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The ZKB is 150 years old, but has shown since 2020 with frankly that it has not slept through digitalisation. frankly has now acquired over 95,000 customers and by 2024 will already be managing more than 2.5 billion Swiss francs.
What exactly the frankly ZKB app is all about and how it works in the Comparison with other pension solution, we discuss here. You can also read our frankly experience report to find out why a 3a custody account is superior to a 3a account and how you can easily optimise your pension provision!
If you would like to do your own frankly test directly, use our Voucherto receive additional starting credit.
It is no longer a secret that there are quasi no interest gives, Inflation However, it is. This is not a good starting point for free assets, such as pension assets in interest-bearing accounts.
The traditional company ZKB has recognised this and is counteracting it with the frankly 3a app. A frankly account can be opened within a few minutes, a Investment strategy and tackle your 3a pension provision. Instead of hoping for interest, frankly offers a customisable way to invest in Securities (shares etc.). This allows you to increase your provision for more balanced Optimise risk in the long term.
Find out what the frankly experience looks like in detail below!
The frankly app is divided into 3 parts for registration:
The design and simplicity have a very positive effect on our frankly experience. In our test, there were problems with the ID scan at first, but it worked straight away when using the driving licence.
By the way, you don't have to be connected to an employee via video call to verify your identity. Everything works directly in the app and so the account opening was completed after about 5 minutes.
Indexed or Active? You will be asked this question by frankly if you decide in favour of "self-employed". The question is rather difficult to answer for laypeople, but a philosophical question for insiders.
If you are interested in Indexed Anlangen this means that you can rely on passive managed indexes. An example of this would be funds that are managed by an algorithm in a cost-effective and very efficient manner (e.g., "fund of funds"). ETFs).
Active on the other hand, would be a fund that is actively managed by people who usually receive high salaries and who, in plain English, "think they are smarter than the others".
Why do we put it so provocatively? It has been proven that most actively managed funds underperform the index. Briefly: We choose the frankly "Indexed" strategy, i.e. passive.
Incidentally, it is interesting to note that frankly already indicates a higher expected return for "Indexed" than for "Active".
Since this is often asked for, there is a note below in the FAQ about the frankly Performance.
Since 2021, frankly investors with high Share quota a sustainable Investment solution.
The active investment group "Swisscanto AST Avant BVG Responsible Portfolio 95" makes it possible to invest sustainably in portfolios.
As standard the ESG standard was used for the assessment and an annual CO₂ reduction target was set. The communication did not specify how much CO₂ is to be saved. In general, you should note that sustainability is not a defined term.
If you have a special focus on sustainability, you should take an in-depth look at the topic of sustainable investing employ.
We could handle the frankly fees point very briefly, because frankly makes short work of this. 0.44% All in fee is currently charged by frankly! Currently? Yes, because in the beginning it was 0.48% and as soon as frankly has collected a total of 5 billion francs, the fee falls to 0.43%. The more successful and larger frankly becomes, the more users benefit.
Incidentally, the frankly costs are always the same, regardless of whether you opt for active or passive investments and regardless of how high your equity allocation is.
The all-in fee of 0.44% is very favourable and fair.
Know the fees of frankly no fees on cash deposits.
Tip: frankly is particularly good value with high equity ratios. Especially for young people or if the 3a withdrawal is still more than 10 years away, a high equity ratio makes a lot of sense. Don't worry, frankly will help you with this.
By the way, your pension fund (2nd pillar) also includes shares. So there's no reason to be skeptical here.
| Fee ** | Frankly equity exposure (strategy) |
|---|---|
| 0,44% | 10% shares (Light 10 Active) |
| 0,44% | 26% shares (Gentle 25 Active) |
| 0,44% | 45% shares (Moderate 45 Active) |
| 0,44% | 75% shares (Strong 75 Active) |
| 0,44% | 95% shares (Extreme 95 index) |
| Fee ** | Viac Equity exposure (strategy) |
|---|---|
| 0,40% | 20% shares (Global 20) |
| 0,41% | 40% Shares (Global 40) |
| 0,41% | 60% shares (Global 60) |
| 0,41% | 80% Shares (Global 80) |
| 0,41% | 97% shares (Global 100) |
**Sources
frankly strategies and fees / Viac strategies and fees. Errors excepted, please check actuality.
