Advisors > Wealth Management > Private Banking
Private Banking, Consultants & Advisors
ESOP Marketplace connects you with local Private Banking Private banking is banking, investment and other financial services provided by banks to private individuals who invest sizable assets. The term "private" refers to customer service rendered on a more personal basis than in mass-market retail banking, usually via dedicated bank advisers. It does not refer to a private bank, which is a non-incorporated banking institution. Private banking forms an important, more exclusive, subset of wealth management. At least until recently, it largely consisted of banking services (deposit taking and payments), discretionary asset management, brokerage, limited tax advisory services and some basic concierge-type services, offered by a single designated relationship manager. On the whole, many clients trust their private banking relationship manager to ‘get on with it’, and take a largely passive approach to financial decision making. Historically, private banking began in Europe to manage the assets of Royal Families, and has been viewed as a very exclusive niche that only caters to High-net-worth individuals. An institution's private banking division provides services such as wealth management, savings, inheritance, and tax planning for their clients and assisting Family Offices. A high-level form of private banking (for the especially affluent) is often referred to as wealth management.