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How you can make your wealth work for you

How you can make your wealth work for you

From creating a diversified portfolio to making well-informed asset choices, it is critical to have the right kind of advice in order to protect your investments

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Fortunes of the wealthy are growing.

The 500 richest people in the world added a whopping $1.8 trillion to their combined wealth in 2020, and now have a combined net worth of $7.6 trillion, according to the latest  Bloomberg Billionaires Index. Despite the pandemic, the index recorded its largest annual gain last year, with the world’s wealthy recording a 31 per cent increase in their fortunes.

In 2019, the number of ultra-high-net-worth individuals (UHNWIs) – those with a net worth of $30m or more – totalled 513,244 worldwide. That figure is forecasted to grow to 649,331 by 2024, according to Knight Frank’s 2020 Wealth Report.

In the GCC region alone, the number of high-net-worth individuals (HNWIs) – those with a net worth of $1m plus – is set to increase by 12 per cent on average and UHNWIs by over 26 per cent by 2024, the report stated. While Saudi Arabia will account for 57 per cent of the UHNWIs, the UAE will account for 23 per cent of them over the five-year period.

As wealth grows in this region, it is essential that it is well-managed in order to get the best returns and yield out of it. From creating a diversified portfolio to making well-informed asset choices, it is critical to have the right kind of advice in order to protect your investments.

One key element is to consider not only onshore but also offshore investments – and through its Citigold platform, Citi offers wealth products and solutions across Singapore, London/Jersey and the UAE – all of it managed by a single relationship manager based in the UAE. Offering investment advisory, asset allocation and insurance planning services, Citigold provides clients with a wealth management advisory team led by the relationship manager, who is also supported by an insurance specialist and a treasury expert.

Some of the advantages of diversifying investments internationally with Citigold include:

  • Investments are placed in a well regulated and secure market
  • Online trading platforms offer a wide array of features with a focus on wealth management products such as access to e-MF, e-Brokerage, e-FX on major global markets outside of the GCC (US, Hong Kong and Singapore) with real time quotes and performance charts
  • Ability to view all accounts across countries on one platform
  • Secure inheritance allocation
  • Access to Total Wealth Advisor tool through a dedicated relationship manager to manage allocations of investments, monitor their performance and re-balance portfolios

Other benefits for account holders include annual fee waiver on select Citi credit cards offering complimentary golf and access to over 1,000 airport lounges; preferential pricing on banking transactions; access to exclusive Citigold lounges in Dubai and Abu Dhabi; and priority service. Those joining Citigold now will also receive up to Dhs5,750 as a cash reward – subject to conditions.

To find out more details on eligibility for a Citigold account and other benefits, click here.

Citibank terms and conditions apply. This is an investment and insurance product and not a bank deposit. It is not government insured and there is no bank guarantee. It may lose value.

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