FIDLEG Client Information
Based on the legal requirements of Art. 8 ff. of the Financial Services Act, we would like to supply you with this information sheet which provides an overview of Smart Wealth Asset Management AG (hereinafter referred to as the "Financial Institution") and its services.
A. Company information
Address:
Bellerivestrasse 18
8008 / Zurich
Telephone: +41 549 55 85
E-Mail: support@smartwealth.ch
Website: www.smartwealth.ch
The Financial Institution was established in 2016.
Supervisory authority and audit firm
As of 23.02.2022, the financial institution is authorised on the basis of the Financial Institutions Act (FINIG) within the meaning of Art. 2 para. 1 lit. A in conjunction with Art. 5 para. 1 FINIG. Art. 5 para. 1 FINIG for the professional activity as an investment manager. The financial institution is supervised on an ongoing basis by AOOS - Schweizerische Aktiengesellschaft für Aufsicht.
The financial institution is audited and reviewed by the auditing company Grant Thornton AG both in terms of supervision and obligations. The address of AOOS - Schweizerische Aktiengesellschaft für Aufsicht and Grant Thornton AG can be found below.
Information about the supervisory organisation:
AOOS - Schweizerische Aktiengesellschaft für Aufsicht
Clausiusstrasse 50
CH-8006 Zürich
+41 44 215 98 98
ralph.frey@aoos.ch
www.aoos.ch
Information the Audit Firm:
Grant Thornton AG
Dufourstrasse 49
CH-4052 Basel
+41 79 273 98 56
walter.aeschbacher@gwg-beratung.ch
www.gwg-beratung.ch
Ombudsman
Smart Wealth is affiliated with the independent ombudsman office, OFS Ombud Finance Suisse, 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 OFS Ombud Finance Suisse is stated below.
OFS
16 Boulevard des Tranchees
1206 Genf
+41 22 808 04 51
www.ombudfinance.ch
B. Information on the offered financial services
The financial institution provides asset management services to its clients.
The financial institution also provides financial services for structured products such as actively managed certificates (AMCs). For further information on the various actively managed certificates, the general risks, specifications, and operating procedures, please refer to the relevant term sheets and factsheets on this website.
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 provide all clients with the " Risks associated with Financial Instruments Transactions" brochure prior to the execution of the contract. This brochure can also be found at www.swissbanking.ch.
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. If unusual concentrations of risk within the client portfolio cannot be ruled out, the nature and extent of such concentration risks shall be disclosed to the client. Indicators of such unusual concentrations of risk are:
· a concentration of 10% or more in individual securities;
· a concentration of 20% or more in individual issuers.
Concentrations from collective investment schemes that are subject to regulatory risk diversification rules, such as UCITS funds and Swiss securities funds, are excluded.
In the case of investment advice, the financial institution shall provide its retail clients with the basic information sheet of the recommended financial instrument.
Information on costs
A fee is charged for the services rendered, which is usually calculated on the assets under management and/or on a performance basis. For more detailed information, please refer to the relevant Asset Management Agreements.
If it is not possible to determine the actual amount of remuneration or third-party services before the financial service is provided or the contract is concluded, the financial institution shall inform the client of the range of the respective remunerations, taking into account the different asset classes and financial instruments.
In the case of asset management and portfolio-based investment advice, if the exact amount of third-party remuneration cannot be determined in advance, the client shall be informed of the range of the expected remuneration in relation to the portfolio value and the agreed investment strategy.
E. Information about relationships with Third Parties
In connection with the financial services offered by the financial institution, commercial relationships with third parties may exist. The acceptance of payments from third parties and their treatment are detailed governed in the respective Asset Management Agreements.
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. The financial institution's own AMCs can - where appropriate - be used in the asset management mandates. If the financial institution offers both its own and third-party financial instruments in its market offering, it shall take appropriate organisational measures, such as implementing a procedure for selecting financial instruments based on objective criteria customary in the industry. If the possibility of customers being disadvantaged cannot be excluded, the financial institution shall disclose this to its customers.
G. Appropriateness and suitability
Appropriateness test for transaction-based investment advice
In the case of transaction-based investment advice, the financial institution provides investment advice for individual transactions without taking into account the entire client portfolio.
In this case, the financial institution must ascertain the client's knowledge and experience before recommending financial instruments. In addition, before recommending financial instruments, it must be determined whether they are appropriate for the client.
In particular, the company must ensure that it is aware of the client's knowledge and experience in relation to each relevant investment category used in the financial service.
Suitability test for portfolio-based investment advice and asset management
When providing portfolio-based investment advice, the financial institution provides investment advice that takes into account the client portfolio. When providing asset management services, the financial institution must also take into account the entirety of the client portfolio it manages. In contrast to investment advice, it also makes the investment decision itself.
In both these cases, the financial institution must determine the financial circumstances and investment objectives as well as the knowledge and experience of the clients. In this context, the knowledge and experience relates to the financial service and not to the individual transactions.
The information gathered by the financial institution about the knowledge and experience of the clients must take account of the investment strategy, and the granularity of the survey must be adapted to the complexity and risk profile of the investment and the investment strategy. In particular, the financial institution must be certain about the knowledge and experience of the clients in relation to each relevant investment category used in the financial service.