Interview with Carey Wealth Reporting in Zurich

“Wealth Reporting – hugely important for wealthy clients, but rarely done well“

We had the opportunity to sit down with Patrick Bos and Kevin Halouska of Carey Wealth Reporting A.G. in Zurich. We talked about a broad range of issues related to wealth reporting since this is one of the topics that surfaces time and again, particularly when clients lose money or miss opportunities as a result of inefficient or incomplete (consolidated) reporting. Unfortunately consolidated reporting is still very often unclear and arcane.... more

2011 Mobile Applications Report

Global Banks Offer Surprisingly Few Good Mobile Apps

The mobile applications of Deutsche Bank and the French bank Caisse d'Epargne come out as winners in a benchmarking of a total of almost 200 mobile apps, offered by the world´s top 50 banks. Scoring 40 points out of 60 with just a single app, Bank of China is the winner in the category of best standalone banking app. Surprisingly, only one US-based bank has made it into the Top10 of... more

Analysis by Steffen Binder, Research Director

How Social Media Will Shape the Competitiveness of Banks

In his seminal work, ‘Competitive Strategy’, the world-renowned Prof. Michael Porter has identified five major forces that shape competition and success for the players in every industry. If you look at social media through the perspective of these five forces, the consequences they unleash for the competitive dynamic in the banking sector become very clear.... more

New MyPrivateBanking Research Report

Majority of Private Banking Websites Not User-friendly, Lacking Relevant Content

The 2011 report on private banking websites by MyPrivatebanking Research finds that compared to the 2009 survey the overall quality of the websites has not improved: less than half of the banks have mastered the basic requirements for a private banking website and... more

How Wealth Managers Can Win Clients Online

Interview with Trevor Pavitt, Passive Investing

"Your banker has no more capability of predicting the future than you do"

Trevor Pavitt and Alex Arnbäck are co-founders of Passive Investing, a Geneva-based wealth adviser specializing in passive investment strategies. They have just published their new book "Heal Your Investments". In this interview ex-Private Banker Trevor Pavitt speaks about what motivated him and co-author Arnbäck to write a book that challenges the philosophies and strategies of the existing wealth management industry... more

What Our Members' Discussed this Summer

"Do not panic! Once all the media are full of doomsday scenarios it‘s usually a good time to invest."

Over the course of the summer our group discussions were, not surprisingly, dominated by questions on how to deal with the crisis in the financial markets and, in particular, on how to protect assets from a possible melt-down in asset prices and currencies. ... more

UK Wealth Analyst Francis Groves on the UK Ban for Kickbacks

A Hesitant Revolution In Paying For Financial Advice

The UK’s Retail Distribution Review (RDR) has been a long time arriving. Zero hour for the end of commission-based advice to private individuals is roughly 15 months away; midnight on 31st December 2012, to be precise. RDR could usher in a golden age of advising investors without the baleful effects of investment fund kickbacks to advisers. However, in truth, the outlook is not as sunny as that.... more

Dealing with Fear and Panic in the Markets

Don´t Let Today’s Volatility Enrich Your Private Banker

Since 2008 markets have seen a lot of up and down movements. In our report "Insufficient Client Focus – A Survey of European Private Banks’" we showed already in 2009 just how pro-cyclical and short-termist the advice of many (but not all) private banks was at the time. Today, we have a similar situation: bankers advise their clients to switch their assets into safe havens such as gold, Swiss Francs or Asian currencies and cash. But only a few months ago... more

MyPrivateBanking in the Media

“Wealth Managers’ Big Dirty Secret”

Recent research published by MyPrivateBanking received extensive media coverage from the world’s leading business newspapers such as Wall Street Journal, Financial Times and Frankfurter Allgemeine Zeitung. The Wall Street Journal’s Article “Financial Advisers´Little Secrets: Their Past Results” reported... more

MyPrivateBanking Research Brief

Private Banking Clients Should Avoid Internet IPOs

Private investors should be skeptical about investing in the new wave of initial public offerings (IPOs) for internet companies’ stocks. This is the main conclusion of new research by MyPrivateBanking, for which we compared the main players, mechanisms and results of the late 1990s/early 2000s dot-com bubble with the newly developing wave of Internet IPOs... more

Why Private Banking Clients Should Avoid Internet IPOs

MyPrivateBanking Research Flash

Wealth Managers Shun Transparency

New research findings by MyPrivateBanking Research reveal that only 10% of the world’s most important wealth managers publish performance data for their discretionary accounts and only 22% offer specific information about their fees.... more

