Recommended (Re)Reading

"Nimble marketing is a necessity in today's environment. Wealth management experts say the affluent market is fluid right now and customer relationships are up for grabs. Unlike wealthy heirs, the new millionaires are still forming the advisory relationships necessary to manage their money effectively. And they don't necessarily respond positively to the brands that might have influenced the previous generation."

Julie Monahan wrote that, in an article called Reaching Wealth's Upstarts, in 2001. Alas, the dot.com Boomers who inspired the article didn't necessarily stay rich.

Now, a new wave of new young wealth is emerging. These youngest Boomers and Gen X'ers are even less likely to turn to private banks or trust companies for "wealth management" (a term that had not yet been subjected to massive abuse in 2001).

Who will win their business? How will they win it?

Ladies and Gentlemen, start your thinking caps!