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wealthy people tend to take a different approach to managing their money research shows that a Rach and the ultra-rich set themselves apart from the average show chiefly when it comes to banking investing and saving individuals with a high net worth are keen on unadopted specific banking habits that allow them to manage their cash properly rub elbows with other like-minded investors and bankers and be exposed to unique and profitable investment opportunities in this program we uncover ten banks and financial groups that specialize in helping people become multi millionaires even if you're currently now rolling in an ocean of cash you can still contact some of those institutions and learn to apply some of their tactics when dealing with your own personal finances don't go anywhere [Music] welcome back folks to another revision oh I see the cutely we are doing fantastically I hope you are doing wonderful if you are please go grab a cup of coffee or tea or good luck Bob let's roll today I want to talk to you about ten banks and financial groups that specialize in helping people become multi millionaires I didn't save millionaires I said multi millionaires before we jump into the Nitty Gritty here let me first give a shout out to Reggie sudden Grand Forks of tutorial scarlet murky Valley City North Dakota and Macy cook battle slate and off the corner Reggie scarlet and Mason thank you so much for you support all the way from out the corner we appreciate it number one Robin thinks now it's very important what is private banking probably the banking consists of personalized financial services and products that are offered to the high net-worth individuals right now the thing is that banks and other financial institutions have a separate Department called private banking and private banking includes a wide array of wealth management services and all of those things all those services are provided under one roof so services such as investing tax services insurance estate planning trust and portfolio management are offered under the umbrella of private banking now private banking is aimed at is an exclusive clean our clientele right but consumer banks and brokerages of every size offering this is because in the last five to ten years banks have realized especially investment banks have realized that the domain for private banking was rising not only on the individual side but also on something called small business owners but also the family offices so now one thing you want to understand here is that you don't to have a lot of cash to be applied of of a private thing all you gotta do be the thresholds defer from bank to bank so you got to go to your bank and ask them usually the starting amount is fifty grand so fifty thousand we have fifty thousand of investable assets this is very important in investable assets then you can you can be a potential client for a private bank now one thing that's very important and I want to I really want to to emphasize is here you need to talk to your bank all right there are a lot of perks and privileges that come with the private banking and privacy as the word entails private banking privacy is the primary benefit of private banking right so customer dealings and services provided typically remain anonymous private banks offer high net worth individuals with tailored proprietary solutions and a lot of those solutions are kept confidential to prevent competitors from luring a prominent customer with a similar solution so you would see a lot of a lot of any time you want to open a private bank account what will happen is that your bank your financial institution will direct you to another department and you will be taken care of by somebody who is specialized in that separate service so because again their banks are trying to protect their proprietary products and solutions when it comes to private banking now private banking clients typically receive discounts or preferential prices on products and services for instance they may receive special terms on proper interest rates or mortgages so if you are if you are a private bank clients at your bank maybe you would receive your your mortgage will be one percent your mortgage interest rate will be one percent less than the average you might receive specialized loan that apply to your particular situation online of credits so and again as a client of private banking your savings or money market account might generate higher interest rate and they may be free of all the fees and all the overdraft charges now some banks especially in the United States I'm not gonna name names here but you you know I'm talking about the big names the Bank of America the shipping Morgan the Citibank the there was Fargo and so on and so forth if you are a client of their private bank Department here as a client you might and if you operate an import-export ventures you might actually get away with the foreign exchange fee so you're not going to be charged any foreign exchange fees this is the oldest things really add up really it depending upon your up with the particular situation those fees and those perks and those savings really add up so private bank is the number one financial institution that helps people become multi millionaire number two investment banks now investment thing what is an investment bank now an investment bank is a financial intermediary that performs various services now most investment banks in the United States specialize in large and complex financial transactions such as acting as the middleman between a securities issuer and the investment public they facilitate mergers and acquisitions they they do underwriting so basically you might say well this is geared toward an institutional clientele but not really why because a lot of investment banks have private banking arms and some even have asset management arms so they are able to offer for instance if you have an IPO an initial public offering which is the first time a company is issuing securities stocks as proud as an investment bank clients as an individuals that is you would receive you might receive first notice you might receive a preferential treatment when it comes to allocating to you some of those shares now those shares will