Swiss & US custodians
Through a Swiss SEC-registered investment adviser
A US client chooses a custodian in collaboration with a Swiss wealth manager and gives it a discretionary mandate with a limited power of attorney to manage the account (or an advisory mandate) held with the custodian.
Swiss wealth managers may collaborate with several Swiss and/or US custodians, the choice is yours.
Some Swiss custodians
Banque Pictet & Cie
Geneva, Zurich, Switzerland
Bank J. Safra Sarasin, Bordier & Cie SCmA, Dreyfus Banquiers, DZ Bank, EFG International, Julius Baer, Rahn + Bodmer, Reichmuth & Co., Syz, UBP, UBS, Vontobel.
The Swiss custodian adheres to FATCA requirements and issues all the statements and documents required for timely FBAR and correct tax reporting with the IRS.
Swiss SEC RIAs working with US custodians
Some US custodians
Merrill Lynch, Morgan Stanley, HSBC, Citi, Interactive Brokers, Alex Brown/Raymond James.
By using a US custodian, US clients are not subject to FATCA and FBAR reporting issues.