The private banking industry in Singapore is fast growing, contributing to its economic and financial development. Among a few prominent reasons for the growth are value-added services like lifestyle, wealth and investment advisory services, asset protection, sustainable investing; high banking standards; and an increasing number of high net-worth individuals.
You can find several private banks in Singapore serving anyone from an individual to a small-scale firm or a multinational business enterprise. Singapore private banking offers you tailored solutions meeting your needs from daily financial transactions to corporate banking, investment strategies, and wealth planning, regardless of who and where you are.
Most private banks like DBS Bank offer distinctive services customized to meet their clients’ financial objectives. They have experts who can guide you in investments and wealth planning through effective advisory services and solutions.
Why Should You Use Private Banking Services in Singapore?
Private banks in Singapore are renowned for their services tailored to realize the long-term financial objectives of their clients. Apart from the general banking services of deposits, payments, and fund transfers, they offer:
- Wealth Planning
With wealth management or wealth planning, private banks help their clients with advice on the effective building and management of their wealth. They also give you access to a range of investments, including private equity deals and services. Your hard-earned wealth needs to be preserved and requires a roadmap and plans to attain the goal.
Wealth planning is an advanced level of financial management, wherein the experts in the bank will help you with professional advisory, succession planning, tax planning, wills, liquidity planning, estate planning, philanthropy, family legacy planning, and retirement planning.
The experts will devise a plan depending on your financial objectives and present financial status. You are also kept up-to-date with the latest insights into investment products, credit facilities, and wealth planning solutions.
- Investment Advisory
Smart investments require adequate knowledge of market conditions, stock markets, and risk management. Moreover, knowing your investment horizons and objectives is essential. Private banks in Singapore help you with customizable solutions through their investment advisory process to fulfill your unique needs.
For instance, DBS Private Bank helps you with its range of investment products like
- DBS CIO Barbell Index Note
- DBS I.D.E.A. Fund
- DBS Global Income Note
- DBS SGD Focus Note
- DBS CIO Barbell Income Fund
- DBS ESG Focus Note and Bond Fund
Other than these investment products, it also offers currency-linked investments, foreign exchange options, direct equities, money market investments, investment grade bonds, Singapore Savings Bonds, and structured investments.
Private banking service in Singapore includes devising a suitable investment plan and providing insights into various investment products and options depending on your preferences and objectives.
- Sustainable Investing
Private banks also drive a positive sustainable impact through sustainable investing, which has become mainstream investments. When governments across the world encourage sustainable investing, private banks help raise awareness among the investors of the importance of sustainability. Other than providing advice on sustainable investing, private banks also help integrate it into their portfolio. You can thus contribute to a sustainable world and grow your wealth through impact investing and ESG investing.
- Digital Exchange Platform
You are also offered a fully integrated online exchange platform to trade in stocks, commodities, and cryptocurrencies. Using advanced safety and encryption measures, private banks protect this platform against security threats.
To conclude, Singapore private banking has grown to help its clients with unique investment and wealth planning solutions apart from the general banking facilities.