You have a Job interruptionWhat is the reason for this, for example, because you are going abroad or reducing your working hours considerably and are no longer affiliated to a pension fund?
There are so many reasons for a Free movement solution (FZ for short). You can temporarily park your money from the pension fund in an FZ account and earn interest on it. ZKB even offers you a frankly Vested benefits deposit with up to 75% equity exposure at your disposal. In this way, you can have your pension money work for you even during longer interruptions in your employment.
Here are some important facts about the frankly FZ offer:
Are you young and still have a long time until retirement? You don't plan to use your 3rd pillar to buy a house in the near future. Homeownership to use?
Then, theoretically, you can take a higher risk and thus achieve a higher Share quota if that suits you. Accordingly, you can, for example, choose a frankly 95 Extreme Index strategy to obtain a very attractive pillar 3a.
The possible equity component is as follows for frankly particularly high and the app is extremely helpful. Even beginners have no problems opening an account. If you have any questions, you can reach the ZKB support team by phone at any time.
The ZKB passed the frankly experience report check without any problems! As with other providers, we naturally look at the whole thing long-term and will keep you informed.
Does frankly appeal to you? If so, we'll give you CHF 35 starting credit with the Code Schwiizerfranke. By doing so, you support this blog and receive a bonus for your provision!
frankly is not for you? Click here for the Comparison with other 3a providers.
There are of course many solutions for the 3rd pillar. But if you're looking for favourable fees, digital solutions and, above all, high equity ratios, frankly is the right choice for you.
In our Pillar 3a securities test, the frankly 3a experiences particularly positive failed
If you not only want to have your 3rd pillar managed smartly, but also your savings account and investments, you should take a look at our Selma review take a closer look. Selma Finance offers highly innovative solutions in the Swiss market and we have of course taken a closer look at them for you.
Transparency Note: We are in a paid partnership with frankly ZKB. Regardless of this, our opinion in this frankly review is absolutely positive, as shown above. We only recommend solutions of which we 100%ig are convinced!
Note on the CHF 35 voucher code:
* You will receive a fee credit of CHF 35. Only valid for frankly new customers. Code cannot be combined with other voucher codes. Redeemable until 31.12.2024. © 2020 Pension Foundation Savings 3 of Zürcher Kantonalbank
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28 responses
Thank you very much for this report 🙂
I have a similar question to the one Richard asked on 4 May 2020, but I wasn't completely satisfied with the answer, or rather I didn't really understand it yet 😉
I would like to open a 3a pillar with Frankly and pay in and invest for the long term (over 30 years) with an investment strategy of 75 or 95. I also came across the additional costs in the factsheets. I had actually decided in favour of an indexed deposit because I have read in many places that this strategy simply makes more sense in the long term. It is also often said that passive funds are cheaper because there are no management fees. Strangely enough, however, the opposite is the case with Frankly:
Let's take the example of the "frankly Strong 75"
- the active "responsible" fund only has a TER of 0.02%
- Although there is no additional management fee for the passive/indexed fund, there is a TER of 0.04% and additional issue charges of 0.13% and redemption charges of 0.08%.
Isn't that illogical? And are the fees high (I find it hard to estimate)?
LG Julia
Thank you very much for your great website. The reports are very user-friendly. Keep up the good work!
Now another question: I currently still have my 3a assets invested in a fund at a "normal" bank (I now have two 3a accounts). Now I would like to transfer this money - which amounts to several tens of thousands of francs - to either Frankly or Viac, as the fees are lower. I will choose a fund with a high equity component.
