Thomson ReutersMarch 28, 2014 10:19
By Ed McCarthy
(Reuters) - Wealth managers routinely specify minimum sizes for new accounts, but far fewer advisers set maximums. Maybe they think "the bigger the better," but that is not necessarily true.
High-net-worth clients, especially those with $30 million or more, are different from garden-variety millionaires. They do not sweat the small stuff, like planning for their kids' education or retiring comfortably, so they do not value basic financial planning services as much as less-affluent clients.