Examples of wealth managers include independent advisors or large corporate entities like Citibank's Citigold and other extensions of retail banking services designed to focus on high-net worth retail customers. Such customers would be called internally in a bank 'mass affluent' or 'upper retail' clients because of their net worth, the number of potential products they own from the bank, their assets under management and other methods of segmentation. The banks create separate branches, services and other 'benefits' to retain or attract these customers who are typically more profitable than other retail banking customers. However, wealth management clients are not Private Banking clients because they simply do not have the Net Worth or Assets under management to justify the level of banking services that Private Banks provide.
References
External links
- Wealth Management Department of Treasury Handbook
- Federal Reserve Comments
- Dictionary - Wealth Management
- Opportunity Knocks - Unlocking the Wealth Management Potential in Asia, Deloitte & Touche - Financial Services
This article is licensed under the GNU Free Documentation License.
Last updated on Thursday July 17, 2008 at 15:04:18 PDT (GMT -0700)
View this article at Wikipedia.org - Edit this article at Wikipedia.org - Donate to the Wikimedia Foundation
Copyright © 2008, Dictionary.com, LLC. All rights reserved.