Affluent Trending Toward Trust Companies

Affluent investors are moving their funds away from global investment banking firms, shifting them to alternative firms such as trust companies, Bloomberg reports.

The shifting in funds by high-net-worth clients, typically defined as those with $2 million or more in investable assets, away from global investment banks is partially responsible for a nice boost in business at Wilmington Trust Corp. The company's CEO told Bloomberg news that affluent investors are concerned about where they are parking their assets and there is tangible evidence that they are shifting assets away from brokerage firms.

Affluent Trending Toward Trust Companies
Source: Financial-Planning.com