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WEALTHCHECK-UPMARKETMONITOR


WHICH PARTS OF YOUR PORTFOLIODO YOUJUDGE TO BE VERY RISKY?


Stocks


Ownbusiness Cash


Sustainable investments Real estate


05 10 15 20 25 Per cent


Source: Aon/BNP Paribas Wealth Management


often sourced fromclients’ wider business networks. Asia’s wealthy clients are allocating significant portions of


their financial portfolios to their ownbusinesses because they understand the risks and returns of theirownfirms better than any other investment. They also have clear perceptions of the advantages and drawbacks of other asset classes, including private equity, real estate and sustainable investments. But with such strong


(and frequently instinctive) preferences, this audience could be underestimating certain risks, forming a blind spot in their wealth management. Clearereducation forAsian


investorsonthe risksandbenefits of various asset classesandinvestment overlayswillbecritical for helping themoptimise their decision-making. For investmentadvicetobemore relevant toAsia’s elitebusinessowners in today’s turbulentenvironment– andindeedthe post-Covid-19“new normal”–adviserswillneedtodo abetter job ofexplainingthe role of asset classes inachievingthe outcomesclientswant.


Rahul Chawla is head of wealth management, Asia and Nikhil Dama, senior manager, client insight at Aon


AGILEMANAGEMENTADVERTISINGFEATURE Makingthebankfeellikepartofthefamily


The majority of ‘first generation’ business owners show the strong potential for onshore private banking in the Czech Republic


Komerční banka (KB), member of Société Générale Group, has won the Best Private Bank in the Czech Republic award two times over the past four years. KB was highly commended two times. Petr Slabý, Head of KB Private Banking, has unveiled the reasons why KB is so successful.


WhatisnewinKBprivate banking? Weare experiencing a successful period spawnedby the renaissance of the business and economic elites. With a penetration of 35%,weare the market leader in theUHNWfamily segment. Fromour perspective this is a burgeoningsegment with a strongpotential going forward.Wehave anewunique concept forUHNW families in theCzechRepublic and Slovakia.


Thelargeshareof first-generationcompany ownersis a specificityofCzechprivate


banking.Howdoyouaddress it? TheCzechprivate sector resumedits activities some 30 years ago, and the first generationof successful owners and their families hadbecomeestablishedby now.Wehave been working withthemsince the very beginning, and are honoured by their trust to assist themcomprehensively with family succession planning and family-business development.For example,we have established a very successfulNextGenAcademy to help upskill future family successors; during the courses they advantageonsharing with top business, economic and science figures. Clients reshoring back to the CzechRepublic is


also a progressing trend.Thelocal onshore private banks meet thesamerequirements ofEuropean regulation and provide excellent services; our strong added value is combiningthe best fromboth top regional and international services in cooperationwith Société Générale Private Banking.


The development of digitalisation is accelerating now. Is this also true for private banking?


Although trust is the most critical factor between the client and private banker; modern technologies and digitalisation naturally are influencing the convenience of services and the investment opportunities.Weare progressively digitalising all services, bringing new technologies, and securing a satisfied client at the end. Since 2018 we have received the prestigiousPWMaward as the Best Private Bank for Use of Technology inCentral and Eastern Europe three times in a row.


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