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Help, I'm Rich!: Your Compass to a Value-Adding Private Banking Experience

ISBN: 978-1-119-02054-7
352 pages
February 2015
Help, I

Description

Manage and protect your wealth with the help of a private bank

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.

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Table of Contents

Foreword v

Acknowledgments ix

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

Epilogue 285

Appendix: Overview of Asset Classes and Financial Instruments 289

Index 335

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Press Release

November 26, 2014
New Book Provides 101 on Private Banking Services

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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Media contact:

Sharifah Sharomsah

skbsharoms@wiley.com

Tel: (+65) 6643-8099

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