MyPrivateBanking Research
The majority of Private Banks and Wealth Managers worldwide shows little regard for the protection of personal data on their public websites. MyPrivateBanking Research surveyed 195 websites in the 17 most important banking markets and found that 61% of the banks do not offer secure web messaging. Almost as high, at 59%, is the proportion that do not give privacy warnings to users of their website...
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Comment: Good Old Times for Offshore Wealth Managers Gone
The latest data from the Swiss National Bank show that foreign assets in private Swiss bank accounts have declined by almost 30% since the beginning of 2008 whereas domestic assets have declined by only about 14%. One important reason for this is the huge amount of net money outflows of private foreign money. ...
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Wealth: New Trend in Client Behavior
The Internet is changing from being a platform of information to a social network, enabling the senders and recipients of information to engage in real communication, feedback and networking. And hence the Internet is turning more and more into a social network. An important trend for wealth managers is that affluent or wealthy individuals use more frequently the general platforms like...
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Wealth: Engaging Potential Clients Online
Wealth Managers do not use interactive tools sufficiently on their websites. In our recent study the majority of the websites displayed an outdated internet functionality from back in 2000. A failure to engage the client on the website and learn about his needs and preferences....
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Wealth Managers: Reality Check on DAX-Prognoses 2007 - 2009
Around the turn of the year banks and wealth managers publish their forecasts for the development of the major stock indices in the new year. Most of them conclude them with the prediction of the index points at year-end closing. Media coverage for these forecasts is guaranteed, accuracy however not at all, as a recent analysis shows....
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Daniel Fischer on UBS Global Property Fund
Dr. Daniel Fischer, senior partner of the Zurich law firm "Fischer & Partner" has played a central role in the aftermath of a number of the latest financial scandals. We have interviewed Dr. Fischer about the latest developments with regard to the UBS Global Property Fund....
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Wealth Managers: Lessons from the HSBC Data Theft
We don’t know how many client files “Hervé” and his mysterious female companion have stolen from their employer HSBC. The estimates range from “under 10” (HSBC statement) to 130,000 (statement of the French prosecutors). But fact is that sensitive data of a Private Bank have again been stolen by an employee of that bank....
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New MyPrivateBanking Report Released
The Private Banking websites of UBS, Deutsche Bank and Credit Suisse come out as winners in a ranking of the online presence of the world's top 20 Wealth Managers. In the study UBS ranked first, with a total score of 82 out of possible 100 points. Overall, the report titled "How Wealth Managers Win Clients Online" came to the conclusion that the biggest Wealth Managers have no reason yet to be satisfied with their Internet presence....
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United States: US to Tighten the Noose on Offshore Accounts
Behind the technocratic term “Foreign Account Tax Compliance Act 2009” hides yet another round in the hunt for unpaid US-taxes around the globe. After the US government has successfully extracted the names and account data of 5000 UBS customers and re-negotiated the double-taxation treaty with Switzerland and other former offshore destinations, the next law is already in the making....
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Analysis: The Future of Wealth Management
Offshore is neither a value proposition nor competitive advantage anymore. Only an approach build on systematic and strategic client segmentation can lead to a new and improved market positioning that differentiates banks in offshore jurisdictions successfully from their foreign and domestic competitors. ...
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Wealth: Results of of Private Banking Survey
One major goal of our survey was to uncover the total costs of wealth management the client has to pay, that for two reasons are widely underestimated by clients: Firstly, the official fees are mostly in the range of 1% to 2% per year and look rather small. However, over the years they add-up and will cut your return by 30 to 40% after a decade. Secondly, besides the visible stated fees clients have to pay...
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Comment: UBS Strategy
This week UBS had its investors’ day and CEO Oswald Grübel laid out his strategy going forward. Moody’s, just one day later, has downgraded various ratings of UBS. The majority of analysts also keep their negative outlook on UBS. But while it is easy to criticize UBS, the case is nevertheless doubtful. ...
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Wealth Management: Industry Analysis
Yesterday Bank Julius Bär has made an interim statement announcing that some assets have left the bank in Switzerland because of the difficult regulatory environment. We are wondering how big the impact on the Swiss banking system really is. Have foreign account holders already moved substantial amounts of assets because of the pressure of the US, Germany and others on the banking secret? We have taken a look at recent statistics from the Swiss National Bank to clarify the big picture....
