Wooing the Wealthy

Just happened across a lengthy piece Bloomberg ran on selling hedge funds (aka "private banking") at Goldman Sachs and elsewhere. If you missed it, click here.

Quotable quotes include:

"'My job was a lot of bending over backward and kissing butt,' says a former private banker."

"Rich people as a business model are sensational. They're willing to pay to make it easy on themselves. They don't fight over fees if they see value.''

"Very wealthy clients want to speak directly to the person who is managing their money, not a salesperson."