SIX Launches Tax on Instrument Service for Simplifying Wealth Advisory Decisions

SIX Swiss Exchange (SIX), a provider of financial market infrastructure services based in Switzerland, announced today the launch of “SIX Tax on Instrument” service to provide client advisors and portfolio managers in the Wealth Advisory industry with tax classifications on individual securities.

According to the announcement, with the new service, clients are able to analyse the tax consequences of financial products, to anticipate the tax-related costs of an investment on that security and to find better investment options.

”SIX Tax on Instrument” enables clients to access up to 60 data fields per tax regime covering financial products such as Equities, Bonds, Funds and Structured Products with attributes on Income Tax, Wealth Tax, Capital Gains & Losses Tax, and generic tax details. The service meets a growing need among wealth advisors for detailed tax cost indicator information and additional tax categorisation attributes to help them make projections for expected returns, especially important in an increasingly complex regulatory environment.

The latest launch follows the roll-out of “SIX Tax Score” in September last year, which addresses the overall tax suitability aspect of financial products by looking at the tax cost of an investment.

“This latest tax offering is a great addition to our suite of tax data services, designed to increase efficiency and reduce tax complexity for the Wealth Advisory industry, enabling improved targeting of investments and portfolios,” Marion Leslie, Head Financial Information & Executive Board member, SIX, highlighted.