Truewealth experience report 2024 True Wealth Review from Truewealth Test Alternative ETF savings plan Switzerland

True Wealth Experience Report 2026

Finding a low-cost Swiss broker to invest in ETFs is not easy. True Wealth is not a typical broker, but rather a digital asset managerwhich gives Swiss people access to ETFs. 

With more than 45,000 customers and more than 2.5 billion Swiss francs under management, True Wealth is not only one of the largest Swiss robo-advisors, but can therefore also offer very favourable conditions.

This review shows you our detailed True Wealth experience report 2026.

📊 True Wealth - The most important facts at a glance
RegulationFINMA-regulated - Custody account with Saxo Bank Switzerland or BLKB
Minimum investmentCHF 8'500 (CHF 1,000 for 3a and child custody account)
Total costs p.a.0.37% - 0.72% p.a.% (degressive from CHF 500,000)
Stamp duty❌ Not included.
FX feesapprox. 0.1% (10 pips)
Custodian bank selectionSaxo Bank Switzerland or BLKB (government guarantee)
Pillar 3a✅ Yes - without administration fee
Children's Accounts✅ Yes - assets belong to the child
Tax statement✅ Free of charge, automatic
Promo codeCHFRANKE - CHF 100 fee credit in the first year
Who is it suitable for?Investors from CHF 8,500 and families with a child deposit
💡 Schwiizerfranke assessment: True Wealth is one of the most established Swiss robo advisors. They are particularly attractive for larger assets and families. The only real children's custody account among the providers compared. All providers in comparison →

Table of contents

ETF Switzerland explains indexing passive investing

What is True Wealth and what are ETFs?

True Wealth (TW for short) is one of the established Swiss robo-advisors that specialises in investing in ETFs - i.e. so-called passive investing.

Investments are not made in individual shares or even trading. Instead, the focus is on the market as a whole, thus minimising the risk of individual companies. Depending on the index (e.g. SMI = Swiss Market Index), the return historically varies between 4% - 9% per year.

How True Wealth works in three simple steps:

  1. You create an investment profile based on your goals and risk appetite
  2. TW creates a diversified ETF portfolio for you
  3. The robo-advisor manages your portfolio automatically and adjusts it regularly

True Wealth Performance is very similar to the market, but more on that later. The Robo Advisor offers you as an investor a very inexpensive and easy access to ETFs or passive investments.

The True Wealth fees look very attractive. Read on to find out exactly how the platform works, what the advantages and disadvantages are and what the True Wealth alternatives are.

