By Kevin O’Donnell
Published: January 5 2007 12:06 | Last updated: January 5 2007 12:06
There is a growing queue of private banks and wealth managers chasing the £100,000-plus investor as the numbers of these wealthy individuals looks set to break through the 2m barrier for the first time in 2007.
Wealth managers and private banks are expanding to meet the demand from the growing numbers of affluent but “time-poor” investors who want professionals to manage their money for them and treat them as a name and not an account number.
The bracket between £100,000 and £250,000 is below the traditional private banking threshold of £500,000 but private banks and wealth managers see this sector as the fastest-growing segment of the market. [Read more]
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