All posts by Kathryn Hall

online broker
FinanceWealth Management

Quick Tips for Choosing the Best Online Broker

There are plenty of factors that contribute to making someone a successful trader. You need the right strategy, a good idea of your chosen market, and a commitment to constant learning. However, you’ll also need access to the right tools – including an excellent online broker. For those of you who are new to this industry, a brokerage service is something that facilitates the purchases and sales that you make each day to build a successful profit in your space. There are a lot of different options to choose from, including specialist companies that focus on a particular exchange, and experts that offer advice on how to make the most of your finances. The question is, how do you choose a broker that you can trust? If you’re not certain, the following tips could help you to make the right choice. 

Know What you Need

Before you start searching on Google for the ideal company, you need a good idea of what you actually need. Are you the kind of person who mostly wants to go it alone with your accounts? If so, you won’t need access to a bunch of professional services, but you might want to keep your fees and commissions as low as possible. If you’re new to the marketplace, then it might be helpful to search for a business that offers practicing with a demo account. These environments allow individuals to put their skills to the test and explore new strategies without spending any money. Some organizations may refer to these learning opportunities to paper trading. Be honest with yourself about where you are in your journey into securities and assets and use that information to decide what sort of broker is right for you. 

Look at Credibility

If you were going to buy a new television, you’d want to read the reviews first to see if other consumers thought it was worth the cash. In the same way, when you’re trying to decide which expert to work with on your investments, it’s best to check out their reputation. Examine the website for trust signals that put your mind at ease. For instance, some companies will have certifications from certain financial authorities. You can also find out if the accounts on a site are protected with things like two factor authentications. This reduces your chances of ending up with a stolen account after you’ve made a decent amount of cash. Checking for testimonials and mentions from other happy clients can also be useful too.

Try Before You Buy

Finally, remember that a lot of brokerage firms offer you the chance to check out an account and see what trading feels like before you commit to any long-term fees. If you’re not sure whether a particular company is right for you, it may be a good idea to test them out for a while and see how you feel. You can always switch to another company if you feel that you’re not getting the right results first time around. Just be sure you haven’t signed up for any long-term discounts on yearly subscriptions or anything like that before you switch.

banking
BankingPrivate BankingWealth Management

Quintet opens for business in Switzerland

Quintet Private Bank, headquartered in Luxembourg, operating in 50 European cities and parent of London-headquartered Brown Shipley, has opened for business in Switzerland.

The launch of Quintet in Switzerland follows the successful closing of the acquisition of Zurich-based Bank am Bellevue – the wealth management business of the Bellevue Group – including approval of the transaction by the relevant regulatory authorities.

Switzerland’s newest private bank, located in the heart of Zurich’s financial center, will seek to expand Bank am Bellevue’s base of domestic and international clients, leveraging the country’s status as a global wealth management hub and Quintet’s own family of leading private banks.

Under the leadership of CEO Emmanuel Fievet and with some 40 staff, half of whom formerly served at Bank am Bellevue, the firm aims to carve a niche in this highly competitive space by combining the agility that comes with smaller size and the group’s financial resources and reach.

The Swiss firm is actively recruiting additional staff and intends to double its current headcount over the next 12 months. According to Fievet, Quintet is placing particular emphasis on identifying experienced relationship managers who share its commitment to earning the trust of the individuals and families it serves.

In Switzerland, Quintet aims to define a new standard in private banking by combining a highly personalized approach with independent, unbiased advice. With firm in-house investment convictions and open architecture, clients have access to the solutions that are right for them – provided by a team that is passionate about helping them achieve their goals through an innovative investment process tailored to each client’s individual requirements.

“Today, as we mark the closing of this important transaction, we are opening new doors of opportunity for people with an entrepreneurial mindset,” said Fievet, a member of the Quintet Group Executive Committee since October 2019 who earlier served as CEO and Head of International Private Banking at Edmond de Rothschild (Suisse). “With the right team, corporate culture and financial resources – and with a long-term horizon – we have a unique opportunity to challenge the status quo.

“I am very excited about building a new and different kind of private bank, which is small enough to be truly personal and big enough to offer access to the world,” he said. “In partnership with my colleagues here in Zurich and across Europe, we will focus on what matters most to our stakeholders, cutting through complexity, embracing diverse perspectives and growing our business – one client at a time.”

“The launch of Quintet in Switzerland is a milestone for our firm,” said Jakob Stott, Group CEO and member of the Board of Directors at Quintet Private Bank, which will also open its first branch in Copenhagen later this year, subject to regulatory approval.

“Even as we continue to invest in great people, geographic expansion and long-term growth, we will keep our eyes firmly fixed on the real prize: Doing the right thing – and not just the easy thing – for the individuals and families we serve.”

