At Last, the Super Rich Get Their Own Bank

by
Abby Zimet

Because the economic divide in this country can never get big enough, Wells Fargo is starting a new bank just for those 10,000 U.S. households with over $50 million in "investable assets" - total: $1 trillion - to spare. Launching in about 15 cities, the Abbot Downing brand "goes beyond traditional wealth planning analysis by focusing on clients’ values, goals and vision” - including, presumably, never again having to mingle with the likes of you or me.

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