It differs from asset management. Generally, private banking services include activities ranging from credit business and asset management to capital market business and investment banking. Contrary to classical asset management, private banking does not necessarily have to include investments in values (assets). Indeed, in some cases private banking advisors are also exclusively active in an advisory capacity according to § 34F (IHK) but are not involved in actual investment processes according to § 32 KWG.
In the “Kundenwert im Privat Banking” (2007) Dr. Bettina Howlad explains the private banking in four phases:
Virtual Stock Option Plan (VESOP) gives every employee the benefit to be a shareholder of a company without an actual ownership rights structure between employer and employees.
Utility tokens provide access to a product/service and/or represent the right to use a product/service or function of a project.
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