Due to recent developments about Silicon Valley Bank (SVB) both in the UK and the US and Signature Bank in the US we wanted to provide our esteemed clients and partners with an update regarding our exposure to SVB and Signature Bank. The short answer is that our exposure is non-existent, as we have never held
What Knight Frank’s wealth report tells us about HNWI investment
Each year, Knight Frank publishes its Wealth Report, a deep dive detailing the finances of ultra-high net worth individuals or UHNWIs. For its 2023 report the company surveyed over 500 private bankers, wealth advisors, and family offices representing a combined wealth of more than $2.5 trillion. And while its report estimates the world’s richest people lost
Digital-First Banking Requires A Customer-First Approach
Customer first = Digital first 📲 For decades, smaller financial institutions have eaten up ground on their major competitors by focusing on providing a level of customer service that larger corporations can’t. Today, a customer first approach means providing a digital first solution as ease and efficiency become a clients top priority when engaging with
Wealth Resurgence Offers Opportunities
The UAE is preparing itself for a record influx of HNWI’s during 2023, with over 5,000 set to relocate there before the end of the year. The move is fuelling a booming private wealth market in the gulf as individuals look to take advantage of the good infrastructure and low taxes. It’s a continued sign
Daniel Gould joins Privat 3 Money Board
We are delighted to announce the appointment of Daniel Gould as Non-Executive Director to the Privat 3 Money board. A hugely experienced and influential senior executive and entrepreneur, Daniel is an expert in building digital financial institutions from scratch. He is a speaker on a range of topics including the digitisation of financial services, digital ecosystems and
European Private Banking: Resilient Models For Uncertain Times
A challenging economic outlook is pushing many private financial institutions to triple their investments in technology. Uncertain times are fuelling an acceleration of change in the private finance space, with this week’s McKinsey & Company report into the European market showing that both big and small players are rapidly evolving their business models to ride the wave
Surge in Current Account Customers Ditching and Switching their Bank
Online banking, better customer service and an easier-to-use mobile app were the reasons behind a record number of current account switches in the UK last year. In the final three-months of 2022, 376,000 people moved banking providers, many to digital banks or e-money institutions that offered more sophisticated digital features. The data is further evidence
Digital Banking’s Wealth Capabilities Appeals To Younger Consumers
Wealth building capabilities are proving the major draw when it comes to onboarding Gen Z customers to digital financial institutions. The young no longer view traditional wealth building tactics as their lone path to retirement, instead turning to a wider range of resources for their first-time investments including mobile trading (as provided by P3), cryptocurrency
London’s on the up as an UNHWI location of choice
The global ultra-high-net-worth population has fallen for the first time in four years during 2022, but that hasn’t stopped the number of those living in London rising. According to a report released by Wealth-X last week, the number of people with a net worth of US$30 million or more — fell 6% to 392,410 in the
Privat 3 Money launches bespoke mobile trading platform to HNW clients
Privat 3 Money has launched a bespoke mobile trading platform, accessible via its mobile app, becoming only the second digital financial institution in the UK offering this in-app service. The trading platform has been brought to market via a partnership between FINRA regulated DriveWealth and FCA regulated P3 Wealth, a Privat 3 Money sister entity.