be add very very good rates because they are pre-sale so for instance if you have company X that has to follow that P oh and the a pill price is 25 bucks you might actually buy the the share at 25 now check this out one deed when the shares hit the market the shares might jump to 30 or 35 or 40 so you are realizing a $15 per share profit so it is very it is very interesting to be a client of an investment bank now of course when it comes to investment banks the threshold in disposable assets goes a little higher up here we're not talking about 50000 here we're talking more sometimes half a million or even a million because investment banks traditionally deal with institutions but if they have to deal with individuals those individuals better be you know loaded in terms of cash right so again in the United States major invented even globally major investment banks include credit suah starship tank doctor bang consider Group Bank of America Morgan Stanley Goldman Sachs JP Morgan Chase now one thing you have to understand is that some investment banks specialize in particular industry sectors right and many investment banks also have retail operations that serve small individual customers that's what I said earlier now here I'm not going to spend too much time explaining the the the kind of work that investment banks do primarily because we have a whole show dedicated to that topic but just so you know that investment banks help individuals become multi millionaire we'll be right back right after this no go ahead looking back folks to another edition of sweet kiwi we are still continuing with our compilation of institution financial institutions that help people become millionaires and multimillionaires before I quickly go to number three I want to give a shout out to Jeff Lawrence in was well institution number three family offices now what is the family office a family office is a private wealth management advisory firm that serves ultra high-net-worth investors now this kind of institutions are different from traditional wealth management jobs because they what they do is they offer a total outsourced solutions to managing the financial and investment side of an affluent individual or family for instance mainly family offices especially in the United States and Canada and I think also in much of the developed world they offer things like tax services wealth transfer I'm talking about estate planning that kind of stop the physical the physical facets of wealth transfer family-owned businesses charitable giving so anything that is full of profit related for properly anything that is philanthropic related they will take care of that insurance of course budgeting right so again I spoke here about what ultra high-net-worth now the threshold here is high yes some starts at part of a million to half a million the the thing is that in the last five years we've seen in the industry that we've seen a new crop of family offices that are offering services to the low end here so people with 100k and disposable assets can actually tap into that kind of tap into the expertise of family offices so you can still you still have a chance to to enlist to get into their roster of clients if even if you don't have a million dollars now some high net worth individuals may want to consider opening a family office themselves so you know if you believe that you are you are comfortable and you can actually open a family office it's a it's pretty simple you just have to enlist the services of people who are already in the industry and with the good thing here is that by opening your own family office you can actually even seek clients from other rich clients or the wealthy clients to come join your family office and you can manage now you by the person if that the pros that you're gonna hire will be managing will be managing the wealth of those clients now you can even do a collab because most family offices combine asset management cash management risk management financial planning lifestyle management tax management and other services to provide each family with the essential elements for addressing the significant issues it faces as it navigates the complex world of financial management so that the point here is that if you have if you know several families or if you know two three four families who are doing pretty well financially you guys came can actually gather into a family office and again if you are not financially savvy you can hire people who know people who know what they're talking about when it comes to finances and they will manage the cash for you so that's really in them in a nutshell the essence of a family office one thing I also want to talk about here is that family offices also manage something called lifestyle management now last time management it's very important when you get into a certain level fineness wise certain level wealth wise right so I'm talking about things like you want your personal concierge you wanna you want someone to handle your personal affairs somebody to cater to your last needs you know things like the personal security for home and travel aircraft private jet you know yet management travel planning and fulfillment and all a bunch of other stuff so this is very important if you're a busy person that you need that kind of assistance then a family office can take care of that now number four private wealth managers now Private Wealth Management is think of it as an advisory practice that incorporate everything that incorporate incorporate portfolio management financial planning right any it but tax planning estate planning and so on and so forth now private wealth management management aggregates services that not only touch on the short term here but also the medium and long term now the the good thing here is the difference between private wealth manager and wealth managers and family offices for instance is that private wealth managers focus on early you where as a family office might be focused on an array of clients unless it's a family that is a large that's wealthy enough that they own their own family office right now let me give you different types of private wealth managers you have banks and large brokerage houses but folio managers independent financial advisors and those people in institutions