Our number one goal is to protect and perpetuate our clients’ wealth as we would our own. New York Private Bank & Trust provides clients with fully customized, tax-managed, investment advice based on unbiased and independent analysis. Services include complete investment program construction; best in class investment products, evaluation and oversight; and risk and performance analysis. Our investment professionals are uniquely qualified to advise fixed-income investment portfolios and other separately managed portfolios. We offer clients including foundations, non-profit organizations, and trusts separately managed fixed-income accounts, and unique co-investment opportunities directed by seasoned portfolio managers. One longstanding client, Cuyahoga Community College in Cleveland, Ohio, sums up their NYPB&T experience as follows:
“Cuyahoga Community College has been a client of New York Private Bank and Trust (NYPB&T) for many years. They have delivered outstanding investment performance to the college’s fixed-income portfolio, especially in a very challenging low interest rate environment, and at highly competitive fees.
NYPB&T differentiates themselves with clear concise investment reporting, strict adherence to investment policy guidelines, and responsive 24/7 availability of their portfolio managers to our finance team. We strongly recommend the investment management and trust services of New York Private Bank and Trust.”
– David J. Kuntz, CPA Executive Vice President/Treasurer
NYPB&T’s portfolio managers currently oversee aggregate fixed-income investments of over $2 billion, comprised primarily of municipal, corporate, mortgage backed, and treasury securities. The managers have long tenures with the Bank and have successfully managed through the wide range of interest rate and credit cycles seen over the last three decades. An NYPB&T Separately Managed Account (SMA) requires $5 million of investible assets and has a flat fee which declines for accounts over $20 million. SMAs are designed to meet the specific investment objectives of individual and institutional investors, and are governed by an Investment Policy Statement (IPS) developed in consultation with the client to ensure portfolio composition meets their needs and expectations. For fixed income portfolios, SMAs offer certain advantages over mutual funds that allow for better management of credit risk, portfolio duration, and taxes.
New York Private Bank & Trust provides services designed to assist investors in all aspects of decision-making related to the investment of their assets.
- Investment objectives development
- Investment strategy review
- Asset and liability modeling
- Analysis of unique investment opportunities
- Investment manager monitoring
- Performance reporting, evaluation and monitoring
- Education on investment or governance related topics
We invest with a long term perspective and create customized investment strategies that will enable clients to meet their objectives. Our investment programs are specific to client needs, and are:
- Consistent with investment time horizons
- Reflective of risk tolerances
- Designed to meet liquidity needs
- Monitored on an ongoing basis
Trust & Estate Administration
New York Private Bank & Trust offers a full range of fiduciary services that take into account investment management, tax, reporting and estate planning needs. At all times, we act in our clients’ best interests by remaining objective and avoiding any potential conflicts of interest. New York Private Bank & Trust does not invest trust assets in proprietary investment products. We seek access to the best available managers and then monitor their performance to ensure that they continue to perform in our client’s best interests.
- Intellectual Capital: Our staff of fiduciary experts has extensive experience working with high net worth families and individuals administering sophisticated estates and trusts with traditional as well as non-traditional fiduciary assets.
- Services Offered: New York Private Bank & Trust offers a complete array of trust services including: acting as executor of an estate, administrative trustee, full trustee, co-trustee, trustee of charitable remainder or foundation trusts, as well as trustee of life insurance trusts, Rollover IRA accounts, Dynasty Trusts and Asset Protection Trusts.
- The Delaware Advantage: By offering trust administration through our Delaware based trust affiliate; New York Private Trust Company, we extend to our fiduciary clients the benefits of a trust jurisdiction that is forward thinking, innovative and respected in fiduciary and investment matters. Our Delaware trust situs allows an individual to create trusts having a perpetual duration, asset protection capability, flexibility in financial planning and investment management, as well as favorable tax treatment by eliminating or reducing state fiduciary income tax.
