DBS Treasures benefit?

[sarhh79]

Not mistreat me la. What I meant is the way they charge their clients for custody fees and their high transaction fees etc…This kind short term can milk everyone and improve their books but long term ppl will run away.
For me, very simple. Just focus on making $$. Someone will come disrupt the ecosystem. Remember how much our local telco charge us high price for mobile and pay tv? In the end other telco and Netflix/ Disney disrupted them. Prior to this, those apple distributors also do a lot of stunts to sell apple products. In the end, apple came to setup stores. Similarly to how Facebook destroyed SPH and how Amazon/ Lazada/ Shoppee disrupted retailers. Lol! Matter of time someone will come in and offer better and more value services.

i completely agree with u. skpuppy is not the only one who shares the same sentiment. DBS is the worst out of all the banks when it comes to privilege banking (DBS treasures equivalent).

my citigold i tell my RM i can only put $15k in there and they allow because they know my money is on other brokerage platform. they dun pressure or threaten to close the account. $15k and i'm still on citigold k... dbs as long as u dun have $250k they will start charging u a lot of funny things. this is the difference in their business acumen and attitude towards customers.

i will always support my citigold RM, but never the DBS ones and i already closed my account there. i request for waiver in dbs treasures and they will say "but sir, need to have give and take".. so they will lowball u and paggro u into giving them more transactions.. this is ur private uni level bankers lors...

 

[reddevil0728]

it is only worth joining them if you are at least treasure private client level. the normal treasures level for $250k above is not worth it. the research on their platform is not good. by the time they have a piece of research out, the markets have already moved and you won't gain a lot. and the research is not even that fantastic in the first place.

not to mention their better RMs are in the treasures private client level, and sorry to say, the normal treasures are the 'leftovers' other banks don't want, private uni grads who are not very smart, or the bankers who used to be from consumer banking who built their careers selling products to old people and retirees who don't need it. they still think this is the way to go and the younger generation are all smarter than them.

don't bother with normal dbs treasures. they will just suck ur money and all my friends kanna... wait till u are private client level. if u can't reach private client level in the first place, being in normal treasures won't benefit u much anyway..

One should ask oneself what they want to get out of becoming "priority/premium/privilege" banking customer?

Is it for some perk? or is it because one doesn't want to DIY, and willing to pay someone to do it for oneself.

If it is the former, then yes shouldn't bother, not even for Private Client or Private Banking.

If it is for the latter, then it makes sense.

 

[sarhh79]

One should ask oneself what they want to get out of becoming "priority/premium/privilege" banking customer?

Is it for some perk? or is it because one doesn't want to DIY, and willing to pay someone to do it for oneself.

If it is the former, then yes shouldn't bother, not even for Private Client or Private Banking.

If it is for the latter, then it makes sense.

Agree with you. dun let ur ego get in the way just because it's a higher tier. must make sense for u at the end of the day. banks are not adapting fast enough to consumer needs and how easy it is to get good quality research from the internet..

 

[reddevil0728]

Agree with you. dun let ur ego get in the way just because it's a higher tier. must make sense for u at the end of the day. banks are not adapting fast enough to consumer needs and how easy it is to get good quality research from the internet..

those HNWI, VHNWI or UHNWI who may have earned their wealth through non investment means may not bother about DIY-ing investments because their time is worth more than cost savings on self investing and they want to pay people in such banks to do it for them.

I don't think they are in for the perk also.

so it really depends on what you want to get out of it.

There will always be good and bad apples in every org.

 

[skpuppy]

those HNWI, VHNWI or UHNWI who may have earned their wealth through non investment means may not bother about DIY-ing investments because their time is worth more than cost savings on self investing and they want to pay people in such banks to do it for them.

I don't think they are in for the perk also.

so it really depends on what you want to get out of it.

There will always be good and bad apples in every org.

For those who rely on banks to invest for you, it is no difference from closing your eyes and ask someone to lead you across the road. All these rm are like property salesperson. They don’t care whether you make or lose. Either way they earn.
Those tio subprime crisis are those who didn’t do much research and let banks recommend them anything. If you buy any unit trust or other instruments recommended by banks, you are better of anyhow hatam any etf.
Many of the super rich ppl like Jeff Bezos, Warren Buffet and Bill Gates invest their own money. Singapore rich too busy to DIY? Lol!

 

[arowana9]

For those who rely on banks to invest for you, it is no difference from closing your eyes and ask someone to lead you across the road. All these rm are like property salesperson. They don’t care whether you make or lose. Either way they earn.
Those tio subprime crisis are those who didn’t do much research and let banks recommend them anything. If you buy any unit trust or other instruments recommended by banks, you are better of anyhow hatam any etf.
Many of the super rich ppl like Jeff Bezos, Warren Buffet and Bill Gates invest their own money. Singapore rich too busy to DIY? Lol!

Most billionaires mostly become billionaires because of profits from managing businesses, not from investment, so it is normal for them to invest with help of others. Even GLC use fund mangers to help them invest some money.
In theory they can also DIY by just dumping everything into index funds, but probably they think return too low?

