Banking on the Rich

Banks have made plenty aggressive moves into the brokerage industry in recent years, but they've struggled to gain a foothold in the all-important high-net-worth segment. A new study from Boston, Mass.-based Celent Communications details a negative trend in banks' recruitment of the ultrawealthy. The study suggests that the first step in turning this tide is for banks to improve investors' opinion

Banks have made plenty aggressive moves into the brokerage industry in recent years, but they've struggled to gain a foothold in the all-important high-net-worth segment. A new study from Boston, Mass.-based Celent Communications details a negative trend in banks' recruitment of the ultrawealthy. The study suggests that the first step in turning this tide is for banks to improve investors' opinion of their ability to serve them.

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