Private Banking

Private Banking

Banking services offered to high net-worth individuals. Private banking services are largely related to asset management; that is, a private banking institution assists the high net-worth individual in investing his/her money in exchange for commissions and fees. Private banking combines some of the services of a brokerage with normal banking services. Importantly, high net-worth individuals have some investment vehicles open to them that are prohibitively expensive for other investors, notably hedge funds. Some private banks allow clients who invest $50,000 or more, but others require a minimum investment of $500,000.

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