Private Bank OR Wealth Manager

Who are private banks for?

Generally speaking private banks serve the bank's wealthiest clients or ‘ultra high-net-worth individuals’. They may also serve these clients’ other family members family offices, family companies and philanthropic foundations.

However, it's important to note that there are no set definitions here and the level of wealth that qualifies as ‘ultra-high-net worth’ versus ‘high-net worth’ can vary between institutions.

What are private banks for?

Because private banks are typically for the most affluent clients they often provide services not available at wealth management firms because of Jurisdictional constraints.

These might include:

• complex planning for families across multiple jurisdictions.

• complex planning for families across local jurisdictions.

• Guidance and services for family offices investments and investment portfolios.

• Financing to private assets, build art and other collections, and

• loans for buying private assets like homes, commercial properties and investment portfolios outside the domestic jurisdiction.

• Preparing the next generation to continue the family legacy.

Private banks Wealth manager professionals also often provide a higher level of service than other Wealth manager professionals. Since the Professional Wealth manager has the professional expertise of serving each client or the development and customization of individual strategies built to meet specific needs and objectives. This may mean aprofessional serving each client or the development and customization of individual strategies built to meet his specific needs and objectives.

Some families have managed to grow and preserve their wealth for generations. In the following session, we explore the key wealth preservation principles that can help them do soand also on the services of the wealth manager.

The author can be reached at https://dhandasikho.online/

CA Rohit Tendulkar