Investment clients often require banking services to manage cash balances that aren’t tied up with their other investments.
Our banking services are an efficient addition to a full-service portfolio and are available to existing clients only. Your investment manager effectively acts as your ‘bank manager’, giving you access to cash management and payments, foreign exchange, loans and overdrafts. We don’t issue debit or credit cards nor do we provide mortgages. The service is run conservatively and securely, backed by the capital of the Smith & Williamson group.
The value of investments and the income from them can fall as well as rise and you may not receive back the original amount invested.
Meeting your needs
You will have access to deposit accounts in all major currencies. We also offer competitive foreign exchange services and electronic payments.
Cash requirements can change so it’s important to have access to a service that meets your needs quickly and efficiently. We offer short-term loans and overdrafts to existing clients for a variety of circumstances, from investing in a private company to home financing, bridging loans or probate assistance.
Our banking services are available free of charge to all existing investment management clients and are regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).
How we can help
- Private bank accounts: Current, call deposit and fixed deposit accounts in sterling and major foreign currencies. Interest is calculated by reference to the base rate for the relevant currency.
- Electronic payments: Offered in the UK and internationally, although we don’t issue debit or credit cards.
Chequebooks: For use on UK-based sterling current and interest-bearing deposit accounts only.
- Foreign exchange: Offering competitive rates both on a spot (standard settlement) and forward (non-standard settlement) basis.
- Loans and overdrafts: Flexible short-term financing for immediate cash requirements, normally secured against your investment portfolio and with interest charged at a percentage over the Royal Bank of Scotland base rate.
- Statements: Issued quarterly or monthly, and including a full narrative description of transactions.
Advising high-net-worth families for over 120 years – our first-ever family client is still a client today, demonstrating our ability to build lasting relationships that stand the test of time.
Low staff turnover allows for the continuity of client/adviser relationships across the generations.
Over 12,000 private client investment portfolios ranging from £500,000 to over £10 million.
Value for money
94% of clients rate us as excellent or above average in terms of the value of the service we provide.
Your eligible (UK only) deposits with Smith & Williamson Investment Services Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK’s deposit guarantee scheme. Any deposits you hold above the £85,000 limit are unlikely to be covered.
Capital at risk. The value of investments and the income from them can fall as well as rise and you may not receive back the original amount invested.