Private banking is a variety of wealth management.

What is private banking? And what is private wealth management?

Wealth planning: Designing a plan and creating protective structures to help preserve assets and ultimately pass them on to the clients’ beneficiaries.

Lending: Enabling clients to borrow against assets such as their investment portfolios and real estate.

Cash management: Offering deposits and other facilities for clients to seek a yield on their cash.

Investing: Helping clients create a long-term investment plan and then offering specific investments to put that plan into action.

That said, wealth managers typically offer a mix of some or all of the below: Two wealth managers can offer different sets of services to equally diverse sets of clients. However, the ways they do this can vary a lot.

Wealth managers exist to help clients seek to preserve and grow their wealth. Rather than try to do this alone, many individuals and their families choose to partner with specialist financial institutions, including private banks and other wealth management professionals.īut what exactly do private banking and wealth management organizations do and who do they serve? Such as how to maintain, build and pass that wealth on to future generations. Generating wealth can take a lifetime of hard work.Īnd having devoted so much time and passion to creating that wealth, new challenges arise. Do I need a private bank or another kind of wealth manager?

What is citi bank a global or us bank