Wealth Management Services

All Private Banks provide Wealth Management services. In fact, “Private Banking” and “Wealth Management” are interchangeable terms in most cases. Wealth Management services covers many aspects of financial dealings, including independent financial consultation, managed investments and trust facilities.

• Financial Advice

As professional financial advisors, Private Banks normally offer financial advice to their customers. Consultation may be charged or free, depending on the nature of the situation and the policies of the Private Bank.

• Foreign Exchange

Clients that deal extensively with companies or individuals that are based abroad, or transact regularly in other currencies aside from the local currency, may require specialised foreign exchange services.

Many private banks provide such services that are designed to make efficient use of the funds as they are exchanged between different currencies, maximising the value of the amounts being transferred while minimising the expense of taxes and charges that may be levied against foreign financial transactions.

• Investment Management

If clients already have investments in place, private banks usually offer their professional management investment services. Through these services, funds that are already invested can be efficiently managed whether it involves capital placed into other companies, stocks and shares, treasury bills, debentures or any other similar financial products available on the market.

Through investment management, private banks offer their clients the best possible return from their investments.

• Offshore Banking

Because of the large deposits that private banks often have to handle for their clients, offshore banking is a common practise to ensure the maximum return on investments or deposits.

Offshore bank accounts are not subject to local tax regulations that tend to be either expensive, restrictive or both; hence, funds deposited offshore can minimise the usual cost of taxation.

• Trusts

A trust is a legal agreement between yourself and a trust company. Essentially, you place your assets into an account and the trust company agrees to manage the assets and execute your instructions regarding their distribution.

Private banks often provide trust services for their clients, offering their services as the trustee in order to undertake the management of the assets held in trust, in accordance with needs and requirements specified by the client.