Giles Wade’s Swiss deal ‘compelling’ for clients
Private clients of Melbourne-based boutique advisory firm, Giles Wade, will gain access to a wider range of offshore investment options through a partnership with Bonhote Bank Switzerland.
Gile Wade managing director, Andrew Coloretti, said the deal, which has been approved by the Swiss regulator, would enable the firm to provide direct access to offshore assets at competitive rates, while also benefiting from the Swiss bank's research capabilities.
Coloretti said the partnership created a "compelling" offer for clients.
"Our model is non-platform, so the assets on our private client side is all retainer," he said.
"The solution that we're [now] able to provide our private clients at institutional rates with a direct mandate out of Europe is pretty compelling.
"For the high networth clients, who want to book assets or use a trusted custodian offshore in a first-rate jurisdiction… options are available, so from a risk management counterparty risk perspective it ticks a few boxes for us."
Coloretti said the partnership, which came about following an initial investment from Bonhote, would also strengthen Giles Wade's research capabilities, providing "invaluable" technical support.
AUTHOR
Nicholas O'Donoghue
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