The more you explore wealth management creation, the more complex it seemingly becomes. Similarly, the more wealth you accumulate, the more complex it gets. Two common choices when seeking professional help are private bankers and wealth planners.
Whilst they’re both useful to high net-worth individuals, they offer very different things. In this article, we will compare the two, discuss their differences, and dig into whether they compete or complement one another.
Scope of services
The fastest way to understand who private bankers are is to look at the services they offer. Private bankers typically work for large banks and offer a range of services, such as managing investment portfolios, providing credit solutions, and delivering personalised banking services. They focus on growing and preserving their clients’ wealth, and their expertise lies in navigating the intricacies of the financial markets.
TEAM plc (LON:TEAM) is building a new wealth, asset management and complementary financial services group. With a focus on the UK, Crown Dependencies and International Finance Centres, the strategy is to build local businesses of scale around TEAM’s core skill of providing investment management services.
