Swiss Life, the renowned Swiss financial services provider, has taken a significant step to expand its portfolio by acquiring Zwei Wealth, an asset management company co-founded by economists Klaus Wellershoff and Patrick Müller. This acquisition, effective immediately, marks Swiss Life’s commitment to bolster its wealth management offerings for high-net-worth individuals (HNWIs) and institutional clients.
Founded in 2014, Zwei Wealth has made its mark on the Swiss financial scene, managing approximately 3.5 billion Swiss Francs (CHF) across various client portfolios. With over 30 advisors located strategically across Zurich, Geneva, Bern, and Winterthur, the firm has distinguished itself by achieving double-digit growth rates in its operations.
The move was officially announced on February 12, 2025, with Swiss Life stating its intention to use this acquisition to fill existing gaps within their investment services aimed at private clients. Swiss Life seeks to develop its asset management business significantly over the next few years, with plans to establish this as one of its core operations alongside its well-known insurance offerings by 2027.
The CEO of Swiss Life, Roman Stein, expressed the strategic rationale behind the acquisition. "We are closing a gap in the investment business for private clients," he stated. This sentiment is underscored by the fact Zwei Wealth caters to clients with investable assets of over 1 million CHF, aligning well with Swiss Life’s growth ambitions targeting affluent individuals.
Swiss Life’s acquisition aims to not just retain but also capitalize on Zwei Wealth’s established brand and operational framework. The company reaffirmed this commitment by ensuring the continuity of the Zwei Wealth brand and services even after the acquisition. Wellershoff will remain on the board of directors, ensuring stability during the transition period.
This strategic acquisition reflects broader trends within the financial services sector, where wealth management firms are increasingly consolidifying to fortify their market positions amid rising competition. Swiss Life's move is particularly notable as it enters more deeply the high-end segment of wealth management, which has been identified as a target demographic due to its lucrative nature.
Swiss Life indicated the acquisition would also yield additional fee revenues, enhancing their profitability. While the specific purchase price has not been disclosed, market analyses suggest it could be within the range of tens of millions, likely correlational to the estimated assets under management Zwe Wealth oversees.
Zwei Wealth prides itself on being "the largest independent ecosystem within wealth management," boasting collaborations with over 500 banks and asset management firms. This gives it both flexibility and depth, appealing to various client needs. The acquisition not only strengthens Swiss Life’s existing offerings but also introduces new client segmentation opportunities.
Looking forward, Swiss Life intends to leverage this acquisition to attract other high-net-worth clients seeking modern solutions for their wealth management needs. The financial institution aims to establish itself as a key player within this specific niche of the market by investing significantly to grow and evolve the services extended to HNWIs.
The integration of Zwei Wealth will likely involve the addition of new advisors to their team, with plans for hiring 15 more consultants by year-end, thereby fortifying their presence and expertise within the market.
With this acquisition, Swiss Life steps onto the forefront of wealth management, appealing to high-net-worth individuals seeking personalized and expansive wealth advisory solutions. By continuing to honor and sustain Zwei Wealth’s established practices and brand, Swiss Life demonstrates its commitment to preserving the quality of service its new clients have come to expect.
Overall, Swiss Life’s acquisition of Zwei Wealth signals significant ambition and growth within the competitive wealth management industry, positioning itself strategically to meet the demands of affluent clients who require sophisticated financial services. With the duo of Swiss Life’s expansive insurance background and Zwei Wealth’s dedicated asset management focus, the partnership could redefine wealth management offerings across Switzerland.