How Wealth Managers Can Win Clients Online

Initiating a Discussion on the Future of Wealth Management

Charter for Ethical Wealth Management

Over the last two years MyPrivateBanking.com has evolved into a platform to educate and connect wealth management clients, promote their rights and interests and highlight the responsibilities of wealth managers and private banks. To capture the essence of these ... more

Interview with Gunnar Grape, Reporting Specialist

"Problems arise especially where a solution is unable to reproduce the full range of asset classes"

Gunnar Grape is the managing director of iComps GmbH, which offers various services to support wealth managers in the administration of their client portfolios and providing clients’ investment reports. We discussed with him the current state of client reporting and what a good investment report from a wealth manager should look like... more

MyPrivateBanking Survey

Wealth Managers Slow to Adopt Mobile Apps

New research by MyPrivateBanking Research finds that only half of the world’s 30 most important banks and wealth managers offer mobile applications for their clients. Even worse, only three providers (10%) go beyond applications related to online banking.... more

What Our Members' Discussions Have Covered (May 2011)

“A banker MUST make money out of clients no matter what he thinks is best for them”

Last month our group members shared their thoughts and experiences on various topics. What follows are a few highlights of these discussions, such as inside knowledge on a banker’s conflicts of interest... more

Analysis by Francis Groves, MyPrivateBanking's ETF-Specialist

Are ETFs Becoming a Danger to the Financial System?

ETFs are becoming increasingly popular with private investors, at the same time ETF structures are growing more complex. Could ETF popularity in combination with complexity nurture hidden risks to the financial... more

New Research by MyPrivateBanking

Promises of Restitution of Dictators´Assets are Empty Phrases

The recent events in North Africa and the Middle East show once again that every time a dictator falls from power, governments, politicians and banks across the world announce that his, his family’s and follower’s assets in foreign countries will be frozen and later returned to the new, legitimate government. But the fact of the matter is that these announcements have only been paying lip service to the public.... more

New MyPrivateBanking Report

Most Banks and Wealth Managers Ignore Facebook, Twitter & Co.

60% of surveyed Wealth Managers have either no activity or are only sporadically active on social networks – Deutsche Bank, Crédit Agricole and BNP have the best social media presences.... more

Comment by Steffen Binder, Research Director MyPrivateBanking

Close Loopholes for Hiding Dirty Money

The EU, the Swiss government and the US have taken measures to freeze the assets of Messrs. Ben Ali, Mubarak, Gaddafi and their respective friends and families. But can this be enough? It often takes years, even decades until a court decides what should happen to frozen assets...... more

No Future for Offshore Banking

Interview with Financial Author Francis Groves

"A lot of attention given to ETFs is overly simplistic or technical"

Francis Groves is the author of the recently published book Exchange Traded Funds: A Concise Guide to ETFs. In this interview the ETF expert explains how to build a sensible portfolio from ETFs, the typical mistakes private investors make with ETFs, what they can do and simple steps to contain the biggest risks. ... more

ETFs - Get the Most Out of Them Without Taking All the Risks

MyPrivate Banking Research Brief

Some 225 bn Dollars of Illegal Money from the Middle East and Africa Stashed in Offshore Accounts

According to a recent MyPrivateBanking report wealthy individuals from the Middle East and Africa hold about USD 1.5 trillion in foreign bank accounts (offshore). We estimate that at least 15% of these assets have been obtained through illegal means and transferred out of the home... more

What the Arab Revolution means for Wealth Managers

Member Feedback: GPS 1

"All of the potential advisors were literally shocked to have someone actually interview them"

Our member, GPS1, were so kind to give us detailed feedback on his selection process for a new financial advisor based on our research. What follows is his own account of how he found the right advisor... more

Interview with Dr. Christian Gast, Head of iShares Switzerland

"ETFs don't pay kickbacks"

Dr. Christian Gast is the head of iShares Switzerland. We have talked with him about the future of ETFs, the adequacy of index investing for private banking clients and the challenges of the kickback-based fee system that most active funds still use to get access to... more

How to Profit from Inflation; the Bubble 2.0 and from Hands-on Financial Advisor

Plus: Why true diversification matters; Mubarak’s money most likely goes to UAE; The Oppenheimers – South Africa’s royal business family; What the bible says on taxing the rich... more

Another Lost Decade for Stocks? Hedge Fund Herding? Venture Capital Declining?