 

[reddevil0728]

For those who rely on banks to invest for you, it is no difference from closing your eyes and ask someone to lead you across the road. All these rm are like property salesperson. They don’t care whether you make or lose. Either way they earn.
Those tio subprime crisis are those who didn’t do much research and let banks recommend them anything. If you buy any unit trust or other instruments recommended by banks, you are better of anyhow hatam any etf.
Many of the super rich ppl like Jeff Bezos, Warren Buffet and Bill Gates invest their own money. Singapore rich too busy to DIY? Lol!

eh... maybe you should go find out how it works first before commenting?

 

[skpuppy]

eh... maybe you should go find out how it works first before commenting?

Maybe you can share? You can see the performance of Lion Global (OCBC) and United (UOB) vs BlackRock and Vanguard. I am not saying every fund will make you lose $$ but you will gain more if you DIY. That is just what I observed.

 

[reddevil0728]

Maybe you can share? You can see the performance of Lion Global (OCBC) and United (UOB) vs BlackRock and Vanguard. I am not saying every fund will make you lose $$ but you will gain more if you DIY. That is just what I observed.

You are assuming that they are relying on the banks to make all the decisions for them.

which isn’t the case.

 

[skpuppy]

Most billionaires mostly become billionaires because of profits from managing businesses, not from investment, so it is normal for them to invest with help of others. Even GLC use fund mangers to help them invest some money.
In theory they can also DIY by just dumping everything into index funds, but probably they think return too

I am a simple person.
(1) If Citibank, Standard chartered is better than DBS, OCBC. I will stick to standard chartered and Citibank.
(2) If bank introduced me something with high management fees, I just DIY (why go for 5% profit when you can get 10%?)
(3) Let us just take a simple custodian stock trading platform. Why DBS is more expensive than Standard Chartered? Why Standard Chartered no custodian fees and DBS have?
(4) Lastly, you just see news that DBS bank cock up their credit card/ debit card charging system. I would say most of the clients are not aware. Why? Most won’t check their credit card transactions (I don’t even bother to open up my monthly statement because I feel bank impossible to make mistake one). Lol! But some spotted this error. This is an example of if you 100% put your trust in financial institutions, then don’t kpkb when things goes wrong. Subprime, Hyflux investment wants government to come in to help…

 

[koster]

I am a simple person.
(1) If Citibank, Standard chartered is better than DBS, OCBC. I will stick to standard chartered and Citibank.
(2) If bank introduced me something with high management fees, I just DIY (why go for 5% profit when you can get 10%?)
(3) Let us just take a simple custodian stock trading platform. Why DBS is more expensive than Standard Chartered? Why Standard Chartered no custodian fees and DBS have?
(4) Lastly, you just see news that DBS bank cock up their credit card/ debit card charging system. I would say most of the clients are not aware. Why? Most won’t check their credit card transactions (I don’t even bother to open up my monthly statement because I feel bank impossible to make mistake one). Lol! But some spotted this error. This is an example of if you 100% put your trust in financial institutions, then don’t kpkb when things goes wrong. Subprime, Hyflux investment wants government to come in to help…

Agree. The banks do not value customer loyalty. When switching funds around, the banks will dangle some carrots to new customers.

 

[reddevil0728]

I am a simple person.
(1) If Citibank, Standard chartered is better than DBS, OCBC. I will stick to standard chartered and Citibank.
(2) If bank introduced me something with high management fees, I just DIY (why go for 5% profit when you can get 10%?)
(3) Let us just take a simple custodian stock trading platform. Why DBS is more expensive than Standard Chartered? Why Standard Chartered no custodian fees and DBS have?
(4) Lastly, you just see news that DBS bank cock up their credit card/ debit card charging system. I would say most of the clients are not aware. Why? Most won’t check their credit card transactions (I don’t even bother to open up my monthly statement because I feel bank impossible to make mistake one). Lol! But some spotted this error. This is an example of if you 100% put your trust in financial institutions, then don’t kpkb when things goes wrong. Subprime, Hyflux investment wants government to come in to help…

1) Definitely. A simple person doesn't have monopoly over choosing something better. Any logical person will choose something better over something worse. But which is better which is worse, I guess as long as the person make money with the bank, and is happy with the support, the products, and the fees, it's a very personal decision.

2) Typically the higher your tier is, the cheaper the management fees (Economies of scale)

3) People in the real high tier don't just buy stocks. In fact it might be a very small portion of the portfolio but they continue to use it despite the higher fee because they prefer a one-stop shop solution, and the higher fees in this area will be offset by lower fees in other areas.

4) That's why real rich people wouldn't just stick with 1 bank. And real rich people will have more complex structure. And no, DBS doesn't has monopoly over the ability to cock up. Any banks can cock up.

That said, I am not defending DBS. I am just saying people need to know why they are joining such privilege/premium banking for a reason and is not just for "perks"

 

[skpuppy]

Awesome explanation! Nice to hear that. Haha! A chunk of my money is in DBS shares. The more they milk others, better for me. Wooooooooo……………..

