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> At medium levels of wealth (more than $1m and under $50m), you are likely unable to access good advice What the actual f... According to the "Global Wealth

> At medium levels of wealth (more than $1m and under $50m), you are likely unable to access good advice What the actual f... According to the "Global Wealth Databook 2021" by Credit Suisse, page 129, there are in the US: - $1-5M : 19.5M people (<6%) - $5-10M : 3.2M people (<1%) - $10-50M : 1.5M people (0.4%) And that is from one of the richest country in the world, with a very steep exponential wealth distribution. $1-50M is _far_ from "medium wealth" by any stretch of the imagination. >$1M (liquid) is enough to be denoted "high net worth" HNW and access private banking, with a dedicated wealth manager, from most major investment banks.

skippyboxedhero 3y ago
It isn't. Maybe Morgan Stanley do $1m liquid, but they are aimed at the general public. The big investment banks usually start somewhere around $5-10m, and to actually get good advice you need to be somewhere above this level.
Thorrez 3y ago
>$1-50M is _far_ from "medium wealth" by any stretch of the imagination. There are 2 ways to interpret "at medium levels of wealth": * A medium amount of money among the general population. This is the interpetation you're thinking of. * A medium amount of money among wealthy people. So wealthy might mean $500k+, with the low end of wealthy meaning $500k-1M, and medium level of wealthy meaning $1M-5M. Below wealthy would be middle class. This may be the interpretation skippyboxedhero was thinking of.