4. Private banks
Designed exclusively for wealthy individuals, these banks offer comprehensive financial planning and wealth management services as well as investment advice. They also offer credit lines and loans and provide their clients with preferential rates. Although there can be significant fees attached to the products and services on offer, it is an advantageous and unique banking solution for very high-net-worth individuals and families. Private banks also offer wealth planning experts to rich customers who want to set up family offices. These specialists advise on trust and business structures, privacy issues and reporting, as well as other succession and tax planning issues.