focus on high net worth individuals so again the goal here is to let you know that those people focus on how to network Network individuals but you don't have to be loaded financially to start benefiting from their services the key idea here is to peg out in circles were professionals who already cater to those wealthy people hang out right so the the first step here is to start talking to your bank and ask them what kind of services they have what kind of you know private banking services they have what kind of private wealth management services they have what kind of portfolio management services they had and that kind of stuff right so private wealth managers provide expertise and guidance across a vast spectrum of investments and this includes a creationist thoughts fixed income I'm talking here bonds and alternative investments alternative investments we have a whole show about that this includes things like commodities real estate art luxury wine this sort of illiquid this sort of this sort of rare investments all right I will be right back right after this don't go anywhere welcome back folks to another edition of swidecki we're still here talking about money how to make money how to preserve money how to maintain cash and wealth throughout your life if you like this kind of topic this kind of content you think you think we're adding value to your life please consider subscribing to our Channel right now we really appreciate it we we drop new programs every every day we really we we do a lot of research to make sure that we provide the best quality of content right there please subscribe to our Channel of course like I said before please like this content share it and a comment below let us know your experience when it comes to wealth management if you know of any other institution that that caters to the multi millionaire now quickly want to give a shout out to Kieran Collins in Oakdale California Kiera Smith in San Francisco California Eve Baker in San Jose of course in California Eve Baker Kyra Smith Karen Collins in the great state of California really appreciated number five real estate fund now real estate fund our professionally managed portfolio of diverse holdings alright there are most most real state funds invest in commercial or corporate rental properties now sometimes they might do residential investments right now the thing here is that a real estate fund can invest directly in properties through something called real estate investment trusts REITs or indirectly in other words they could just take the cash that that either you put that that investors give them and they can just buy on the open market arrays a rate fund a real estate investment trust fund right so like stock funds the real estate funds can invest domestically internationally your book and the good thing here is that if you are sort of once if you want to diversify your income sources or your portfolio you might want to check them out you might want to reach out to a real such fund because of the fact that if they are investing in in the domestic and international market that allows you to diversify to sort of tap a little bit into you know to get some return from overseas also so this is a very important thing now the D when it comes to real estate funds one thing that you need to remember here is that they tend to follow the mainstream economy here in terms of performance right so if we have a period of inflation and economic growth those funds will usually post wonderful returns now if you have a recession as we had in 2008 for instance you know their performance will fizzle now it's all about your your risk profile and it's all about your personal financial situation so make s re that whatever you do you always talk to a financial adviser or you if you are financial savvy yourself that you kind of look at the broader picture here right now you have to understand one thing also is that real set font tend to be more volatile than broad-based growth funds or income funds so you know again as I said before you might be hit hard if in this ones that is to say when the market collapses right so a lot of investors lost money of course in the subprime meltdown in 2008 but of course they rebounded afterwards it's all about the financial situation and your risk profile now number six asset managers there is something called asset managers for asset management company now an AMC is a company that invests pooled funds from clients and what they do is to put the capital to work via different investments including stocks bonds real estate limited liability companies and more what they usually do they require people to be high net worth and do the peanut you have a lot of money but again historically they amc's have a have been able to accept people with lower thresholds so if you have 50k or hanukkah depending on your situation and your and your prospects of future wealth they might accept you so I'm talking about companies like tiro price fidelity investments Vanguard Group those are they specialize in asset management and if you want to grow your portfolio over time you might want to you know just check them out basically they have a website they usually even post the rate terms of their investment so you can actually gauge their performance over five 10 years and see what kind of what kind of stocks what kind of sectors they have invested in that kind of stuff so again the idea here is to to do due diligence to do your old homework before getting to that those kind of funds so still asset managers were the number six so number five rail stitch phones number six asset managers so this is basically it so we'll be right back right after this but before we go just want to quickly give for those who just joined us right we're talking here about ten banks and financial groups that specialize in helping people become multi millionaires and here is the context of today's conversation wealthy people tend to take a different approach to managing their money research shows that the rich and the ultra rich set themselves apart from the average joke chiefly when it comes to banking investing and sailing individuals with a high net worth are keen on adopting specific banking habits that allow them to manage their cash properly rub elbows with other