Private Banking's Most Overused Cliches

Wealth managers love industry jargon – and clients hate it. finews.asia lists eight of the worst offenders that private bankers employ, and translates them into plain English.

1. Problem Assets 

Private bankers are generally too refined to call undeclared or criminal money by its name. Instead, they apply the more neutral euphemism. In Asia, wealth managers love to lean on science and sometimes refer to these funds as «neuralgic» assets.

It is presumably easier to show a prospective client the door when talking of «problematic» or «undesirable» assets than ones which violate regulation or laws.