Friday, April 28th 2017

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What is private banking?

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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/

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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.

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4th Dec 2009 In Banking 2 Answers | 1025 Views
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