Help, I'm Rich!: Your Compass to a Value-Adding Private Banking Experience
Help! I'm Rich! is a detailed examination of how private banking services can help high net worth individuals take charge over their wealth and protect their assets. Designed to increase the ability to discern between 'adding value' and 'self-orientation' and thus improve the professional relationship between private bankers and clients, this reader-friendly guide explains the concerns that typically come along with wealth, and the various ways in which private banks can help clients deal with these challenges effectively. You will learn what private banks do, which services they offer, and how to find and approach a private bank. Case studies illustrate the various scenarios presented, and graphs, tables, cartoons and diagrams help facilitate a true understanding of what private banks can do for you. A detailed description of the various asset classes explains the reasons for — and risks of — investing at each level, giving you a better idea of the wealth management methods that have proven effective for others in your class.
Whether you are new to wealth or are newly tasked with the money management aspect of it, it's vital for you to understand the ways in which your high net worth changes the game. This book is an indispensable guide to understanding the common challenges of the wealthy, and the crucial role private banks play in dealing with these challenges.
- Understand the challenges wealth brings to money management
- Discover how private banks can help address specific concerns
- Learn the questions you should ask your private banker
- Make better financial decisions by having an expert in your corner
The more money you have, the more attention it requires, and the solutions tend to get more complicated. The support of a professional services provider seems not only unavoidable but highly desirable. Help! I'm Rich! shows you how to gain the most out of your private banking experience, with detailed guidance and expert advice.
About the Author xi
Part One Introduction 1
Chapter 1 Toward a Trusted and Value-Adding Private Banking Industry 3
Part Two Investments 19
Chapter 2 Why Should I Invest? 23
Chapter 3 An Investment Approach That Suits You 39
Chapter 4 Risks? What Risks? 51
Chapter 5 The Essence of Discipline 71
Chapter 6 Who Is Managing Your Assets? 87
Part Three Credit 99
Chapter 7 Loans—Pursuing Burdensome Opportunities 101
Part Four Life Insurance 129
Chapter 8 Life Insurance—A General Introduction 131
Chapter 9 The Rich Also Benefi t from Life Insurance 145
Chapter 10 Life Insurance—Common Considerations 155
Chapter 11 Life Insurance and Your Private Banker 165
Part Five Wealth Structuring 171
Chapter 12 What Is Wealth Structuring? 173
Chapter 13 Purposes of Wealth Structuring 179
Chapter 14 Wealth Structuring Tools and Vehicles 205
Chapter 15 Wealth Structuring—Common Considerations 213
Chapter 16 Wealth Structuring and Your Private Banker 225
Part Six Psychology of Wealth 233
Chapter 17 How Wealth Can Undermine Emotional Maturity 237
Chapter 18 Raising Wealthy Children—So Many Obstacles 245
Chapter 19 Raising Wealthy Children—The Need for Awareness 261
Chapter 20 Psychology and Your Private Banker 277
Appendix: Overview of Asset Classes and Financial Instruments 289
A common ambition among many people is being rich and living the life you really want. But according to one wealth management expert, the case for being financially well-off is not always easy. Financial wealth comes with many headaches, and more commonly, in protecting your wealth and preserving it. In other words, the more money you have, the more attention it requires to managing it. While finding the right solution to cater to different wealth management needs can be challenging, the support of a professional services provider seems not only highly desirable, but even unavoidable.
Kees Stoute, the author of Help! I'm Rich!: Your Compass to a Value-Adding Private Banking Experience (Wiley; November 2014; ISBN: 978-1-119-02054-7) will show those who are new to wealth—or are newly tasked with the money management aspect of it—how to gain the most out of their private banking experience, with detailed guidance and expert advice. It covers the most commonly asked questions in managing wealth such as, “How to protect it?”, “Is it enough?”, “How to identify and materialize opportunities?”, “What and how to transfer to the next generation?”, “How to educate my kids?” and so on.
“The good news is that there exists an industry tailored to address most of the typical rich-man’s concerns: Private Banking. The bad news, however, is that the financial crisis left an ugly scar on this industry: clients have become more skeptical about the industry than ever, regulators make their presence feel through increased, often far-reaching regulation, bank managers seem more driven by fear than by hope, markets are unpredictable…no wonder that the morale within the industry is under pressure, thus eroding the passion in the industry,” Stoute said. “That makes it even more complicated to find the right professional to help the rich man manage his wealth.”
Help! I'm Rich! is a detailed examination of how private banking services can help high net worth individuals take charge over their wealth, protect their assets and get the most out of the relationship with a professional wealth manager. Designed to increase the ability to discern between 'adding value' and 'self-orientation' and thus improve the professional relationship between private bankers and clients, this reader-friendly guide explains the concerns that typically come along with wealth, and the various ways in which private banks can help clients deal with these challenges effectively.
The book will show readers what private banks do, which services they offer, and how to find and approach a private bank. Packed with case studies, graphs, tables, cartoons and diagrams, the book offers a detailed description of the various asset classes to explain the reasons for—and risks of—investing at each level; giving readers a better idea of the wealth management methods that have proven effective for others in their class.
Help! I'm Rich! is now being distributed to major bookstores nationwide, as well as major online retailers. For more information about the book and author, visit www.helpiamrich.com. For more information on where to buy, visit the publisher's website at: www.wiley.com/buy/9781119020547.
Wiley is a global provider of content and content-enabled workflow solutions in areas of scientific, technical, medical, and scholarly research; professional development; and education. Established since 1807, Wiley has been a valued source of information and understanding for more than 200 years, helping people around the world meet their needs and fulfill their aspirations. For more information, please see www.wiley.com.
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