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Wealth: Results of Survey on Private Banks
The investment proposal is the basis for all future decisions and in our survey we thoroughly analyzed the proposal we received from 20 banks. In a good proposal the wealth manager should firstly summarise his understanding of the client’s personal situation, his investor personality and any specific suggestions or restrictions the client wishes. The wealth manager should...
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Wealth Management: Background Analysis
Yesterday the Austrian Minister of Finance Josef Pröll announced that Austria intends, along with Luxembourg, to block the EU-Liechtenstein treaty on tax fraud. Pröll argues that anonymous investment vehicles like UK trusts must also be included in any effort to regulate the banking secret. The background of Austria’s reluctance to agree to the tax treaty is that if the agreement with Liechtenstein is approved by the EU, Austria will be one step closer to losing its own banking secret.
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Comment: Why In-House Funds Are a Problem
Our latest report indicates that about 80% of wealth managers’ equity funds under perform their index benchmark. We have looked at the most common funds, invested broadly in equities across the regions of Europe, Asia, USA and globally. The result is hardly shocking or even new. Dozens of research studies in the past have come to the same conclusion.
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New Equity Fund Report Released
The equity funds returns of the 15 biggest asset management companies and banks 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 with focus on the regions of USA, Europe, Asia and global coverage were analysed. ...
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Wealth: Results of Survey on Top European Private Banks
Clients have rather little time for interaction with their potential banker to make the important decision whom to trust with managing their money. Consequently clients start evaluating their possible new adviser from the first contact on. The professionalism...
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Wealth: Easier Search and Selection of Providers in 60 Countries
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....
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A Farewell to America
Dr. Konrad Hummler, Chairman of the Swiss Private Banker Association, CEO and owner of Switzerland’s oldest private bank, Wegelin, is not a man who minces his words. The title of his most recent article on investment is “A Farewell to America” (available only in German). ...
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Comment
On August 19 the US and the Swiss government disclosed some (but not all) details of their agreement regarding the case IRS vs. UBS. It required only six pages for the US and the Swiss authorities to determine how the private financial data of thousands of US citizens will be swiftly handed over by the UBS to the Swiss government and thereafter to the waiting hands of the US authorities. ...
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Wealth Managers: The Success of Warren Buffett
This week Berkshire Hathaway’s Class-A stock reached USD 100,000, the first time in 8 months. Berkshire’s Class-A shares are the most expensive on the New York Stock exchange. The stock is now up 40% since its 6-year low in March 2009....
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Asia: Costs of Wealth Management
Wealth Manager Manulife announced a cut in fees for its Mandatory Provident Fund (MPF) portfolios by about 0.35% to 0.5% per annum. The MPF (link) is a compulsory retirement programme for residents in Hong Kong
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Asia: The New Wealth
In April 2009 a commentary column appeared in the Chinese People’s Daily with the title “Don’t Hate the Rich, Be One of Them”. The columnist, Ling Hongmei, argued that “a society not creating wealthy people is never progressing on the healthy track”.
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Interview: Dr. Daniel Fischer, Leading Attorney of Madoff Victims
Dr. Daniel Fischer, senior partner of the Zurich law firm ´Fischer & Partner" plays a central role in the aftermath of a number of the latest financial scandals. He filed a successful class action suit – the first of its kind in Switzerland – on behalf of clients financially hit by the collapse of Lehman Brothers and is also part of the international alliance of attorneys representing victims of Bernard Madoff's ponzi
scheme. In this exclusive interview...
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Asia-Pacific: Changes in Indian Tax Systems
The Indian finance minister has proposed to raise the threshold limit for the levy of wealth tax from the existing Rs 15 lakh to Rs 30 lakh (ca. USD 62k) starting March 31, 2010. The tax rate of 1 per cent of the net wealth ...
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Comment by Steffen Binder, Managing Director, MyPrivateBanking.com
Last Friday, the Wall Street Journal reported about massive kickbacks allegedly paid by the Madoff firm to the Austrian fund manager and bank founder Sonja Kohn. In its report the newspaper refers to investigations of US and Austrian authorities...
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Wealth: The World Wealth Report 2009
The assets under management of the 15 leading wealth management firms fell on average by 22% from 2007 to 2008. But in the same period the pre-tax profit margins of these firms, dropped only from 30% to 24.5%. This is a, frequently overlooked, result of...
