logo

Top Ten Private Banking Client Questions

   

Added on  2019-10-16

1 Pages350 Words94 Views
 | 
 | 
 | 
Financial ServicesImagine that you are a private banker working for a large financial corporation. The compliance department has asked you to type up a list of ten questions that must be asked of new private banking clients. This list will be handed out to each and every private banker that works for the organization to be incorporated into the client intake process. Consequently, you must not only list the question you are asking, but you must follow each question with a paragraph explaining why this question should be asked, and why it is important to the private banker and the company to know this information. Consider information that would be important not only for developing an investment plan, but also to cover compliance requirements. (Note: this list could literally be hundreds of items long, so it will by no means be an exhaustive list. List the top ten questions you think should be asked).Requirements: 12 Point Font, Times New Roman, 1 inch margins on all sidesDouble SpacedMinimum of three pages.These are the questions I was able to bring out of myself. But I don’t know how to answer those questions. They are as follows:1.Personal situation (profession, children, family, residence)2.Financial situation (asset to be invested, real estate, other assets as well as tax issues)3.Income situation (salary and other income)4.Risk appetite and investment horizon (objective risk requirements)5.Ability to cope with uncertainty (subjective feelings about volatility)6.Quantitative objectives of the investment (expected return)7.Life goals (Where do you see yourself in 5, 10 and 25 years?)8.Desired type of cooperation (advisory or discretionary mandate, also form of communication)9.Other requirements (e.g. large payouts that are to be made from the assets, currency preferences)10.Source of the assets, tax status.
Top Ten Private Banking Client Questions_1

End of preview

Want to access all the pages? Upload your documents or become a member.

Related Documents
Importance of Accounting Principles and Concepts
|19
|5652
|85

FNSASIC302 Assessment 2 - Performance: Review Statement of Advice Requirements
|9
|1006
|187

Financial Planning and Forecasting Techniques
|12
|2939
|195

Numerical based question
|11
|1360
|73

Finance Loan Application for Glossy White Pty Ltd
|18
|2854
|342

Financial Planning for a Doctor and a Speech Pathologist in Melbourne
|4
|1157
|230