Any private banking customers here?

[shareholder]

Even better, I am fully licensed and yet I don't sell any products - no conflict of interest.

Please share what's the difference between fully licensed and ifa? Thanks.

 

[Mancunian2]

Private banks are decaying - more senior and even junior bankers are shifting to the External Asset Manager platform. There is a much smaller conflict of interest for the client while the advisor is free from most non-key activities that banks force on to them.

This trend is just beginning in Asia and will continue to accelerate as more HNWs and UHNWs realise that private banks and priority platforms do not always have their interests at heart.

I am in the segment amongst others and this is one of the key places to be.

what is this External Asset Manager thingy?
keep hearing it but no inkling what it means

 

[firsttimebuyer]

what is this External Asset Manager thingy?
keep hearing it but no inkling what it means

I am also interested to know what is the external asset manager thingy too.

 

[wiz]

EAM are independent advisors who charge a fee to clients for advice rather than paying a commission to buy a product.

 

[technophobix]

Think the really good fund managers able to get really high returns are actually still working for PB's only in order to access HNWI's.

Don't think this is really allowed by the PB's but that's just the way it is, anybody can comment?

 

[firsttimebuyer]

Do all PB account holders automatically get a private banker/account manager assigned to them or can they choose not to have a private banker? just curious about this strange world of high-finance.

 

[firsttimebuyer]

EAM are independent advisors who charge a fee to clients for advice rather than paying a commission to buy a product.

thanks for your reply

 

[arctician]

i am just curious why all private bankers have to be good lookers

 

[wahkao3]

i am just curious why all private bankers have to be good lookers

sales ppl mahhh

 

[sAVaGEmP5]

Think the really good fund managers able to get really high returns are actually still working for PB's only in order to access HNWI's.

Don't think this is really allowed by the PB's but that's just the way it is, anybody can comment?

Good n big funds are usually allowed to only talk to high networth ppl anyway. They cant market openly though. And high networth ppl will normally have a PB who will represent them.

From manager POV to talk direct to client and sell, u will waste alot of time. Get access thru PB and u will get access to even more money and clients and since there is already an existing relationship, leverage on that.

 

[Happygirlzz]

i am just curious why all private bankers have to be good lookers

Nt necessary so...i see some private bankers average joe or plain jane ...walk inside private banking know liao.. nt necessaty must be handsome or pretty lor.. what about bankers who serve the normal crowd ? Also got good lookers n normal de ma.. mix mix one la...

 

[henrylbh]

There was a lucky bank counter girl got married a billionaire son. Anyone knows?

 

[cybercom8]

i am just curious why all private bankers have to be good lookers

not really lei...i have met some buis buis...thinking they may be edmwers

 

[limster]

Nt necessary so...i see some private bankers average joe or plain jane ...walk inside private banking know liao

another private banking customer spotted. normal people cannot simply "walk inside private banking" lounges

HWZ got a lot of single HNW people. Need Mod to organise more meet-ups!

 

[Squaredot]

There was a lucky bank counter girl got married a billionaire son. Anyone knows?

i duno. is she very chio?

 

[arctician]

not really lei...i have met some buis buis...thinking they may be edmwers

another private banking customer spotted..i can direct the movie 卧虎藏龙 already

 

[Happygirlzz]

not really lei...i have met some buis buis...thinking they may be edmwers

Ya lor.. exactly.. walk inside will know already.. idk lahh , i myself not HNW, i jus follow parents walk to couple of banks private banking branches n lounges then realised de.. but my parents like also nt that HNW lehh?? I curious how much my parents hv also..lol! I ask them they say secret n dun wan tell me.. i mean, wats so secretive about that?! So anyone knws wats the min amount to be considered as private banking customers? 200k? 350k?? 500k? 1million?? 2 million? 5 million up? Or???

 

[arctician]

Ya lor.. exactly.. walk inside will know already.. idk lahh , i myself not HNW, i jus follow parents walk to couple of banks private banking branches n lounges then realised de.. but my parents like also nt that HNW lehh?? I curious how much my parents hv also..lol! I ask them they say secret n dun wan tell me.. i mean, wats so secretive about that?! So anyone knws wats the min amount to be considered as private banking customers? 200k? 350k?? 500k? 1million?? 2 million? 5 million up? Or???

1.5M for DBS private client..pte client is really of different league

even the RMs (i see from linkedin one) are like models

 

[tmkedmw]

1.5M for DBS private client..pte client is really of different league

even the RMs (i see from linkedin one) are like models

Strictly speaking, the 1.5m is for DBS Treasures private.

Quite a few banks have a tier between priority and private.
DBS is one of them and they call it Treasures Private, Citi has Citigold Private, a higher tier than Citigold... and UOB has Privilege Reserve.
Typical entry point is >$1m for this intermediate tier.

 

[Happygirlzz]

1.5M for DBS private client..pte client is really of different league

even the RMs (i see from linkedin one) are like models

Wow.. so many diff tiers one ahh..lol.. like priority banking n privilege banking n ptivate banking..so many diff tiers.. haha...