like-minded and investors and bankers and be exposed to unique and profitable investment opportunities in this program I'm talking to you about ten banks and financial groups that specialized in helping people become multi millionaire even if you're currently not ruling in an ocean of cash you can still contact some of these institutions and learn to apply some other tactics when dealing with your own personal finances we'll be right back right after this welcome back folks to another edition of sweetie Kiwi we are wonderful we are doing wonderful I hope you are doing fantastic also and we are continuing on our on our compilation of those institutions that help people make become you know make a big big big big big big bang here hahaha so before I do that let me quickly give a shout out to Jesse Griffiths in Apalachicola in Florida I love that name Apalachicola in Florida Sarah Carter in Kentville Florida and Jasmine Morris in Tequesta Florida really appreciated thank you so much for your support for your feedback we really appreciate it let's just let's just jump right into it number seven private equity firm now a private equity firm does a lot of stuff now before we talk about private equity firm let's sort of define what what is a private placement now private placement refers to the sale of shares or bonds to pre-selected investors and institutions rather than on an on the open market if you think about it you know we talked about what an initial public offering is right an IPO where you come to the markets the larger market in yourself share is right so and that one everybody can can buy it can buy them but the private placement is just if you will the opposite or the the alternative to an IPO so if you have a company let's say a company wants to raise cash right and they want because they wanna raise cash for expansion what happens here is that investors again here we're talking about pre-selected investors and institutions they are invited to participate in a private placement program now this program this programs usually involves institutions such as patient funds right insurance companies mutual funds banks and when it comes to individuals you're talking about wealthy individuals or well-connected in videos again sometimes it's not about me they have in the cache having a million or ten million or 20 million or 100 million in the bank account sometimes it's all it's all it all boils down to what connection are you connected or do you have bankers in your entourage do you rub elbows with investment bankers right so you you want to be at the right place at the right time so a private equity firm what they do is they participate in private placement programs so they buy they try to buy shares in the private market not in the open market and you don't have to own a private equity to make money all you got to do is place a little bit of your cash with a private equity firm right now think about it this is huge right because imagine that deal imagine you were part of a private equity firm a PE firm that invested back in the days when Google was just Google or when Facebook was Facebook those private key for equity firms that invested back then they made a killing limit limit tons of cash I mean I'm talking about 1,000 person Reacher or even more imagine you're invested about about $1,000 in Facebook and you bought that share say at 5 bucks and they share the shares value today I don't know but they should just for the sake of an example here imagine of the share is now 500 bucks or so on each $5 that you're invested you are getting 500 in return that's that's really that's actually actually actually getting 495 and even less than that if you take the TPP firm there are fees right but the bottom line here is that either way you're making money right your are making money so participating in a private equity firm or being a client of a PE firm helps you so a PE firm helps people become multi millionaire number eight hedge funds now I know I know I know a lot of sometimes when we listen to when we hear about hedge funds we only hear about sometimes we hear about bad news but hedge funds do a lot of good stuff in the in the economy particularly when it comes to helping people become multi-millionaire now I'm not saying that you know all hedge funds are ethically correct here in every industry you have so you have the majority who abide by the rules and you have a tiny tiny minority who basically want to do they want to cut corners right now hedge funds are the constitute of great institution when it comes to helping people become multi millionaire now the thing is that a hedge fund is only open to quote unquote accredited or qualified investors and you and if you want to invest with them you have to meet certain network requirements usually you gotta have a net worth exceeding 1 million dollars in disposable in investable income an investable asset I'm not talking about your primary residence or no that's one billion dollars that is just sitting in the bank account they're just waiting to be invested right or if you have if your annual income is over a quarter of a million they might consider you now in the last few years in New York and LA to Chicago in Hong Kong in Tokyo in Paris and in other sort of wealthy enclaves in the world you've seen a an emergence of hedge funds that allow individuals with as little as one hundred thousand in an investable acid2 to jump on board in other words they accept clients there are less worth wealthy the good thing here is that you also want to you always want to research the hedge funds first or you want to ask around you want to ask your banker you want to ask the financial advisor because hedge fathers are very good when it comes to increasing your wealth but the problem is that you want to check their performance over the last five years and most importantly you want to check their performance all right because they charge a performance fee now they also charge something called an expense ratio but the performance fee is really what really I would say that could be a killer for instance there's something called two twenty two and twenty in other words they charge two percent asset management fee and then a 20 percent cut on any gains generated what does that mean it means that if