Private banking and custodial platforms

BMP Wealth has been appointed an “External Asset Manager” by various Private Banks and Custodial Platforms. BMP Wealth uses its market knowledge to carefully select best of breed providers and negotiate lower costs.

Private banking offers the customer the full range of banking and lending facilities as well as portfolio management. Whilst a well-known brand provides cachet and security, in many cases, transactional costs tend to be higher than average. BMP Wealth has generally negotiated lower than normal retail costs and passes these on to clients.

Custodial platforms provide custody and transactional services for a range of securities, allowing your manager to provide a discretionary portfolio management service. Your assets are secure because an independent nominee company owns the assets on your behalf, which provides an additional level of security.

Open Architecture Insurance Schemes can offer all the above benefits along with some valuable tax advantages under certain circumstances. For multi-jurisdictional clients, Insurance Schemes also offer simplified reporting under the new intergovernmental information exchange, the Common Reporting Standards (also known as CRS). Over 100 countries have signed up to this automatic exchange of financial information.