Proper estate planning includes both minimizing future tax liabilities as well as ensuring the client’s wealth is distributed according to their wishes. New York Private Bank & Trust’s fiduciary experts have extensive experience working exclusively with high net worth families and individuals in administering sophisticated estates. This experience includes administering estates with traditional assets (stocks, bonds and tangible personal property), as well as non-traditional assets such as real estate holdings, operating business interests, partnerships, oil and gas interests, collectibles, hedge funds, private equity, structured notes and other alternative investments. Estate administration services include:
- Identifying and valuing estate assets
- Paying taxes, creditors and expenses
- Preparing and filing tax documents
- Distributing assets to beneficiaries
Our substantial experience in dealing with sophisticated investments, real estate portfolios and operating business interests, allows us to assess a client’s entire portfolio and adopt a course of action designed to maximize value for the family, even if it means continuing to hold such assets. Estates owning real estate assets have access to the Milstein family’s world-class experience in developing, managing and operating real estate nationally and internationally. Similarly, through our affiliates, New York Private Bank & Trust’s fiduciary experts have access to sophisticated investment and business specialists with deep experience in evaluating on-going businesses, hiring and over-seeing management and determining how to best maximize value. We welcome the opportunity to work with you and your advisors in exploring ways in which New York Private Bank & Trust’s team of fiduciary experts can assist you in reaching your goals.
Through our subsidiary, NYPB&T Precious Metals, LLC, we offer clients the ability to efficiently purchase and store physical precious metals. Using our state-of-the-art technology platform, we provide access to an institutional dealer network for transactions and a global network of secure vaulting facilities for safe storage of allocated bullion. Gold as the New Government Bonds – A summary for the wealth management clients of Gold Bullion International Gold as an asset class:
- Our experts are highly experienced in helping clients understand the dynamics of gold investing and how gold may help them preserve wealth for future generations.
Gold’s role in portfolio construction:
- “True” portfolio diversification – low correlation to most asset classes in “normal” markets and negatively correlated during periods of market stress
- Useful for protecting against losses from “tail events” and financial crises
- Protection against wealth decay impacts of inflation and currency devaluation
Other gold characteristics:
- Moderate volatility
- The gold market is deep and liquid
- Gold has no credit or counterparty risk
An array of precious metals products:
- Gold, silver, platinum, and palladium (bullion bars and coins)
- Global storage locations: Salt Lake City, New York, Toronto, London, Zurich, Singapore, and Melbourne. Clients may move holdings between vault locations and transfer-in metals held elsewhere.
Transparency and Liquidity
- Transactions are performed on an agency basis through a network of institutional dealers that actively compete for each transaction.
- Our competitive bidding model provides transparency, best execution, and access to a broad pool of liquidity
Storage and security
- Bullion is stored in allocated form and clients retain direct, titled ownership at all times
- Client holdings are fully insured for 100% replacement value by Lloyd’s of London
- Physical audits of stored metals by KPMG at each vault location
- Clients may take possession of precious metals holdings at any time
- Precious metals are delivered via insured, commercial courier or armored vehicle
Managing cash and liquidity is a critical element of any Private Banking wealth solution. At New York Private Bank and Trust, your dedicated private banker will discuss with you deposit and credit solutions to meet your liquidity needs. Solutions are custom tailored to suit your specific risk tolerance, time horizon, personal goals and objectives. Credit New York Private Bank and Trust offers several credit solutions to help you manage your liquidity requirements while keeping your assets fully invested. By leveraging the credit capabilities of our parent company, Emigrant Bank, we are able to offer you a number of customized credit products. These may include:
- Loans secured by diversified marketable securities
- Loans secured by illiquid securities
- Loans secured by specialty assets (i.e. fine art, real estate…)
- Lines of credit for personal and business use
Deposits New York Private Bank and Trust offers checking and savings accounts to our private clients with preferred rates on high balance accounts. Our products include:
- Personal checking accounts
- Business checking accounts
- Chairman’s Account: a savings account with preferred rates for higher balances