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Need advice on which bank to park my assets

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Old 11-10-2018, 11:48 AM   #46
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You will be able to deploy that 3M cash soon. Wait a little more. Have some popcorn first.
Hey, you are the guy who runs your own family fund right? I remember you met up with the chaps over at the general stock market chit chat thread several years ago.
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Old 11-10-2018, 12:15 PM   #47
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If you need a no-mgmt fees type of account with Internet trading (without needing to call the RM) 24hrs with min. fees and a pre-approved Multi-currency Term facility, then DBS Treasures Pte Client is the best bet.

p/s: Dont' go to the PRIVATE BANK if they say you can. You will be charged AUM fees like UBS and other private banks.

But, the good service is non-existent for me as I told the RM i will not be buying any structured product or funds from them.

I am just doing self-directed online investing (have not bought boughts for 2 years already, all have matured one by one).

I am of the same view as you and right now, I am also having around $x mil cash waiting... and waiting... Every month .. the potential loss of a $15-20k income from stocks (had you invested) is killing me... I have been in cash since end june. .. with a little 7 figure equity portfolio still.

What do you plan to buy when it reaches 2,600? You buy ETFs or companies shares?
I signed up for the OCBC PPC when they just started the program. They treated me very well over there and I bought all my bonds with them. Great RM. Unfortunately they are not integrated with their securities side so I recently signed up with the DBS TPC as well. I am in the midst of transferring all my CDP holdings over (should be done in a couple more days). So OCBC for bonds to support my RM and all the little gifts they gave me, and DBS for shares.

Like you, I told them I am only doing my own online trading. I asked and the DBS RM says she does get a little commission from my trades so I expect more than zero service!

Now that the market is down, I am sad (my current stock portfolio is $1.3+M and going down haha) and happy that I can finally click the buy button. I am targeting bank stocks, specifically OCBC. I am watching AREIT and OUE REIT (I hope the price of the rights will go to zero). I am also thinking of Singtel (below $3). I am a newbie so my considerations are not comprehensive.

I hope the trade war will persist. I hope the FED will continue with their aggressive stance. I hope Trump will continue to be arrogant and China doesn't forget that face is all that matters to the Chinese!
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Old 11-10-2018, 09:27 PM   #48
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Good on you.
DBS got too much money flowing to them .. that's why service might not be a strong part of them unless you are a businessman or someone the RM personally like to know or work with

If you are retiree like me, there is no incentive for them to build a relationship with you.

But the strong part of DBS treasures pte client would be the integrated wealth mgmt platform. It is as strong as the UBS or Credit suisse with added bonus of online trading, minus all the fees.
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Old 13-10-2018, 10:17 PM   #49
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Good on you.
DBS got too much money flowing to them .. that's why service might not be a strong part of them unless you are a businessman or someone the RM personally like to know or work with

If you are retiree like me, there is no incentive for them to build a relationship with you.

But the strong part of DBS treasures pte client would be the integrated wealth mgmt platform. It is as strong as the UBS or Credit suisse with added bonus of online trading, minus all the fees.
Do you have the DBS Treasures Private Client Visa Debit Card and the DBS Treasures Asia membership? Did you have to apply for it proactively or did your RM handle everything for you automatically? My RM seems to be quite lacking and messed up a few things already. She didn't even mention about the above 2 items. Were you offered the Insignia card?

You mentioned 5 years ago you weren't happy with your RM. If I want to change my RM, would you know how to go about doing it? I remember there was a business development manager I met at the TPC centre months ago and she said she was responsible for allocating RMs to the respective clients. I lost her namecard.

If I want to consolidate my stuff and move up to DBS private banking, the AUM fee you mentioned earlier is the "Asset and Account Administration Fee" of "0.05% p.a. on month end assets"? It is not like the "DBS Private Bank Service Fee" of $4K where it can be "Waived at the sole discretion of DBS Private Bank if the average Assets under Management (AUM) for the preceding six months, aggregated from all account relationship(s) with DBS Private Bank, is more than SGD 5,000,000"?

Last edited by PIayDope; 13-10-2018 at 10:45 PM..
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Old 13-10-2018, 10:26 PM   #50
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I am considering buying Tencent from the HK exchange. I am not comfortable parking money with Interactive Brokers. DBS charges a custody fee of 0.20% per annum. Is that reasonable? It seems that SCB doesn't charge any custodian fees.
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Old 14-10-2018, 12:38 AM   #51
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I won't pay for that. Might as well go SCB.
DBS Treasures offered to waive custody fee for me too!

I am considering buying Tencent from the HK exchange. I am not comfortable parking money with Interactive Brokers. DBS charges a custody fee of 0.20% per annum. Is that reasonable? It seems that SCB doesn't charge any custodian fees.
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Old 14-10-2018, 01:17 AM   #52
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I am considering buying Tencent from the HK exchange. I am not comfortable parking money with Interactive Brokers. DBS charges a custody fee of 0.20% per annum. Is that reasonable? It seems that SCB doesn't charge any custodian fees.
God no, 0.2% p.a. for "custody" fees is extortion. Anything above zero is extortion.

