SocGen opens wealth platform to intermediaries
Société Générale Private Banking Hambros has encroached further into the wealth management sector by introducing a platform that allows intermediaries to access its investment and private banking services for high net worths.
The Wealth Partnership Service will be made available to a limited number of wealth managers, family offices and high net worth IFAs.
The Swiss bank plans to offer its lending, FX, fiduciary and portfolio management services to intermediaries, previously only available to its own clients.
Prompted by the Retail Distribution Review undertaken by the FSA, the move symbolises a move toward greater transparency and openness in the sector.
The bank said the introduction of the service was a response to demands from the wealth management community.