External Asset Management Account in Monaco: Remotely, for a Set-Up Fee

Banks in Monaco are committed to the exclusive blend of exceptional products, high-quality service, and availability of customized offers to international clients. An opportunity to open an external asset management account in Monaco can be particularly appealing to those seeking to protect their savings and enjoy the bank’s personalized support. We can recommend several Monegasque banks and help you in setting up such an account. This article is introducing one of the most attractive options. 

A minimum deposit of 500,000 EUR/CHF/USD is required to open the account. You do not need to come to Monaco, the account will be opened remotely after a telephone interview.

This type of account is not intended for active business, it is focused on wealth management, protection, and savings growth. By opening an account with external asset management in Monaco, you will have access not only to all products and services of the bank but also to all the advantages of working with an external asset manager.

What advantages does an external asset management account offer?

An external asset manager (also called an independent asset manager or a wealth manager) is an independent expert who communicates with the bank on behalf of the client and resolves any issues in the client’s interest. The external asset manager is not affiliated with the bank in any way and is not interested in selling any banking products or services to you as a client. On the contrary, if it is in your interest, the external asset manager will recommend another bank or external service provider.

The client holding such an account receives the following benefits from the fact that the external asset manager communicates with the bank on his/her behalf:

• all issues related to cooperation with the Bank are resolved promptly and professionally
• the process of passing the Due Diligence procedure and other bank inspections is simplified
• the external manager assumes some responsibility for the client’s compliance with anti-money laundering legislation
• the customer can open accounts with other foreign banks remotely, quickly and at a reduced price
• the customer can quickly close an account and redistribute assets to other jurisdictions in the event of an unfavorable situation
• the banking status of the client gets upgrading
• the account maintenance costs get reduced
• the client gets exclusive access to additional products, services, and bonuses.

As the client gets the maximum access to the banking expertise, including advice provided by the external managers and private bankers, this twofold service – from the bank and the external manager – generates very favorable opportunities:

• the client gets simultaneous access to research results and analysis from two parallel sources of expertise, thereby being able to form a holistic picture and make well-balanced investment decisions
• the risk of error is kept to a minimum thanks to the double verification of each transaction
• the service is available even outside the bank’s working hours
• the concentration of professional knowledge and skills is in the interests of the client
• the maximum possible choice of products and services is available to the client, including comprehensive solutions for different family needs.

By opening an external asset management account, you get the 360-degree protection of your interests against any odds. 

The recommended bank in Monaco

The bank we recommend to you hereby was founded nearly a century ago as a daughter company of a well-reputed private bank. It has gradually developed into a banking services popular and then the 2nd largest bank in Monaco in terms of total assets, with a wide network of customers from other countries. 

We recommend this bank specifically because it provides private wealth management services of high-quality to private or institutional investors, corporations, and professionals. Among this bank’s clients are also associations, foundations, and institutions. The bank’s multi-disciplinary and deeply specialized teams in Monaco work with UHNWI, their families, entrepreneurs, and external asset management companies to advise them on how to manage, protect, and transfer their wealth. 

This bank’s Wealth Management division provides simple, long-term solutions that are tailored to your specific circumstances, help you protect, multiply, and pass on your wealth. 

Wealth Structuring 

Wealth structuring is one of the main activities and strengths of this bank. It can be compared to an individual detailed construction design needed before a luxury property is built.

This bank does not offer any standard structure. Each client is unique for the bank, so in each case only truly valuable bespoke solution is designed after a complete and detailed acquaintance with the client’s situation, limitations, and aspirations.

With this fundamental understanding, the wealth manager, supported by experts in wealth structuring and investment, proposes an individual open-architecture strategy.

Once the foundation has been laid, the strategy will continue to evolve: the bank’s specialists will keep monitoring changes in local and international regulations and make the necessary adjustments, especially related to important aspects of your life.

The bank is committed to ensuring that our wealth management strategies are long-term and do not miss out on development opportunities. In turbulent economic and political times, the prudence shown by the bank in its wealth structuring activities fully justifies the trust of clients.

The structure of your assets will be designed and adjusted by the dedicated team of experts with knowledge of the following fields:

•  wealth structuring
•  corporate finance
•  complex credit structuring
•  Philanthropy.

Investment prospects

To protect and grow your fortune over time, the bank’s Wealth Management team provides ongoing support throughout the investment cycle. Based on the research results, the bank’s specialists offer personalized asset allocation options tailored to your needs, using a flexible investment approach, strict criteria for selecting diversified investment solutions, and direct access to the markets, products, and scalable services of the bank.

According to the experts of the bank, the best investment strategy is always the one that is tailored to the specific client. Therefore, the whole process always starts with the study of individual goals and risk tolerance.

