For the crazy rich, all that glitters is gold. “Private banking” brands the elite and nothing screams affluence more than having an account with UBS. Why do we need to know all of this? I guess we don’t, but sometimes we can’t help but to be a bit kaypoh. Plus you never know, you may strike 4D one day.

The Singaporean median household income is $8,846. 12.4% of these are households who earn $20,000 and above a month. That’s a sizeable percentage considering our 5.61 Million large population today. To qualify for private priority banking and not just priority banking, it takes at least $1 Million AUM.

What Is AUM?

Assets Under Management (AUM) is the total value of assets you have with a bank …