Start now - don't forget the code CHFRANKE *

Advantages of True Wealth

  • Low fees: The management fee is between 0.25% and 0.50%, plus product costs (TER) of around 0.12% and a foreign currency surcharge of around 0.10%. This means that the costs are among the lowest on the market. The management fee decreases gradually from CHF 500,000 - see degression scale below.
  • Few foreign currency feesTW optimises the investment strategy in such a way that as few currency exchanges as possible occur. The Swiss often neglect this! Because currency conversions from francs to USD etc. naturally cost money. If currency changes are necessary, only 10 pips (i.e. approx. 0.1% in relation to the transaction volume of the foreign currency) are charged.
  • Account opening in real time: Opening a True Wealth account using a photo ID is very quick and convenient, regardless of business hours or other factors. It took us less than 4 minutes to open our account!
  • Children's accountThe True Wealth children's portfolio is a very safe and attractive investment for children between the ages of 0 and 17.
  • Mobile Apps: The True Wealth apps are available for Android and iOs.
  • Pillar 3a: Precaution with the True Wealth Pillar 3a Solution and, if desired, even with automatic replenishment from the free investments and WITHOUT an administration fee!
  • Low riskko: Firstly, an investment in ETFs is a very broadly diversified investment. You are investing in countless companies at the same time and are therefore betting on the entire market. 2. your investments are held separately at True Wealth. In the event of insolvency or takeover of True Wealth, the securities are yours at all times. They are not lent out or taken into the insolvency estate.
true wealth experience report and review with comparison selma finance 2023 test report
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  • High security: All cash deposits up to CHF 100,000 are payable as of Swiss deposit insurance secured. Those who choose BLKB when opening an account even benefit from an unlimited state guarantee from the Canton of Basel-Landschaft.
  • True Wealth Performance: Depending on your strategy, your return or performance will of course vary. For example, if you choose a global strategy and invest in broadly diversified, global ETFs, these have generated returns of around 6-7% per year over the last 30 years. TW will build a balanced strategy for you and suggest commodities and, for example, property as an addition. You can still use the True Wealth total costs of around 0.6% to 0.7% and can thus roughly estimate your return. Of course, it is impossible to predict whether the markets will perform as well in the future as they have in the past.
  • Uncomplicated: When you open an account, your risk tolerance is determined. Afterwards, you will receive an investment recommendation based on your answers, which you can implement directly. The process is kept very uncomplicated, yet important criteria are asked. You do not have to select individual stocks, commodities, etc., but the investment strategy designed by professionals is adapted to you. 
  • ETFsMore and more Swiss people want to invest in ETFs. They are uncomplicated and are becoming more and more popular. Unfortunately, ETFs are not yet very widespread or cheaply available in Switzerland. The costs at the major banks are very high and ETF savings plans are not yet directly available from any provider. True Wealth therefore makes it easy for Swiss people to invest in ETFs
  • Taxes: The tax report is automatically sent to your TW mailbox in the spring. So you don't have to search for all the individual investments, but just submit the report.
💡 True Wealth degression scale - how to reduce the management fee
Assets under management Management fee p.a.
under CHF 500,000 0.50%
from CHF 500,000 0.49%
from CHF 700,000 0.44%
from CHF 1'000'000 0.39%
from CHF 1'500'000 0.35%
from CHF 2'000'000 0.33%
from CHF 3'000'000 0.30%
from CHF 5'100'000 0.27%
from CHF 8,000,000 0.25%
Important: True Wealth uses a generalised-degressive Model. Above a certain asset threshold, the lower rate applies for the Total free assets - not only for the amount above the threshold. So for CHF 1 million you pay 0.39% on the entire portfolio. There is no separate management fee for pillar 3a.

Extract from the complete scale with 28 levels. Source: truewealth.ch/en/pricing, as at May 2026.
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Start now - don't forget the code CHFRANKE! *

Negative True Wealth experience?

  • Minimum deposit: A minimum investment of CHF 8,500 is not exactly small and may put off some potential investors. Does investing only make sense above a certain amount? There may be arguments in favour of this. But a balanced ETF portfolio can also be set up with a smaller sum. After all, True Wealth children's portfolios or the True Wealth 3a solution can be opened for as little as CHF 1,000.
  • Possibilities for intervention: The advantage of True Wealth's low complexity can of course also be interpreted as a disadvantage. Of course, True Wealth cannot be used to select individual shares or specific investments. Ultimately, that's not the point.
  • Fees: Yes, we categorised the fees as inexpensive above. Nevertheless, it should be said that long-term investors should keep costs in focus. ETF investors generally think long-term and avoid fees wherever possible. A larger ETF portfolio can be very cost effective with a low-cost broker can be managed more favourably. However, you should not forget the costs of the investment process, taxes, etc.
  • Consulting scope: More extensive than with a broker, where "everything" has to be done yourself. But providers like Selma Finance sometimes offer a more in-depth service, for example in the form of a comprehensive financial check-up (special deal for Schwiizerfranke readers).
  • ETF savings plan solution: Anyone who wants to get into the Topic ETFs reads in, would like often open an ETF savings plan. This means automatically paying money from your custody account into the various ETFs every month. With True Wealth, this only works indirectly by setting up a standing order from your account to the True Wealth account. As soon as the money arrives there, it is automatically invested. You cannot temporarily store money in a True Wealth account. Worth mentioning, but not really a big deal. Especially if you have a inexpensive account from our test you have chosen.

