UBS : Credit Suisse and the Banques Cantonales Latines agree on a certification standard for client advisors

UBS, Credit Suisse and the Banques Cantonales Latines have agreed on a joint, state-accredited certification standard for client advisors. The standard is based on the certification process introduced by UBS in 2012 in conjunction with the Person Certification service of the Swiss Association for Quality (SAQ) and incorporates the specific experiences each of the participating firms has gained in its internal training activities. The initiative means banks in the Swiss financial center will have comparable benchmarks for assessing the capabilities and expertise of their representatives in wealth management and in retail and corporate banking alike.

Zurich, 8 October 2015 - Complexity in the financial markets is constantly increasing, and with it clients' expectations of the advice that client advisors give and the skills they possess. In response, UBS, Credit Suisse and the Banques Cantonales Latines (the cantonal banks of Ticino, Fribourg, Geneva, Jura, Valais, Neuchâtel and Vaud) are instituting a joint, state-accredited certification standard to give client advisors a standardized, recognized means of documenting their capabilities in wealth management as well as in retail and corporate banking.

The participating banks are developing the SAQ-recognized certification process that UBS introduced in 2012 into a form that transcends company boundaries. The certification covers not only general industry knowledge, rules of conduct and bank-specific content, but also their application in advisory activities. This occupation-specific certificate represents a consistent, recognized seal of quality for client advisors.

The certification will be carried out by the SAQ Swiss Association for Quality. The SAQ is accredited for this certification by the Swiss Accreditation Service of the State Secretariat for Economic Affairs (SECO). The certi-fication is internationally recognized under ISO standard 17024. The certifications will bear the designation 'Certified Wealth Management Advisor' for wealth management, 'Certified Private Client Advisor' and 'Certified Individual Client Advisor' for retail banking and 'Certified Corporate Banker' for corporate banking.

By further developing this common quality standard, UBS, Credit Suisse and the Banques Cantonales Latines are demonstrating that they take self-regulation seriously. The banks see this approach as a tremendous opportunity to continue providing the best possible training to their employees and keep abreast of the latest developments. The common industry standard also brings a degree of transparency in training within the Swiss financial industry, with international potential in wealth management.

The client advisor certification is available to all banks and other interested parties as a voluntary standard. Having a large number of certified client advisors accredited by the highest authority will highlight the quality of Switzerland as a financial center. Certification of client advisors will also enhance the reputation, expertise and efficiency of the financial industry as a whole.