FRNLEN

Our services

A figure on the Bank’s spiral staircase

Be­spoke wealth management

The oval table and chairs of a meeting room at the Bank

The Bank of­fers its cli­ents a be­spoke ad­vis­ory man­age­ment ser­vice. In this con­text it acts primar­ily as in­vest­ment ad­viser and cus­todi­an bank. It car­ries out stock ex­change trans­ac­tions on be­half of its cli­ents and provides them with pay­ment services.

Our part­ners take care to of­fer the ser­vice best suited to each cli­ent’s needs.

What we do, and what we do not do

We do

  • Investment advice in individual securities: shares and bonds
  • Custody of your securities and execution of your orders
  • Payments and currency exchange linked to your account
  • Long-term support for your family, with the same partner

We do not

  • No in-house funds or structured products
  • No standard discretionary management
  • No sales targets or sales-related pay
  • We do not claim to manage all of your wealth

See our fees

In­vest­ment services

Our in­vest­ment rationale

A carved mascaron beneath the balcony of the façade

Our in­vest­ment philo­sophy rests on a few es­sen­tial principles.

We in­vest dir­ectly in com­pan­ies and the busi­nesses they un­der­take, with a long-term ho­ri­zon. We see com­pan­ies as en­ter­prises which, through their em­ploy­ees, cred­it­ors and share­hold­ers, provide ser­vices and goods to their cus­tom­ers, to the be­ne­fit of all con­cerned. We there­fore fa­vour com­pan­ies that have sig­ni­fic­ant com­pet­it­ive ad­vant­ages and little debt, and whose man­age­ment and share­hold­ers share a long-term vis­ion. An in­de­pend­ent mind­set and ap­proach are there­fore needed so as not to fol­low the con­sensus, which of­ten leads to in­vest­ments whose ex­pect­a­tions are too high and whose res­ults gen­er­ally prove disappointing.

In ad­di­tion to our dir­ect in­vest­ments, we also use phys­ic­ally rep­lic­ated ETFs, which ac­tu­ally hold the se­cur­it­ies that make up ma­jor bench­mark in­dices. These in­stru­ments al­low us, on the one hand, to in­dex part of the port­fo­li­os and, on the oth­er, to cap­ture areas of growth that are harder to reach through in­di­vidu­al se­cur­it­ies. Through the nat­ur­al evol­u­tion of in­dex com­pos­i­tion, they also en­sure that port­fo­li­os ad­apt auto­mat­ic­ally and quickly to changes in the eco­nomy, wheth­er tech­no­lo­gic­al de­vel­op­ments or shifts in con­sumer habits. With their very low costs, they fit fully with­in our long-term ap­proach, of­fer­ing broad and trans­par­ent ex­pos­ure to the mar­kets concerned.

Fi­nally, we do not make mar­ket pre­dic­tions. We hold to the prin­ciple that any fore­cast of the fu­ture is ex­tremely dif­fi­cult, if not im­possible. That is why we de­vote our en­ergy to identi­fy­ing com­pan­ies that cre­ate value for their share­hold­ers across eco­nom­ic cycles, and there­fore over the long term. We are pleased to see that this ap­proach has proved its worth over sev­er­al decades.

A be­spoke service

The wrought-iron railing of the spiral staircase

Tra­di­tion­ally, the Bank has nev­er wished to of­fer a “dis­cre­tion­ary man­age­ment” ser­vice. We prefer ad­vis­ory man­age­ment, which both al­lows cli­ents to keep con­trol over their as­sets and in­volves them in their investments.

You re­main in control

Every in­vest­ment de­cision is taken in con­sulta­tion with the cli­ent. You re­main in charge of your port­fo­lio and of the de­cisions taken in it.

Dir­ect holdings

In­vest­ing dir­ectly in shares and bonds has sev­er­al ad­vant­ages. We take a long-term ap­proach, in step with the pro­jects un­der­taken by the com­pan­ies in which we in­vest. Each cli­ent can there­fore identi­fy with the com­pan­ies they fin­ance. By hold­ing shares and bonds dir­ectly, you have full trans­par­ency on both the com­pos­i­tion of your port­fo­lio and its costs. Fin­an­cial products such as in­vest­ment funds and struc­tured products, for ex­ample, gen­er­ally re­duce vis­ib­il­ity on both these as­pects. We may, how­ever, re­com­mend phys­ic­ally rep­lic­ated ETFs track­ing ma­jor in­dices, which al­low your port­fo­lio to be in­dexed at very low cost and without con­flicts of interest.

That match your eth­ic­al criteria

Our ap­proach to in­vest­ment ad­vice through dir­ect hold­ings lends it­self par­tic­u­larly well to each per­son’s con­cerns re­gard­ing eth­ics and en­vir­on­ment­al and so­cial re­spons­ib­il­ity. Through our ad­vice, we will guide you to­wards the choices most closely aligned with your values.

An­cil­lary services

An old calculating machine in its wooden case

Along­side its main ser­vice, in­vest­ment ad­vice, the Bank also of­fers an­cil­lary ser­vices such as pay­ment and for­eign ex­change services.

The Bank’s partners on the staircase
Our governance

Dir­ect, ef­fi­cient man­age­ment without intermediaries

A very im­port­ant fea­ture of our wealth man­age­ment is that it is provided ex­clus­ively by the six part­ners: Arnaud van de Put, Max­im­i­li­en de Was­sei­ge, Charles-Ant­oine de Belle­froid, Nic­olas van de Put, Alex­is van de Put and Maxime Roberti de Winghe.

Our governance

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