There’s no one-size-fits-all solution when it comes to selecting an ideal financial partner. But financial intermediaries who desire personalised service and a long-term partnership are sure to hit the mark by choosing a boutique private bank.
Sylvain Gysler, Head of Intermediaries at VP Bank (Singapore), explains the boutique approach in the intermediaries business.
As the consolidation of the banking landscape takes its course and consequentially creates ever-larger financial enterprises, the number of independent asset managers and intermediaries is on the rise.
And those professionals are seeking the exact opposite; in other words, smaller private banks with a boutique approach – institutions that can provide bespoke solutions and first-rate, personalised service.
Independence Means No Conflicts of Interest
Be there no doubt, big banks can bring to bear some weighty advantages, such as a global network and the widest imaginable array of services that can range from tax planning to advice on artwork or purchasing a palace in the pines.
Nonetheless, the major players in the banking industry will always have difficulty shedding their reputation as dispassionate mass-marketers. Questions also arise as to the will – or even the ability – of large financial institutions to place the cultivation and nurturing of long-term relationships at the heart of their endeavours.
Keen Focus on Client Needs
There are other options, though. Traditional yet highly modern financial services providers like VP Bank lay claim to their boutique approach, one which affords a big plus in terms of personalised care and the lack of potential conflicts of interest.
The keen focus on client needs across all organisational and hierarchical levels is without a doubt the greatest strength of this «boutiqueness»: VP Bank’s employees share a common goal and are all pulling on the same end of the rope.
Reliable Private Bank
«As a totally independent market participant, we can draw on a product universe that is not only on a par with the offerings of the big players; in many ways, it is far superior,» Sylvain Gysler says. Not least of all thanks to VP Bank’s worldwide collaboration with renowned partners, clients have access to solutions that are indeed hard to surpass.
And of course, part of the package is the traditional intense desire to earn and preserve long-term relationships with intermediary clients, whom VP Bank avidly supports as their reliable private bank.
First-class Service for Intermediaries
VP Bank’s boutique approach to collaborating with intermediaries is evidenced by its services and products, each of which is aimed at satisfying the special needs of those professionals. For instance, the Key Account Management process encompasses comprehensive advice for fiduciaries and external asset managers, as well as all of the most important services, each of them tailored to the client’s specific requirements.
That offering is supplemented by an Active Advisory Team – highly committed investment consultants who take the initiative by providing short- and medium-term investment recommendations, switch ideas and portfolio consulting services. Sylvain Gysler also announces «ProLink». VP Bank’s new information platform is specially designed for use by intermediary clients and will be available by June 2017.
Gaining an edge through agility
What’s more, smaller financial institutions have processes and systems in place which, experience shows, are more flexible and more easily scalable than those at major players in the industry.
As a client-centric private bank for wealthy individuals and demanding intermediaries, VP Bank is very nimble and can adapt quickly to changing client needs and new opportunities. The reasons are obvious: flat corporate hierarchies, short decision-making paths, and the approachability of top management.
Worldwide Network
Also defanged is the argument regarding the vast networks mega-banks have at their disposal. As one of the largest banks in the Liechtenstein financial centre, VP Bank Group operates not only out of its office in Singapore but also at six other locations across the globe: the headquarters in Vaduz, Switzerland, Luxembourg, Singapore, Hong Kong, Russia and the British Virgin Islands.
On top of that comes a worldwide network of partnerships with outstanding situative know-how that the Bank’s client advisors can access as needed. Thus, VP Bank is big enough to render indispensable services in first-rate quality, yet small enough to maintain one-on-one contact with its clients.
And the international presence enables VP Bank in the advisory and execution processes to accommodate country-specific «givens» and support financial intermediaries in the most appropriate way.
Stability You Can Count On
In view of the ongoing consolidation in the financial industry, stability is another plus point for VP Bank’s interaction with intermediaries as well as private clients. One of the most important questions these people ask themselves when choosing a financial partner is, «Will the bank still be there in five years’ time?»
