Is Wall Street Abandoning Main Street?

Nary a day passes without some brokerage firm or another announcing an initiative aimed at attracting wealthy customers. With their new private wealth management groups, more sophisticated money management offerings, alternative investments or strategies, the major Wall Street firms exhibit all the signs of obsession with big-game hunting. Of course, they're chasing a relatively rare breed: the richest

Nary a day passes without some brokerage firm or another announcing an initiative aimed at attracting wealthy customers. With their new private wealth management groups, more sophisticated money management offerings, alternative investments or “segmentation” strategies, the major Wall Street firms exhibit all the signs of obsession with big-game hunting. Of course, they're chasing a relatively rare breed: the richest 10 percent of the U.S. population, with a median net worth of about $2.1 mil

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