Had a great meeting this week with a small private bank. It continues to amaze me that I can still find a new bank (and indeed one that I had never heard of!) after years of working to maintain relationships with bankers of all kinds. This bank has a great offering – a very traditional personal banking service but with all the up-to-date things that you would need.
People tend to have pre-conceptions about Private Banking – that it is for the rich, its stuffy, its expensive etc. Like anything it depends on who you use.
Private bankers can be very helpful for ‘bespoke’ lending deals – if they like you as a client (and that may be as much about your future potential as your current wealth) they have the flexibility to do funding deals that a conventional bank wouldn’t be able to do.
This bank has a specialism in ‘Matrimonial Dispute Loans’ – quite smart as it involves mainly lending to wives going through divorces who need to pay their legal bills. It takes the form of a ‘posh bridging loan’ and the clever marketing comes from the fact that the client will then usually bring all her setttlement monies to the bank for investment advice.
I’m keen to take business to this bank as I was impressed with what they can do and how they ‘behave’
.