[artlgnc_builder_page_section id=’rpsS38KK9OLD5BNPWOX631DGG4RKHUN63DO’ first=’true’ last=’true’ section_name=’Section’ zindex=” layout=’default’ row_gutter=’default’ section_dom_id=” classes=” layers=” background_opts=” background_color=” background_opacity=’100′ background_image=” background_image_thumb=” background_position=” background_cover=” background_repeat=” background_attachment=” background_gradient_dir=” start_gr=” end_gr=” margintop=” marginright=” marginbottom=” marginleft=” ][artlgnc_builder_page_container id=’rpcPSLNCHO8BNCE3RKBTYFYOSAS1M6VJYQD’ layout=’full’ first=’true’ last=’true’ top=’true’ use_animation=’false’ animation=’none’ animation_duration=’0.5′ animation_delay=’200′ classes=” section_dom_id=” float=’left’ visibility=” background_opts=” background_color=” background_opacity=’100′ background_image=” background_image_thumb=” background_position=” background_cover=” background_repeat=” background_attachment=” background_gradient_dir=” start_gr=” end_gr=” 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]%3Cp%3EOn%2012%20October%202021%2C%20Quintet%20Private%20Bank%20announced%20that%20it%20was%20discontinuing%20its%20business%20activities%20in%20Switzerland.%20The%20move%20comes%20as%20no%20surprise.%20A%20private%20bank%2C%20like%20any%20other%20company%2C%20needs%20a%20clearly%20differentiated%20offering.%20It%20is%20about%20offering%20potential%20clients%20real%20added%20value%3A%20Something%20they%20don&squot;t%20get%20with%20most%20other%20providers.%20During%20Quintet&squot;s%20short%20period%20of%20activity%20in%20Switzerland%2C%20there%20was%20never%20even%20a%20hint%20of%20a%20convincing%20positioning.%20The%20bank%20wanted%20to%20present%20itself%20as%20trustworthy%2C%20but%20provided%20no%20credible%20reasons%20as%20to%20why%20it%20should%20be%20more%20trustworthy%20than%20others.%3C%2Fp%3E%0A%3Cp%3E%C2%A0%3C%2Fp%3E%0A%3Ch2%3EBuying%20Client%20Portfolios%3C%2Fh2%3E%0A%3Cp%3EThe%20company%20entered%20the%20market%20by%20acquiring%20an%20existing%20bank.%20There%20is%20nothing%20wrong%20with%20that.%20However%2C%20growth%20was%20sought%20through%20the%20purchase%20of%20relationship%20managers%2C%20who%20were%20to%20bring%20their%20clients%20with%20them%20from%20their%20previous%20employers.%20This%20%22growth%20model%22%20is%20still%20widespread%20in%20Swiss%20private%20banking.%20It%20demonstrates%20one%20thing%20above%20all%3A%20a%20contempt%20for%20clients.%3C%2Fp%3E%0A%3Cp%3EClients%20are%20seen%20as%20a%20profit-making%20shiftable%20mass.%20Relationship%20managers%20and%20their%20employers%20work%20with%20competing%20goals.%20Both%20try%20to%20maximize%20customer%20loyalty.%20When%20a%20relationship%20manager%20leaves%20a%20bank%2C%20there%20is%20a%20showdown%20over%20customer%20loyalty.%20The%20customer&squot;s%20needs%20are%20the%20last%20thing%20that%20matters%20here.%3C%2Fp%3E%0A%3Cp%3EThe%20business%20model%20described%20above%20is%20only%20possible%20if%20investors%20have%20no%20alternative%20up%20their%20sleeves.%20The%20lack%20of%20transparency%20in%20Swiss%20private%20banking%20makes%20it%20difficult%20for%20bank%20clients%20to%20identify%20a%20top%20provider%20that%20suits%20their%20needs.%3C%2Fp%3E[/artlgnc_builder_page_widget][/artlgnc_builder_page_container][artlgnc_builder_page_container id=’rpcBARCW6IHKJ29NY6X7NI6R1Q5XIV3UF7E’ layout=’full’ first=’true’ last=’true’ use_animation=’false’ animation=’none’ animation_duration=’0.5′ animation_delay=’200′ classes=” section_dom_id=” float=’left’ visibility=” background_opts=” background_color=” background_opacity=’100′ background_image=” background_image_thumb=” background_position=” background_cover=” background_repeat=” background_attachment=” background_gradient_dir=” start_gr=” end_gr=” margintop=” marginright=” marginbottom=” marginleft=” ][artlgnc_builder_page_widget id=’rpwIT7LXONOHMF1K4DWFEDVO66JS01D1DU7′ type=’artlgnc_builder_cta_widget’ last=’true’ top=’true’ type=’artlgnc_builder_cta_widget’ text_title=’Are%20You%20Looking%20For%20a%20Suitable%20Wealth%20Manager%3F’ text_subtitle=’%20′ cta_text=’%3Cul%3E%0A%3Cli%3EWe%20provide%20independent%20and%20transparent%20advice.