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
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.
What is Fintech?
FinTech. Although Merriam-Webster just added the phrase to its dictionary in 2018, the concept of FinTech actually dates back decades. ATMs, for example, were once on the cutting edge of FinTech innovation, as were signature-verifying technologies first used by banks in the 1860s. But today, FinTech companies (like Privat 3 Money Ltd) are taking a sector
Wealthtech to The Rescue Amid Doom and Gloom For Wealth Managers
Traditional wealth management firms are turning to tech in a bid to save themselves, but is it already too late? The wealth management industry is on the verge of the most significant intergenerational wealth transfer in history, and new wealth holders are looking to shake things up. In 2021, EY found that 28% of wealth