
Currently (as of December 2021), the financial institution is supervised by the self-regulatory organisation VQF Association for Quality Assurance of Financial Services. With the new Financial Institutions Act (FinIA), all financial institutions will in future need a licence from FINMA to carry out their professional activities as asset managers. The deadline for submitting the application is the end of 2022. The financial institution has already submitted the application to the competent licensing authorities for authorization as an asset manager. The future authorization status can be found on the homepage.
The financial institution is audited and reviewed by the auditing company CAPREV Wirtschaftsprüfung und -beratung AG both in terms of supervisory law and in terms of obligations. The address of the VQF and CAPREV Wirtschaftsprüfung und -beratung AG can be found below.
VQF Verein zur Qualitätssicherung von Finanzdienstleistungen
Phone: +41 41 763 28 20
Email: [email protected]
CAPREV Wirtschaftsprüfung und -beratung AG
Phone: +41 41 761 92 45
Email: [email protected]
The financial institution is affiliated with the independent ombudsman Finanzombudsstelle Schweiz (FINOS), which is recognized by the Federal Department of Finance. Disputes concerning legal claims between the customer and the financial services provider should be settled by an ombudsman’s office, if possible, within the framework of a mediation procedure. The address of Finanzombudsstelle Schweiz (FINOS)is stated below.
Finanzombudsstelle Schweiz (FINOS)
Phone: +41 44 552 08 00
Email: [email protected]
B. Information on the offered financial services
The financial institution provides asset management services, portfolio-based investment advisory services and comprehensive trust services to its clients. In the case of a portfolio-based investment advisory mandate with the financial institution, a personal recommendation is provided to the client, taking into account the client portfolio. The decision to buy or sell remains always ultimately with the client.
The financial institution does not guarantee any yield nor performance of investment activities. The investment activity can therefore lead to an appreciation in value and to a depreciation in value.
The financial institution has the necessary licenses to perform the above services.
C. Client segmentation
Financial service providers are required to classify their customers into a client segmentation as legally established. The Financial Services Act provides for «retail customers», «professional customers» and «institutional customers» segments. For each customer, a customer classification is determined within the framework of the cooperation with the financial institution. Subject to certain conditions, the customer may change the customer classification by opting in or opting out.
D. Information on risks and costs
General risks associated with financial instruments transactions
The investment advisory and asset management services involve financial risks. The financial institution shall inform all clients about the «Risks associated with Financial Instruments Transactions» brochure prior to the execution of the contract. The brochure can be viewed free of charge on the homepage of the Swiss Bankers Association (https://www.swissbanking.ch/en/downloads).
Clients of the financial institution may contact their client advisor at any time if they have any further questions.
Risks associated with the offered services
For a description of the various risks that may arise from the investment strategy for clients’ assets, please refer to the relevant Investment advisory or asset management agreements.
In the case of investment advice, the financial institution shall provide its retail clients with the basic information sheet of the recommended financial instrument. For financial instruments in the form of securities such as stocks, including securities equivalent to shares, which confer participation rights, e.g. participation or dividend-right certificates, as well as debt securities of a nonderivative nature, a Basic Information Sheet does not have to be prepared nor provided.
Information on costs
A fee is charged for the services rendered, which is calculated on the assets under management. For more detailed information, please refer to the relevant Investment advisory or asset management agreements.
E. Information about relationships with third parties
The financial institution completely waives the acceptance of third party benefits (e.g. retrocessions, kick-backs,
portfolio commissions, etc.).
F. Information on the market offer considered
The financial institution basically follows an «open universe approach» and tries to make the best possible choice for the client when selecting financial instruments.
Our company intends to become our clients’ independent and trusted lifetime partner and establish long-term relationships that will be passed on from generation to generation.
Soon after the co-founder Andreas started his investment advisory business in the 90’s, he was contacted by an UK entrepreneur who wanted to give him an Investment Mandate to manage a portfolio in excess of CHF 5 million without having met him personally. When he proposed to the UK entrepreneur a meeting enabling the client to get to know him personally, the UK entrepreneur replied: “My neighbor knows you since more than 20 years and he recommended that I should appoint you as my Investment Advisor and there is no need to meet you personally.” Turning 91 years old, IAP feels honoured to continue serving such a distinguished client.”
Our professionalism has earned us deep trust from clients. As such, IAP have built its business mostly through client referrals. Through strong customer relationships, we can build trust with our customers and earn their referral. If clients recommend our service, and we do not deliver, our customers will have their reputation damaged too. It is important to follow our most important philosophy which always put the benefits, satisfaction and needs of our clients on top. We continue to work hard every day to ensure that we provide a high and consistent quality of service.
We manage and invest clients’ funds with the highest discipline as we establish a long term and sustainable investing plan. We work together with our clients day by day to make sure that their benefit is optimized, the value of their investment is maintained and their wealth is preserved.
“Whoever is careless with the truth in small matters cannot be trusted with important matters.” – Albert Einstein
The financial services industry sometimes has forgotten the phrase of the year 1904, “the customer is always right” popularized by pioneering and successful retailer Harry Gordon Selfridge. He advocated that customer complaints should be treated seriously so that customers do not feel cheated or deceived. This attitude was novel and influential when misrepresentation was rife and caveat emptor (let the buyer beware) was a common legal maxim. It is important to remind financial services providers today that they too have some obligations. As many have said before, trust is not a matter of technique, tricks, or tools but of character.