True Wealth Alternative: Invest in ETFs yourself?

ETF investors could argue that it is cheaper to invest in an MSCI World ETF, commodity ETFs, etc. on their own. So let's make a comparison. There are some providers abroad that offer ETF savings plans on popular ETFs. ETFs free of charge be offered. Since costs for Currency exchange and a Currency risk unfortunately often forgotten in the process, we do not make this comparison.

Therefore, only a comparison with a Swiss broker makes sense. For this purpose, we choose the largest Swiss online broker Swissquote.

Swissquote has changed its trade fees to a new CHF-based scale as of 1 June 2026. SQ will now be cheaper for small trades and more expensive for large volumes. In addition, foreign currency surcharges will no longer apply. Here are three calculations for ETF purchases at Swissquote under the new model:

Swissquote examples from 01.06.2026 (per trade CHF 2’000 = CHF 10 trade fee):

    1. Portfolio CHF 20,000 saved in 10 purchases of CHF 2,000 each: CHF 100 trade fees + CHF 80 custody fee = CHF 180 or 0.90% in relation to the final assets.
    2. Portfolio CHF 40,000 saved in 20 purchases of CHF 2,000 each: CHF 200 + CHF 80 = CHF 280 or 0.70%.
    3. Portfolio CHF 80,000 saved in 40 purchases of CHF 2,000 each: CHF 400 + CHF 100 (deposit scale CHF 50-100k) = CHF 500 or 0.625%.

Explanation: Up to CHF 50,000 custody account value, CHF 80 custody account fee per year, thereafter the scale increases. Trades per CHF 2,000 will cost CHF 10 from 1 June 2026. For very small trades, it will be significantly cheaper: CHF 3 to CHF 500 and CHF 5 to CHF 1,000. Stock exchange fees are disregarded here. All Details here in the review.

Swissquote vs True Wealth: With the new tariffs from 1 June 2026, both providers are almost equally expensive for medium-sized portfolios - True Wealth's total costs are typically 0.62 - 0.72%, while Swissquote's own management costs are 0.55 - 0.90% depending on the frequency of trading. Self-directed trading only becomes noticeably more favourable with significantly larger custody accounts. What the calculation does not show: the time required for rebalancing, strategy maintenance and the discipline to stick to the plan in turbulent phases. Swissquote adds the eTax statement for CHF 85 per year, while True Wealth includes it free of charge.

It must be clearly stated here: True Wealth or, for example Finpension. 

True Wealth vs finpension

True Wealth

ETF Platform
  • Very user friendly
  • Custodian bank choice: BLKB with state guarantee
  • Sustainability: Sustainable Investment Strategy
  • Management fee 0.25 - 0.50% (degressive)
  • FX premium approx. 0.10%
  • CHF 2.5 billion in assets under management
Start now - don't forget the code CHFRANKE! *
True Wealth voucher code: With the code CHFRANKE you will receive CHF 100 fee credit in the first year - regardless of the size of your portfolio. You can enter the code when you register or up to 5 days later in the app.
TOP

finpension

Digital asset manager
  • Very user friendly
  • Full control over ETF selection
  • Sustainability: ESG strategies available
  • Administration fee from 0.39%
  • No FX premiums
  • CHF 4 billion in assets under management
Learn more about finpension

True Wealth Tutorial Video

Conclusion True Wealth Experience Report

Our True Wealth experience report shows that the concept is innovative in the Swiss market and therefore in high demand. The True Wealth assets under management is already more than CHF 2.5 billion and comes from around 45,000 investors. These investors regularly give positive True Wealth reviews and we can also provide this positive feedback.

The fact that you can only start from CHF 8,500 may hold back fresh investors. However, this should not be a knock-out criterion. Who would like to invest in ETFs in Switzerland, this can be done very conveniently with True Wealth and without much work for taxes etc.. Particularly noteworthy is also the combination with the True Wealth Pillar 3awhich allows a harmonisation of robo-advisor and pension provision. Overall, the True Wealth rating is therefore very positive!

