How often to you meet your banker? Is it as painful as visiting the dentist for you? Does he treat you well and do you trust him? We have listed a few topics to consider for your next meeting as kind of a personal check list. This list if of course not fully complete but will provide you with first insights to check out your banker's attitude and willingness for transparency.

If you agree with one or more of the following statements, it is worth reconsidering the strategy of your portfolio and how your banker has advised you: 

  • You do not understand the market behaviour of one or more investments in your portfolio.
  • Supposedly safe investments have suffered considerable losses.
  • Your contact person changes at short intervals and no longer enjoys your trust.
  • Your advisor will contact you always whenever he wants to sell you a new product.
  • In difficult stock market situations, on the other hand, you are left alone just as often as your are left alone with demanding questions about the market, investments, investment strategy or pricing.
  • Your account contains at least one investment that bears the name of your bank or asset manager (we refer to the question if the bank has sold you their own products, like DWS funds from Deutsche Bank or UBS or Credit Suisse Funds from UBS or Credit CS)
  • You wonder whether your portfolio is also equipped to cope with times of crisis.
  • Overall, you are not satisfied with the performance of your investment portfolio or have no indication whether the bank or the asset manager has achieved a better or worse result than your friends, an estimated yield or your benchmark you folio
  • Your custody account contains at least one investment that bears the name of your bank or asset manager.
  • You do not know the total fees (TER) that your bank charges in addition to the open custody account and transaction fees (hidden costs).
  • You have not made a separate agreement on so-called retrocessions (kick-backs) with your bank or asset manager. If such an agreement exists, you do not know what percentage and in what period of time possible retrocessions will be passed on to you.
  • You do not know whether expensive retail products with higher costs or better institutional products were used for your certificates, funds or fund-of-funds. 
  • You wonder whether your portfolio is also equipped to cope with times of crisis.
  • You do not know the weighting of the regions and currencies in which you are invested.
  • You do not know the weighting of the investment styles (Growth, Value, Blend, Small Caps, Mid Value etc.) in which you are invested.
  • You do not know the rating structure of your bonds (investment and non-investment grade)
  • Your bank only provides you with a single performance figure for the entire portfolio and no performance attribution at the level of each asset class.
  • Overall, you are not satisfied with the performance of your investment portfolio or have no indication whether the bank or the asset manager has achieved a better or worse result for you in relation to an objective, weighted benchmark (e.g. 50% Barclays Euro Aggregate 1-10Y, 50% MSCI World USD in Euro) and peer group.
  • You are so busy at work or at home that you can spend less than two hours a week on your investments.