Foreign Perspectives

It’s easy enough to find someone to sort out your day to day finances when you don’t have a whole lot of savings to play with: the majority of banks can deal with investing reasonable levels of savings or investments.

If you or your family have a major chunk of assets it’s quite a different matter though. Sure, you have the normal banking requirements that everyone has but you also acquire a lot more issues to deal with in the management of those issues from basic capital gains taxes through to handing things over to the next generation. All of these require a set of personal financial planning services that are more geared up to dealing with large amounts of money.

How large an amount of money does it need to be to require this kind of service though? There isn’t really an easy answer to that as it depends on your own circumstances but as a broad brush indication, if you have millions in assets (regardless of the currency) then it makes sense to look at this service, if you’ve under a hundred thousand it would be impractical and overlly expensive. The very large middle ground reflects the range of firms offering these services and the range of services that even a single firm will offer: it’s very much a personal service and tailored to your needs.

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This entry was posted on Thursday, January 17th, 2008 at 9:05 pm and is filed under Banking, Miscellaneous. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.