Private clients told to top-up or ship out? - Spear's Magazine

Private clients told to top-up or ship out?

Could private banks be creating opportunities for financial planners, by asking clients to either top up portfolios battered in the stock market crash or go elsewhere?

Could private banks be creating opportunities for financial planners, by asking clients to either top up portfolios battered in the stock market crash or go elsewhere?

According to a report in Citywire, Lloyds TSB Private Bank and Coutts are among those said to have requested that clients put more money into portfolios that have dropped below their minimum thresholds.

It is unlikely that they would be alone, as banks weed out clients that have ‘fallen through the the wealth threshold’.

For further details visit thewealthnet



 

FOLLOW US ON