While private banking and wealth management are often used interchangeably, they differ in scope, services, and target audiences.



Private banking typically caters to ultra-high-net-worth clients, offering personalized service with high entry requirements. Wealth management, on the other hand, is broader—accessible to affluent clients with smaller asset bases.

  • Private Banking: Exclusive, relationship-driven, includes concierge, bespoke investment, estate planning.
  • Wealth Management: Focused primarily on financial planning, portfolio growth, and retirement solutions.

In Singapore, both services thrive, but the distinction helps individuals choose based on their financial capacity and lifestyle expectations.

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Sophia Tan

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Marks Toms – Editor-in-Chief
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Disclaimer:The BankOpen Singapore Editorial Team consists of financial analysts, banking industry professionals, and experienced writers. We are dedicated to providing accurate, up-to-date, and practical insights to help readers navigate Singapore’s banking landscape and make informed financial decisions. The information provided in this article is for general informational purposes only and does not constitute financial, investment, or legal advice. Always consult with a qualified professional before making any banking or investment decisions.