Just over two years since its founding, Swiss asset manager Lumen Capital is embarking on its second development phase. The firm is seeking entrepreneurial-minded professionals to create value-added solutions for clients and contribute to shaping its business model, board member Nick Pfau told finews.com in an interview.
Nick Pfau, what motivated you to join the Swiss asset manager Lumen Capital as a partner and board member nearly two years ago?
My know-how and extensive experience in the financial industry, particularly in building and developing a financial boutique, motivated me to contribute to Lumen Capital.
What specifically is your contribution?
My focus is on placing the client at the center of our philosophy. I see three key areas: Firstly, the advisor should be able to give the client the necessary time and attention to identify their wishes and needs and to develop a tailored solution with them.
«I call this comprehensive advice»
In this approach, the advisor becomes a trusted confidant. However, meeting all these quality requirements demands that an advisor looks after a manageable number of clients.
What is the second point?
I call this comprehensive advice: it involves not only considering the client's total assets but also their entire situation, including investment management, financial, tax, and estate planning, and for entrepreneurs, succession planning, which inevitably comes sooner or later.
And finally, what is the third point?
Baby boomers, those currently around 60 years or older, need to address the transfer of wealth to the next generation. As asset managers, this necessitates rethinking our client services and care strategies.
How should this be envisioned?
For example, our focus should shift from solely the individual client to the entire family. This involves establishing and maintaining contact with heirs, such as sons, daughters, and other descendants. This approach aims to increase the next generation's awareness and understanding of financial matters.
«These are not just my ambitions, but those of the entire team»
Sometimes, services and investments must be adapted to the wishes and needs of the next generation. I think of topics such as sustainability – ecological, social, and economic or digitalization.
What goals have you set with your involvement at Lumen Capital?
The company has established itself within two years as an independent, trustworthy asset manager that provides comprehensive advice and support to European investors in Switzerland.
Following this initial phase, the focus now is on supporting growth goals through sustainable business development, further increasing efficiency, and expanding market presence. These ambitions are shared by the entire team, not just mine.
What does this mean in practice?
Lumen Capital is already on a promising path: Our employees are already exemplifying «real» advisory with a focus on customer benefit and experience, the «Total Wealth» approach, and multi-generational advisory. We feel validated in our approach, having achieved an impressive asset size of over one billion francs in just two years.
«We are looking for client advisors with an affinity for entrepreneurship»
Now we want to accelerate our business development while maintaining the same quality for our clients. To achieve this, we will expand the existing team.
In what way?
Board chairman Wilfried Kofmehl and CEO Andreas Luder have entrusted me with the responsibility of recruiting client advisors with an affinity for entrepreneurship for Lumen in Switzerland.
How would you define these profiles?
These are individuals who thrive in an environment where they can develop and offer innovative solutions that add value for their clients, thereby helping to shape Lumen Capital's business model.
Joining Lumen Capital is a highly engaging experience for me, as it allows me to meaningfully apply and share the knowledge I have accumulated throughout my career. I am excited to contribute to the next development phase of this emerging financial boutique.
Niklaus «Nick» Pfau has been serving as a Partner and Board Member of Zurich-based asset manager Lumen Capital (Switzerland) since late 2022. He brings with him a 40-year career in banking, during which he spent over 30 years at UBS and also worked for Coutts. In late 2011, he founded his own consulting firm specializing in Private Market Services and Wealth Management, AnP Partners.
