Private banking services popular as savers 'open to alternative investments'?

Private banking services could enjoy a resurgence in popularity, as one commentator claims individuals are more willing to change wealth management practices in the aftermath of the recession.

Jason Butler, partner at Bloomsbury Financial Planning, suggests individuals are "increasingly open to considering alternative investments that offer higher returns", a trend that could see many looking to private banks in a bid to increase the value of assets.

Private wealth management groups can protect personal wealth by offering advice on a range of investment options, including offshore bank accounts and socially-responsible asset vehicles.

Mr Butler notes certain products - such as student ground rent funds - may not be appropriate for all individuals, but private banking services can be used to ensure Britons make the correct choices when it comes to protecting their fiscal status.

Recent research from Halifax indicated many individuals do not take advantage of specialist savings accounts and tax breaks, with boroughs in south London displaying the lowest take-up of such schemes.  ADNFCR-2318-ID-800154803-ADNFCR