It’s a story about David v Goliath but David never wins…it’s always the Goliath.
You’ve made it. You have enough money to be targeted by private banks. Coutts, UBS, Credit Suisse, Rothschild, Adam, Schroders…there are many you can choose.
Their job is to persuade you to bank with them and invest your money. As they’ve been doing this for many decades, they are good at it. They have exceptionally pleasant people working for them. It’s easy to be attracted. In fact, it makes sense to use some of their services.
If you’ve been successful, the chances are you’ve been good at something else not managing money. As such, whether you admit it to yourself or not, they know more about money than you do. In fact, you would expect them to do so.
However, you have a dilemma. You want to use their services, but you don’t want to make mistakes.
You need a bodyguard.
The Banks relationship salespeople, and yes they are salespeople, are very good at selling the banks products. Whatever they say will seem attractive, logical, value for money. That’s because they have spent considerable time and energy thinking about how to sell services to their clients. It will always be David v Goliath.
But what if you have someone on your side? Someone, to help you balance their services to your needs and requirements? That is a financial bodyguard.