What is your tip regarding the deposit? How should I handle this? It wouldn't be smart to invest all my assets in the fund "in one go", would it? How much should I pay into the fund each month? And is it correct that I should "withdraw" all the money from the original bank straight away and then pay it into the new fund at Frankly/Viac in instalments? Or should I withdraw the money from the original bank in instalments and then pay it into the new fund at Frankly/Viac?
In addition: From what amount do you recommend a second or even third 3a account?
Thank you for your help. LG
Hello Philipp
Thank you for your question!
You can only dissolve 3a pots as a whole. So you cannot partially dissolve them for a move.
On the question of staggered staggered or immediate investment: The scientific answer is that you can invest everything directly - if you have a sufficiently long investment horizon (historically this has been around +10 years).
How much per month after that? If possible, you can consider paying in the maximum amount / 12 every month, i.e. currently CHF 588.
Hope this helps you 🙂 None of this is investment advice.
Kind regards,
Eric
First of all, thank you very much for your valuable reports! It helps me incredibly. 🙏🏼
I can't quite figure out Frankly in terms of cash/cash deposits/account balances.
Are the 3 terms you use in your post identical? So is it the uninvested capital that is meant?
And if not, how do they differ?
Then I have a second question about the fees and interest. Your post contains these 3 statements:
1. "All-in" Frankly charges of 0.45% also levied on cash (uninvested capital).
2. new since July 2023: No more fees on cash deposits at Frankly!
3. 0.15% Interest on account balances
Does this now mean I will no longer pay fees of 0.45% for the uninvested capital from July 2023 and will instead receive 0.15% credit interest?
Thank you for your answer 😀
Dear Claudia
Thank you for your message.
Cash/cash deposits and account balances are more or less the same thing, right. We are simply talking about not money invested.
And that's right, since recently the All In fees no longer apply to account balances, but you now receive interest on credit balances. So you profit twice. The amount of interest can and will still change.
Very dear greetings
Eric
Hello
I would like to open an account, but I am already 57 years old. Does it still make sense to invest in Frankly?
Sabine
Hello Sabine
It depends on when you retire or when you want to draw pillar 3a. In 7 years? Then you can possibly still use a small equity component with Frankly (the app will advise you on opening it). However, a high share of equities would not be ideal because of the investment risk.
Of course, if you work longer hours, it's a completely different story 🙂
Hello everybody
New voucher code for frankly 3a pillar.
You will receive CHF 35 when you open a new frankly 3a pillar account ;-).
Greetings to the community and thank you for the great experience report! 🙂
I am very satisfied with the simplicity and professionalism of frankly (ZKB).
Savings tip: 50 Fr. voucher code for you
Kind regards, Silvia
Hi SchwiizerFranke - really like your site/enthusiasm/info. (I've worked in ETFs for years).
If you're ever in Küsnacht and want a coffee/beer,
David.
Kajani recommends VIAC for your Pillar 3a pension.
If you, like Kajani, would like to benefit from the unrivalled low fees, then become a VIAC customer now.
The best thing: thanks to Kajani's recommendation, you pay no management fee on the first CHF 500.00 of pension assets - for life! 🙌
Use the following code when registering: 7Cm1nvQ
I'm currently testing Raiffeisen Rio in the free pension plan, I also think it's cool and runs great. I'm curious to see whether Raiffeisen will also expand the offer to include 3a
Hello, can I invest my capital with frankly in 2 or more investment funds from Siwisscanto?
If, for example, you have 2 pillar 3a accounts and transfer both to frankly, the depositor protection security is no longer given. Or is this not the case here.
Hi Michèle, if you transfer your money to Frankly, I assume that you also invest in securities (equity funds) there. Right? These are always protected indefinitely as they are registered in your name and do not become part of the insolvency estate if ZKB (or any other provider) becomes insolvent. Cash deposits in interest-bearing accounts are protected up to CHF 100,000.
