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Note: You may wish to make a copy of this to ask about at your exchange apt. Not all may fit your personal situation...
LC: REVISED LIST OF BANK PERKS & BENEFITS
1. No fees ever for foreign currency exchanges
2. Provide a Private Banker/Wealth Manager at the time of exchange to initially park the funds in an overnight high yield interest rate account that will yield a minimum of 1% per month.
3. Family Office & Philanthropic Investment Management Services
4. Perks can be based on (Assets Under Management) AUM in a tier grid
5. Discounts on AUM fees
6. No fees ever - no fee to all domestic/foreign deposit/wire transfer money
7. No Broker fees ever
8. Free Safe Deposit Box, Certified Checks, Notarized, Courier Services and provide storage for metals (i.e. gold, silver & etc) and waive any storage fees.
9. Provide Excess Deposit & Cyber Fraud Insurance (i.e. Lloyds of London)
10. Provide Senior Wealth Managers/Investment Bankers for selection
11. Tax/Business/Estate Attorney & CPA
12. Private transactions representation –assistance in buying a house/car/anything
13. Free Due Diligence Services provided for outside investment opportunities
14. 100% funding availability
15. Unlimited Platinum or Black Visa Signature Debit & Credit Card with no ATM fees
16. Provide discounted interest rates for all types Loans, Leases & Line of Credit
17.Group Health Insurance - to cover the signers and families of depositors
18. Guarantee 12-15% interest per year on deposits to share in bank profits made from deposits
19. Overseas Bank Trading Platforms by invitation & Repurchase Agreement Sweep Accounts
20.Short Term/High Yield Interest Rates
21. Provide Multi-Currency Accounts with Debit Card, Offshore Foreign Currency Time Deposits and assist in opening an offshore bank account with affiliate bank for foreign investments
22. Access to "invitation only" to great investment opportunities (domestic & international)
23. Pre-IPO deals
24. Provide free Executive Privacy Plus subscription with Reputation.com
25. Sports tickets in suites and on the floor (Football, Basketball, Baseball, Boxing, Tennis, Golf, NASCAR & etc.) Also, special events like the Super Bowl, NBA Finals, College Bowls, NCAA Final Four, World Series & the Olympics. Based on AUM in a tier grid
26. Entertainment & Concert tickets in suites and on the floor (Music Concerts, Entertainment Awards Shows, Premier Movie Screenings, TV Show tickets & etc.) Based on AUM in a tier grid
27. Limousine & VIP transportation based on AUM in a tier grid
28. Private Jet Travel (5-25 flight hrs. per mo.) based on AUM in a tier grid on flight hours per month
29. First Class seats/commercial airlines based on AUM in a tier grid
30. Private Yacht access/usage (40 hrs. annually) based on AUM in a tier grid on access/usage hours per year
31. Donations to our favorite charities (Banks matching a certain percentage)
32. Prime seats at charity events
33. Suites at Luxury Hotels & VIP Dinners at Restaurants based on AUM
34. Membership fee & Annual fees to Inspirato Core resorts & residences
35. Membership fee & Annual fees to Exclusive Resorts & Residences for 60 days with Priority Holiday Access annually
36. ClubCorp Private Membership based on AUM
37. Spa & Massage Club Membership based on AUM in a tier grid
38. Concierge Services 24/7 based on AUM
39. Provide a free Google Pixel C 10.2 Tablet 64 with keyboard & Solarin Fire Black Carbon DLC cell phone & concierge subscription service for members with $1 million and over AUM
40. Free Family Financial Education provided for group family members
41. Provide any and all other perks that was not mentioned
AUM - Assets Under Management
Global Leader Risk Mitigation & Response www.Kroll.com
Luxury Destination Clubs www.Inspirato.com www.ExclusiveResorts.com
Private Business Club www.ClubCorp.com
(Note: This post is for informational purposes only. It is not legal, tax or investment advice. Everyone should do their own due diligence and seek local Professional tax, legal and/or investment advisers.)
3/19/2018 09:28:55 am
The Majority, if not 99% of these "Perks" are pathetic.
I'd be embarrassed walking into a Bank, sitting across from a Professional,. and spewing out these "demands".
You've got to be kidding me with this list.
I work in Banking, and I just shared these "demands" with my fellow co-workers... ""Many are still on the floor laughing""
Truth be told, IF I had a client walk into my Bank, and started making these ridiculous demands, I'd be more than happy to show them to the door!
3/19/2018 06:34:48 pm
Just curious... Are you are any of your friends Senior Wealth Managers? If not, then how would you even know which of these "perks" might be offered to a client with hundreds of millions of dollars - or more - whose business the bank desperately wants to keep? Particularly when these wealth managers undoubtedly have to sign NDAs regarding such a client's business dealings?
That said, I do think a lot of these items seem pretty trivial, low-priority, or inappropriate to ask for when first setting up temporary accounts at the exchange appointment. Some of them could definitely be deal-breakers for me to receive if the bank is expecting to use MY money long-term. Banks are businesses and they can't operate without customers' money - and ALL banks know this. Only clients WITH that huge wealth would even have the nerve to ask for some of these benefits - and I would imagine most bankers would be falling all over themselves to comply rather than lose the business of a billionaire.
3/19/2018 09:38:32 am
A Fool and his money are soon parted!
IF you walk in demanding any of these, your wealth will be short lived.
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I would not worry about it Paul, no fools or otherwise are going to see any money anytime soon ...
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