Debunking the Myths Created by Bankers and Wealth Managers

Myth: Independence!

The independence of bankers and wealth managers has been a myth for years, as they face mounting pressure to sell commission-based financial products. By 2001, these suspicions were confirmed when the second client to sign up for my new independent financial control of wealth service was the owner of a private bank. The fact that a private bank owner sought independent advice from an outsider – and was willing to pay for it – indicated a serious problem within the industry.

Many high net worth individuals and families have been aware of the misalignment between bankers, wealth managers, and their clients, but they still require professional assistance. Historically, billionaires have engaged trusted advisors who are accountable to the economic beneficiaries to help manage their wealth, rather than relying solely on private bankers. Nowadays, more people are beginning to understand the value of taking control of their finances.

Members of PWFO Swiss Certified provide private clients and families with the financial control they need to take charge of their wealth. If you’re interested in learning more about how to be inspired to service private clients and families, visit for a library of free articles and posts.

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