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Formuesforvaltning becomes Formue
Formuesforvaltning was established in the year 2000 and now has substantial operations in both Sweden and Norway. The company has over 350 colleagues who help clients with advisory services and management of their NOK 128 billion in assets. We are now combining our activities under a common brand name – Formue.
“By using the name Formue we are now extending our proud history, while at the same we are more explicitly conveying that we are a Nordic player who achieves results for our clients beyond the return on the capital we have under management,” says CEO Øystein Bø.
The Nordic word formue comes from German Vermoge, which can be translated as ability. Each fortune has a history, and a potential or an ability. Properly managed, wealth can create both security and help realise dreams. By investing wealth, capital is also made available for business and capital markets.
“Our task as independent advisors will always be helping clients realise their potential and achieve their goals. In this way, we fulfil our vision of helping the clients to experience a richer life,” Bø points out.
In recent years, many talented entrepreneurs in Norway and Sweden have succeeded in building valuable companies, and we have witnessed a high level of transactions. Formue is experiencing strong demand for wealth management services.
“Last year, we were entrusted with NOK 15 billion in new capital thanks to the confidence that existing and new clients place in us. Combined with the 13 billion we generated in client returns, the capital we have under advisory, and management increased by 28 billion to NOK 128 billion,” says Bø.
“Our company is always moving forward. The name Formue reflects the company we are today, while at the same time challenging us to achieve far more. Important goals for the future are to develop ever more valuable services and advice for our clients, and to help more clients throughout the Nordic region. During the year we will open three new offices in Sweden, and we are evaluating expanding beyond Norway and Sweden” concludes Bø.