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


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.

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