Liechtenstein’s financial center stands out for sustainability
“Who is sustainable?” was the question at this year’s asset manager test by Fuchs | Richter Prüfinstanz. The winning country this year was Liechtenstein. The testers judged that it is the German-speaking financial center where sustainability is the most consistent.
The financial center of Liechtenstein is the clear winner from the 18th asset manager test by Fuchs | Richter Prüfinstanz, based in Berlin. The consulting and investment quality of private banks in German-speaking regions was tested. LGT Bank was “the clear winner” in first place for the quality test Private Banking. Liechtensteinische Landesbank was the fourth-best bank out of just seven classed as “very good”. Neue Bank came in eighth place with a “good” rating, while VP Bank Liechtenstein found itself in 15th place. “Private banking magazin” summarizes that “small financial locations are showing larger ones how to consult on sustainability issues”.
In total, 76 providers were tested. Fuchs | Richter Prüfinstanz created five assessment categories for this: Consultation quality, beauty contest, transparency, investment proposal, and investment competence.
Meanwhile, smaller, independent, private banks also took the top places in the “Immortal Leaderboard” according to the industry newsletter “Fuchsbriefe”, which is issued by the organizer’s publishing house. The Austrian company Bankhaus Spängler took first place, followed by LGT Bank and Liechtensteinische Landesbank. The testers’ judgement that Liechtenstein “is the German-speaking financial center where sustainability is the most consistent” is cited in “private banking magazin”.
The organizers summarized in their latest newsletter: “The differences between providers arise more and more from prioritization and particular capabilities in individual consulting areas.” The full quality test “Who is sustainable?” is available online.