Private banking for our foreign customers
Under Private Banking, we understand all the financial services that we offer to our high net worth individuals. In addition, as usually called the bank departments where this bank transaction is settled.
The typical bank Group, which operates (exclusively) private banking, is the group of private banks. While the term private banking sounds like private banking and is now so often associated, but try to win customers for private banking, other banking groups, especially since they already tend to have the financial products and the technical know-how. Private banking services are now offered and provided by a variety of banks, regardless of legal status and ownership. For years, large banks, savings banks and cooperative banks are active in addition to traditional private bankers in this area.
In the recent past also fully licensed financial services established in this segment.
The advice in private banking for VARENA Financial Services intensive, individual and / or personal than in the mass banking. The idea of institutionalized multi family office is an important part of the private banking philosophy.
Our objective is to establish a long-term and trusting customer relationships to wealthy clients.
Private banking is done here in four phases:
Acquisition and consultation phase: identification, recruitment and advice to customers.(The special feature of Varena Financial Services is that our customers contact us in the first step, we do not operate customer acquisition beyond our domicile.)
Investment phase: deploying products,
Processing phase: implementation of the financial transactions and
Control Phase: observation of the performance of financial products.
Private banking involves first the use of standardized products such as payment or securities custody business, which also other bank customers are offered.
Core businesses are in particular the following services:
1. Asset management: The customer receives from his advisor investment proposals from which to choose (alone, with the consultant or together with third parties, such as tax advisor).
2. Asset management: The customer places the order, its assets in accordance with established principles for the bank. manage as risk rating; he does not directly impact on individual investment decisions, but leaves this and control the performance of his bank.
Private Banking is gaining in importance, especially as the sum of inherited wealth, especially in developed countries is growing. The special trust of customers and the high intensity counseling create on bank side so-called personal preferences that reduce the price elasticity on the customer side and increase customer loyalty. The change of the bank is not therefore for customers in most cases considered. The long-term nature of the business relationship allows under certain circumstances, an expansion of the private banking to inheritance and succession issues in companies.
Differences in taxation in different countries, the customer's desire for tax optimization and banking secrecy have led to an internationalization of private banking.