Will they walk your poodle?

Article Abstract:

Private banks can offer a range of services and can put clients in tough with external contacts for specialist services such as learning business etiquette. Some private banking services are packaged, such as the Residential Care Scheme offered by Kleinwort Benson Private Bank. Banks may also offer travel services and aid to children of wealthy clients. Private banks may supply contacts for real estate transactions. They may be able to help foreign clients buy property in the UK and arrange for management of that property.

Banking Institutions, Depository Credit Intermediation, Banking industry, Management, Banks (Finance)

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What safety nets are in place?

Article Abstract:

UK users of private client services are protected by the Deposit Protection Scheme when they use UK incorporated banks. The Financial Services Act includes private client portfolios. Professional indemnity insurance should be held by stockbrokers. Representative Professional Bodies (RPBs) regulate law firms and accountants. One such body is the Institute of Chartered Accountants. Private clients should carry out checks, since compensation schemes are not always adequate.

Commercial Banks, Investment Banking and Securities Dealing, Portfolio & Funds Management, United Kingdom, Laws, regulations and rules, Financial services industry, Financial services, Portfolio management

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Commercial realism sets in as old wealth erodes

Article Abstract:

The private banking sector has traditionally not become involved in marketing, having until recently relied on networking to gain clients. However, the newly wealthy, such as businessmen, cannot be attracted in this way, and proactive marketing is now necessary. Few private banks have a specific marketing department using modern marketing techniques, but others still relying on networking have started to change the focus to target the newly wealthy.

Marketing

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