A recent Wall Street Journal article highlights how banks tailor their services for different wealth tiers—ultra-rich, rich, and affluent. While the ultra-wealthy enjoy concierge-style attention, those in the rich and affluent categories often find themselves left behind, receiving far less personalized care. CLICK HERE to take a look.
For the ultra-rich, banking is a world of bespoke services. Their needs are met with custom investment opportunities, estate planning, private aviation perks, and access to exclusive events. These clients are lavished with attention because of their significant assets, often supported by family offices. Banks compete fiercely to integrate personal and business finances seamlessly for this top tier.
But for those considered “merely” rich—those with assets in the low millions—or affluent individuals with hundreds of thousands in investable assets, the experience can feel far less rewarding. The rich receive some curated portfolios and tax planning, but their services lack the depth and innovation provided to the ultra-wealthy. Meanwhile, the affluent are often relegated to standardized products, robo-advisors, or off-the-shelf financial plans that fail to address their unique goals and challenges.
This lack of attention poses a serious issue. The rich and affluent are often in transitional phases of wealth, whether striving to grow their portfolios, preserve family assets, or achieve long-term financial security. These clients require personalized guidance and proactive strategies just as much as the ultra-rich. Yet, many banks appear more focused on chasing those in the wealthiest cohort rather than serving this broader—and equally vital—segment.
At Peak American Investment Advisors, we believe this imbalance represents a missed opportunity for both clients and the financial industry. The rich and affluent deserve better. Whether it’s planning for retirement, safeguarding wealth, or taking the next step toward financial independence, their goals and challenges are no less significant. Generic advice and cookie-cutter solutions won’t cut it.
If you’re in this underserved category, it’s time to take a hard look at your banking and financial relationships. Ask yourself: Are you receiving thoughtful, tailored advice that aligns with your needs? Is your financial institution treating you as a priority, or are they focused elsewhere?
The takeaway: You don’t have to settle for being under-served. Seek advisors who understand the unique needs of the rich and affluent and who provide personalized strategies to help you thrive. Whether you’re looking to grow your wealth or protect what you’ve built, having a financial partner who truly understands your aspirations can make all the difference.
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In addition, Peak American specializes in providing strategies and guidance for those who want to increase their chances of “winning” in retirement. We offer no-cost strategy sessions to help you design a custom strategy for your financial future. Contact us today to schedule a meeting!
