Providing wealth management and private banking solutions to high profile clients has, now-a-days, become one of the most coveted businesses of banks. Private banking involves focusing upon the client’s portfolio including assets like traditional equity and bond investments, real estate holdings etc. All these assets are managed by personal financial advisors.
The advisors possess a wide knowledge base of finance and relevant financial matters and aid their clients in issues like tax, financial planning, retirement etc by providing helpful and precious advice. But as far as the high net worth clients are concerned, they need something more than just the conventional solutions and this is possible through private banking solutions only.
What is Private Banking?
Private banking can be defined as a set of customized services tailored for private high net worth customers. These services reflect a higher quality in comparison of services offered to other customers. Private banking services are often extended to customers who have got liquid assets of more than $250,000 but typically US$5,000,000 or more.
There is a logical and convincing reason behind why these services are provided to high net worth individuals. For these high net worth clients more tailored and bespoke solutions are created to provide better options, flexibility and this in turn, permits the banker to tailor make certain financial solutions which involve a far more diverse universe over which clients can make money from. Clearly as private banking high net worth clients have higher sums to invest a higher level of service is offered to them.
Role of Financial Consultants
Financial consultant like Richard Cayne is expert on identifying private banking solutions and their expertise can be seen as they make direct comparisons on private banking solutions offered by some of the major global players.
These experts consult on highly personalized private banking solutions and their established, reputed and worldwide network helps their clients gain access to such a diverse range of information.
The high profile clients can also get the assistance through personalized services in which a financial manager/expert is personally assigned to take care of the management of client’s portfolio.
Conventional Banks & Private Banking
A vast array of products is offered by the banks to its customers so that their financial requirements can be met up easily and satisfactorily. Such products may include the ability for the investor to create his/her own portfolio of investments but wants a professional to manage / administer it. Stockbroking, loan, Mutual fund, hedge fund access services and structured product sercives are but a few of the services one can expect to be able to receive.
Private banking solutions provide a blend of financial products to their clients and these financial products are especially customized as per the requirement of such wealthy and eminent clients. According to Richard Cayne Meyer Asset Management Ltd, these financial products may include investment portfolio management over different currencies and various types of investment products.
The advisors possess a wide knowledge base of finance and relevant financial matters and aid their clients in issues like tax, financial planning, retirement etc by providing helpful and precious advice. But as far as the high net worth clients are concerned, they need something more than just the conventional solutions and this is possible through private banking solutions only.
What is Private Banking?
Private banking can be defined as a set of customized services tailored for private high net worth customers. These services reflect a higher quality in comparison of services offered to other customers. Private banking services are often extended to customers who have got liquid assets of more than $250,000 but typically US$5,000,000 or more.
There is a logical and convincing reason behind why these services are provided to high net worth individuals. For these high net worth clients more tailored and bespoke solutions are created to provide better options, flexibility and this in turn, permits the banker to tailor make certain financial solutions which involve a far more diverse universe over which clients can make money from. Clearly as private banking high net worth clients have higher sums to invest a higher level of service is offered to them.
Role of Financial Consultants
Financial consultant like Richard Cayne is expert on identifying private banking solutions and their expertise can be seen as they make direct comparisons on private banking solutions offered by some of the major global players.
These experts consult on highly personalized private banking solutions and their established, reputed and worldwide network helps their clients gain access to such a diverse range of information.
The high profile clients can also get the assistance through personalized services in which a financial manager/expert is personally assigned to take care of the management of client’s portfolio.
Conventional Banks & Private Banking
A vast array of products is offered by the banks to its customers so that their financial requirements can be met up easily and satisfactorily. Such products may include the ability for the investor to create his/her own portfolio of investments but wants a professional to manage / administer it. Stockbroking, loan, Mutual fund, hedge fund access services and structured product sercives are but a few of the services one can expect to be able to receive.
Private banking solutions provide a blend of financial products to their clients and these financial products are especially customized as per the requirement of such wealthy and eminent clients. According to Richard Cayne Meyer Asset Management Ltd, these financial products may include investment portfolio management over different currencies and various types of investment products.
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