4 ms·
> If we’re talking about the mass affluent - $100,000 to $1 million in investable assets This isn't really affluent on the level of being able to hire a person
by yellow_lead 3y ago
> If we’re talking about the mass affluent - $100,000 to $1 million in investable assets
This isn't really affluent on the level of being able to hire a personal assistant unless you're talking about the upper end.
- whimsicalism 3y agoI know plenty of people on that upper end and slightly above (as is common for upper middle class older people). None of them have 'personal assistants'.
- mlhpdx 3y agoI think that is the author's point -- it's a very different set of needs and expectations.
- jameshart 3y agoYou are in agreement with the author. His definition of 'rich people' is "the traditional bread-and-butter client for registered investment advisors of $1 million to $25 million in household wealth". The $100,000 - $1m asset class he refers to as the 'mass affluent' are who he concedes might be a market for 'roboadvisors'.