Consolidated thread for Priority/Privilege Banking

[brfish]

SC loh. SC one is called raffles nominees

Only DBS & SC? Other local banks such as OCBC & UOB do not entertain such ideas?

 

[ckchan526]

If you are with DBS Treasures then you have AUM of more than $350K with them, maybe your RM knows all your funds are "locked" and cannor be used for new investment?

Why not buy some perpetual capital securities that pay 4-5%pa?

Hi, Happy CNY. Can share which perpetual capital securities that pay 4-5%pa? Planning to join UOB PB. Thanks.

 

[icicic]

Hi, Happy CNY. Can share which perpetual capital securities that pay 4-5%pa? Planning to join UOB PB. Thanks.

Hi bros i registered just to post this. Bit of background here, i work in fixed income advisory. This doesnt mean that i can predict the market, else dont need to work liao haha. But hopefully lends a bit more weight to what im about to say.

Generally perpetual capital securities tend to be subordinated - meaning if anything go wrong u are last in line - probably lump together with shareholders. Of course different securities will give different protections. Mostly i hear custy saying the company wont go bankrupt one so no problem.

Here's where is important to remember the are 2 risks at least in such a security

#1 credit risk. As above,if co is ok then no problem lah.
#2 market risk. Most of these securities pay fixed coupon. As some bro have pointed out, if interest rate go up then siao liao. Consider especially if you leverage and value goes to 80. Sure kena top up call. Recently i do see some perpetual with structure meant to lower this risk, hyflux w step up plus reset every 3 year is a good example.

Bottom line is just keep an eye out for what you buy
And no I'm not pitching for business either - am not an RM.

Last point to consider is that there are also dividend stocks paying that kind of coupon plus have equity upside. Sure, stocks are not capital return products but then again if the perpetual never gets called is it really so different?

 

[jammer_sg]

Didn't deposit fresh funds. Have existing property loans (about 500K). Took out Universal Life type of product from Tokio Marine with loan for part of the premium (this works out to be a better deal than taking term insurance or mortgage insurance at my age as the interest rate is low - of course may increase at a later stage but can repay the loan at any time).

I would join PB for the leveraging opportunities. Not at all interested in the Fixed Deposit so don't know the rates.

Just met my Treasures RM recently to get into the business end of things for the first time after coming on board. Learned about the different products and "leverages" that distinguishes the different tiers of private banking.

Think I might be able to clarify some questions some guys including myself had on your quote. DBS Asia Treasures Private Client really has to be worth at least $1.5M. They take into account property mortgages one holds with them (less the loan amount). Universal Life insurance is not the typical retail insurance the average Joes on the street subscribe to. Not to mention the tasty benefit and additional leverage opportunities it comes with.

So it is just a matter of the truth but now much of the truth was said. Dear purpletoysmum, very naughty of you for trying to misinform us huh ha ha ha... You are no typical small fish in this tiny forum. Hope in future you can teach all the other brothers here a thing or two to HUAT together. Cheers.

 

[neanea]

Hi can you explain what is Universal Life insurance ?

Just met my Treasures RM recently to get into the business end of things for the first time after coming on board. Learned about the different products and "leverages" that distinguishes the different tiers of private banking.

Think I might be able to clarify some questions some guys including myself had on your quote. DBS Asia Treasures Private Client really has to be worth at least $1.5M. They take into account property mortgages one holds with them (less the loan amount). Universal Life insurance is not the typical retail insurance the average Joes on the street subscribe to. Not to mention the tasty benefit and additional leverage opportunities it comes with.

So it is just a matter of the truth but now much of the truth was said. Dear purpletoysmum, very naughty of you for trying to misinform us huh ha ha ha... You are no typical small fish in this tiny forum. Hope in future you can teach all the other brothers here a thing or two to HUAT together. Cheers.

 

[purpletoysmum]

So it is just a matter of the truth but now much of the truth was said. Dear purpletoysmum, very naughty of you for trying to misinform us huh ha ha ha... You are no typical small fish in this tiny forum. Hope in future you can teach all the other brothers here a thing or two to HUAT together. Cheers.

Hello I am very sorry. Not trying to misinform our bros/sis. I got in under the "accredited investor" route. Which takes into account net assets and income, not purely AUM.

 

[lalaisgongon]

Hello I am very sorry. Not trying to misinform our bros/sis. I got in under the "accredited investor" route. Which takes into account net assets and income, not purely AUM.

can i check with you how does this work? means you sign as accredited investors and they sign you up with Dbs TPC?

 

[purpletoysmum]

can i check with you how does this work? means you sign as accredited investors and they sign you up with Dbs TPC?

Check with an RM regarding this if you fulfill the criteria for "accredited investor". The bank looks at your whole financial situation I believe and this route is not as straightforward as the 1.5 mill AUM. Do note that you will not have much recourse to sue the bank for mis-selling of products if you choose this route as you will be deemed to have the ability to judge for yourself if they sell you high risk financial products.

