IGUV has analyzed and compared the supervisory organizations. Our SO-analysis tool calculates for each asset manager individually what costs are incurred by each SO . For the comparison, we only need to enter ten parameters. the supervisory organizations. Our SO-analysis tool calculates for each asset manager individually which costs are incurred for each SO . For the comparison, we only need to enter ten parameters.
THE SURPRISE
The result of this analysis is surprising. There is no such thing as the super SO. Various factors play a role:
- the assets under management
- the number of employees
- the risk of the business model
- the date when the subordination agreement is concluded
All this has a considerable influence on the connection costs or the membership fee. Depending on this, one SO can be the worst for one asset manager and the best for another asset manager.
IMPORTANT DETAILS
From the time FINMA issues the licence, the asset manager is automatically affiliated to SO and thus liable to pay membership fees. Whether the membership fee is invoiced for the whole year, the semester or on a pro rata basis can make a difference of several thousand francs in an unfavourable case.
COST ROOF YES OR NO
The one-time admission fee as well as the recurring membership fee are invoiced once as a maximum lump sum and form a fixed cost ceiling. At the next SO , the causal costs are also invoiced. A clear distinction must therefore be made between flat-rate costs, causal costs and genuine special costs, which are only invoiced in rare exceptional cases.
THE HOME ADVANTAGE
The SO usually has less effort to take over an existing SRO member because they already know the asset manager. Some SO therefore offer better conditions for the transfer of their own members.
BIG DIFFERENCE
For a one-man show, the difference between the cheapest and the most expensive SO is a whopping CHF 30,000 in 5 years. Almost every SO is interesting for a group of asset managers. It is important for every asset manager to find the right SO .
TIME IS MONEY
The time of conclusion of the contract (subordination agreement with SO) has a considerable influence on the admission fee.
RESEARCH
The preparation of this data with queries to the SO involved a lot of work and kept us busy for several days. Today, we can calculate any case within minutes. We know immediately which SO solution costs how much and which is the best for the asset manager.
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