Germany-based lender Deutsche Bank's wealth management division has announced the launch of an advisory service for HNW clients based in Hong Kong and Singapore.
DbXpert seeks to provide the German lender's clients with an asset allocation framework, scenario analyses and health checks for their portfolios. Deutsche Bank (DB) said its offering enables emerging markets clients to set up a portfolio that "bridges the gap between transactional advisory and wealth discretionary mandates."
The advisory service requires clients to have a minimum of $2.2m in their DB account, and will charge a fixed fee.
With dbXpert, we allow clients to directly and independently manage their portfolios while still leveraging our best thinking and systematic portfolio health checks approach.”
Lok Yim, head of Deutsche Bank wealth management, emerging markets said: "In Asia, discretionary portfolio management has traditionally been less popular than transactional advisory as clients like to retain control over their portfolios. With dbXpert, we allow clients to directly and independently manage their portfolios while still leveraging our best thinking and systematic portfolio health checks approach."
Wei Mei Tan, DB's emerging markets head of advisory and investment solutions, told Citywire Asia: "Regulators are focusing on the independence of advice. Private banks are making sure that we are showing ideas, and that we are not incentivised purely by trailer fees or retrocessions."
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