Financial planning support for private banks & relationship managers
Private banks and relationship managers often sit at the centre of a client's financial life, but internationally mobile clients can create planning issues that extend beyond the bank's core proposition.
A client may hold UK pensions, US retirement accounts, investments across several jurisdictions, concentrated business wealth or complex estate and beneficiary arrangements.
Josh Clancey works alongside private banks and relationship managers where the client needs broader cross-border financial planning around retirement, pensions, investments, liquidity or internationally held wealth.
Complementing the existing private-banking relationship
The objective is not to displace the bank or relationship manager.
Josh can become involved where the client needs financial planning that sits alongside the banking, custody, lending or investment-management relationship already in place.
That may include:
- retirement planning
- UK pension analysis
- US retirement accounts
- cross-border cash-flow modelling
- business-sale planning
- concentrated shareholdings
- beneficiary and estate coordination
- protection planning
- investment strategy across several jurisdictions
- planning before a move or repatriation
The bank or relationship manager can continue to manage the parts of the relationship that remain within their remit.
Client situations where private banking and financial planning commonly intersect
A client holds significant assets across several countries
The bank may manage part of the wealth while pensions, retirement accounts, property or other investments sit elsewhere.
A business owner is approaching a liquidity event
The client may have a long-standing banking relationship but still need a personal financial plan around retirement, investment and family wealth once the transaction completes.
A client has a concentrated shareholding
Significant exposure to one company may arise through business ownership, executive compensation or long-term employer shares.
A client has UK pensions but lives overseas
The private bank may manage liquid assets while the client's pension arrangements require separate retirement and beneficiary planning.
A client has US retirement accounts
401(k)s, IRAs and Roth IRAs may need to be coordinated with assets managed outside the US.
A client is preparing for retirement
A private-banking portfolio may be only one component of a wider retirement plan involving pensions, property, business interests and assets in different currencies.
Questions that may indicate a wider financial-planning need
Does the bank see the client's full financial position?
Pensions, retirement accounts, property and business interests may sit outside the banking relationship.
Is the client approaching a major transition?
Retirement, a business sale, relocation or inheritance can materially change the role of the existing portfolio.
Does the client have assets that require specialist cross-border input?
UK pensions, US retirement accounts or internationally held investments may need separate analysis.
Is the investment strategy connected to the client's actual cash-flow needs?
A portfolio can be well managed while still sitting outside a coherent retirement or spending plan.
Are beneficiaries or family members in different jurisdictions?
Investment, pension and estate decisions may need to be coordinated.
Is the client heavily concentrated in one asset or company?
The wider plan may need to address liquidity and diversification alongside tax or legal advice.
Is the client likely to move country?
Future residence can affect investments, account access, retirement income and practical implementation.
Professional resources for private banks & relationship managers
The Document Centre includes technical briefs, professional guides and practical checklists covering international retirement, UK pensions, US retirement accounts, business exits, concentrated share positions, cross-border estate planning and internationally mobile clients.
Useful resources for private banks & relationship managers
The Professional Adviser's Guide to Cross-Border Financial Planning
A broad guide to the main financial-planning issues that can arise where assets, pensions, residence and retirement span jurisdictions.
The Professional Adviser's Guide to International Retirement Planning
A broader guide covering pensions, investments, cash flow, currency and future residence.
Financial Planning Before and After a Business Sale
A technical brief covering the personal planning issues surrounding a major liquidity event.
Concentrated Share Positions for International Clients
A focused technical brief on diversification and wider planning where significant wealth is tied to one company.
The Professional Adviser's Guide to Cross-Border Estate and Beneficiary Planning
A professional guide to coordinating pensions, investments and beneficiaries across jurisdictions.
Cross-Border Referral Checklist
A practical checklist for recognising circumstances where additional cross-border financial-planning input may be useful.
From asset management to wider financial planning
A private bank may provide excellent custody, investment management, lending and banking services without necessarily holding responsibility for the client's entire financial plan.
That distinction becomes more important for internationally mobile clients.
For example, the managed portfolio may need to be considered alongside:
- UK pensions
- US retirement accounts
- business interests
- property
- future retirement spending
- assets held with other institutions
- estate and beneficiary arrangements
- currencies in which the client expects to spend
Cash-flow modelling can help connect these separate assets and test whether the overall position supports the client's objectives.
Working alongside the relationship manager
Josh can work with the client without undermining the existing private-banking relationship.
For example:
- the relationship manager continues to manage the banking and investment relationship, while Josh develops the wider retirement plan
- the bank manages liquidity after a business sale, while Josh models the client's long-term capital requirements
- the private bank manages liquid investments, while Josh reviews UK pensions or US retirement accounts held elsewhere
- the bank supports the client's international banking needs, while Josh coordinates retirement cash flow and future residence planning
- the relationship manager remains the principal contact, with Josh involved only where specialist cross-border planning is required
Josh does not provide banking, lending, tax or legal advice outside his professional remit.
Where a financial recommendation depends on tax, legal or other specialist advice, the relevant professional should establish that position first.
Technical briefings for private banking teams
Josh can provide focused briefings for relationship managers, private banks and wealth teams working with internationally mobile clients.
Topics can include UK pensions, US retirement accounts, business exits, concentrated shares, international retirement and cross-border estate coordination.
Have a client case you would like to discuss?
If a private-banking client has pensions, retirement accounts, business interests or international assets that sit outside the normal banking proposition, an initial discussion can help establish whether additional financial-planning input would be useful.
There is no requirement to make a formal introduction simply to determine whether the case falls within Josh's remit.