Private banking


05 May 2012, 05:05 Last Updated: 26 Feb 2018, 13:02

How do private Belgian bankers see personal asset management?

Their key words are trust, discretion and a set minimum entrance portfolio of around one million euros.

Some houses do bring the threshold down to € 500.000, or even € 250.000, as long as the portfolio has potential. The price does seem to be made to measure, especially when one can see that some private bankers, such as MeesPierson, pamper their clients in the cosy rooms of a sumptuous Brussels villa and do not hesitate to trawl the chic Brussels neighbourhoods in search of a good property bargain... Such an approach takes into consideration the client's overall financial situation, including funds, property, legal and fiscal aspects, as well as inheritance prospects.

Financial investments

Belgian private bankers use two types of management: advisory management and discretionary management. The former involves helping the client, but he is the one who ultimately decides whether to invest. In discretionary management with mandate, it is their private banker who, after having determined the client's profile, manages the client's assets independently.

At which price?

It is difficult to say, for those managing patrimony have a sliding scale depending on the assets being managed and the relationship they have with their clients. On the whole, one should allow around 0.5 % commission on the assets managed and add 0.1% custody fees as part of advisory management and 0.4% plus 0.1% when dealing with discretionary management.

We should also mention that in Belgium is a real fiscal paradise for foreigners who have decided to live here, for there is no tax on any gains made on stocks and shares, nor wealth tax.