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Wealth: Global Study on Investor Behaviour
A recent study reveals that the majority of wealthy investors (88 per cent) recognise that there are significant investment opportunities available in the current environment. However, the majority of them (68 per cent) are shying away from investing....
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Wealth: Real Estate Markets
Britain’s property market has been a disaster in the last one and a half years. After five years of exploding prices and then followed by the credit crunch, global recession and an overall tightening of the mortgage market, the real estate market crashed. Most regions across the UK have been affected. Some areas have been hit extremely hard. Average prices in...
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Offshore in Delaware
President Obama has put the fight against tax evasion high on his political agenda, especially with respect to money in global offshore centres. During his campaign Obama liked to joke that one building on the Cayman Islands...
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Asia-Pacific: Emerging Markets for Wealth Management
The number of millionaires in China has grown drastically over the last few years. As a consequence the private banking activities have grow as well....
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Wealth: Study on Quality of Financial Advice in Germany
Twenty percent of private investors in Germany are willing to pay for independent advice on wealth management. This figure was a result of a recent survey of 1100 private investors conducted by TNS Infratest on behalf of the German DZ Bank. ...
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Wealth: Double Taxation Agreements Revised
The Swiss government has just announced that they have completed the revision of the first double taxation agreement with Denmark to comply with OECD standards on information exchange. ...
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New Survey on Top European Private Banks
MyPrivateBanking.com has just released its annual survey on the top European based private banks. 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 asset management. ...
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Wealth: Private Banks In Search Of A New Business Model
The recent actions by the US Justice Department and the IRS against the UBS highlight the increasing pressure on the so called offshore banking model. Private Banks in Switzerland, Liechtenstein, Luxembourg, ...
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Wealth: Private Banks Under Attack
Quirin bank is headquartered in Berlin. But you cannot find its offices in the posh new centre of Berlin-Mitte or in the fashionable quarters of Charlottenburg. Quirin is located at the...
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Wealth: Insights in Wealth Management
Trying to buy the “wealth management” service is as cumbersome as buying a car. To get a good deal a client has to compare different offers, try to understand the ongoing costs, the amount of kickbacks the dealer gets from the manufacturer...
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Asia-Pacific: ETFs Further Spreading
Investors who want to participate in the economic growth of Greater China (PR China, Taiwan, Hong-Kong) could so far only choose between the rather expensive funds or try their luck as a stock picker. As a new sign that the spreading of ETFs (Exchange Traded Funds) is accelerating, the stock exchanges in Taiwan, Hong-Kong, Shenzhen and Shanghai want to collaborate ...
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United States: UBS Selling Part of US Branch Network
It looks like the Swiss-based bank UBS, the world largest wealth manager, continues to scale-down its operations in the U.S. market....
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Wealth: New Verdict of German High Court
The German Federal High Court ruled that a banks themselves have the burden of proof on whether a client was informed about kickbacks and not the other way round. ...
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Asia-Pacific: Offshore-Banking
The Indian Tax Authority has send notices to more than 50 individuals who allegedly have accounts with the LGT Bank based in the tax haven of Liechtenstein, requesting information on...
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Wealth: Costs of Wealth Management
Over the course of the last few years, we have been seeing an increasing number of clients demanding more transparency from their wealth managers. Since self-regulation obviously has not worked, laws and courts have stepped in to end the practice of kickbacks, or at least make them transparent to the client...
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Wealth: Analysis
The Economist has just reported that, according to a survey, 15% of the wealthy had left their main adviser last year and a further 70% had pulled some of their money away. So it seems that quite a few wealthy individuals...
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Advice: Results of Private Banking Report
In our mystery shopping study we analyzed the investment proposals we received from the top-20 European wealth managers in respect to their asset allocation and cost structure. Both areas showed significant weaknesses and following we have compiled a list of recommendations for clients and as well wealth managers on how to deal with costs: ...
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Advice: Reduction of Wealth Management Costs
The majority of private banking clients underestimate the cost saving potential of their mandates. Not all costs are obvious to the clients and more often than not they don´t utilize the room for negotiations with their wealth managers to reduce the fees.
However, new service providers are emerging to assist the client in gaining more cost transparency and realize the savings potential. They negotiate on the client´s behalf with the wealth managers...
