Private banking tiers

Private banking tiers — the wealth thresholds at which banking products actually change: below ~$1M, “priority/premier” is a lounge pass and a salesperson; $1–5M opens true private banking (lombard credit, structured products); $5–25M the bulge-bracket banks (JPM minimum $10M); $25M+ UHNW coverage teams. The course’s verdict: the products barely improve until ~$5M while the fees (advisory, custody, retrocessions, in-house markups) start immediately — a discount broker plus declared SG banking beats the stack at everything except flattery.

First used in: 5.5 · Structures of the rich: banking tiers, trusts, PPLI, debt