Members of the Alliance of Swiss Wealth Managers (ASWM) held their first meeting in Ticino on 18 May, highlighting the canton's importance to the wealth management landscape.
'We wanted to draw our members' attention to the financial centre of Ticino,' said ASWM president Felix Brem in a statement, noting the unique perspective offered by association members from Ticino.
'They face the same issues as their colleagues in the rest of Switzerland in terms of size, organisational structure and services,' he said.
Alberto Stival, deputy director of the Center for Banking Studies, said that wealth managers in Ticino have certain advantages that may be overlooked – in particular, more regulatory freedom than other wealth managers.
'It is not by chance that independent asset managers often try to take advantage of business opportunities linked to new markets, services and products [in Ticino],' the statement noted.
'Indepdendent asset managers, particularly medium and large companies, are now important actors in the ecosystem of a transitioning financial centre in Ticino; a region where participants need to focus on increasing collaboration.'