the if a hedge fund has say 100 million in assets they charge a two percent to car operational expenses so two percent of 100 million will be two million so that 2 million is it's gonna help them like you know pay for things like you know payroll rental office rent all that kind of stuff right it allows them to to to operate and then if they make a profit if they make a game they take another 20 percent cut right so if they generate say 10 million dollars in game capital gains were in the year right so 10 million of 20 percent that's 2 million so they would take a 2 million cut right now when it comes to hedge fund hedge funds from an investment perspective could be interesting because they use a variety of strategies when it comes to investing so these things like the macro equity activism relative value or distressed securities so by being diversified that really allows you to to also diversify your own portfolio here ok we'll be right back right after this don't go anywhere don't go anywhere welcome back folks to another edition of swidecki we was still here talking about ten banks and financial groups that specialize in helping people become multimillionaires number nine venture capital firms now before we talk about venture capital firms please do me a favor if you like the content we've been sharing with you so far smash the subscribe button and turn on the notification bell so you can be kept aloof kept in the loop whenever we drop into a new show please like this content share with your phrase family and colleagues everywhere we want people to know that there are banks and financial proofs that specialize in helping people become wealthy please comment below give us your experience and also please watch our ads we this show is ad supported we depend on the resources from the ads to be able to expand our our lineup of programs to hire more people to upgrade our equipment to finance the trips and for all the investigations that we have to do thank you so much we really appreciate it shout out to Reggie Roberts and clover South Carolina and Heidi's shot up to Highsmith Columbia for South Delilah and le Lloyd in Fairfax South Carolina thank you so much venture capitalist remember night what is venture family now venture capital is a type of private equity and investors provide this sort of capital to startup companies and small businesses that they see as long-term growth potential so usually venture capital comes from well-off investors financial institutions such as investment banks and pension funds now this the the difference between a venture capital firm a VC firm and a PE private equity firm is if you remember you know private equity happens at the inception in other words there is a company than its money they sell shares in the private market the venture capital they come once the company's already established okay so the companies are already established and you know the investors believe there are a long term potential long term growth potential and they will invest pino all right now the good thing here is that venture capital firms with the money they raise from investors they can invest in it in various market and in various sectors here I'm talking not only in terms of industry but also in terms of country so again the thing here is that you want to have diversification in Europe and your portfolio right so if you have a VC firm if you're a client of a VC firm that invest in the states in India and South Africa in in Brazil in Russia and China the good thing is that if you have a lethargic market in the United States you might have a very good market a very profitable return in Asia for instance right in China so if you have two percent but for your growth in the States you might have twelve percent or 20 percent in China so at the end all this sort of different portfolios different investments balance out and they balance out to give you a nice return and that's ROI so a VC firm is number 9 on our list now in a typical VC deal large ownership chunks of a company are created and sold to a few investors through independent limited partnerships there are established by VC firms now one thing you have to understand here is that sometimes these partnerships consist of a pool of several similar enterprises right so the the I mean you know for instance a VC firm might buy a bunch of say grocery stores chains in Asia they might buy Vietnam in Cambodia in South Korea in Thailand and sort of bottle all this companies together and sell them sell that their shares actually sell our shares to individual investors and institutions and again this is pretty this is real lucrative historically the the return the VC firm have VC VC firms have returned 30% 40% to their investors on an annual basis and this is way more than what you can find on the open market stock market whatever right now of course the goal here is not for us to give you advice investment best because we do not specialize in providing investment advice right what we do here is we give you we try to expand your view expand your horizons so you know what's available out there and you can make your own investment decisions based on your situation and based on potentially the advice of a professional Europe hired okay number 10 liquid alternative funds now what are those I mean the name sounds pretty pretty funny pretty interesting but yeah liquid alternatives are alternative investment strategies available through you know vehicles such as ETFs ETS stands for exchange-traded funds mutual funds and closed-end funds now the good thing here is that those liquid alternative funds as the name implies here they provide daily liquidity right now this funds they are also called 40 act funds because they were actually created by the US Congress in 1940 now this the reason why this happened back in the days it was that Congress realized that people you know in the in the war you know after the war during the war needed to have liquidity among other things right so they made it specifically so that investors can can put their cash into this kind of products of vehicles and get daily liquidity now launches of liquid out funds tripled from 2010 to 2015 now from 2015 2020 they have quadrupled and as you have various sort of various reasons for that proof number one 