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Some private banks to charge the rich if accounts fall below financial threshold
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UBS is reportedly imposing a US$5,000 (S$6,700) relationship fee on private banking clients with less than US$2 million in invested assets.
PHOTO: REUTERS
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SINGAPORE – Some private banks will start charging their clients fees if their assets under management fall below the financial threshold to hold an account.
The Straits Times understands that UBS, the world’s largest wealth manager, will impose a US$5,000 (S$6,700) relationship fee on private banking clients with less than US$2 million in invested assets.
