More to wealth than accumulating

Relationships with most financial advisers or relationship managers tend to be rather transactional.

The customer indicates the type of investments that the customer is interested in, and the adviser provides a few recommendations after spelling out the risks.

At Citi, the wealth management service provided is personalised and multifaceted. Citi understands that wealth is an enabler and the bank seeks to help customers fulfil their aspirations - from having more time to pursue their passions and interests to gaining access to specially curated events that are relevant to them.

Citi also offers solutions that support customers who are passionate about issues relating to saving the environment or empowering women and minorities in business and corporate social responsibilities among others. There is a variety of Environmental, Social and Governance (ESG) integrated investment solutions with a global thematic focus and investment opportunities relating to climate change, renewable, sustainable or clean energy which investors may find suitable to meet their specific needs.

"At Citi, our approach is for a holistic, personalised wealth management portfolio, fully customised to the customers' needs, goals and finances," says Mr Brendan Carney, chief executive officer of Citibank Singapore.

There's more to wealth

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Citi recently launched a new revamped Citigold marketing campaign titled - "There's More to Wealth" and is committed to re-energise their retail business and engage with customers, old and new, with a differentiated brand story. "There's More to Wealth" acknowledges that life is not about money and everyone has their own definition of what wealth means to them. It is diverse and personal and Citi's relationship managers continue to drive meaningful conversations to help customers achieve their goals.

Citi Wealth Hub on Orchard Road

To improve its service to customers as well as deliver unprecedented innovation to the high net-worth banking experience, Citi recently opened a new wealth hub for Citigold and Citigold Private Client customers at 268 Orchard Road - its largest globally. The Citi Wealth Hub incorporates a thoughtful biophilic design that inspires conversations as customers engage with their relationship managers and team of wealth experts in one collective locale. Furthermore, there are built-in facilities to host bespoke lifestyle events and investment seminars for customers.

Journeying with customers

Mr Carney says that while Citi is able to offer more investment products than most due to its global footprint, what really sets the bank apart is its ability to journey with customers as they move through different stages of life.

For example, customers have access to proprietary tools such as Citigold Total Wealth Advisor, a goal-based wealth advisory tool that helps them plan, monitor and manage their portfolio via Citibank Online or Citi Mobile® App. The goals are set in consultation with Citi's relationship managers.

Furthermore, exclusively for Citigold Private Client customers, the Portfolio 360 tool will help them better ascertain whether their overall investments are well-suited to their current risk-reward appetite.

"Customers who have been investing with us for years say it is the persistent 'along-side' journey that Citi offers that makes the key difference," Mr Carney says.

Mr Carney, who is also head of consumer banking for Citi in Asean, adds that the advisory services provided to customers have expanded to encompass many other areas ranging from insurance for the whole family to leaving a legacy for their children and the causes they hold dear.

"As the wealth management industry evolves and the needs of customers change over time, Citi will always be there to listen and to guide," he says.

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