Private Banks
Barclays Private Bank
An independent review of Barclays Private Bank by our team of experts
Book a Discovery CallSummary
Barclays Private Bank is part of Barclays, a British multinational bank founded in 1690 and headquartered in London.
Barclays operates through two main divisions, Barclays UK and Barclays International, and employs around 85,000 people worldwide.
Barclays is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
Pros
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Top-tier private bank
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Strong, long-established brand
Cons
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Expensive
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Not the best way to invest
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Lacks independence
Our verdict
Barclays is a top-tier British bank with a long history and a strong brand, and for senior international clients it is a credible private banking option.
The limitation is the one shared by every large universal bank. Barclays can offer its own products and services rather than searching the open market for what is genuinely best for you, and an institution that does everything tends to incentivise its bankers to sell across the range. That rarely works in the client's favour on cost.
The underlying point is structural. A bank sells what a bank holds. Serious wealth work begins one level up, with the whole picture coordinated across your investments, structures, pensions, protection and succession, and with advice that answers to you rather than to a product shelf.
If you are already a private banking client of Barclays, a no-obligation Second Opinion will show whether your portfolio still serves your plan, or whether the plan was ever the starting point. AES will also review the thinking that led to the investments you currently hold.