Good reasons to change your pillar 3a to frankly

Make the most of your pillar 3a – with frankly

Imagine that you lend somebody your car and get it back with the tank half empty. It’s irritating and it doesn’t have to be this way, right? However, it's highly likely that the same thing will happen to the money in your pillar 3a if you've opened a 3a savings account at any bank or invested in 3a securities. But what's the alternative? The answer is surprisingly simple: frankly, the pillar 3a app. Because with frankly, you even save when you’re saving. You can see exactly how much in the pillar 3a comparison calculator. Here you can compare the fees and performance of Swiss pillar 3a pension products with frankly’s investment products.

Developed by Zürcher Kantonalbank

frankly was developed just under a year ago for Zürcher Kantonalbank’s Savings 3 Pension Foundation. Today, there are already more than 45,000 satisfied clients using the pillar 3a app. A strong plus point for many here is Zürcher Kantonalbank, which developed frankly. After all, it's one of the safest universal banks in the world, with over 150 years of history as well as more than a million clients who place their trust in it.

What it’s all about – saving on fees and taking advantage of potential returns

You might be surprised that frankly can offer you such a good deal, and wonder how it's even possible. This is easy to explain, and has two main reasons:

1. Radical pricing model with a low all-in fee and community discount

Low costs are important in any kind of investment. This means that the fees should be as low as possible. Even small differences can make a big difference over long periods of time. This is why it's such a good thing that frankly is around 60% cheaper than comparable securities savings offers, as confirmed by the independent Swiss online comparison service moneyland.ch. This is made possible by frankly’s simple and transparent all-in-fee of 0.46% on account and securities balances thanks to the community discount. The fees for the safe custody of securities and the flat-rate management fees for investment products are also included.

And what’s more, frankly doesn’t get more expensive over time but even cheaper! How does this work? With the unique community discount, the prices for everyone go down the more people use it. You can track how far away the frankly community is from the next discount level at any time via the app.

2. Attractive yield opportunities through high-quality investment products

When you put your money in the 3a savings account, it doesn’t do much for you. On the one hand this is due to record-low interest rates, but on the other hand it also has to do with inflation, which steadily reduces the purchasing power of your money. In short, your 3a savings account does have tax advantages but is otherwise more of a zero-sum game. With frankly it’s different because you invest your money in securities – and only in the high-quality, excellent investment products of our partner Swisscanto Invest by Zürcher Kantonalbank.

This way, you decide with your strategy how much risk you want to take. You can choose between 5 different investment strategies and 9 products. It's useful to know that all active Swisscanto investment products with frankly pursue the Responsible approach with a wide range of criteria (for example such as reducing CO2 emissions in accordance with the Paris climate target and the inclusion of environmental, social and governance aspects). Swisscanto investment funds therefore play a pioneering role in sustainable investing.

How to transfer your pillar 3a to frankly

No more paying exorbitant fees? Invest your retirement money to get more out of it? The only thing for it is to switch to frankly as soon as possible.

Incidentally, you can also easily do this if you've already taken out a pillar 3a account or invested in securities with another provider. The switching process with the frankly app is super easy and fast. You can do it completely digitally in just a few minutes without needing to go to the bank. All you need is your smartphone and an ID card. frankly will help you every step of the way, and will even cover the transfer costs** for you and give you a CHF 50 voucher* on your fees. In other words, if you transfer CHF 10,000 to frankly for example, your credit balance will be free of charge for a whole year. By the way, do you realise that you're also paying fees on your current pillar 3a solution with securities? frankly on the other hand helps you out here with the voucher.

This is how you can get the frankly app with a voucher:

1.   Download frankly free of charge from the App Store or from Google Play

2.   Open a fully digital pillar 3a account in just a few minutes

3.   Enter the code GATE50 when setting up an account in the app and save on fees

4.   Discover frankly, make your first deposit and transfer your existing 3rd pillar savings

Save for retirement the easy way using the frankly pillar 3a app

frankly makes retirement planning easy. The app is simple and easy to understand, so you’ll always have the full picture. Everything is digital. You can find out how your assets are performing at any time, and can make deposits and access your investment strategy whenever you want. You also benefit from attractive yield opportunities and the low all-in fee. This way you get the most out of your pillar 3a – no matter where you are. So what are you waiting for? You can find more info here.

Disclaimer:
* Only valid for new frankly customers within 48 hours of first opening an account. The code cannot be used in conjunction with any other voucher codes. Vouchers can be redeemed until 31.1.22. This is an advertisement for a financial service. Copyright: 2021 Zürcher Kantonalbank Savings 3 Pension Foundation

** For the transfer of bank foundations (account closure fees and any transaction fees)

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