2008 financial crisis a lot of investors were just scared that that crisis are scared the hell out of ventures so before people started looking for alternatives here and people realize is that you can still make money but not just focused on the real estate market or just the financial industry and more importantly you can get daily liquidity so you can take your cash on a daily basis right and another reasons for the the uptick in alternative investment funds launches is the fact that we live in a global globalized economy and investors in the United States and Canada for instance want more they want the diversification so if you have if you have a liquid art form that is geographically diversified it will get most of the cash another thing also that explains the growth theme like what outfox here is the fact that you have a parallel economy so we have the digital economy you have the real economy and you have the online economy so the percentage of business happen online is just growing by leaps and bounds so because of that investors are realizing is that we have a whole ew economy that each economy that could provide that will be the launchpad for future growth so you have some time I'm not gonna name names here but you have banks and financial institutions that sell those sort of liquid out funds that focused only on the economy on the online economy all right I'll be right back right after this welcome back folks to another edition of swidecki we we want to give a quick shout out to you or Terry snow in Pleasant Hill Mexico dance of failure Mexico in Pueblo of Sandia Village New Mexico Alma that name webelo of Sandia village shout-out to all the villagers of Pueblo Sunday village we really love you appreciate it thank you so much now quickly want to give you a recap of what we're talking about today we are talking about ten banks and financial groups that specialize in helping people become multimillionaires the context of today's conversation is that wealthy people tend to take a different approach to managing their money research has shown that the rich and the ultra rich set themselves apart from the average Joe chiefly when it comes to banking investing and saving individuals with a high net worth are keen on adapt adopted specific banking habits that allowed them to manage their cash properly rub elbows with other like-minded investors and bankers and be exposed to unique and profitable investment opportunities in this program we uncover ten banks and financial groups that specialize in helping people become multi millionaire even if you're currently not roll it in an ocean of cash you can still contact some of these institutions and learn to apply some other tactics when deal with your own personal finances now were one of those ten institutions that I talked about private banks investment banks family offices private wealth managers real estate funds asset managers private equity firms hedge funds venture capital firms liquid alternative funds also called liquid off funds now those this was the recap here now let me first kind of talk to you what is today's culture called call to action here you know it's all good to know those financial groups that specialize in helping people become a multi-millionaire right but to take the first step to becoming yourself a millionaire or a multimillionaire if you're not are already one you want to determine your net worth so determine your net worth figure out your financial needs I'm talking safety retirement estate planning lifestyle and so on and so forth you want to access your risk profile are you a risk-averse individual or are you a risk taker seek the expertise of a professional and this is very important folks as I said earlier we do not provide investment advice in this show right this is not our specialty our specialty as a as a general information show we open your eyes we open your your mind when it comes to the possibilities out there but you want to seek the expertise of a professional here I'm talking about a wealth manager if he or she can be a financial adviser or private banker invest in a vehicle that is suitable for your financial institution not only your financial institution but also your financial situation and goals why you can't go to a hedge fund or a PE firm or a VC firm that is not specialized in the kind of investment you want to to to make right so that the vehicle has to be suitable for your financial institution as well as your financial situation and goals now when it comes to choosing add an advisor financial advisor you got to think about a few things right please ask yourself or ask the advisor how to make their money in other words is he's a her service commission based fee based or fee only right because if you have for instance if you have an advisor who makes money on Commission for instance I'm talking about brokers insurance agents registered representatives they might be tempted to sell you anything because if the bottom line is only to make some Commission it's all about volume right they need to produce volume so they might not be again every situation is different but historically Commission based advisors they have not always provided quality advice to clients so you want to go for a fee based or fee only based all right determine how much help you need right do you need just a limited financial planning service or do you need comprehensive financial planning guidance do you need asset management that kind of stuff now there is a website called naphtha org this is n as in Nancy he is an apple she isn't Peter F isn't Frank he is an apple that pork so not far is really the country's leading organization when it comes to advisors all right so you might want to check them out nuh-huh stands for the National Association of personal financial advisors all right we'll be right back right after this logo here alright welcome back folks that's it for today and I want to give you a crew tip before you go managing your wealth is like raising children you don't know how to do it because you've never done it by the time you know how to raise children the kids are grown so managing wealth is similar it entails planning patience faith risk-taking and emotional balance good luck and cheers to your wealth thank you [Applause] [Music] [Music]