With 92% of heirs switching their advisors soon after getting their inheritance, private bankers are pulling out the stops in the battle for assets.
In the Brat Patrol, Barrons reports how private bankers are wooing the next generation.
banks, brokerage houses and boutiques catering to the wealthy appear to be brimming with ideas on how young people can handle money responsibly and gracefully. They're doling out parenting advice, running financial boot camps for clients' children and moderating family disputes. In part, the bankers are responding to clients' anxieties; many wealthy parents fear their kids will become idle layabouts or spoiled brats.
Posted by Jill Fallon at November 29, 2005 2:39 PM | Permalink