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Advice: Meeting a Potential Client
We believe that only a structured client questionnaire ensures a comprehensive profile. Unfortunately, we have found that only a small minority of banks is using structured questionaires or check lists to get a better understanding of their potential client. Some advisers don't even ask any questions at all. Therefore we have drawn up a list of ten things a wealth manager should at minimum ask from a potential client
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Advice: Results of Private Banking Survey
At the height of the financial crisis, early in 2009 MyPrivateBanking conducted a mystery shopping study among the top-20 European wealth managers. The investment proposals of many of these banks revealed significant weaknesses in the process of determining the right asset allocation. We have compiled a list of the most important measures for an asset allocation that is not driven by the sentiment of the day but by objective criteria capturing the the goals and situation of the client. ...
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Interview with Raoul Hinder, CEO & Co-Founder of Portfolio Consulting AG
All asset managers tell you that they are good. But are they? Portfolio Consulting, an independent service provider based in Switzerland and Germany, analyses the returns and costs of wealth managers and makes their performance and their risk transparent. Raoul Hinder is the co-founder and CEO of Portfolio Consulting AG. In this interview he explains how objective portfolio controlling works, what its benefits are and where the wealth management industry is headed.
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Advice: How to Invest in Mutual Funds
Many investors are wondering whether or not it makes sense to invest in active funds at all. Here are our top-10 guidelines for fund investment. The main take-away is: only when a fund manager can prove a long-term outstanding performance does it make sense to invest in an actively managed fund....
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Interview: Alan Miller on the Fund Industry
Alan Miller is Senior Partner and Fund Manager at Spencer-Churchill Miller Private, a boutique wealth management organisation. Alan Miller was formerly the Chief Investment Officer and founding shareholder of New Star Asset Management from early 2001 until his departure in early 2007. Recently he has made various critical comments about the high fees and the often low performance of the mutual fund industry....
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Advice: Should You Really Become a Private Banking Client?
The CEO of Julius Baer declared that the bank would now accept clients with invest-able assets as low as 800,000 Swiss Francs (instead the previous minimum of 1 million). Likewise, the private banking service of the Spanish BBVA said that it would lower the minimum requirement for becoming a client from 2 million Euros to about 1.5 million Euros....
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Wealth: Survey on Top European Private Banks
During our visits of 20 of the most important private banks in Europe we learned a lot more about the customer interface and inquiry of private banks. Our recommendations for clients and banks...
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Advice: Fixed Income Strategies
As the Wall Street Journal has reported, many private investors have recently moved their assets into bonds.But is it a good idea to move your assets to bonds or bond funds instead?...
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Interview with Kripa Sethuraman, Family Office Exchange
Kripa Sethuraman is Managing Partner of Family Office Exchange, London. Kripa is an expert on all matters related to family offices. In this interview she talks about the challenges in setting up and running a family office especially during times of financial distress....
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Advice: Cut the Costs of Wealth Management (Part 4)
The amount you should pay for your wealth management is determined by your ability to analyze the various cost factors and your willingness to pressurize your wealth manager. Research shows that your total costs of wealth management in most cases should not exceed
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Advice: Costs of Wealth Management
As a client, you not only pay a substantial direct fee for your wealth management, but also indirectly for various hidden costs of products and services. However, while product issuers and banks charge these costs, they actually do not keep them entirely. They give back a huge chunk to the middlemen and the investors to “encourage” them to choose their products....
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New Wealth Guide
It is definitely possible to make money through investing in top wines; however, it is certainly not as easy as is often suggested. Well known financial market-rules and risks do apply to wines also, sometimes even more so.
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Advice: Cut Your Costs of Wealth Managment (Part 3)
In the third part of our series we focus on the hidden costs clients of wealth managers have to pay. By understanding their significance and structure, clients have big additional lever to cut their costs of wealth management.
Because no matter what pricing model you choose, they have all one thing in common: You only see the direct costs
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Advice: How to Select Your Wealth Manager
Our readers frequently ask for advice on how to select a new adviser. Many clients are insecure about the method to identify the critical information they need to know before they pick a new wealth manager. ...
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Interview with Paul Amery, IndexUniverse.eu
Paul Amery is the managing editor of IndexUniverse.eu. In this exclusive interview for MyPrivatebanking.com Paul talks about the specific aspects of ETF and index investments...
