Tan Kin Lian's Blog: Tips on investing SGD 1 million

Monday, October 01, 2007

Tips on investing SGD 1 million

Questions:

If you have more than SGD 1 million to invest, is it good to have a renown private institution to help you? Can I get a safe 8% return? What do you recommend I do?

MY REPLY:

Read this FAQ before you talk to a private banker.

http://www.tankinlian.com/faq/august.html

6 comments:

Anonymous said...: To be super safe, put in Fixed Deposit. Duration can be as short as 7 days and interest rate is slightly below interbank rate (change daily) but highly liquid and much better than the best bank board rates. And VIP treatment at bank.
For 8% return, possible but definitely long term and also no guarantee.
I think to qualify for private banking, must be at least US$1 mil, not S$1 mil. Some even required more than US$5 mil.; October 01, 2007 8:59 PM
Anonymous said...: You mean financially sound institution? Most financial institutions in Singapore are of minimum AA- rating. If you are looking for a private banker or an adviser you need to check his knowledge of finance, his areas of competence, trustworthiness, honesty, and his approach to your finance. A financial adviser or a private banker, both have not much difference as far as character traits are concerned except the products accessible to them.
Engaging a private banker from the investment Banks you have access to more alternative investment products.But today,there are alternative products or esoteric product or exotic products, whatever you call them, they are now available to ordinary investors too.So if you engage a good adviser I am confident that your finance and investment will be in good hand.
Of course don't engage an insurance agent. They will....??; October 01, 2007 10:06 PM
Anonymous said...: Getting 8% is not a problem if you get a qualified investment adviser to help put together a portfolio with that risk return profile.; October 02, 2007 8:30 PM
Thomas Phua's Blog said...: Those with more than $200k in bank, is treated as priority customer by most banks.

Heavy weights with one million to spare belongs to the private banker category?

What I noticed for priority banking, the relationship managers are also product pushers.

When you want to place a S$ fixed deposit, their face mostly went longer.

They are more keen that you take the bundle products, which involve unit trust and insurance, than only fixed deposits.

I exprience this with CITIBANK-CitiGold and DBS Priority Banking.; October 03, 2007 8:56 AM
Anonymous said...: For FD, even big amounts no need to bother those RMs lah. There is nothing in it(fees, charges etc)for them so don't be surprised by their attitude.The counter staff and 24 hour hotline is very good already.; October 03, 2007 8:42 PM
Thomas Phua's Blog said...: Priority customers have preferential rates over normal account holder.

Example, DBS FD is 1.7%, and if u are priority banking customer, your placement has preferential rate above 2%.

CitiBank, can place via phone with RM.

This is the service provided for those with higher deposit. Drinks are served while paper work is done for you, no queueing.; October 04, 2007 7:52 PM