Let it be a multinational business enterprise, a medium-scale firm, or a small nuclear family, finance is something that you must keep an eye on. To run any establishment, you need funds. With life becoming more unpredictable, you never know when you will incur an unforeseen expense. Therefore, many people put more emphasis on saving and investing. Though most people realize the need for investments, not everyone does it.

One of the reasons is they do not know how to invest, and in most cases, they are sceptical about investing a part of their hard-earned income into something they have little or no knowledge. This is where private banking in Singapore comes in. If you need a good banker to help you with your finances in Singapore, private banks can help you.

They have experts who can guide and provide you with valuable advice regarding finances and investments. These banks also offer other facilities apart from investment planning and advice.

Why do you need a private banker?

Private banks provide several features useful for managing your finance and accessing your bank accounts. Generally, a private bank offers several features other than basic banking and fund transfer services. Some of the features are:

• Wealth Planning

Wealth planning, also known as wealth management planning, is a process that provides clients advice on how to build, manage and protect their wealth. It is an advanced level of financial management in which the plans and roadmap to achieve the goal differ from client to client. Private banks help you with wealth planning, wherein their experts will provide assistance based on your current financial status and what you want to achieve. Usually, wealth management involves tax planning, wills, estate planning, and retirement planning.

• Investment Advice

Investing can be a little scary, especially when you hardly have any knowledge about how and where you want to invest. To invest intelligently, you need reasonable knowledge about stock markets, market conditions, and how to manage risks. Learning them can take time; however, you can always seek assistance from experts.

Private bankers are experts who deal with investments and have good knowledge about the market. They can provide you with a deep insight into where to invest. They can formulate a suitable investment plan based on your preferences and goals.

• Sustainable Investing:

Sustainable investing has a thriving market all around the world. Many economies and governments are encouraging sustainable investing. Since it has a good market, most private banks offer advice on sustainable investing. Apart from contributing toward a sustainable world, you can also generate a reasonable income. Get expert advice regarding sustainable investing portfolios and frameworks such as ESG investing, impact investing, etc., and grow your wealth.

• Digital Exchange Facilities

Apart from financial and investment planning, private banks also offer a fully integrated digital exchange platform to trade in cryptocurrencies. These platforms are protected using high-grade safety measures and encryption. So you do not have to worry about security threats. You can access and view digital currencies and assets anytime on the banks’ online apps.

These are some noteworthy features offered by private banks in Singapore. Private banks today provide numerous services that help their clients achieve their goals. Development in finance has changed the role of a private banker. Today a private banker is expected to offer services other than general banking facilities. They advise you on portfolio management, assess risks, and even plan wealth succession.

In short, private banks in Singapore have become a one-stop solution for all your financial needs.