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Advice: When to Say No to Your Adviser
In our latest Private Banking Study we found one quite surprising result: Many of the surveyed financial advisers recommended our test client to time the market. Their logic was that ...
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Advice: The Right Asset Mix (Part 3)
In the previous articles of our series we have talked about investment goals, risk tolerance and uncertainty. We have shown how these factors come together to form your investor personality. But you may ask yourself: How do I practically find out about my investor personality? ...
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Advice: The Right Asset Mix (Part 2)
In part 1 of this series we talked about the three main factors that determine your outlook on investments: Your investment goals, risk tolerance and the ability to cope with uncertainty. If you take these three factors together you can determine a person’s overall financial personality....
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Advice: Cut Your Costs of Wealth Management (Part 1)
In the first part of our series on how much clients should pay for their wealth management we look at the often underestimated significance of slight changes in costs on the overall performance.
The costs that wealth managers show their existing or potential clients have always one thing in common: They look small....
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Advice: Cut Your Costs of Wealth Management (Part 2)
In the first part of our series on how to cut the costs of wealth management we showed how small changes in costs will have a high impact on the overall performance. In the second part we analyse the various cost drivers and pricing models of wealth management. Only if a client understands all factors influencing his costs he will be able to reduce them....
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Advice: The Right Asset Mix (Part 1)
What is the single most important factor that drives your financial success? You may think it is the right pick of stocks or the right timing (to invest when markets are rising and to pull the money out when markets are sinking). Wrong! ...
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Advice: How To Optimize Your Portfolio
Asset allocation can make or break your financial future! MyPrivateBanking.com presents a new guide on the topic of “Making the Right Asset Allocation”. The return on and risk of your investment portfolio is mainly influenced by two factors that are under your control:...
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Advice: Watch Your Wealth Manager
Have you also lost a ton of money with complicated structured products, hedge funds, private equity and financial stocks? Has your bank recommended and promoted these securities right when the markets were approaching their climax in 2007? Well, you are not alone. ...
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Advice: New Guide on Costs Analysis
With rather simple measures clients of wealth managers can reduce their costs of wealth management significantly. This is a main result of the new MyPrivateBanking.com guide...
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Guest Commentary by Rick Bookstaber
I am not going to spend time here talking about how the price of gold is off-the-wall, that it is not just a bubble in the making, but a bubble waiting to burst. I don’t want to waste your time on that point.We all know it is a bubble....
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Series on ETFs (2): How Risky Are They Really?
This article addresses the default risk of ETFs. The simple answer is short: in general, there is no risk of default for ETFs. A fund sponsor is usually required to keep fund assets (e.g., stocks) separately from the fund sponsor’s own assets. There is, however, another riskier type of ETF called a swap-based ETF...
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Series on ETFs (1): How Risky Are They Really?
Given the present "ETF-hype", some investors fear that ETFs might carry their own “dirty little secrets” to make them more profitable for the issuer but also riskier for the fund client. In order to answer these questions we will publish a series of articles to take an in depth look at the major risks of ETFs...
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Products: Socially Responsible Funds
In Copenhagen politicians are gathering on a mammoth conference to discuss climate change and its implications for humanity. This is only one sign that the environment and the responsible use of resources have become a major global topic. But it is not only politicians who think about responsibility. Wealthy investors have been pouring money into socially responsible investments (SRI) in unprecedented amounts....
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Products: The Real Costs of Mutual Funds
In our recent analysis of mutual funds of the largest wealth managers and private banks we have specifically looked at the Total Expense Ratio (TER). This ratio is the closest measure to evaluate the costs of a fund. But as our research shows the TER is by no means a sufficient number to assess the real total costs of a fund. ...
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Products: Fixed Income Index Investing
The Wall Street Journal reports that pricing is becoming an increasing problem for bond ETFs. A bond ETF is an exchange traded passive index fund that tracks an index of bonds. This can be an index consisting of treasuries, government bonds or corporate bonds. There are mainly two problems that can potentially compound to the distortion of the pricing of the bond ETF...
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Products: Commodity Investments
Today the gold price has surpassed the “magic line” of USD 1000 per ounce. Other commodities like oil or certain metals have also come back a long way from their lows at the end of 2008. It seems that with some silver lining on the horizon of the economy, commodity investors have become especially bullish again....
