Due to the multitude of investment banks out there, choosing the most reliable and profitable one can be quite a challenging task. Therefore, here are some simple but very effective considerations that will help you pick the right investment banking institution for you.
You might want to start by checking whether or not you will have a dedicated account manager assigned to you. This is a fairly significant advantage, as your manager will get to know what your particular needs are, as well as your goals are and how they can be achieved. Nevertheless, the top investment banks have multiple account managers sharing the workload, so that when your personal manger is not available, another investment banker who has the necessary expertise can take his or her place.
Another aspect you should be interested in is finding out what the minimum deposit amount is with that certain financial institution. Most investment banks require that the investors have a large sum of money available to deposit. If all the conditions are acceptable so far, you can go further and find out more about the efficiency of their money management and investing strategies. You can simply ask them what makes them better than their competitors. Each investment institution claims to have some specific advantages, so they should have some responses ready to be delivered to you. Nonetheless, when investing large amounts of money, it only makes sense to sit there, listen to their pitches and find out what sets a bank apart from another bank.
Additionally, you may be interested know how their fee structures look like. While some investment banks charge a percentage of your total investment, others have transaction based fees. Some banks do not even charge any fees, as they get their money from the commissions earned for the investments they make with your money. However, keep in mind that this may cause the bankers to handle your account with his commissions and interest in mind rather than yours.
Lastly, you can check what types of estate planning services each of the top investment banks has to offer. This is a key private banking aspect to consider when choosing a bank, as the tax implications are reasonably significant, so the bankers should help you create a good strategy for organizing your estate.