Unlike private banks, Taurus Family Office offers a fee-based advisory service because its Founder and CEO Mandeep Nalwa believes that this is a more transparent way of doing business as your loyalties are completely towards your customers
2/2/2016 2:11:07 PM
|written By : Nithya Subramanian|
During my 17-year long career as a business journalist, I’ve interviewed several top bankers – some flashy, some aggressive and mostly overzealous about closing a ‘deal’. Rarely have I come across one who was calm, collected and self-assured. Mandeep Nalwa, Founder and CEO of Taurus Wealth Advisors is such an execption.
While his wealth advisory firm is called Taurus, there is no frenzy that is associated with a bull market or Pamplona’s Running of the Bulls festival. In fact, his organisation seems to represent the Mesopotamian bull that is strong-willed with great perseverance and determination.
Located in the busy financial district of Singapore, famous for its high rise glass-and-steel structures, Taurus operates out of old shophouse offices within this precint. The pathway is strewn with green potted plants and calming fountains giving a zen like feel. “In London, most of the family offices are located in areas that give a sense of solid stability and old worldliness. We wanted to give our clients the same sense as we are a fee-based multi-family office, providing holistic and tailored investment advice to high net-worth individuals and families for long term wealth accumulation and preservation.”
Taurus being a true blue Multi Family Office is very different from private banks as it focuses on providing advice on investments and charges a fee for that advice. It does not custodise client’s assets like a private bank does or charge a client a commission each time they buy and sell a financial product. In fact, if it earns such commissions, they are offset against client’s fees. The clients keep their assets with the bank, but generally rely on Taurus for advice on the investment strategy of those assets.