A year after stepping into the top role at Croesus, Vincent Fraser is bringing a new dynamic to the wealth management solutions provider. Tasked with accelerating the WealthTech's growth, the newly appointed President is clearly setting out his strategy: placing performance at the heart of the interplay between firms, wealth management professionals and investors.
Vincent Fraser was appointed to the helm of Croesus last year. The company is notable for offering a tax-suitable portfolio customisation solution specifically designed for the Swiss market. By centering its strategy on performance and reaffirming its commitment to clients, the WealthTech aims to strengthen its position in Switzerland.
"It is been a busy year. During this initial period, we have established the foundations for the performance-oriented culture that will now define Croesus," says Mr Fraser
Performance: central to success
This strategic emphasis on performance is deliberate. For Fraser, it is intrinsically linked to the success of Croesus' clients.
"We operate in a realm of marginal gains. Therefore, our primary focus must be on the performance of our users, as this will empower them to ensure the overall success of their firms," he says.
The President of Croesus draws a parallel with the Formula 1 arena, a world he knows well. Just as in F1, every marginal improvement contributes to victory. Croesus' solutions provide wealth management teams with the tools to maximise their daily efficiency and deliver strong results for investors.
"When you manage billions in assets effectively, it generates additional revenue and profits that can be reinvested for growth and to meet the expectations of investors," Fraser explains. The company he leads provides solutions that enable its clients to manage CHF 1.2 trillion in assets.
Addressing the needs of the Swiss market
While Croesus is a relatively new entrant to the Swiss market, the company benefits from nearly four decades of experience and a proven track record in financial technology, alongside established local partnerships.
"Our greatest strength lies in our command of financial technologies, coupled with the capacity of our solutions to scale exponentially with our clients' needs. We arrived in Switzerland with deep expertise, a long-term vision, a compelling product strategy and an unwavering commitment to our clients' success," Fraser asserts.
Over the past year, Croesus has refined its hyper-personalisation portfolio solution to address a specific requirement within the Swiss market: tax-suitable wealth management. In addition to enabling the customisation of portfolios based on individual investor needs and preferences, Croesus Central now allows for the easy consideration of their tax situation.
This unique market offering not only provides a commercial advantage for banks but also directly addresses the legal obligation (FinSA, Articles 10 and 11) to "check whether financial instruments are appropriate for [their] clients before recommending them."
"This solution is now available, and we are receiving encouraging feedback from the market. I am personally involved in several discussions with potential clients, and we are tackling very strategic matters. This demonstrates that we aim to be more than just a technology provider; we want to be a business partner who truly understands our clients' realities," says Mr Fraser with satisfaction.
Delivering meaningful impact for banks
Mr Fraser emphasises that to provide genuine added value to Swiss banks, Croesus is focusing on robust and predictable processes, as well as organisational efficiency. These elements are crucial for supporting the company's growth and meeting the demands of the Swiss market.
"We must capitalise on our strengths and real-world data to invest where it will have a significant impact for our clients and users," says Mr Fraser.
This focus on delivering meaningful impact is designed to more precisely meet the performance demands of portfolio managers. This approach aligns with the company's long-standing commitment to placing the needs of its clients at the heart of its development efforts.
"During my first year, we established a strategic plan built upon key areas of innovation and investment. All of this is in line with our commitment to long-term sustainability and vision," he says.
The internal structure has been enhanced, notably through the appointment of Vice Presidents in Finance and Product Management. This transition signals a commitment to strengthening the company's expertise and strategic foresight.
A fundamental transformation, according to Mr Fraser, has been the establishment of a product management structure to foster closer ties with the market and clients. Croesus has also multiplied by six the resources allocated to its product team over the past year.
"We are accelerating and increasing investment. The goal is a faster modernisation of existing applications and solutions, alongside the incubation of new products that address our clients' performance needs and the evolving landscape of financial adviser experience," says Fraser
Croesus is also prioritising user advisory groups, enhanced customer support and the development of its training programmes. The WealthTech aims to offer a comprehensive service addressing all aspects that can directly or indirectly influence the performance of its users.
This close relationship also entails reliable product delivery. Croesus is committed to providing clear information about the content of each new release, enabling its clients to better plan their operations.
A clear sense of enthusiasm
To solidify its presence in Switzerland, Croesus is actively working to forge strategic partnerships with local entities offering complementary solutions. Fraser highlights that several other projects are also in the incubation phase in collaboration with clients.
"The market can anticipate an acceleration from Croesus in the quarters ahead," says Vincent Fraser.
