Anyone have an account with Pictet?

[volpunter]

"Professional investors with a Pictet custody link have privileged access to our Pictet Global Markets teams, who offer a comprehensive set of trading services."

and

"Pictet Global Markets provides global execution solutions for institutional investors as well as macroeconomic, qualitative, technical and market analysis."

I find those comments on their website pretty clear...

P.S. I assumed the whole time the topic is about Pictet from a retail perspective. If you were an institutional player I doubt you would be asking on this website.

https://www.pictet.com/corporate/en/home/asset_services/trading.html
https://www.pictet.com/corporate/en/home/trading_with_pictet/pictet_global_markets.html

 

[luisHK]

I am 100% sure they do not offer execution services unless you are their wealth management client. And if you were you would most likely not be lingering on this website (I would feel hard-pressed to imagine they take clients with assets under 20 million USD equivalent).

Just for information, some banks offer access to Pictet funds with significantly lower limits, at least through omnibus accounts.
I checked a while ago some of Pictet funds and the fee structure is 1/20 or 2/20, details are available on Pictet website. Not sure wether the introduction bank charges on top of that.

On a side note anyone here finds value in private banks ? It seems that they may make things easier if one has borrowing needs (not talking about margin on exchange traded products though) but from an investment perspective i totally fail to see the point to use a private bank as if one doesn't need the banker to direct his investments, it comes mostly to higher charges than a regular bank.
But it's easier nowadays to open bank accounts for offshore structures through a Banks's private banking branch than through its commercial branch in several countries.
Anyway if anyone wants to talk more about private banking, i'm interested to join.

 

[Soon2Bgreat]

On a side note anyone here finds value in private banks ? It seems that they may make things easier if one has borrowing needs (not talking about margin on exchange traded products though) but from an investment perspective i totally fail to see the point to use a private bank as if one doesn't need the banker to direct his investments, it comes mostly to higher charges than a regular bank.
But it's easier nowadays to open bank accounts for offshore structures through a Banks's private banking branch than through its commercial branch in several countries.
Anyway if anyone wants to talk more about private banking, i'm interested to join.

Agreed, the value of Private Banks is structuring and lending. In most cases it probably doesn't make sense to open a relationship if the goal is to open a trading acct.

 

[volpunter]

yes, sorry I thought that was what I said, that Pictet funds are distributed even to the retail crowd, not directly but via other fund distributors. My wrong if I wrongly communicated.

I agree, I even go further in completely questioning the value wealth management adds (other than of course to the bottom line of the investment or private bank). The only value added I see is middlemen that provide access to securities research and structured products (which most often are either way too expensively priced or garbage derivatives desks try to get rid off.). Wealth manager themselves have next to zero expertise in anything, hardly any of them even possess a CFA or other designation that would bestow a minimum of confidence in basic knowledge.

Just for information, some banks offer access to Pictet funds with significantly lower limits, at least through omnibus accounts.
I checked a while ago some of Pictet funds and the fee structure is 1/20 or 2/20, details are available on Pictet website. Not sure wether the introduction bank charges on top of that.

On a side note anyone here finds value in private banks ? It seems that they may make things easier if one has borrowing needs (not talking about margin on exchange traded products though) but from an investment perspective i totally fail to see the point to use a private bank as if one doesn't need the banker to direct his investments, it comes mostly to higher charges than a regular bank.
But it's easier nowadays to open bank accounts for offshore structures through a Banks's private banking branch than through its commercial branch in several countries.
Anyway if anyone wants to talk more about private banking, i'm interested to join.

 

[luisHK]

I understood your former post actually, agree with it, not sure of the account limit but from my understanding as well Pictet has a rather high minimum account size to take on clients directly.
Is anyone here using private banks for buy and hold as for this purpose the transaction costs are less important, and not very different from retail banking units ? Can you get the custody fee removed ? And if so does it reappear a year or 2 later after some "change in the bank Policy " ?
Another plus over standard personal accounts is private banks allow higher transaction limits over the phone or mail but afaik they are not keen on having accounts with a lot of withdrawals in it

 

[volpunter]

Ha, nowadays its not the bank trying to satisfy customers, in this age and time banks are choosing their customers and thanks to the introduction of tiers and different customer "classes" by HSBC all banks by now have imitated such. When I really think about the current situation isn't it absurd that clients need to be afraid to have their accounts closed because they withdrew one time too often, or because your banker does not like the client's face anymore?

I understood your former post actually, agree with it, not sure of the account limit but from my understanding as well Pictet has a rather high minimum account size to take on clients directly.
Is anyone here using private banks for buy and hold as for this purpose the transaction costs are less important, and not very different from retail banking units ? Can you get the custody fee removed ? And if so does it reappear a year or 2 later after some "change in the bank Policy " ?
Another plus over standard personal accounts is private banks allow higher transaction limits over the phone or mail but afaik they are not keen on having accounts with a lot of withdrawals in it