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Exactly. UAE plans to stop money laundering every 6 months but never happened.

They will lower fees for high amounts. You can get better service than online brokers with reasonable fees. IMO 2 benefits are the most significant. You can benefit from the safety of a big private bank. UBS, DBS, Chase, Citi etc.. they all safer than 20 year old online brokers. You don't have...

PV is good if you invest at least $5M. Otherwise IB, Swissqoute, Saxo are more than enough and cheap.

I don't know your point but this is about saving a million USD, not a penny. If you're dealing with small portfolios, it will not be worth it, it is better to spend your time on your business growth but if you're dealing with 8 figure portfolios, they make a huge difference.

In the long term yes. $1M will make a difference to afford your new yacht.

Actually it is not only 1%. Think bigger. It is 10% for ten years which means $1M fee for a $10M portfolio ;)

No need to pay high amounts for private banking if you choose the correct one. DBS bank is one of the safest banks in the world with a credit rating of AA-. If you have $5M, they can easily offer you a 0.15% custodian and %0.10 transaction fee.

Yes sir but after you paid $30K in annual fees.

0.35% is not high for PV if you have less than $5M but the transaction fee is extremely high.