Saturday, June 10, 2006

Why wealth-management and trust marketers love the halls of Ivy

Well over 90% of U. S. households are not millionaire households.

Only perhaps 3 or 4 million Americans are millionaires in their own right, not counting their spouses' assets.

Seems like finding new HNW clients would require a lot of searching. Happily, there's a short cut. As The Wall Street Journal reported recently, Harvard estimates that more than half its 300,000-odd alumni are millionaires. Yale and Princeton alums must offer almost equally good pickings.

No wonder savvy workers in the HNW market hold the membership lists of their local Ivy alumni clubs in such high esteeem.

Nostalgia note: "Halls of Ivy" is a name that will resonate with Gramps and Granny. The popular post-WWII radio show, starring Ronald Coleman and his wife, migrated to TV for two seasons. Coleman played the president of Ivy College. You can listen to one of the radio shows here.

Ivy College alums can even sing along with the Alma Mater. All together now! "We love the halls of Ivy that surround us here today . . . "

Extra-credit trivia question: On Jack Benny's radio show, who played his next-door neighbors?

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