[Finterest] Private banking: How the wealthy keep the money within the family

Rappler speaks with UnionBank and Swiss private bank Lombard Odier to understand how the wealthiest individuals manage their fortunes across generations

MANILA, Philippines – Picture this: after decades of hard work, your business has blossomed into its own little empire, and you’re preparing to pass the torch to the next generation.

“In the area of wealth management, achieving their financial goals has always been the driving force behind investment behavior among Filipinos. They want to ensure that they accumulate their wealth and then be able to pass this on to their next generation,” UnionBank Private Banking head Arlene Tanjuaquio-Agustin told Rappler.

For example, if you hold multiple stocks in technology companies, you should consider investing in stocks from unrelated industries as well. This helps mitigate the risk of your entire portfolio being wiped out if a major issue hits the tech sector.Because of this, clients are increasingly looking to invest beyond borders for better diversification and stronger performance, Magnenat said.

“We are also looking at the goals of our investors of seeking higher yields given the prevailing market condition. It’s quite challenging because of the high inflation, so their target ROI has been very steep,” Agustin said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

rapplerdotcom /  🏆 4. in PH

Banks In The Philippines Personal Finance Tips Business Editors' Pick Personal Finance Stocks &Amp Banking

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

[Finterest] Credit card 101: How does it work, and which one is for you?Rappler talks with UnionBank to explain the benefits of credit cards for different market segments, guidance on getting started, and tips for responsible usage
Read more »

Rappler, world’s fact checkers issue statement vs attacks at Global Fact 11 conferenceThe Sarajevo statement, signed by 130 fact-checking organization from 80 countries, addresses concerns over escalating attacks on fact checkers and the growing challenges they face, like the rise of artificial intelligence tools
Read more »

Rappler columnist Ruben Nepales bags multiple wins at Southern California Journalism Awards 2024His prizes include first place in the Obituary/In Appreciation for Film/TV Personalities section in the Online/Print category for his piece ' I say a little prayer and a lot of thanks to Burt Bacharach for his music'
Read more »

[Rappler’s Best] Divided we fall'If it had been the usual form of resupply mission deployment, why did the government hesitate to immediately tell the nation what exactly happened?'
Read more »

Rappler Talk: Leila de Lima completely free after 7 yearsIn her first sit-down interview after her acquittal, Leila De Lima speaks with Rappler reporter Jairo Bolledo to discuss her plans for herself and her advocacy
Read more »

Rappler Talk: Leila de Lima completely free after 7 yearsIn her first sit-down interview after her acquittal, Leila De Lima speaks with Rappler reporter Jairo Bolledo to discuss her plans for herself and her advocacy
Read more »