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Who we are

Patronus Wealth is a financial institution specializing inoffering brokerage and multi-custody solutions. Patronushas offices in Dubai and Mauritius, regulated by the Dubai Financial Services Authority (DFSA) and the Mauritius Financial Services Commission (MFSC)respectively.

Patronus Wealth primarily serves high-net-worth individuals, institutional clients, family offices, and the clients of trustees, fiduciaries, external asset managers, and private client law firms.

We serve clients seeking comprehensive but bespoke wealth management including discretionary, advisory, and execution-only services, across a wide range of asset classes.

Patronus caters to professional clients only. Professional clients are defined by the DFSA as having investable assets in excess of USD 1 Million.

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What is the process to

start a relationship?

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Location Selection
  • Clients choose between Dubai or Mauritius for account establishment.
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Account Opening Procedure
  • Completion of Patronus Wealth's accountopening protocol is required.
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Documentation and Evidence
  • Proof of wealth source and fund origins, websites and supporting documentation.
  • Individual Net worth/corporate balance sheet details, detailed statement of assets and sources of on-going income.
  • Profiling of risk appetite, and experience in capital markets and investments.
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Analysis and Feedback
  • Patronus Wealth to review documentation and revert typically within 3 days of account opening submission by the client.
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Account Activation
  • Account opening with Patronus, subject to compliance approval, completed within 10 working days.
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Client Identification
  • Assignment of a unique relationship number to each client “XXXXX”
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How is the firm Structured ?

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Regulatory Compliance and Licensing

1.1 The firm holds a Category 3A license in Dubai and a corresponding license in Mauritius, enabling comprehensive financial operations in these jurisdictions.

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Client Money Account Establishment

2.1 The firm has the capability to open segregated client money accounts, each with a unique account, in conjunction with individual securities accounts at each custodian.

2.2 These accounts are operational under the firm's regulatory framework, ensuring compliance and security.

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Sub-Custodians

3.1 The firm's current roster of sub-custodians includes:

  • UBS, Switzerland through Swissquote as broker
  • UBP, Switzerland
  • Fidelity, Canada
  • Six Group, Switzerland
  • Capital Union Bank, Bahamas
  • Mauritius Commercial Bank, Mauritius
  • State Bank of Mauritius.
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Account Opening and Management

4.1 Clients have the option to open an account at Patronus, they have access to all the above sub-custodians through that relationship.

4.2 The custody sub-account is typically completed within 0-5 days from the Patronus account activation confirmation sent to the customer.

4.3 This streamlined process is facilitated by the firm's status as a highly regulated entity, adhering to strict anti-money laundering and Know Your Client guidelines and its relationship with its sub- custodians.

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Account Identification

5.1 Each sub-custody client account is labeled as “Patronus Client Account XXXXX”, ensuring clear and unique identification for each client.

4.2 The custody sub-account is typically completed within 0-5 days from the Patronus account activation confirmation sent to the customer.

4.3 This streamlined process is facilitated by the firm's status as a highly regulated entity, adhering to strict anti-money laundering and Know Your Client guidelines and its relationship with its sub- custodians.

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Segregation and Transparency

6.1 Client money accounts are kept separate from the Patronus balance sheet as per DFSA regulatory requirements.

6.2 Each account is physically segregated, reinforcing the security and integrity of client funds.

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Segregation and Transparency

6.1 Client money accounts are kept separate from the Patronus balance sheet as per DFSA regulatory requirements.

6.2 Each account is physically segregated, reinforcing the security and integrity of client funds.

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Fee Structure

7.1 Patronus is authorized to charge fees as per the agreed schedule.

7.2 These fees may include charges for brokerage, custody/ administration, management, and advisory services.

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Fund Transfer Regulations

8.1 Transfer of funds is restricted to movements between a client’s own account with another bank and their Patronus sub-custody account, and vice versa.

8.2 Third-party payments are strictly prohibited.

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Transfers

1. All transfers out of Patronus Client money shall be to the client’s own account or any account where the client is the sole UBO of a structure (requires documentary evidence)

2. Transfer instructions must be sent formally signed and a call-back on a recorded line shall be done before execution.

3. Third party transfers are not permitted.

How are funds managed ?

Client Account Management at Patronus Wealth under different mandates.

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Advisory Services

  1. Assignment of an Advisor and a Relationship Manager to the client.
  2. Investment advice tailored to the client's risk profile.
  3. Execution of securities transactions, settlement in client’s custody account.
  4. Communication: Trade confirmation by email, trade advice, and monthly portfolio statements.
  5. Additional Services: Ad-hoc portfolio statements and electronic view-only portfolio access.

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Discretionary Services

  1. Assignment of Two Relationship Managers for enhanced service.
  2. Investment in model portfolio according to client’s risk profile.
  3. Ongoing execution and settlement of securities transactions.
  4. Reporting: Monthly portfolio statement, weekly market outlook, and monthly discretionary portfolio updates.
  5. Additional Services: Ad-hoc portfolio statements and electronic view-only portfolio access.

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Execution-Only Services

  1. Assignment of Two Relationship Managers for constant availability.Execution of securities transactions as instructed by the client or their authorized advisors.
  2. Efficient settlement of transactions in the client’s sub-custody account.
  3. Communication: Trade confirmation by email, trade advice, and monthly portfolio statements.
  4. Additional Services: Ad-hoc portfolio statements and electronic view-only portfolio access.