Private banking - who needs it?
Summer 2005
Private banking is no longer the exclusive
preserve of royalty and ‘old money’. Over recent years the range of
people who can benefit from private banking services has widened
enormously.
As well as the more traditional private
banking clients, there are now many other people who need
specialist advice on managing their diverse banking, investment and
long-term savings planning. Entrepreneurs, city dealers,
property investors and professional intermediaries as well as
sports stars, rock stars, beneficiaries of inheritance and lottery
winners are to name but a few.
In response to this demand, more and more high
street banks are offering “premium services” and charging
accordingly for the privilege. So what can a true private bank
offer that your average high street bank can’t?
In our advertising, we like to describe our
approach to private banking as “distinctly different”. The
traditional services of a private banker are still a fundamental
part of our offering and all our private clients are assigned an
experienced and discreet private banker who will be readily
available to them by phone, email and in person. What makes our
approach different, however, is that whilst our private bankers
work closely with clients and advise across an extensive range of
specialist wealth management solutions, they have no targets to
sell particular products or services. This provides for integrity,
aligned to high quality service, and an objectivity that is not
easy to find elsewhere.
In addition, our client approach is entirely
holistic – each of our private bankers is fully qualified to assess
your individual financial requirements, which may range from a
currency loan to purchase an overseas property one day to a complex
investment solution the next. They are also tax literate, a subject
that is often at the heart of discussions, and will work closely
with your existing professional advisers as required.
With such a strong client focus, our private
banking service offers considerable expertise and value for money.
Any services you require can be combined within our unique, fully
integrated Focus service. This award-winning account offers an
efficient and cost effective means of keeping track of all your
financial affairs through a consolidated reporting package. The
Focus service is also versatile and can be easily tailored to
respond to any changes in your circumstances or lifestyle.
Our private banking services are available to
those with a minimum initial combination in cash or investments of
£500,000 (or currency equivalent). Below this level, an experienced
team of professionally qualified personal bankers stand ready to
assist, with the sole aim of satisfying your needs whether they be
driven by wealth preservation, wealth creation or elements of
both.
From our offshore UK location, we can offer
the best of both worlds approach to you as a client, offering
innovative and structural techniques to optimise your potential
returns. We have private and personal banking teams based in both
our Isle of Man and Jersey offices, so if you would like to find
out more about the services we offer, simply call our client
services team.