Private Banking (PB) is a form of wealth management service offered to ultra-high net worth individuals ($5mm and upwards). The services offered by a private bank will include:

  • Portfolio investment ideas
  • Wealth protection through asset investment such as gold
  • Tax avoidance advice
  • General financial planning including charitable donations, inheritance, retirement etc

There are some specific private banking firms, and most investment banks have a private banking service they can offer to their clients. Private Banking is considered to be a front-office role and people working in PB need to have extremely good interpersonal and client skills above all else, as relationships count more than almost anything else.

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