All articles tagged with #wealthy clients
A survey reveals that millionaires are less satisfied with their financial advisors and more value personal wellness and family services like trainers and therapists, highlighting a shift towards 'soft services' as key to high-net-worth client retention.
JPMorgan is discontinuing personal credit lines offered by First Republic Bank to its wealthy client base, which was a key way of attracting customers. Clients are being offered the option to transform their revolving credit lines into fixed-term loans at the same rate for a period of up to five years or pay off their credit lines.
Individuals with ordinary skills have turned them into lucrative side hustles by working for the ultra-wealthy. For example, a travel nanny for billionaires in New York can earn up to $2,000 per day, while a chauffeur for a wealthy financier can earn $1,000 per day. These jobs often involve more than traditional child care or driving, requiring "extraordinary personalities" with patience and a nuanced perception of anticipating a person's needs. While access and luck play a role in securing these gigs, they can provide significant income for those with the right skills and personality.