Private Banking:
comprehensive wealth management
 By:
Ximena E. de Sierra
Managing money is,
of course, a very personal subject. On the one hand, there
are short, medium and long-term needs that often guide
major decisions. On the other, each individual
has personal preferences when it comes to investing their
money. For example, there is the conservative investor,
who believes money must be mostly saved by depositing it
in banks. And then there are the more liberal investors,
who think that money must be invested with a certain degree
of risk to obtain greater returns. And lastly, there exists
the investor who hates the idea of owing anyone anything,
as well as those investors who believe credit is a very
attractive way to reach a desired standard of living and
pay their debts little by little. To each his own.
Nevertheless, the common goal of all investors regarding
their finances is often the same: to obtain an efficient
and integrated management of their assets. This is exactly
the service that a Private Banking department offers
its clients: an opportunity for investors to manage their
assets and their credit needs, and also have access to
other banking services, with the support of a trusting
financial advisor.
What
are the standard services offered by a Private Banking
department?
Basically,
it offers specialized financial advice through highly
skilled professionals, dedicated to offering you a wide
range of investment instruments and services that allow
for a more efficient administration of your money, and
are in line with your financial requirements. A Private
Banking department provides, among others, the following
services to its clients:
- Financial advice regarding
investment options available, both locally (eg.
Certificates of Time deposits, at Banco General)
and internationally (eg. foreign mutual funds).
- Custody and
Asset Management, and other related services.
- Financial information, such
as monthly-consolidated account statements showing
account activity from various accounts.
- Loan portfolio management
(mortgages and other loans), bank accounts (such
as time deposits and checking accounts) and credit
cards.
- Guidance, alongside an advisor
if required, on preparing education savings plans
for your children and/or grandchildren, trusts
to manage assets in the long term, and pension
plans for your retirement.
Knowing each client is crucial
To be able to offer personalized services to a specific
client, the financial advisor begins by fully analyzing
their needs:
current financial situation, future plans, risk tolerance,
income and diversification requirements, and, most importantly,
the client’s personal preferences in the handling of
their assets. Once the advisor obtains the "client’s
financial profile", different investment alternatives
will be provided to take care of their individual financial
requirements, always maintaining the strictest confidentiality.
The intangible benefits make a difference
The
trust and support offered by a solid and reliable organization
and a highly skilled financial advisor are definitively
important intangible benefits when dealing with such
a central issue, as is the administration of your financial
resources. In this regard, it really does not matter
if you are liberal or conservative, economically speaking;
the fundamental concern is your desire to rely on a "financial
ally" that offers you comprehensive solutions. After
all, the decision of who will guide the management of
your assets should not be a great, big headache, but
an opportunity to improve your present and future financial
situation based on making sound decisions on a daily
basis.
Private Banking in Banco General
The
goal of the Private Banking Department in Banco General
is to create a relationship with clients seeking the
abovementioned services based on mutual trust. Jose Alberto
Humbert, Private Banking Manager at Banco General, stated, “We
offer each client the opportunity to allow us to handle
all of their financial business, so they can enjoy and
spend time on other tasks with the secure knowledge that
their ‘financial life” is managed by a prestigious
and experienced financial institution, and by highly
capable professionals."
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