Especially for family-owned businesses and financial intermediaries who need to plan for generations to come, this is indeed an important consideration. «For more than six decades, VP Bank has been a steadfast banking partner for intermediaries and their clientele»; Gysler points out.
Keeping Pace With the Time
In fact, the intermediaries business was an integral part of VP Bank’s DNA at the time of its inception. Founder Guido Feger was himself one of the most successful fiduciaries in Liechtenstein, and the intermediaries business has been a core activity of VP Bank Group ever since – hardly any other institution attaches as much importance to this client segment.
The Bank has always kept pace with the times, and its modern infrastructure is evolving in lockstep with the changing needs of financial intermediaries.
Sound and Successful Business
A further guarantee for the continuity, independence and sustainability of VP Bank Group is its financial solidity. For instance, in 2016 the Bank’s core capital ratio increased to 27.1 per cent – the envy of its peers – from 24.4 in the previous year.
And recently, Standard & Poor’s reaffirmed its fine «A-» rating for VP Bank and raised its outlook from «Stable» to «Positive». These grades attest to the sound and successful business model of VP Bank Group. Moreover, VP Bank is one of the very few private banks in Liechtenstein and Switzerland to even be evaluated by a major international rating agency.
Sylvain Gysler summarises what private clients and intermediaries expect of VP Bank: «large when it helps to be large, yet small where it counts». These characteristics are also reflected in the Bank’s core message: Safely ahead.
Rock-solid Capital Base
«In just two words, we codify the attitude, spirit and quest of VP Bank. We keep an eagle eye on the changes as they emerge and use them to our best advantage. And as the financial, political and regulatory word continues to evolve, we are well equipped to rise to the challenges and benefit from the opportunities. Our rock-solid capital base vouches for that. And keeping ahead, keeping close to our clients, proving our reliability on a daily basis, and rendering top-notch services will remain the decisive factors for VP Bank and its business success – as well as that of its intermediary clients», Gysler concludes.
Facts & Figures of VP Bank Group
VP Bank Ltd was founded in 1956 and, with its 804 employees (738 in full-time equivalents) as at end-2016, ranks amongst the largest banks in Liechtenstein. Today, VP Bank is present with offices in Vaduz, Luxembourg, Zurich, Tortola (British Virgin Islands), Singapore, Hong Kong and Moscow. VP Bank Group offers tailor-made asset management and investment advisory services to private clients and financial intermediaries.
Thanks to the Bank’s genuine open architecture, clients benefit from independent counselling: included in its investment recommendations are not just the Bank’s own asset management solutions but also the products and services of other leading financial institutions. VP Bank is listed on SIX Swiss Exchange and is rated «A–» by Standard & Poor’s. The Bank has a solid balance sheet and capital adequacy. Its anchor shareholders take a long-term view and stand squarely behind continuity, independence and sustainability.
Facts & Figures of VP Bank (Singapore) Ltd
VP Bank (Singapore) Ltd is a boutique private bank with a client-centric business philosophy. Established in 2008, VP Bank (Singapore) Ltd is the Asian subsidiary of the Liechtenstein-based VP Bank Group with more than 40 employees.
VP Bank (Singapore) Ltd provides specialized wealth management solutions and family office services for high-net-worth clients and professional asset managers.
VP Bank (Singapore) Ltd is dedicated to the protection and growth of clients’ wealth. The bank offers a holistic suite of services and advisory, not just in wealth management, but also in inheritance planning, structuring of trusts and foundations, as well as art and philanthropy. Apart from private wealth management, VP Bank (Singapore) Ltd provides comprehensive services for asset managers and other financial intermediaries. The service offering comprises a trading platform, banking services including ebanking and mobile banking and operational support. Partnership arrangements with professionals include tailor-made investment advisory, discretionary management solutions and custodian services.