Before finalizing the investment strategy, the Wealth Management experts will offer you various investment options, depending on how actively you want to participate in the investment process.

You can delegate investment management through a mandate for discretionary portfolio management, advisory services, or direct access to markets and investment solutions.

Discretionary portfolio management

Depending on your country of residence and your general outlook on wealth management and investment, and to meet all your needs the bank can offer different types of investment mandates:

• investment mandates, providing internationally diversified portfolios tailored to the client and its risk profile
• individual investment mandates or bespoke investment funds that invest in a variety of assets to fully meet your needs and take into account all individual constraints
• thematic investment mandates focused on absolute return (prudent management with capital protection for 12 months) or flexible management (merging capital protection for 5 years with a commitment to return)
•  region-specific mandates (e.g. Asia and Latin America).

Advisory services

The bank’s financial market specialists will share their expertise in various asset classes (stocks, bonds, commodities, and all related derivatives) in all major markets around the world.

Advisory teams will regularly propose investment strategies and ideas based on the bank’s global research and taking into account your profile and investment objectives. You will receive regular publications reflecting the professional opinion of the state of the markets. The useful information contained in these publications will help you make investment decisions. 

The bank’s consultants are directly linked to financial markets around the world and provide the best-in-class, accurate, and timely delivery of orders from all time zones and most countries.

The Wealth Management team also offers its clients the opportunity to trade on stock or over-the-counter markets of shares, bonds, and derivatives in each of the main locations of the bank. 

Investment decisions

To diversify your investment portfolio as well as to offer an alternative to traditional investments such as stocks, bonds, and funds, the recommended bank offers a wide range of specialized solutions, including:

• investment funds – to build an optimally diversified portfolio with carefully selected external and internal funds
• structured products that allow taking advantage of market opportunities while maintaining control over risks
• forex and precious metals markets, with access, normally open only to professionals
• non-public shares – to take advantage of the growth potential of non-public companies
• real estate – for those who prefer to invest intangible assets
• insurance solutions to help you organize your property or protect against some risks.

The procedure of opening an External Asset Management account in Monaco

The procedure for opening an External Asset Management account in Monaco takes four steps:

First, make up your mind whether you would like to open an external asset management account in a bank in Monaco. If you need more information and/or our assistance, you should contact us by e-mail at info@offshore-pro.info to discuss with us the benefits of the recommended Bank and other options, your current needs and interests, and request our service.

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Together with your request, we need to get your answers to the following questions: 

Second, pre-pay our set-up service fee. The payment can be performed in the way convenient to you, for example: by bank transfer, by bank card, via PayPal, WebMoney, or Western Union. The fee is 1500 EUR.

Third, we’ll help you arrange an interview with a private banker and/or representative of a licensed asset management company (the interview is conducted over the telephone or messenger: Telegram, Skype, WhatsApp, Viber, etc.).

Finally, file all required documents and the application form for opening the account. At this stage, our experts’ comprehensive assistance is particularly useful.

Please note: after payment for our services, and before you fill in the blanks for opening an account with the recommended bank in Monaco, you can choose another bank from our list, if you decide it would better suit your goals and needs:

Switzerland:	Liechtenstein:	Monaco:	USA:	Singapore:	Dubai:
UBS	LGT*	ANDBANK	Morgan Stanley*	Bank of Singapore	Mirabaud
Credit Suisse	VP Bank	CMB*	JP Morgan	DBS	Mashreq
Pictet*	Volksbank*	CFM	Citibank*	OCBC	Noor
Julius Baer	BANK ALPINUM	Andorra:	Wells Fargo	J.SAFRA SARASIN	FAB
Vontobel*	BENDURA BANK AG	ANDBANK	Pershing/BNY	CITIBANK COMMERCIAL BANK SINGAPORE
Lombard Odier*	LIECHTENSTEINISCHE  LANDESBANK	CREDIT ANDORRA	Interactive Brokers	Hong Kong:
J. Safra Sarasin	Luxembourg:	VALL BANC		J.SAFRA SARASIN
Edmond de Rothschild (Geneva)	BANQUE DE LUXEMBOURG	Latvia:		Cyprus:
Rothschild Bank (Zurich)	EAST WEST UNITED BANK	BLUEORANGE		BANK OF CYPRUS
Corner Bank	Finland:	BANK M&M EUROPE
Bordier	EVLI BANK
CIM Bank	Germany:
Audi	VARENGOLD BANK AG
COUTTS BANK
FALCON PRIVATE BANK
VP BANK

Please note: we have marked with the asterisk (*) the most attractive banks recommended by our experts (in terms of willingness to do business, personnel, prices, parameters, platform, etc.).If you are ready to start today the procedure of opening an external asset management account in Monaco or another jurisdiction (with the recommended or another bank), please contact our experts by e-mail info@offshore-pro.info.