Monday, July 18, 2011

Flight to Quality

Banks zero in on the ultra-rich, those with more than than $1 million in investments. Normally we'd knock that impoverished journalist's conception of "ultra-rich," but the article is better than its headline::
"Every board of directors of every bank in the world wants to focus on wealth management now."
 "We think there are a lot of people who want the convenience of consolidating their affairs in one place."
"One thing the last several years has proven is that a lot of people who want their assets managed want a strong financial institution with…staying power…"

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