Zurich-based adviser BFI Infinity has joined Where Americans are Welcome, a Swiss wealth management platform.
BFI Infinity was formed as a result of a merger in December 2016, when BFI Wealth Management and Swiss Infinity joined forces. The firm won SEC approval on 20 July 2011.
Where Americans are Welcome is a platform that lists Swiss wealth management firms working with US clients and provides practical information for individuals who want to book their accounts in Switzerland.
US equity outlook
Speaking to Citywire Switzerland, Daniel Zurbruegg, CEO at BFI, said expectations of future returns in the US equity space have come down significantly, with the US dollar likely to move lower in coming years.
However, this doesn’t spell a significant correction in the near future, he said.
‘Companies today are very lean and a continued improvement in global business might translate into very strong earnings growth. This would be very supportive for the market. I think a 5-10% correction is always possible and part of long-term investing.’
According to the asset manager, the current exposure of the firm to the asset class is comparatively low, given the large valuation premium in US equities.
Zurbruegg added that current volatility levels are low as investors seem to be less sensitive to negative news.
‘Valuations are rich and some call the market way too overvalued, but compared to what? I think today is unique and the market valuation needs to be put in perspective to the economic reality we are living in.’