Giles Wade’s Swiss deal ‘compelling’ for clients
Private clients of Melbourne-based boutique advisory firm, Giles Wade, will gain access to a wider range of offshore investment options through a partnership with Bonhote Bank Switzerland.
Gile Wade managing director, Andrew Coloretti, said the deal, which has been approved by the Swiss regulator, would enable the firm to provide direct access to offshore assets at competitive rates, while also benefiting from the Swiss bank's research capabilities.
Coloretti said the partnership created a "compelling" offer for clients.
"Our model is non-platform, so the assets on our private client side is all retainer," he said.
"The solution that we're [now] able to provide our private clients at institutional rates with a direct mandate out of Europe is pretty compelling.
"For the high networth clients, who want to book assets or use a trusted custodian offshore in a first-rate jurisdiction… options are available, so from a risk management counterparty risk perspective it ticks a few boxes for us."
Coloretti said the partnership, which came about following an initial investment from Bonhote, would also strengthen Giles Wade's research capabilities, providing "invaluable" technical support.
AUTHOR
Nicholas O'Donoghue
Recommended for you
The Australian Financial Complaints Authority has shared how much its member fees will rise in the next financial year.
Wealth managers have said they are experiencing difficulties in aligning their company’s in-house views with the ever-increasing needs of clients, according to MSCI.
The financial advice industry is experiencing a “champagne problem” regarding pricing, with advice firms seeing no need to cut their prices to remain competitive.
Marking a decade offering managed accounts in Australia, BlackRock has elaborated on the changes it has seen in their usage by financial advisers, with net client flows rising from 4 per cent to 25 per cent.
