OREANDA-NEWS. December 04, 2007. With the growing demand for new non-standard solutions of personal finance and wealth management, private banking clients start looking for non-traditional forms of investing. Considering this, national commercial banks seek to offer clients with exceptional needs unique solutions on wealth and finance management tailored to individual or family situation, reported the press-centre of Ukio bankas.

“Ukio bankas Private Banking Department launched its services in the middle of October but we have already noticed the needs of our clients to invest funds in the fields still unusual in Lithuania as, for instance, in the harvest of grape plantations, cognac distilleries and wineries, which may yield profit, or simply in noble beverages. We are already searching for particular offers for our clients. Investments in art with the aim to acquire artworks not only in Lithuania but also abroad also receive client’s interest,” – Zivile Geralaviciute-Davodov, Ukio bankas Private Banking Department, said.

As maintained by her, such non-traditional investments require respective preparation – expensive artworks are often acquired and have to be stored in appropriate conditions. Private bankers help their clients acquire art collections, separate artworks and, in cooperation with specialists, provide consultations on various issues of investing in art.

In the words of Ukio bankas Private Banking Department director, not big funds are necessary for initial investments in art. For instance, to acquire an artwork in Lithuania one can start with LTL 10,000. In the meantime investments in such fields as wineries or cognac distilleries are much bigger and usually start from EUR 1 million.

It’s private banking services that the clients searching for unique investing forms may benefit from. The range of services offered to private banking clients covers not only standard banking services but also non-standard financing and investing solutions tailored to meet individual needs of every client as well as consultations on tax planning, real estate and legal issues. As a rule, private banking clients are persons having accumulated certain capital and its worth while using the services of “family bankers”, i. e. private banking specialists for its optimum management. In West European states, the share of private banking clients, on average, accounts for 5 to 7 percent of the total banking clients.

Representatives from Finter Bank Zurich (Switzerland), PricewaterhouseCoopers (Lithuania, Russia), Sindicatum Capital International (Lithuania), the Bank of Lithuania and Stasys Juskus’ Gallery will deliver reports on private banking situation and tendencies in Lithuania and the world at the Conference on Private Finance and Wealth Management on 4 December in Vilnius.
The conference’s main partner is Ukio bankas. Partners: The Economist. Pasaulis 2008 Metais, www.lrytas.lt news portal, Wrislit travel agency and the conference interpreters Metropolis Conference Interpreters.

More information on the Private Finance and Wealth Management Conference is available on the website www.vcc.lt.