About Quintet Private Bank:

Quintet Private Bank (Europe) S.A., founded in 1949 and staffed by 2,000 professionals, is headquartered in Luxembourg and operates in 50 European cities, spanning Belgium, Germany, Luxembourg, the Netherlands, Spain, Switzerland and the UK. Widely recognized as a private banking leader, Quintet serves wealthy individuals and their families, as well as a broad range of institutional and professional clients, including family offices, foundations and external asset managers.

About Brown Shipley:

Brown Shipley is a wealth manager offering clients informed financial advice and tailored services on all aspects of wealth planning, investment management and lending. Brown Shipley has offices in London, Manchester, Birmingham, Cambridge, Leeds, Edinburgh, Norwich and Nottingham; and a heritage dating back to 1810. For further information, please visit: www.brownshipley.com

For further information, please visit: www.quintet.com

Wealth Management
Wealth Management

A Wealth Consultants Guide to Changing Wealth Managers

Wealth managers are there to seek counsel and guidance with your investment funds. Like a critical friend, they are there to help with strategy and suggest solutions to any financial queries. But what if your wealth manager is not helping you meet your financial goals? What are your options?

Changing your wealth manager can seem like an overwhelming process. It definitely can be. But if you know what you should look out for – you won’t have a single problem. If you’re reading this article, you’re in the right place because we will share some of the best tips from Alex MacEwan, founder of The Wealth Consultant.

Why Should You Change Your Wealth Manager?

Do you know that feeling when you think that nothing can improve the relationship for better and that it’s the right time to move on?

Many people have been feeling this about their wealth managers – yet not many take action to actually change them.

Why?

Because everyone is afraid of the “overwhelming” process that can occur as a result.

Perhaps your wealth manager isn’t listening to you, brushes off your requests, and only calls you when they should take action on your portfolio?  Or maybe they are the friendliest person out there – and yet your financial situation is not be getting better. If their advice isn’t changing and you aren’t seeing progress – it’s another good time to think about looking elsewhere.

When is the Best Time to Change a Wealth Manager?

No matter how badly you want to make change wealth managers,  you should play it smart. There could be timing issues if you switch mid-year. Also, you might end up occurring prorated fees if your wealth manager is charging you annually and you leave before the end of the year. 

Therefore, think long-term and always think ahead. In most cases, this will even mean that you will have to go and read the fine print of your contract with your wealth manager to gain the best understanding. Since every contract and its terms will be slightly different – this is the best way to determine the best time for you to get a new financial advisor.

How to Efficiently Change Wealth Manager to Meet Your Financial Goals

  1. Read the Fine Print

Reading the fine print of your management contract isn’t fun, but it’s the only way to gain the best understanding of your own situation.

If you aren’t sure how to find the correct time to leave your advisor – it’s highly recommended to focus on the termination part of the fine print. Are you charged annually? Is there a termination fee if you leave before the end of the year?

These details can tell you what the best time is to change your wealth manager without experiencing any financial losses.

  1. Think of the Service You Want

By now, you probably know why you want to leave your wealth manager. These reasons are helpful because when you think about them, you can know what to look out for in a new professional.

It is recommended to figure out and write down all flaws you’ve experienced, but also what type of services you require. You shouldn’t forget about the good things your current wealth manager did for you, and list them as well, since you want your new wealth manager to match these services too.

  1. Collect Your Investment Records

If you are leaving your current wealth manager, he or she is obliged by law to transfer the historical records of your portfolio to your new wealth manager. Before you even ask for the transfer, you should ask for a copy of the transaction history so you are ready to make the transfer.

Funds can also be transferred quickly and simply through automated systems like ACATS (automated customer account transfer service). In some cases, these automated transfer services may mean you do not have to let your existing provider know that you are leaving.

  1. Get Professional Help

Other than knowing what you want from your new wealth manager and collecting your previous investment records – you won’t have to do any “dirty” work yourself.

How come?

Wealth Consultants can provide you with professional help and a free digital introduction to introduce you to three different wealth managers, that match your requirements.

Professionals will handle the transfer for you and ensure that you aren’t missing out on anything. They will also deal with organising technicalities such as fund requests, initializing investment transfers, and more.

  1. Be Ready for New Relationship

Once you have found a new wealth manager, you should go over the information you’ve received and the terms you’ve set with your new wealth manager. But what should you be looking out for?

Check to see if there are any expected services missing in your contract, as this is the right time to make additional changes if needed. Also, ask your new wealth manager about any sales charges you might be expecting so there are no hidden costs.

 

At this point, you’re pretty much set with your new wealth manager. However, double checking things and learning how they work is highly recommended to ensure you are always getting the best financial advice and service.