Strategy
Canadian Bank Launches HNW Product And Service Suite
The wealth-management division of Montreal-based National Bank of Canada is pushing a suite of private-client products and services to investors with investable assets of at least $930,000 - that is, $1 million in Canadian funds.
National Bank's "Private Wealth 1859" line, available through the
bank's 3,000 or so financial advisors, is a funnel for products
such as investments, insurance and financial reports, and a range
of services that include private-banking, trust, concierge and
tax and estate planning.
The significance of 1859 is straightforward enough: in that year
a group of Francophone businessmen founded National Bank - or
Banque Nationale du Canada as they called it - as a foil
to Anglo-dominated financial institutions.
National Bank says the Private Wealth 1859 platform is "based on
the preferences expressed by affluent clients" and "prefers a
conservative approach that aims to preserve principal and ensure
its long-term growth."
