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In a further step to bring in more transparency to the Wealth Management Market, the independent platform MyPrivateBanking.com has created the largest free online database of private banks and wealth managers from across the world.
On the MyPrivateBanking.com website, those interested can find the detailed profiles of more than 500 private banks and wealth managers in 60 countries. These profiles contain, besides the contact data, current information about locations, number of employees, legal form, date of establishment and the amount of the assets managed. The analysts at MyPrivateBanking.com have thoroughly scrutinised every individual provider. The data is based exclusively on the details furnished by the provider and can be verified.
“A large number of customers are unhappy and willing to change, but did not so far have an opportunity for making a quick search of wealth managers and comparing them, free of cost” explains Christian Nolterieke, Research Director of MyPrivateBanking.com, commenting on the purpose of the database. “Until now, the information was scattered all over, difficult to compare and often not collected using independent methods”.
The profiles of banks and wealth managers are linked to the online evaluation portal on MyPrivateBanking.com, where customers have already evaluated more than 100 of these providers. The unique combination of independently collected basic data pertaining to providers with corresponding customer evaluations makes it easier for the user to search and select a wealth manager:
- Simple search and contact across national boundaries: Assets are mobile and customers are increasingly willing to look at providers abroad. The online platform maintains all local contact data and supports search across several countries through corresponding functions.
- Verified and comparable data make the pre-selection easier: Data about the amount of the managed assets, the international footprint and size of the provider collected independently allow the user to make a pre-selection based on his preferences.
- Customer evaluations as subjective, additional information: The evaluations of the providers by others give the user additional assessments that support him in the pre-selection, or during more in-depth discussions with the providers.
“The linking of the database and the evaluation portal is a unique instrument in supporting the customer across all levels of the decision making process”, Steffen Binder, Managing Director of MyPrivateBanking.com, summarises the benefits for the customer. “The customer ratings of over 100 banks across the world already show a strong need among customers to share their experiences. The relatively high levels of dissatisfaction that were expressed in the evaluations conducted so far reflect the disappointments of the last 18 months”.
MyPrivateBanking.com will continuously update the database and expand it, and is also planning to offer free and detailed information on more than 1000 private banks and wealth managers in 2010.
About MyPrivateBanking.com
MyPrivateBanking.com is an independent platform for information and networking for wealthy private clients across the world. Established in 2009 in Switzerland, MyPrivateBanking.com offers a variety of information to assist investors in making their decisions. This includes in-house research, articles and updates related to asset management, detailed bank directories and client evaluations of wealth managers across the world. The interactive “MyWealth” online network allows the clients looking for asset managers and private banks to get in touch with one another and exchange experiences. MyPrivateBanking.com aims at making wealth management more transparent, more cost effective and giving it a greater client focus.
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christian.nolterieke[.]myprivatebanking.com 
