Bankers share ways they help the wealthy pile up more riches

The Houston Chronicle, August 11th, 2003

August 11, 2003, Monday 2 STAR EDITION

SOURCE: Newhouse News Service



LENGTH: 1299 words

  1. Scott Fitzgerald was putting it mildly when he observed, "The rich are different than you and me." Truth is, they are nothing like you and me.

Unlike most of us common folk south of seven figures, the seriously rich managed to make a lot more of the green stuff last year, despite tough economic conditions and the longest bear market for stocks in at least five decades. Indeed, the ranks of the world's HNWIs - financial parlance for "high-net worth individuals," with investable assets of $ 1 million or more - increased in 2002 by 2.1 percent to 7.3 million, according to the World Wealth Report. The financial assets of the wealthy rose 3.6 percent to $ 27.2 trillion last year.

Just how do they do it? Certainly not by following the same old dusty financial playbook we've been following