Wealthy Americans Move Assets to Swiss Banks Amid Trump Uncertainty

Surge in demand for Swiss accounts highlights growing investor caution

As uncertainty grows around the second Trump presidency, wealthy Americans are increasingly moving their money to Switzerland. Private bankers and wealth managers on both sides of the Atlantic report a sharp rise in clients seeking to open Swiss-based accounts — particularly those compliant with US tax laws.

This trend echoes patterns seen during the 2008 financial crisis, when fears of bank instability also prompted asset relocation abroad. Now, the motivation is political instability.

Surge in Swiss Account Requests

Private wealth specialists, including multi-family offices and cross-border asset managers, are seeing growing interest from high-net-worth Americans both in the US and living overseas. These clients are seeking security, privacy, and diversification — and for many, that points to Switzerland.

Josh Matthews, UK-based co-founder of wealth manager Maseco, noted:

“The last time we saw this level of interest was during the financial crisis. Now it’s due to the uncertainty of a Trump presidency.”

One adviser shared that they were currently helping a wealthy American family transfer $5 million to $10 million to Swiss accounts.

Why Switzerland? Safety, Regulation and Reputation

Switzerland remains the world’s leading hub for cross-border wealth management, despite past controversies around banking secrecy. Its financial institutions are now far more transparent, compliant with international standards, and in many cases, registered with the US Securities and Exchange Commission (SEC).

For Americans, opening a Swiss account isn’t as simple as walking into a bank. Thanks to the Foreign Account Tax Compliance Act (FATCA), any financial institution working with US citizens must report account details to the IRS. But that hasn’t stopped the flow — it’s just changed the method.

Top institutions like Pictet and Alpen Partners, both SEC-registered, report a significant uptick in demand. Clients are opting for Swiss accounts not just for political shelter but also to diversify away from the US dollar and increase exposure to global assets.

Political Drivers: Trump, Trade, and Tax

While not everyone in the wealth management sector agrees on the scale of this shift, the fear factor is clear. Many clients are acting not out of tax avoidance but a desire to hedge against geopolitical risk.

Pierre Gabris, founder of Zurich-based Alpen Partners, said:

“Many clients are anti-Trump and driven by fear. They want options — in terms of both residency and where they hold their assets.”

These clients often have international roots — such as Israeli or Indian backgrounds — and are more familiar with managing cross-border financial affairs.

What This Means for Investors

From an investment perspective, this trend is about risk management, diversification, and long-term security. With US politics increasingly polarised, some high-net-worth individuals are viewing Swiss accounts not as luxury, but as strategic financial planning.

Swiss banks, once resistant to the compliance burden of US regulations, have adapted. By creating US-registered entities, they’ve made it easier for Americans to manage assets in Switzerland — with full transparency and legal compliance.

For investors, the key takeaways are:

• Swiss banks are open again to US clients — but only through compliant channels.
• Diversifying currency exposure (away from the US dollar) is a growing priority.
• Political instability is now a real driver of wealth migration strategies.

Conclusion: Switzerland Still a Safe Haven

Despite past scandals and tighter regulations, Switzerland continues to attract global wealth, especially during times of political turmoil. As US elections draw nearer and global tensions rise, it’s no surprise that wealthy Americans are seeking financial refuge in Swiss institutions.

For investors, this is a reminder: where politics and policy shift, capital quietly follows — and it's increasingly heading for the Alps.

Sources: (FT.com, ChatGPT)