Property News · September 11, 2016

Millionaires' new challenge: they're not rich enough for private banking


JP Morgan Chase is increasing the minimum asset level for such services as big banks focus on their richest clients – and the rest of us are underservedSo you’ve just sold those Facebook shares that your high school buddy, Mark Zuckerberg, let you buy years before it went public, and you’ve made an after-tax profit of $4m. You’re feeling very, very rich.Until, that is, you talk to a private bank that specializes in managing money for rich people. That’s when you realize that you’re nothing more than a “single-digit millionaire”. You’re just not that special. Continue reading…

Source : theguardian.com
Read more…Millionaires’ new challenge: they’re not rich enough for private banking

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