%3C%2Fli%3E%0A%3Cli%3EWe%20find%20the%20best%20provider%20for%20you.%3C%2Fli%3E%0A%3Cli%3EWe%20compare%20costs%20and%20returns%20for%20you%20free%20of%20charge.%3C%2Fli%3E%0A%3Cli%3EMinimum%20investment%20CHF%20500&squot;000.%3C%2Fli%3E%0A%3C%2Ful%3E’ cta_portrait=’4346′ image_description=’Matthias%20Hunn%2C%20Founder%2C%20FinGuide%20AG’ rich_key=’artlgnc_builder_tab’ cta_style=’center’ at_icon=” animation_selector=’parent’ use_animation=” animation=’none’ animation_duration=’0.5′ animation_delay=’200′ title_font_color=” title_font_font_size=” title_font_font_family=” title_font_font_weight=” title_font_line_height=” subtitle_font_color=” subtitle_font_font_size=” subtitle_font_font_weight=” icon_color=” button_text_color=” button_background__color=” button_border__color=” button_border__width=” button_font_size=” button_border_radius=” button_text_color_on_hover=” button_background__color_on_hover=” 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type=’artlgnc_builder_text_widget’ last=’true’ top=’true’ type=’artlgnc_builder_text_widget’ col_style=’none’ ov_title=’yes’ text_title=” text_title_heading_tag=’h2′ text_subtitle=” text_subtitle_heading_tag=’h3′ rich_key=’text_data’ col_link=’none’ custom_link=” video_link=” image_link=” button_label=’More’ icon=” icon_hidden=” col_align=’left’ use_animation=” animation=’none’ animation_duration=’0.5′ animation_delay=’200′ animation_selector=’parent’ title_font_color=” title_font_font_size=” title_font_font_weight=” subtitle_font_color=” subtitle_font_font_size=” subtitle_font_font_weight=” text_font_color=” text_font_font_size=” text_font_font_weight=” button_text_color=” button_text_color_on_hover=” rich_key=’text_data’ ]%3Ch2%3EClients%20Can%20Take%20Action%3C%2Fh2%3E%0A%3Cp%3EWhat%20is%20the%20alternative%3F%20There%20are%20fair%2C%20high-performance%20providers%20in%20Swiss%20private%20banking%20that%20grow%20thanks%20to%20their%20services%20and%20not%20by%20buying%20in%20relationship%20managers%20and%20their%20portfolios.%20But%20for%20this%20to%20work%2C%20investors%20need%20information%20to%20find%20these%20providers.%20This%20is%20exactly%20why%20FinGuide%20exists%3A%20We%20help%20investors%20to%20find%20a%20provider%20that%20best%20meets%20their%20needs.%20This%20means%20that%20clients%20can%20decide%20for%20themselves%20whether%20they%20end%20up%20with%20a%20fair%2C%20high-performing%20provider%20or%20a%20weak%20one.%3Cbr%20%2F%3EFor%20the%20Quintet%20Private%20Bank%20employees%20affected%2C%20the%20bankruptcy%20is%20a%20bitter%20blow.%20It%20remains%20to%20be%20seen%20how%20things%20will%20turn%20out%20for%20clients.%20In%20all%20probability%2C%20Quintet%20will%20try%20to%20sell%20its%20client%20base%20and%20thus%20extract%20money%20from%20the%20%22shiftable%20mass%20of%20clients%22%20one%20last%20time.%20If%20they%20allow%20it%20and%20don&squot;t%20go%20looking%20for%20an%20alternative%20themselves.%3C%2Fp%3E%0A%3Cp%3EWe%20also%20recommend%20our%20article%20on%20the%20topic%20%3Ca%20title%3D%22Which%20One%20Is%20the%20Best%20Private%20Bank%20in%20Switzerland%3F%22%20href%3D%22https%3A%2F%2Fwww.finguide.ch%2Fen%2Fwhich-one-is-the-best-private-bank-in-switzerland%2F%22%3E%3Cstrong%3Ebest%20private%20bank%3C%2Fstrong%3E%3C%2Fa%3E%20in%20Switzerland%20or%20%3Cstrong%3E%3Ca%20title%3D%22Wealth%20Management%20in%20Switzerland%22%20href%3D%22https%3A%2F%2Fwww.finguide.ch%2Fen%2Fwealth-management-in-switzerland%2F%22%3EInvesting%20Money%20in%20Switzerland%3C%2Fa%3E%3C%2Fstrong%3E.%3C%2Fp%3E%0A%3Cp%3EIf%20you%20are%20looking%20for%20the%20right%20provider%20for%20you%2C%20we%20will%20be%20happy%20to%20help.%20You%20can%20find%20out%20more%20about%20our%20free%20advisory%20services%20on%20our%20%3Ca%20href%3D%22https%3A%2F%2Fwww.finguide.ch%2Fen%22%3E%3Cstrong%3Ehomepage%3C%2Fstrong%3E%3C%2Fa%3E.%3C%2Fp%3E[/artlgnc_builder_page_widget][/artlgnc_builder_page_container][/artlgnc_builder_page_section]
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