If you want to compare innovative investment processes like the one above in the True Wealth vs finpension duel, you can use our Robo Advisor Comparison consider

What do you think of our True Wealth review? Is True Wealth a potential platform for you to diversify your portfolio? If not, why not?

We're interested in both, feel free to share your take in the comments!

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Start now - don't forget the code CHFRANKE! *

FAQ

With the True Wealth children's portfolio, a children's account can be opened and invested in for children aged 0 - 17.

The account is in the name of the child and is fully accessible to the child at the age of 18. Before that, the parents manage it.

The special thing? There is a separate access for the child so that it learns and experiences what becomes of the investments. Furthermore, the child can suggest strategies, which the parents then have to confirm before they are implemented.

Contributions from godparents or friends are also possible.

For this True Wealth Review, we spoke to CEO Felix Niederer on the phone and conducted an interview. We have analysed the platform and have been personally invested there for many years. Years of personal contact and several visits to TW's office underline this.
Our True Wealth test hopefully shows that the platform is absolutely reputable and trustworthy for us.
In the process of opening an account with TW, the robo advisor asks you about your financial situation and then suggests an investment strategy tailored to you. You can adapt the strategy and adjust it at any time in case of changes afterwards.

The Wealth Center also offers Robo Advising. However, here you have to appear at a branch to open an account. VZ fees are higher than True Wealth. 

The True Wealth ETF Look-Through allows you to see in detail which shares or securities are included in the ETFs you have selected.

This gives you full transparency about the underlying investments in your portfolio and allows you to see exactly which companies you are investing in indirectly. This helps you to make more informed investment decisions and optimise your portfolio in an even more targeted way.

The True Wealth bonus of CHF 100 will be credited to you as a fee over 12 months. To receive the bonus, enter the code CHFRANKE either when registering or up to 5 days after registering in the app in the menu under «Fees».

With smaller portfolios, you invest completely free of charge:

  • Portfolio of CHF 10,000: You save the entire annual fees (normally around CHF 65)
  • Portfolio of CHF 20,000: invest free of charge for six months
  • Portfolio of CHF 40,000: three months without fees

This is how the credit works: The CHF 100 is deducted from your management fees on a monthly basis. With a portfolio of CHF 15,000, for example, you normally pay around CHF 6.25 per month in fees. With the bonus, these are completely covered by the credit - you invest for a whole year free of charge.

Enter the code - this is how it works:

  • For new registrations: Field for voucher code directly in the registration process
  • Subsequently (up to 5 days): In the app under Settings → Voucher code → Code 4445B992 enter

Particularly attractive:

  • The credit applies to all your portfolios at True Wealth
  • Even if you have several custody accounts (e.g. free assets + children's custody account), the bonus will be credited to all of them
  • With pillar 3a (where there are no management fees), you retain the credit and can use it when you invest in free assets at a later date

Conclusion: The new CHF 100 bonus is much more attractive than the old 0.25% discount, especially for newcomers with portfolios under CHF 40,000. You can test True Wealth risk-free for one year. Important: The code 4445B992 must be entered no later than 5 days after opening the account!

True Wealth uses a flat-rate degressive fee model: as soon as your free assets exceed a certain threshold, the management fee is reduced for the entire portfolio - not just for the amount above the threshold.

Most important stages:

  • under CHF 500,000 → 0.50% p.a.
  • from CHF 500,000 → 0.49% p.a.
  • from CHF 1,000,000 → 0.39% p.a.
  • from CHF 2,000,000 → 0.33% p.a.
  • from CHF 8,000,000 → 0.25% p.a.

The complete model has 28 levels, which allows a very fine-grained reduction. With assets of CHF 1.2 million, for example, you pay 0.37% on the entire portfolio.

Important: There is no separate management fee for pillar 3a - it is free of charge with True Wealth. The degressive scale only applies to free assets.

