Swiss Life aims to offer a modern wealth office platform for HNWIs and institutions while boosting revenue through taxes and fees. Credit: nitpicker/Shutterstock.

Switzerland-based financial services provider Swiss Life has acquired compatriot ZWEI Wealth, a wealth management advisory firm.

The deal is effective immediately, with its financial details remaining confidential.

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This move aims to provide a modern wealth office platform for high-net-worth individuals (HNWIs) and institutional clients, while also generating additional income through taxes and fees.

ZWEI Wealth, founded in 2014 by Klaus Wellershoff and Patrick Muller, operates an open network collaborating with over 500 banks, asset managers, and wealth managers.

The acquisition aligns with Swiss Life’s strategy to increase investments for private clients by 2027 and establish it as a core business alongside pension solutions.

ZWEI Wealth manages assets under control worth CHF3.5bn ($3.83bn) and has seen double-digit growth rates.

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Swiss Life CEO Roman Stein said: “With the acquisition, we are closing a gap in investments for private clients, a service that we already offer for the retail and affluent segment through our advisory channels Field Service, Swiss Life Select and Swiss Life Wealth Managers.

“The advisory approach taken by ZWEI Wealth with its open platform fits perfectly with ours, with which we have also been proving to be successful in other segments and product categories for many years.”

The acquisition ensures that ZWEI Wealth’s services and brand will remain intact, with clients continuing to receive support from around 30 advisors across various Swiss cities, stated Swiss Life.

Klaus Wellershoff will stay on the board of directors, while Patrick Muller will maintain his role as managing director and report directly to Roman Stein, who will become the new chairman of the board of directors of ZWEI Wealth.

Wellershoff said: “The acquisition by Swiss Life allows us to continue to invest in our technology platform and to intensify customer acquisition.

“I am confident that by working with a strong partner, we will be able to expand our business model and develop our range of services. This will benefit both clients and partners of both companies.”

In 2022, Swiss Life Group launched a wealth management division to provide private clients with integrated advisory and asset management services.