According to the bank, Coutts said it added 2,000 clients during 2021, delivering a £3bn increase in assets under management.
Other than the sales pitch, “We are The Queen’s banker”, what else are they selling better than anyone else? Are they delivering consistent outperformance? If you really want to know, we can help you dig deeper for your answer.
We all want to feel important, but it needs to be genuine rather than marketing. If you just want to tell everyone you are with Coutts, that’s perfectly fine. And you get to tell people or show them your Coutts card. Do you, however, compromise on outperformance simply because being with Coutts makes you feel good?
If you invest for other reasons other than performance, you have to be really clear about your reasons. Why? If you compromise on performance, you’ll never be sure of the price of your tradeoff.
“I’ve lost 2% annual performance but they make me feel good” At least you know the price of feeling good. If you don’t know the price of compromise, there is only one winner.