Kaiser Ritter Partner Group, the privately owned Liechtenstein-headquartered wealth management group, reported an improvement in profits of 19.8 per cent, while turnover went up 1.6 per cent in 2009.

Kaiser Ritter Partner Privatbank, the group’s Vaduz-based private bank, attracted new client assets worth SFr728 million (about $651 million) in 2009. Assets under management were at SFr1.8 billion, up by a net 26 per cent on the prior year.

Profits at the private bank were at SFr3.13 million, around the prior-year level, the bank said in a press statement.

The bank has a solid TIER 3 ratio of 21.6 per cent, which is notably above the legal minimum of 8 per cent.

Assets under management for the entire group are at SFr25 billion.

Kaiser Ritter Partner Group said that there has been a substantial increase in turnover from clients requiring advice on tax-compliant solutions.

In mid-2009 the group launched tax-compliant asset management services for US clients in Switzerland. Kaiser Ritter Partner Financial Advisors, which was newly established in Zollikon for this purpose, received the necessary approvals from the financial market supervisory authorities in Switzerland and the US.

The group employs 240 people in its offices in Vaduz, the capital of Liechtenstein, and Zollikon, in the Swiss canton of Zurich.

“After a successful 2009, Kaiser Ritter Partner is well positioned for the future. For years we have been analyzing the main drivers of change in the world so that our clients can ensure they are on the right side of this change,” said Fritz Kaiser, executive chairman of Kaiser Ritter Partner Holding.

“In the current environment, our advisory approach – based on finding solutions to crucial issues such as tax compliance and responsible investment – is proving to be an important differentiating factor and is attracting great interest.”

In 2009, the wealth manager sold its stake of Kyberna, the Lichtenstein-based IT company, and Principal Vermögensverwaltung, the Vaduz-based asset manager. In addition, it sold its minority shareholding in Turicum Privatbank of Gibraltar.

Kaiser recently spoke to WealthBriefing about his firm's involvement in framing the UK's Liechtenstein Disclosure Facility. For more on this, click here.