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Barclays Private Bank was founded in 1690.
It is a British multinational bank headquartered in London.
Barclays has over 4,750 branches in about 55 countries and employs around 10,000 people.
Barclays Private Bank operates under two main divisions:
Barclays is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority. It is also a member of the London Stock Exchange and NEX.
Barclays' overall services can be grouped into 3 main categories:
Here's an overview of what each of them entail.
Barclays' banking services range from digital services to credit solutions. This includes:
|Discretionary services||Under this, a dedicated portfolio manager invests on a client's behalf.|
|Advisory services||Under this, the client still has control over his portfolio but gets advice from a dedicated private banker and investment advisor.|
|Execution only||Here the clients are not advised (by choice) but provided with market information and real-time data to facilitate their decision making.|
|Direct access||This service gives clients access to execution specialists and dedicated experts in equity, fixed income and the foreign exchange markets.|
3. Philanthropy services:
Barclays Private Bank offer philanthropic services to clients to help them identify causes close to their heart and advice them throughout the way. This includes guidance on the best structure options, causes, areas to support and more.
We would recommend reading the 'expert verdict' section of this review to make an informed financial decision.
Additionally, here's a free guide that can help you achieve better results. In this guide, you'll learn:
Yes, Barclays Private Bank does offer their services to corporates and intermediaries.
Their regional operations in Switzerland are said to serve corporates and other independent managers.
Yes, Barclays Private Bank has an office in the Middle East.
They also have offices in:
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Barclays is a very large, top tier private bank with a very strong brand name, making them a good option for senior international investors.
However due to its sheer size, private banking clients are likely to be treated as a number, and less likely to experience the traditional values you might expect from a private bank, such as trust and an uncompromising duty of care.
Barclays also lack independence and are only able to push their own products and services, as opposed to being able to offer you the best available in the market.
This is likely to result in higher fees.
Because Barclays 'do everything', their private bankers are also likely to be incentivised to sell you a bit of everything.
If you are already a private banking client of Barlcays, we would recommend a no-obligation Second Opinion to ensure you are on track to reach your ideal future.
Additionally, we are happy to review the financial plan that has led to the investment portfolio you currently have.