121 responses

  1. Hello
    I live in Switzerland and have two investment accounts abroad, denominated in EUR and USD, containing individual shares, funds and ETFs. At the moment, my father manages these accounts, but not for much longer. I don’t want to pay for expensive asset management, and I’m not in a position to manage the accounts myself (too little experience, no time). I’m hesitant about TW because the investments are made in CHF, which means currency conversions take place. Would I be better off investing my existing funds directly in ETFs denominated in USD or EUR myself, or does it ultimately make no difference whether I invest in CHF (without currency hedging) or in a foreign currency?
    Kind regards
    Oli T.

    Reply

    1. Hello Oli

      The account or trading currency is not, in principle, the same as the currency risk associated with the investments. In the case of a globally invested ETF without currency hedging, it makes no significant difference to the currency risk whether the ETF is traded in CHF, EUR or USD.

      However, there is no one-size-fits-all answer as to whether switching to True Wealth makes sense. This depends, amongst other things, on the structure of your existing investment accounts and the consequences of any transfer or sale.

      If you’d like to compare different providers, you’ll find our robo-advisor comparison here, highlighting the key differences: https://www.schwiizerfranke.com/robo-advisor-schweiz-vergleich

      Kind regards
      Eric

      Reply

  2. I’ve been with Truewealth for half a year now. My conclusion so far, in a volatile market environment: for a conservative global portfolio with a high proportion of bonds and around 20% in equities, with or without currency hedging, costing under 500, Truewealth is too expensive and offers too low a return compared to the competition. The fees/operating costs and the chosen ETFs (particularly those for currency hedging) eat into the returns. The question is: is currency hedging worth it for foreign-currency bonds? The competition steers well clear of it.

    Reply

    1. Thanks for the detailed report, Harry; that’s exactly the sort of feedback that helps other readers.

      However, one point is not quite right: the competition is by no means shying away from foreign-currency bonds. Hedging is the norm for bonds, not the exception. The reason is simple. A bond might yield 1 to 3 per cent, whilst the fluctuation of the US dollar or euro against the Swiss franc is around 7 to 10 per cent per year. Without hedging, you’re effectively holding a currency bet with a small coupon attached. In doing so, you’re undermining the very thing you’re holding bonds in your portfolio for: stability. With shares, it’s the other way round; hedging is often not worthwhile there.

      What you’re feeling isn’t primarily the cost of hedging either. That’s minimal. Hedging neutralises the interest rate differential between the Swiss franc and the foreign currency. It feels like a charge, but it isn’t one. If this effect didn’t exist, anyone could pocket higher foreign interest rates risk-free.

      The legitimate question is therefore a different one: why invest in foreign-currency bonds at all, when CHF bonds fulfil the same purpose without this detour? In a defensive portfolio, that is a legitimate point of view.

      Just to check I’ve understood you correctly: what do you mean by «under 500»? Is that the monthly contribution or the return in Swiss francs? It makes a big difference to the assessment. Regardless of that: with a 20 per cent equity allocation, half a year isn’t a meaningful assessment period – it’s just noise.

      Reply

      1. Refers to the fee structure = for capital of less than CHF 500,000. This is on a sliding scale.
        The total investment costs amount to 0.63% (management fees 0.50% + product costs 0.13%). This does not include the foreign currency surcharge. As I understand it, currency hedging with Truewealth applies to both bonds and shares. It is therefore not freely selectable. As regards CHF bonds, I understand that these cannot be selected as such, as only the ‘Global’ or ‘Sustainable’ investment universes are available.
        I also don’t think the allocation/selection of equity ETFs is ideal, both in terms of market allocation and the specific ETFs themselves (TER, fund size, no ‘best-in-class’ selection). Of course, you can adjust them manually, but that just generates further costs… for me.
        For me, this turbulent six months under Trump is quite representative of how the portfolio might perform over a longer period. I have a virtually identical portfolio with a 20% equity allocation with a competitor, which has delivered double the return with lower investment costs, excluding foreign exchange surcharges and including stamp duty, over the same period.

