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Your Questions
A Private
Banking Service
At what stage do you get it and what would
Rothschild Bank International
you expect from it?
The issue that is consistently identified as the most important asset allocation advice to arrive at an optimal investment
factor for clients is having someone at your bank that you portfolio. Additionally, the Rothschild Trust Group is one of
know and trust. Just as important is that your banker gets to the largest providers of trust and company services in the
know your circumstances and attitude to risk, so they can be Channel Islands completing the range of wealth management
alert to identifying any new product opportunities that would services available to private clients from Rothschild.
suit your requirements. Banks call it relationship
management and while, for the high street banks, this is a Banks in the wealth management arena tend to take a more
service that is usually reserved for those with a qualifying bespoke view of clients’ requirements in contrast to the high
balance, it is regarded as the distinguishing feature of what is street banks where off-the-shelf solutions are dominant.
referred to as “private banking”. As you might expect, at
Rothschild this approach is the norm! An interesting example of our recent bespoke product
development relates to the explosion in the past ten years of
The starting point for private banking services varies, with £1 non-Spanish nationals buying property in Spain. Far too
million often being the benchmark, although it is certainly many expatriates find out the hard way that inheritance tax
possible to open conventional bank accounts well below this (IHT) does not work the same way in Spain as it does in
threshold. For instance, £100k (or currency equivalent) is all their home country. This affects all property owners in Spain,
it takes for you to open an account with Rothschild Bank not just residents; the extreme rate of Spanish IHT is
International, an amount which often surprises potential 81.60%. The answer is to minimise the amount of assets
clients as the name Rothschild carries the misconception that that are exposed to this. Although funds may be available to
we only open our doors for multi-millionaires. Furthermore, purchase a property outright, a mortgage is a very effective
we construct or manage discretionary investment portfolios way of reducing the total value of your Spanish estate
from as little as £250k. exposed to IHT.
For the past 40 years our Channel Islands operation has Our CreditSelect mortgage product, enables the Spanish
provided a comprehensive range of banking services for home to be purchased or refinanced using a mortgage, with
private clients and professional intermediaries, focused on the the proceeds of the mortgage being used to buy a bespoke
preservation of wealth, the management of risk and a investment portfolio of equities and bonds that is held outside
detailed understanding of each client’s needs. Your dedicated of Spain, therefore not forming part of the Spanish estate.
account executive will discuss with you our private client Although this idea has been around for several years now, the
services, which includes call, fixed, structured, dual currency Rothschild product, available for properties valued in excess
and fiduciary deposit accounts. Also available are Visa debit of Euro 250k, also provides the potential for a regular income
and charge cards, sterling chequebooks, foreign exchange, to be drawn from the profits made on the investments, as
24-hour access to Internet banking through ArrowOnline, well as a capital release sum up-front and at the same time
international payments, standing orders and direct debits. diversifying your investment in overseas property into a
You would also have access to an execution only securities medium-long term investment portfolio. This facility is also
dealing and custody service with portfolio valuations available available to owners of Portuguese residential property, albeit
24/7 through ArrowOnline. the IHT rules there are different to Spain. t
Bespoke and competitively priced credit facilities are also Since looking after your money and wealth is a serious
available which cater for your needs as a private individual as business, it is important to choose carefully when selecting
well as any trust or corporate structures. Loans, guarantees, your banking partner. Finding a bank for you in the Channel
standby letters of credit and a wide range of equity, fixed Islands is not a problem, however, finding the one that can
interest and mutual funds are acceptable as security along best meet your individual requirements is a question of
with cash, commercial and residential property. shopping around. Rothschild has the structure, the services
and the experience required to offer you the complete private
We provide investment services through a sister Channel client service and help you manage your money most
Island company, starting from £250k, involving strategic effectively.

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