Fuchs Asset Management

A new model for wealth management

Fifteen years after Jean Fuchs turned his back on the traditional private banking world, his wealth management firm Fuchs Asset Management has grown into a multi-faceted business ranging from insurance brokerage to third-party ManCo services and is flexing its international muscles.

An individual vision

 

Just a few months into the new millennium, Jean Fuchs decided to leave the mainstream private banking world, in which he had enjoyed success as a wealth manager and adviser to Luxembourg and European clients, to strike out on his own. He created the firm Fuchs & Associés Finance in spring 2000 to implement his vision of an innovative wealth management model offering customised services and fair and transparent solutions to clients as well as giving flexibility to wealth managers. Within months Fuchs had been joined by five other experienced bankers and wealth managers who shared ambition to reshape the industry. Now, 15 years on, the group has 125 employees as it developed beyond Luxembourg into new markets, starting with Brussels and Geneva.

A broader scope

 

Over a decade and a half, Fuchs Asset Management has grown not just in terms of locations and staff, but in the services the firm provides. While its main business remains wealth management for high-end customers, the group has gradually launched additional, complementary business lines, starting in 2005 with an in-house trading desk. Three years later the company began offering insurance brokerage services, while in 2012 family office activities were bundled together in a separate unit. Last year, responding to the opportunities offered by the EU’s Alternative Investment Fund Managers Directive, Fuchs Asset Management has launched its own ‘Super ManCo’ – a third-party management company providing coordination and supervision of services to traditional UCITS vehicles as well as alternative funds – an area overseen by Jean Fuchs’ son: Timothé.

 

Recipe for success

 

The development of new activities over the years reflects the entrepreneurial spirit that has infused Fuchs Asset Management since its inception. One factor that certainly helps is that the group is in private hands, its hierarchy has remained flat, and decision-making is rapid and efficient – all to the benefit of clients and business partners. Today the group adopts the role akin to that of a conductor in creating personalised solutions for the individual needs of its clients, orchestrating its expertise in portfolio management, organisation and risk management. The future is likely to see further expansions both geographically and in terms of skills and capabilities, backed by the group’s proven quality of perseverance and its commitment to listening closely to its clients and understanding their evolving needs and expectations. In an increasingly complex world, wealth individuals, families and institutions will more than ever need trusted advisers, service providers and expert professionals – something that’s engrained in the Fuchs Asset Management Group’s DNA.