Why aren't you comfortable using Interactive? Is it something we can help with?
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Old 14-10-2018, 09:09 AM   #53
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I won't pay for that. Might as well go SCB.
DBS Treasures offered to waive custody fee for me too!
I am going to ask for the waiver tomorrow. So far the experience with them has not been good. So many things not auto, need me to chase. OCBC PPC so much better.
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Old 14-10-2018, 09:15 AM   #54
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God no, 0.2% p.a. for "custody" fees is extortion. Anything above zero is extortion.

Why aren't you comfortable using Interactive? Is it something we can help with?
I feel insecure putting money with these online brokers. I feel the same way for FSM, Oanda, etc. $100-200K is ok but not $1-2M. Maybe I am old fashioned but I am always afraid they may swallow my money and one day my account with them will show zero balance and there is nothing I can do. At least with a bank they will not "anyhow" (I think).
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Old 14-10-2018, 12:48 PM   #55
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See my rant on DBS Treasures.

I guess being on the economy-class tier of their PB ( despite needing one of the higher amts of AUM comparatively amongst other retail banks ), their RM pretty much bo chap and even messed up stuffs. Even when I complained to the Treasures BD manager when they missed out 1 counter during the CDP transfer, also no updates or apologies from them.

I've now decided to move out some assets to join SCB priority liaoz. The RM contacted me on the very 1st day. Imagined back when I join DBST, the RM only contacted me 1 week later, and after I myself contacted her 1st to arrange for the onboarding meeting.....
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Old 14-10-2018, 01:07 PM   #56
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See my rant on DBS Treasures.

I guess being on the economy-class tier of their PB ( despite needing one of the higher amts of AUM comparatively amongst other retail banks ), their RM pretty much bo chap and even messed up stuffs. Even when I complained to the Treasures BD manager when they missed out 1 counter during the CDP transfer, also no updates or apologies from them.

I've now decided to move out some assets to join SCB priority liaoz. The RM contacted me on the very 1st day. Imagined back when I join DBST, the RM only contacted me 1 week later, and after I myself contacted her 1st to arrange for the onboarding meeting.....
I read your post just after I applied for the TPC. I was hoping my experience would be more pleasant but it ended up being similar. I am now looking for the TPC BD manager contact but I feel bad because the current RM did work to get my KYC approved by their compliance. Like you, I am also facing the lack of updates/apologies and I find it unacceptable.

I thought of transferring out to SCB but I believe their online platform cannot match that of DBS iWealth..
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Old 14-10-2018, 01:20 PM   #57
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Do you have the DBS Treasures Private Client Visa Debit Card and the DBS Treasures Asia membership? Did you have to apply for it proactively or did your RM handle everything for you automatically? My RM seems to be quite lacking and messed up a few things already. She didn't even mention about the above 2 items. Were you offered the Insignia card?
If even DBS TPC tier is such bo chap attitude from their RM, no wonder my economical-class tier is as such.... I have long ago asked my RM to sign up for me the DBS Travel Privileges ( to be honest, perks not exactly attractive for the requirements needed ), but up til now, no news and not done yet I think....

I've already given up on DBS for their PB, and decided to split up my assets to other banks liaoz. Honestly, I think they got fed with so much $$$ that they think they can bo chap liaoz.....

PS, ur debit card might need to self-service at any of their DBS Treasures lounge.

I think the Insignia card is by invitation only, and not only aum, will require at least 500k per year income too.
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Old 14-10-2018, 04:22 PM   #58
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Good on you.
DBS got too much money flowing to them .. that's why service might not be a strong part of them unless you are a businessman or someone the RM personally like to know or work with

If you are retiree like me, there is no incentive for them to build a relationship with you.

But the strong part of DBS treasures pte client would be the integrated wealth mgmt platform. It is as strong as the UBS or Credit suisse with added bonus of online trading, minus all the fees.

Sounds like you are in a similar position as I am. Wondering whether to, and if so, when, to plough all the present cash (as well as anticipated incoming en bloc cash) into the equity markets. I think that parking the cash into short term (1 or 2 years) SGS (and having a credit facility against that) is a good stop gap measure. If there is a very significant correction, then use the credit facility. When the SGS is mature, use those funds to pay down the credit facility.

The alternative is to DCA monthly into equities over a 12 month period. I would usually think this is a good idea but I have a feeling we are much closer to the end of the bull market than most people think.
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Old 14-10-2018, 08:11 PM   #59
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Sounds like you are in a similar position as I am. Wondering whether to, and if so, when, to plough all the present cash (as well as anticipated incoming en bloc cash) into the equity markets. I think that parking the cash into short term (1 or 2 years) SGS (and having a credit facility against that) is a good stop gap measure. If there is a very significant correction, then use the credit facility. When the SGS is mature, use those funds to pay down the credit facility.

The alternative is to DCA monthly into equities over a 12 month period. I would usually think this is a good idea but I have a feeling we are much closer to the end of the bull market than most people think.
My plan is to buy 3M of t-bills in 2 weeks. They are only 12-month. If the stock market hits my buy trigger, I will use these t-bills as collateral to buy shares. Excited about this play.
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Old 23-10-2018, 08:21 PM   #60
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Can start to buy stocks this week. Watch for STI to break 3K. Hit the banks, all 3 of them. Small bites, all the way down and then up. Make your 3M last. Forget the t-bills. Good dividend stocks are going to get better.
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