Thursday, June 29th 2017

Question

What is private banking?

Interesting Question?   (3)   (9)



Answers (2)

11th Dec 2012 by Katie Simone - United States Specific

Private banking is mainly made for wealthy persons. In United States some banks provide this facility, even these banks keeps secrecy of their clients. Opening a private account is not a criminal act, as many people think that it is not legal.
Private Banking - http://www.gtoptions.com/

Like This Answer?   (0)   (0)
This answer is the subjective opinion of the writer and not of FinancialAdvisory.com
9th Dec 2009 by JonB

Private banking refers to the exclusive offering of specialized financial services for high net worth individuals. The umbrella term for these services is "wealth management". Private bankers have far fewer customers than retail bankers. This allows them to be extremely familiar with each ones complex financial situation. Services include investment consultations, tax planning, estate planning and other specialized assistance. For example, a private bank may offer advice and analysis on hedge funds or other investment opportunities that are restricted to high net worth individuals. Since these investors have many investments in a variety of ventures, a large part of private banking involves tax planning and preparation. Simply figuring out the tax liability for each investment can be very difficult and time consuming.

Like This Answer?   (0)   (0)
This answer is the subjective opinion of the writer and not of FinancialAdvisory.com



4th Dec 2009 In Banking 2 Answers | 1090 Views
Subjects: private banking,

Answer This Question / Give Your Opinion
What is private banking?


Answer: *

What country is this answer relevent to? *
Your Name: *

Enter Verification Number: *


Give Your Opinion
What is a mutual fund account?
Share a simple answer to help inform others:
Specific to any country?
First name / Alias

• Your answer will be posted here:
What is a mutual fund account?
Unanswered Questions in Banking
Which are the major banks in Norway?
Who provides Shariah law approved home loan?
What do you need to open up a bank account in Ecuador?
What do you need to open up a bank account in Bermuda?
What is telegraphic remittance?

Answered Questions in Banking
What is an eft payment?
What are business deposit slips?
What Foreign currency call accounts?
What do you need to open up a bank account in Saudi Arabia?
What are cash management services?
Ask A Question
Get opinions on what you want to know:
Specific to any country?