With an impressive increase in membership, the introduction of forward-looking topics in its workshops and an increased presence in Italian-speaking Switzerland, IGUV has had an eventful 2023. In an interview, Roger Fromm, co-founder of IGUV, provides insights into the successes of the past year.
Interviewer: IGUV has seen impressive developments in 2023. Let's start with the growth in membership. How do you explain the increase from 64 to 82 members?
Fromm: This positive development is the result of our constant efforts to offer our members added value. The introduction of new services, such as our specially developed internal control system (ICS), especially for asset managers, has increased the attractiveness of membership. Such tools offer our members great simplification and time savings in the compliance process. Over 40% of our members come on the recommendation of existing members, so the general satisfaction of our members plays a decisive role in our growth.
Interviewer: IGUV offers workshops in various cities in Switzerland. What makes these events so unique?
Fromm: Our workshops, which take place in Zurich, Zug, Basel and Lugano, offer an intensive experience, in a personal setting with a maximum of 20 participants, with up to 20 topics in just one day. Each participant will find interesting topics that are of great benefit to their practice. Our new topics for 2024 include artificial intelligence (AI), cybersecurity and customer psychology.
Interviewer: Can you tell us more about these new topics?
Fromm: With pleasure. Let's start with artificial intelligence. In asset management, artificial intelligence is no longer just an option, but a necessity. We are already using it in a variety of ways, from optimizing investment strategies to increasing the efficiency of internal processes. Our 2024 workshops will aim to present concrete use cases and best practices for artificial intelligence. We want to show how artificial intelligence can support the decision-making process and improve customer service.
Regarding cybersecurity: Cybersecurity is a crucial aspect in today's digital world, especially in the area of asset management. In order to provide our members with comprehensive training in this area, we are working with GDATA, a specialist in cybersecurity. They have developed a three-stage certification program with numerous e-learning modules. These modules provide in-depth insights into the latest security trends and strategies and are designed to train participants not only in the detection but also in the effective defense against potential cyber threats. This program is free to our members and is an important part of our efforts to support and empower them in this critical area.
On customer psychology: At a time when customers have more choices than ever and loyalty is declining, it is crucial to understand the psychology behind customer decisions. Our workshops will look at how to better understand customers' needs and expectations and how to build stronger and more lasting relationships on this basis. We see this as a key component to being successful in today's competitive landscape.
Interviewer: How important is it that these workshops are recognized as professional development?
Fromm: This recognition is a huge benefit, not only for our members, but for all participants in our workshops. Over 60% of participants are not members. Recognition as professional training enables managing asset managers to effectively fulfill their annual training obligation and at the same time offers up-to-date and relevant knowledge. In addition to imparting knowledge, we also attach great importance to the exchange of ideas between participants. This dialog promotes networking and enables participants to benefit from the experience and insights of others, which in turn enhances the quality of our events.
Interviewer: Can you tell us about the expansion of your board in Ticino?
Fromm: With the addition of Bruno Chastonay and Franz Alberini to the Board of Directors, we have strengthened our commitment in Italian-speaking Switzerland. They are playing a key role in setting up our Ticino chapter and planning three events in Lugano in 2024. Our aim is to establish an independent program in Ticino that is tailored to the specific needs of the region.
Interviewer: In this context, what role does ASSET MANAGER magazine play in expanding your reach and what does it offer your members?
Fromm: The ASSET MANAGER magazine is a key part of our strategy to increase the visibility of our members and cooperation partners and make their expertise accessible to a wider audience. With a 50% discount on all publications, we enable our members to share their thoughts and insights with a knowledgeable and interested audience. The target group comprises over 9,000 readers, including 2,500 asset managers. The low wastage and long half-life of the magazine mean a uniquely high return on investment for our partners.
We also support our members in creating content using AI technologies to maximize the quality and relevance of their contributions. In the next issue of the magazine, we plan to return to hot topics such as FINMA fees, reporting obligations for asset managers, the revised Data Protection Act and other current issues in asset management.
Interviewer: This leads us to the last question: What does the future hold for IGUV ?
Fromm: The future of IGUV is characterized by a constant commitment to quality and innovation, always with a focus on the needs of our members and the entire wealth management industry. We see ourselves as a partner and supporter in a constantly changing market. Our goal for the coming years is to carefully expand our services and further deepen our workshop topics in order to always offer relevant and practical knowledge. In doing so, it is important to us to consolidate our presence in all parts of Switzerland and at the same time to build a bridge between proven wealth management practices and new, future-oriented approaches.
We rely on the power of community to overcome the challenges of our industry together through collaboration and knowledge sharing and to promote trust and consistency in our work.
