Investment Firms, Banks Compete for Clients in High Net Worth Households, Business and Industry Trends Analysis

Focusing on financial advice and asset management is one way for financial firms to boost income.  In particular, many investment banks and commercial banks target high net worth individuals.  Wealthy clients, specifically those with multimillion-dollar net worth, can provide a steady source of fees and income to asset managers.  More important than total net worth, however, is the dollar amount available for investment.  Most prized, among investment firms, are clients with $10 million or more in assets that are available for investment management.  Affluent households are in such demand that competition for the management of their assets is fierce.  Customer…

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