 

[mekanoid]

RE: the ANZ Signature Priority VISA Infinite Card you have meet the $150K minimum and then apply for it.. they take $26K as fixed deposit collateral released when the card is cancelled.

 

[jammer_sg]

Hello I am very sorry. Not trying to misinform our bros/sis. I got in under the "accredited investor" route. Which takes into account net assets and income, not purely AUM.

No worries purpletoysmum, I can understand. After the session with my RM and coming back to this forum, things you mentioned finally clicked like light bulbs lighting up over my head. An engineer by training, I have been enlightened and amazed.

When one is poor, no one will lend even a dollar to you. On the contrary while one is well to do, so many are queuing to offer money (even when you don't really need it) to try help make you even richer. Amazing power of leverage indeed. But of course it is a double edge sword and one must be absolutely clear about what he/she is in for.

 

[wondrdoggie]

Hi all, stumbled across this interesting thread! I am keen to know experiences across different PBs. From my exp, your RM makes or breaks your experience with the bank. However, it's not so easy to change RMs. Other than your RM, your loan rates across various currencies will also open up or limit your investment opportunities. Last, your transaction rates are also important. These 3 criteria are frankly what matters most. Across the banks, they all can give house views and have assess to the usual range of products. Other than PE funds which may be exclusive to a bank.

Is the DBS private client any good? How about credit Suisse? I have exp with uob, jpm and ubs, so ask if you have questions.

 

[taediumv]

RE: the ANZ Signature Priority VISA Infinite Card you have meet the $150K minimum and then apply for it.. they take $26K as fixed deposit collateral released when the card is cancelled.

As on they Forfeit the $26kout of $150k if you cancel the card?

 

[wondrdoggie]

FYI, the UOB Infinite card, annual fee can be totally waived, just have to call to ask. But they will ask you if you want to keep the Priority Pass card (for airline lounge access). If yes, need to pay about $100.

In my opinion, the Amex Plat card gives better service but that card, the annual fee cannot be waived. It's currently $1800 per year but they will give free travel credits or points to cover some of that cost. Their 1 for 1 business class fare or hotel stays can make the card worthwhile if you were planning to fly biz or stay in those hotels anyway.

 

[wondrdoggie]

can i check with you how does this work? means you sign as accredited investors and they sign you up with Dbs TPC?

I think it's the other way round. You join a PB or similar and then you fill up some forms to be an accredited investor. You can check MAS for a definition of the term and also criteria. I remember it's a mix of either investable assets, income, level of education and investment experience.

 

[slurpy0099]

Where u see 1 for 1 biz class for Amex Plat card?

Credit Card Comparison - Best Credit Cards | American Express SG

 

[Inix]

Where u see 1 for 1 biz class for Amex Plat card?

Credit Card Comparison - Best Credit Cards | American Express SG

Amex used to have it for selected Airlines. No longer do

 

[lalaisgongon]

Hi all, stumbled across this interesting thread! I am keen to know experiences across different PBs. From my exp, your RM makes or breaks your experience with the bank. However, it's not so easy to change RMs. Other than your RM, your loan rates across various currencies will also open up or limit your investment opportunities. Last, your transaction rates are also important. These 3 criteria are frankly what matters most. Across the banks, they all can give house views and have assess to the usual range of products. Other than PE funds which may be exclusive to a bank.

Is the DBS private client any good? How about credit Suisse? I have exp with uob, jpm and ubs, so ask if you have questions.

Hi can you share your experience with JPM and ubs?

how are they different and what do they offer?

i am aware that UBS only offers wealth management and no banking services

Which rates are the best?
who has the most benefits?

 

[lalaisgongon]

FYI, the UOB Infinite card, annual fee can be totally waived, just have to call to ask. But they will ask you if you want to keep the Priority Pass card (for airline lounge access). If yes, need to pay about $100.

In my opinion, the Amex Plat card gives better service but that card, the annual fee cannot be waived. It's currently $1800 per year but they will give free travel credits or points to cover some of that cost. Their 1 for 1 business class fare or hotel stays can make the card worthwhile if you were planning to fly biz or stay in those hotels anyway.

Theres another card that is in the same playing field.

The DBS insignia infinite card
any information on this?

 

[lalaisgongon]

Amex used to have it for selected Airlines. No longer do

they still have it
Platinum Card® Member Benefits

and you can consider getting the ICC version
American Express Dollar and Euro Charge Cards

 

[lalaisgongon]

As on they Forfeit the $26kout of $150k if you cancel the card?

Think what he mean is that you put cash 150k in.
26 k is used to secure the card
the rest of the 124k you can use to do your investment
but when you cancel the card, the 26k is no longer locked in to secure the card