Private Bank Offshore The Inside Scoop on Latin American Private Banking

Private Banking

Private Banking is an exclusive service wealth management service for the very wealthy, whose hallmarks are extremely high levels of personal attention, direct contact with a relationship manager (no waiting in line), and professional investment advice.

Many Private Banks or the private banking arms of commercial banks heavily market bank secrecy as an attraction of their service. Wealthy individuals understandably do not want their finances invaded by the prying eyes of outsiders. Often the richest people in the world maintain a policy of “stealth wealth” - wealth that is not obviously visible is much harder to steal.

Private Banking services are typically not available to the average retail banking consumer and may include high-end financial services like asset protection, wealth management, tax-minimisation and trust services, which are often required by HNWIs (High Net Worth Individuals).

Having a private bank account at a private bank in many cases entitles the HNWI to extra attention and “red carpet” treatment. This is no surprise considering that private bank commonly entertain “celebrity’ clients. Freebies may include tickets to horse races, society events and theater shows. At the lower end you might get a “custom-branded” bank biro or baseball cap. At the very top, flights in a private jet and the private bank acting as a personal concierge service.

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