Swiss fintech startup WealthInitiative has launched a platform to cut out the middlemen in real estate, art and passion investments such as classic cars, yachts or private jets, which represent a dynamic trillion dollar market.

The newly launched platform is used internally to enable wealth management firms unlock synergies among their own clients.

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The WealthInitiative platform, which is available as a cloud-based solution or can be hosted on banks’ IT infrastructure, creates a secure market place where client assets can be traded.

By matching supply and demand through a trusted platform, private banks avoid the steep fees normally charged by intermediaries allowing them to generate additional revenues, WealthInitiative claims.

Moreover, the platform will also accelerate transactions, enhance confidentiality, and lowers the costs for clients.

The Swiss startup added that it will allow various wealth management institutions to securely reach out and connect with each other in the near future.

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WealthInitiative revealed that it is also working on the integration of blockchain technology to allow tracing provenance and ownership of assets traded on its platform.

WealthInitiative founder Douglas Azar said: "I strongly believe that creating synergies among clients is the next growth driver for wealth management institutions. Throughout my experience in private banking and art investment research, I kept on wondering about the lack of tools that would allow private banks to better exploit this untapped potential. WealthInitiative was born out of a desire to fill this gap."