        Reply

        1. Thanks for clarifying that, Harry.

          As far as I am aware, two things are different: Currency hedging can be
          disable it; there’s even a dedicated FAQ entry for this on TW.
          And you can weight asset classes or exclude them entirely. What you
          you cannot choose the specific ETF within a class. Since
          You’re right. It’s best to ask about your specific portfolio
          check directly with TW Support.

          As for the rest, I stand by my view: half a year is not a sufficient period for assessment—
          period, no matter how turbulent. The costs, on the other hand, are certain.

          What I do understand, however, is that with a 20 per cent shareholding, the expected
          The return is low, and the 0.63 per cent fee eats into it significantly on a pro rata basis
          more than with an aggressive portfolio. If your other portfolio
          If that suits you better, it’s a perfectly valid decision.

          No investment advice.

          Reply

          1. Thanks, Eric
            Regarding the last section: It cannot be the aim simply to cover the TW fees – which, in my view, are too high – and inflation of «0.5» per cent (more like 2%). You’re quickly getting into the realm of savings account interest rates with special terms. In my view, it’s not worth the effort. An aggressive portfolio also entails higher risk for the investor and is no longer consistent with the risk profile. Rebalancing then incurs additional costs. After all, it’s not possible to hold multiple portfolios with TW. So we’ll have to move on where possible, or simply work with different providers.

  3. Is it still possible to enter the voucher code somewhere (May 2026)? I can't find a field for it.

    Reply

    1. Yes, you can still enter the code. You can enter the code in the menu under «Fees» up to 5 days after opening an account. Does that work?
      Otherwise, please get in touch here or with TW support

      Reply

  4. Assuming someone has assets of 300,000 francs and is dependent on a withdrawal of 15,000 francs per year, does it make sense to invest with True Wealth, and if so, which part would be advisable? Thanks&Greetings

    Reply

    1. Good question! The 5% withdrawal (CHF 15,000 to CHF 300,000) is ambitious, but not impossible. As a rule of thumb: below 4% is solid in the long term, above that you need a buffer.
      True Wealth can make sense, but it is also important to plan your budget correctly

      Reply

  5. I have been a satisfied customer of TrueWealth for several years now and can clearly recommend the company!

    Reply

  7. At Truewealth, you can also deposit in euros. Does it actually make sense to do so (if you have surplus euros from a previous life), or would it be better to convert the euros into Swiss francs and then deposit them? Or does it ultimately not matter at all?

    Reply

    1. This can be very useful! Your strategy will probably also include investments in foreign currencies (EUR, USD, GDP, etc.), and this will allow you to reduce currency fees.
      Of course, this only makes sense if you already have the currencies available...

      Reply

  8. Assuming the TW strategy does not suit me, can I cancel after one year? If so, would you transfer the amount to the specified account, for example?.
    I remember the Behring case. Could that be it?
    Regards, M Keller

    Reply

    1. Hello Mr Keller
      Good questions! Regarding your points:
      Termination: Yes, you can terminate at any time – there is no minimum term. True Wealth will then sell your investments and transfer the amount to your designated reference account.
      Behring case: Understandable concern, but the situation here is fundamentally different. With True Wealth, your assets are held by a regulated custodian bank (Saxo Bank Switzerland or BLKB) – not by True Wealth itself. Your securities are special assets and remain protected in the event of bankruptcy. True Wealth has no direct access to your funds, unlike in the Behring case.
      Kind regards
      Eric

      PS: For anyone wondering what this refers to... The «Behring case» refers to one of the biggest investment fraud cases in Switzerland – asset manager Jürg Behring embezzled hundreds of millions of pounds of client funds in the 2000s. The funds were gone because they were not kept separate from the asset manager. With regulated providers such as True Wealth, this is now impossible thanks to the custodian bank structure.

      Reply

  9. Thanks for the great summary. Would you set up another custody account somewhere else in addition to the TrueWealth custody account for security reasons once you have reached around CHF 100,000? Or would you simply continue to invest with TrueWealth? LG and thanks in advance!

    Reply

  10. I have been using TrueWealth for several years. I am very satisfied. Enter the referral code when registering!

    Reply
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