Does that help you?
I can really recommend Frankly. Not only the fees are a great thing, also the app and the service is top.
The transfer from my "old" 3A account hoarded at a third-party bank could not only be authorised completely in the app,
but also the transfer of the credit to the New Frankly account was already done in only 2 banking days!
Thanks for the interesting article.
Can you still tell how fast one can withdraw (sell) the invested money at Frankly?
Since I expect relatively large movements over the next few years, this is important to me.
With VIAC, rebalancing is only possible at the beginning of each month.
Yours sincerely
Hello Harald
thank you so much for your feedback 🙂
It takes 5-6 banking days for the sale and new purchase to take place. More info under http://www.frankly.ch/faq
Love!
I am very happy with Frankly!
Kind regards
Robert
Thank you very much for the report, very interesting! But do these 0.48% really cover all fees? In the FAQ of Frankly you can find for example
"The issue and redemption fees for index-linked investment products are not included. These are listed in the respective factsheet."
In the case of the indexed investment products offered with a high equity component, e.g. Extreme 95 Index or Strong 75 Index, Swisscanto states that there is an issue surcharge of a maximum of 2%.
So this could make a big difference in terms of fees. Are there any testimonials from existing customers about how high this issue surcharge really is in practice?
Hello Richard, thank you for your positive feedback and your eye for detail! Since Frankly has started from scratch, we'll have to wait a little longer for the actual fees.
The flat fee of 0.48% is also charged on cash and bonds (with low yield), so the fee is higher overall, or negative interest distorts the overall result. After all, not every client goes into stocks at the maximum and especially with conservative strategies Viac is cheaper than Frankly (0.39% fee). In my experience, young people with a long investment horizon often go into stocks with more than 70%. With such a strategy, Frankly is cheaper than Viac.
Many greetings!
Hello Eric
I am still not clear about the issue and redemption fees. Will I be additionally charged the respective issuing and redemption fees when buying/selling the investment products, or is this included in the lump-sum settlement?
Many greetings
Hello Peter
directly apparent at least not. Has anyone here already made other experiences or nachgehakt?
no fees or other surcharges are charged, you are charged the daily rate of funds.
I had bought for good 40k the Extreme 95 funds and within two weeks with good 10% profit again rausgejagt.
on the statement are the daily rates, where is published.
Disadvantage is halt, with purchase or sales pass up to three days, one has no control to which course the really traded.
with normal days can be to zero difference, but with some days some percentages are quite in it.
Personally, I'm not all that excited about Frankly.
all these instruments are possible at other banks without fees. possibly already included in the fund.
at Frankly is every three months with me good 50 CHf abezogen, verzins is with 0.05 haha.
So every year minus interest credit balance, yet 200CHF less for my pension, if I do not actively trade.
I'm not sure if I understand correctly that there is active "trading" in the 3a account or if the action was just for testing. There is no investment advice here. However, I would like to point out to the general public that retirement provision can be seen as a long-term investment and that the long investment horizon means that less consideration needs to be given to short-term fluctuations. In my opinion, active "trading" in the 3a account is not necessary or advisable.
Love you! 🙂
Of course there are still the TER surcharges (annual investment bonds) which are around +0.21% for most investment options. You can call the Frankly free number, they will explain more. With 0.46% everything is covered except the TER, but this is still cheaper than the normal bank offers for pillar 3a. But remember, money that is not invested is also subject to a 0.46 fee. That is with normal Säulen3a often not with fee. Lg Adrian E.
I can choose a specific topic for one of them, such as sustainable products. Or are there only flat-rate packages?
Hello Rainer, at Frankly the investments have been subject to the Responsible Standard and thus the ESG guidelines since October 2020. With Viac you can
choose a sustainable focus. Sustainability is not a defined term, here you should look in detail if this is important for you.
Kind regards