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Collectibles: Wine as an Investment
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?
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High Net Worth: Tips for Budget Conscious Wealthy
The economic crisis has reduced the assets of many of the formerly rich considerably. We hear that some have even to give up on their NetJets and need to learn how to stay in a much tighter travel budget. But here comes the silver lining on the horizon...
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Products: How to Create an ETF Portfolio
In part 1 of our series we talked about the right index to chose when investing in ETFs. The question now would be which are the right product and the right fund provider. ...
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Products: How to Build an ETF-Portfolio
This Website has been actively supporting the use of index products like ETFs to build an investment portfolio. The advantages are very clear: on average index funds are significantly better performers than managed products and the costs are much lower....
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High Net Worth: Crisis Hits Private Jets Business
NetJets Europe announced that it is to reduce its workforce by the equivalent of 300 full-time pilots as a response to the hard hit the economic crisis took on the corporate and private jet travel market. According to the industry journal Flightglobal, NetJets Europe has 60,000 excess duty days that they need to reduce. The company already cut its planned business jets delivery by 60% for 2009....
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Collectibles: On What the Wealthy Spent Their Money in 2008
The year 2008 took its toll on the amount High Net Worth Individuals (HNWI) spent on collectibles, with huge declines in sales of private jets, yachts, luxury cars as well art and jewellery, gems and watches. ...
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Products: How Risky Are Your Financial Products?
It was in August 2008 that Malcolm Casey*, a resident of Highland Park (New Jersey, US), was getting a little worried. For months and months his portfolio, consisting mostly of “defensive” structured products, has been generating losses and being just a few years away from retirement, he felt that his life savings were in danger. ...
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Exclusive Interview: Hedge Fund Expert Richard Bookstaber
Richard Bookstaber, renown risk management and hedge fund expert, is the author of the book “A Demon of Our Own Design”. In the following exclusive interview with MyPrivateBanking.com Richard explains his views about risk and hedge funds with a special emphasis on the private investor....
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Collectibles: The Wine Investment Column
En primeur is a method of purchasing wines early, even before they are bottled and are still in their oak barrels. In this system, practiced for example within Bordeaux but also in Burgundy and in other premium wine regions......
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Products: A Simple Way to Gain Currency Exposure
Currency ETFs these days are quite the rage. It is a relatively new product category, first started in 2006. Recently various currency ETF providers have further expanded their product range. So, are these products useful for affluent private investors?...
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Collectibles: New Auction World Record for Cars
A pontoon-fender 1957 Ferrari 250 Testa Rossa (TR) was sold for €9,020,000 in Maranello, Italy to set a new auction world record as the most expensive motorcar ever to be sold at an auction. ...
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Charity: Charity Under Fire
A recent research study criticises the Bill and Melinda Gates’ foundation on the way the spending on health are distributed. The study, published in the medical journal Lancet, questions the accountability and impact of the granting of funds by the Bill and Melinda Gates Foundation. In 2007 the amount spent by the Gates foundation, USD 1.22 billion, almost equalled the funds spent by the WHO. ...
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Products: ETFs Further Spreading
Investors who want to participate in the economic growth of Greater China (PR China, Taiwan, Hong-Kong) could so far only choose between the rather expensive funds or try their luck as a stock picker. As a new sign that the spreading of ETFs (Exchange Traded Funds) is accelerating, the stock exchanges in Taiwan, Hong-Kong, Shenzhen and Shanghai
...
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High Net Worth: Wealth Management of the Rich and Famous
Kim Basinger, Burt Reynolds, Mike Tyson and Meat Loaf all have one thing in common: They earned a fortune during their career and still at one point had to file for bankruptcy. This anecdotic evidence is backed by statistics from various professional sports leagues....
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Charity: UK Giving List
The Sunday Times Giving List revealed that despite a 37.5% fall in the combined fortune of Britain's top 1000 wealthiest people this year, the top 100 philanthropists have put £216m (€242m) more into charity than during the previous 12 months....
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Products: Check your Portfolio
No matter what pricing model you choose, they have all one thing in common: You only see the direct costs such as transactions costs, flat- or performance-fees. What you do not see, but pay as well, are the hidden fees and costs for the various investment products in your portfolio. ...
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