Santander to launch Private Banking proposition
Santander UK has confirmed that it will launch a Private Banking proposition later this year, providing bespoke Private Banking solutions for clients who have £500,000 in savings or investments and/or an annual income of £250,000.
Clients will have access to a dedicated private banker, who can provide advice and access to a range of services across Santander's banking, lending, investment and financial planning products.
Alongside this, clients will have access to the Bank's online banking services and support from specialist contact centres.
Santander also announced that a discretionary investment management offering will "be available in due course".
The move comes as part of Santander's dedication to providing face-to-face advice. Other high-street banks have recently cut adviser numbers, with RBS replacing around 220 investment advisers with a robo-advice platform.
Recent research from online investment site True Potential Investor found that Savers will limit their use of robo-advice to investments under £1,000.
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