 

[arctician]

joined purely because of welcome reward, last time DBST offer 6k+ as welcome offer. Their trading comm is 0.12% currently and portfolio count towards AUM, best thing is investment stack with multiplier account so first 100K can get 2.5% iR and can use it to arbitrage mortgage loan at 1.1%

Otherwise there are no real benefits to DBS or DBST. Investment if can self serve better to DIY because the knowledge benefit u over long run, try not to overrely on RM.

 

[reddevil0728]

joined purely because of welcome reward, last time DBST offer 6k+ as welcome offer. Their trading comm is 0.12% currently and portfolio count towards AUM, best thing is investment stack with multiplier account so first 100K can get 2.5% iR and can use it to arbitrage mortgage loan at 1.1%

Otherwise there are no real benefits to DBS or DBST. Investment if can self serve better to DIY because the knowledge benefit u over long run, try not to overrely on RM.

There’s a “benefit” of joining all these as they offer “access” to some investment that one cannot DIY.

in any case, these are reserved for those higher end people’s so maybe for masses is of no used but that doesn’t mean to everyone it has 0 use

 

[arctician]

There’s a “benefit” of joining all these as they offer “access” to some investment that one cannot DIY.

in any case, these are reserved for those higher end people’s so maybe for masses is of no used but that doesn’t mean to everyone it has 0 use

it works for some who has zero knowledge of investments, but for those AI the access to more complicated derivatives dont offer much value. generally you get access to bond financing to increase return on equity, or buy into structured note that invest in a basket of stocks that guarantee you a coupon rate if strike price is around 90-100% of PAR (personally dont like it because you take all the risk while bank take the upside), etc, and they cant offer private placement for IPO which is the service i really want.

In the end concluded welcome offer is the most lucrative part of joining DBST or TPC.

 

[Muscle]

One of the better perks of tier banking I feel is the premium financing that is available to tiered customers. That's where I feel you can leverage your wealth.

 

[sarhh79]

what the banks and the 'uneducated' RMs who think selling products to ppl who don't need it need to understand is that the world is changing way faster than they can adapt... the RMs are not used to their customers being smarter and savvier than them...

dbst charges you custodian fees and they don't even allow lending shares so that u can earn interest off it.. why? becos they are the custodian, so if they do lend, it's from their account and THEY earn the interest while still charging you a custodian fee.. i can earn 5 to 10% a month just from lending my share and this is on top of the capital gains I already have.. platforms like interactive brokers split the interest so both them and account holder earn together if someone borrows yours shares to short the market...

the banks' way of doing things are falling behind and the quality of ppl they hire is even worse... because let's face it, the smart ones with CFAs are in high-finance, they don't become RMs...

there is no reason to use the dbst platform for trading AT ALL... and RMs can only tell u to use leverage for unit trust, or do structured notes. it has been like this for decades.. i'm not saying all RMs are bad.. but a lot of them are only there because they can't do anything else with their lives and try their luck in the industry to make a living.. sickening bunch of losers (not all, but most)...

 

[skpuppy]

There’s a “benefit” of joining all these as they offer “access” to some investment that one cannot DIY.

in any case, these are reserved for those higher end people’s so maybe for masses is of no used but that doesn’t mean to everyone it has 0 use

Bro, can you share exactly access to what investment one cannot DIY? Some of my friends invested in Baillie Gifford trust that gives them early access to unicorns in series A, B, C, D and when these unicorns IPO, they huat. Also there are spac vehicle for you to invest also. So you are saying DBS treasures allow those high network investors ($10mil and above) to invest in those unicorns like space X etc in early stage? Or any new crypto prior to their listing in Binance etc? Or they are just bundling any high risk instruments to sell to ppl? Instruments that are so difficult to understand even Buffett, Dalio and Burry don’t understand? So need to let these high network ppl take all the risk? Usually if you see a billionaire lose $100-200mil, they won’t kpkb in front of national tv. So I presume that is the kind of risk assessment? So far what I have seen is they cannot even do overseas IPO properly. Or I would say no one even bother to invite our local banks to participate?

 

[arowana9]

I am a simple person.
(1) If Citibank, Standard chartered is better than DBS, OCBC. I will stick to standard chartered and Citibank.
(2) If bank introduced me something with high management fees, I just DIY (why go for 5% profit when you can get 10%?)
(3) Let us just take a simple custodian stock trading platform. Why DBS is more expensive than Standard Chartered? Why Standard Chartered no custodian fees and DBS have?
(4) Lastly, you just see news that DBS bank cock up their credit card/ debit card charging system. I would say most of the clients are not aware. Why? Most won’t check their credit card transactions (I don’t even bother to open up my monthly statement because I feel bank impossible to make mistake one). Lol! But some spotted this error. This is an example of if you 100% put your trust in financial institutions, then don’t kpkb when things goes wrong. Subprime, Hyflux investment wants government to come in to help…

I suppose it is up to individuals.
Example they buy etfs & willingly pay management fees of 0.2% p.a. or more when they could save more by DIY in stocks & saved a lot more over long term.

Also for big investors they can buy bonds at $200k per lot only through Banks' RMs.

But yes, definitely DBST is short-changing their clients with its custodian fees & high charges compared to other banks like SCB, HSBC etc without custodian fees.