Plus: Greece’s sacred cows; In divorce: when $6 mio. per year is not enough; Hong Kong’s feuding families; Wealth tax in Korea... more

MyPrivateBanking Member Portrait: Gus49

"Force your adviser to diversify your assets and always have real estate in your portfolio"

In our series of portraits of MyPrivatebanking Members we interviewed Gus_49, a real estate broker living in Paris, on his investment experiences and portfolio management.... more

The Most Ridiculous Asset Class, Banks’ Lack of Capital, Wealth Management’s Lack of Pros

Plus: Facebook flop for Goldman clients, What kind of societies create wealth; Ben Ali’s hated in-laws looted Tunisia, Protecting your mail from identity thieves…... more

Interview with Karl M. Schmidt, CEO qurin bank

"I am the boss of the bank least loved by other bank"

Karl Matthäus Schmidt is the CEO of the first fee-only private bank in Germany which offers clients wealth advice without conflict of interest. We talked with him about the acceptance of this new advisory model among clients and what has to be done to make the wealth management market more transparent... more

Risks of Being Risk Averse, Art is Business for Banks, Facebook Eventually Marginalized

Plus: pre-nups make rich disclose wealth; when does marriage make economic sense, new luxury car for Mariah Carey...... more

MyPrivateBanking Member Portrait: Geneva4

"My adviser should place more importance on my long-term interests than his bonus"

We interviewed MyPrivatebanking Member Geneva4 on his portfolio management and investment philosophy. Geneva4 is in his late 50s, a Swiss national ... more

Don’t Trust the Experts, Bankers Look in Cristal Balls & the Richest Arabs

Plus: Heiress’ fortune stolen from under nose; Luxury in China; Wealth gap on Christmas; Beckhams’ Christmas list ... more

Advice: Meeting a Potential Client

Top Ten Things a Private Banker Should Ask

Only a structured questionnaire ensures a comprehensive profile of a private banking client. Unfortunately, we have found that only a minority of wealth managers and private bankers... more

Advice: Costs of Wealth Management

Kickbacks – The Way to Pay Your Wealth Manager and Private Banker Twice

As a private banking client, you not only pay a substantial direct fee for your wealth management, but also indirectly for various hidden costs of products and... more

Collectibles: Wine as an Investment

Valuable Tips for Choosing the Right Wine

It is definitely possible to make money through investing in top wines; however, it is certainly not as easy as is often suggested. If you decide to invest in wine, which wines should you focus on? ... more

Wealth: Results of Survey on Top European Private Banks

Client Inquiry and Proposal Need Structure and Focus

Private banking Clients have rather little time for interaction with their potential private banker to make the important decision whom to trust with managing their money. Consequently private banking... more

Wealth: Results of Survey on Private Banks

The Missing Long-Term View in Asset Allocation

The investment proposal is the basis for all future decisions and in our survey we thoroughly analyzed the proposal we received from 20 wealth managers and private banks. In a good proposal the private banker should... more

New Research Report: The Future of Fee-Only Advice

Fee-Only Financial Advice Gaining Ground in Europe

In a recent research report on fee-only advice MyPrivateBanking research surveyed 300 private banking clients in Germany on their needs and preferences with regard to fee-only financial advice. ... more

Wealth: New Trend in Client Behavior

Potential Private Banking Clients Increasingly Use Social Online Networks

An important trend for wealth managers and private bankers is that private banking clients use more frequently social networks like facebook or LinkedIn and visit... more

New Equity Fund Report Released

Most Equity Funds of Wealth Managers Disappoint

The equity funds returns of the 15 biggest asset management companies and private bankers worldwide are worse than the respective benchmark indexes. This is the main conclusion drawn by a new study done by the analysts of MyPrivateBanking.com. In the process, equity funds... more

Wealth: Easier Search and Selection of Providers in 60 Countries

MyPrivateBanking Directory of Wealth Managers and Private Banks Reaches 500 Entries

On the MyPrivateBanking.com website, those interested can find the detailed profiles of more than 500 private banks and wealth managers in 60 countries. These profiles contain, besides the contact data, current information about locations, number of employees, legal form, date of establishment and the amount of the assets managed.... more

New Survey on Top European Private Banks

Insufficient Client Focus of Private Banks

MyPrivateBanking.com has just released its annual survey on the top European based private banks and wealth managers. 20 of the most important private banks in Europe were selected to assess the quality of their customer interface, their investment proposal and the total cost of... more

Latest Research Reports