The impact of succession on the work of private banking
Marco Rodrigues, developer business, BBVA in Portugal.
“Younger investors tend to be more informed and there are studies that prove that they are the ones who seek the most advice”
For Marco Rodrigues This one it’s a delicate topic for a private bank. The theme of succession comes at an older age of customers, on average around 66 or 67 years old. At this age, “it is natural for investors to obtain returns in lower risk assetswhich has not proved to be an easy task in recent years in a prolonged environment of negative interest rates”.
The staff member of BBVA in Portugal he said, however, that he believes there are opportunities since younger investors tend to be more informed and there are studies that prove that they are the ones who seek the most advice. “They are technologically more evolved and are more aware of issues related to sustainability”, he says.
On the other hand, changing hands of equity will put greater pressure on rates. According to the professional, the availability of participation unit categories with lower fees is already reflected in the offer of banks depending on the amount invested.
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