Wealth Management for High Net Worth Individuals

High net worth individuals enjoy a wide array of products and services such as tax consultancy, fiduciary and trust services, private banking, and flexible lending programs.Wealth management is offered by financial institutions, brokerage firms, portfolio managers, and financial advisors. They offer specialist advice, investment management solutions, estate planning, and other services. In essence, private bankers are there to help clients to manage their money effectively.

Fiduciary Services

Financial advisors offer a range of solutions for foundations and international trusts. They administer foundations for family and charitable purposes and offer private, reserved power, accumulation and maintenance, fixed interest, and discretionary trusts. They offer advice to clients who run international companies and focus on property holding and investment. Holding companies offer asset protection and are used to reduce inheritance and income taxes. International companies are also used to hold royalties, patents, and trademarks.

Private Banking

Brokerage firms and other financial entities also offer private banking solutions to foreign citizens, expatriates, families, and high net worth individuals. Clients enjoy an array of financial products such as foreign exchange services, dual-currency deposits, accounts in different currencies, and many others. Financial managers offer concierge services, tax advisory, brokerage, and discretionary asset management. The goal is to grow and protect the client’s assets and pass wealth on to family members. Retirement planning is also offered.

Investment Management

High net worth individuals are offered a selection of solutions such as structured products and investment funds. Structured products offer higher returns than traditional investment solutions. Customers can choose from foreign exchange-linked deposits, structured notes, as well as funds, commodities, currencies, and equities. Alternative investments such as hedge funds are also offered.

High net worth individuals often invest in professionally managed funds in order to diversify their portfolios. Some funds invest in companies that focus on the exploration, production, and distribution of natural resources. Other funds invest in bonds and equities and give clients access to the international markets. Such funds focus on capital and income growth and specialize in investment-grade bonds. The main benefits for investors are choice, flexibility, and transparency. Customers work with their advisor to develop an internationally-diversified portfolio.

Other Services Offered

Investment and tax advisors offer tailored solutions such as treasury services and international tax consulting. The goal is to help clients to choose tax-efficient strategies and investment solutions and the right offshore and onshore trusts. Advisors help customers to develop estate and succession plans and effective inheritance, capital gains, and income tax strategies. Private banks also offer products such as fixed deposits and call accounts. The list of services includes banker’s acceptances, foreign exchange and treasury, standing orders, narrative statements, and others.

Wealth Management and Private Banks

Internationally recognized private banks offer wealth management services. Financial entities that focus on private banking include BNP Paribas, Merrill Lynch, Deutsche Bank, Credit Suisse, and others. Many banks require that customers have a certain minimum of investable assets. It can be as low as $50,000 and as high as $2,000,000 or high. The goal is to minimize liquidity problems. Private banks offer wealth advisory services to key clients, charities, entertainment and media professionals, and high net worth individuals and their families. Advisors work with clients to come up with long-term financial, banking, investment, and insurance solutions. They are familiar with complex regulatory environments and help clients with international and domestic estate planning. The main goals are investment tax relief and asset preservation.