Wealth Managers
Asset management in Luxembourg is offered by many banks and also a range of independent investment advisors and wealth managers.
The services offered range from simple advice, whereby the client takes his own investment decisions based on the adviser’s recommendations, through to personalised or discretionary asset management, where the manager is mandated to select assets for the client in line with that client’s individual risk profile and long-term financial objectives.
Any individual or firm offering these services in a professional capacity must adopt the status of Financial Sector Professional (known by its French acronym, PSF). This places them, like banks, under the authorisation and prudential supervision of the financial sector supervisory authority (Commission de surveillance du secteur financier - CSSF).
Alongside these different forms of asset management, banks and independent wealth managers are now setting up "family offices". This consists of the coordination, management and supervision of all activity associated with managing the global estate of wealthy families.
Finally, the management of collective savings is one of the pillars of the Luxembourg financial sector. Luxembourg is currently the leading European centre for investment funds and second in the world, after the United States, in terms of assets under management.