
Millionaires' new challenge: they're not rich enough for private banking - walterbell
https://www.theguardian.com/money/us-money-blog/2016/sep/11/millionaires-private-banking-chase-wealth-management
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gozur88
>That’s when you realize that you’re nothing more than a “single-digit
millionaire”. You’re just not that special.

Well... you're _not_. It's not that difficult to accumulate a million dollars
over the course of a technical or managerial career if you don't have a
family.

>The rest of us? Like everyone else, we’re increasingly underserved by the
banks and the rest of the financial services industry, and our needs are
growing.

Really? How so? If I don't need shell companies created in Caymen, what kind
of special service do I really need from a bank?

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gumby
Frankly I've used some of these "private banking" services and they never
seemed to add anything beyond fees. Maybe I just didn't need anything
amazingly super-sophisticed. I suppose if you have more than $50 million (not
me!) you might benefit from something exotic.

If you want to pay someone to tell you you're great, get a dog.

