Apiax, a Zurich-based RegTech startup, has launched a new product that factors the tax impact of financial instruments into the investment recommendations of banks and asset managers.
By addressing key challenges in wealth management, such as the need to increase the quality and frequency of client interactions and the rising demand for tailored investment advice and new investment products, Apiax aims to help the financial services industry better engage its customers and offer them tax-efficient investment recommendations.
“Financial institutions can finally make use of tax calculations in their advisory processes. This is the missing piece in the puzzle of value-added, personalized investment advice”, said Ralf Huber, Legal Lead and Co-Founder of Apiax.
“We wanted to create a product that allows financial service providers to focus on their customers without ever losing sight of investment performance. We’re proud to have achieved just that with our new tax product”, commented Philip Schoch, Product Lead and Co-Founder of the Swiss startup.
Apiax helps increase the quality and frequency of client interactions and allows to leverage digital tax rules for investment needs to inform clients about tax-heavy financial instruments. Banks and asset managers can use the solution to activate clients with engaging investment proposals and to create a differentiating product offering in an increasingly competitive market environment.
The wealth management industry acknowledges that tailored investment advice and value-added investment products must target tax-adjusted returns instead of cost-adjusted returns only. Apiax believes that the topic of tax-efficient investing is set to become more important with increasing transparency, ever more demanding customers, and the prospect of tax-suitability requirements looming on the horizon.
