Is this a meme?

>>1270185
They'll certainly pester you, if they believe you have the money to make it worth their while.

>>1270188
And what do I get out of it?

>>1270196
The details will vary based on your location/capital.
But in general, it's sort of a full service personal banking thing. Preferential rates, access to professional advice, strategies, etc.

>letting someone else manage your money
Cuck

>>1270185
yes. they just want to stroke your fragile ego and take your money

https://www.bogleheads.org/forum/viewtopic.php?t=170754

https://www.bogleheads.org/forum/viewtopic.php?t=168070

>>1270259
I know, right?
The rich people all do it themselves.
This kind of active money management is really aimed at poorer people.

Sorry to chime in with more information so late but:

>Open CSP, Freedom at chase branch
>banker notices I have no deposit accounts with them
>Asks where I bank?
>Tell him I have about 80k in an online credit union
>Calls me every couple of days about putting 50k into private client

What gives? I thought you need 250k for private client?

Reading through those Boglehead pages it seems like the utility of private banking depends on how " private" It is. 250k isn't all that special. I used to do some mortgage business with a private bank that had a minimum net worth requirement of 30 million.

I have no idea what that gets you, but I but it's better than a special credit card and a safe deposit box.

I've worked in private banking for over 10 years.

There are varying levels of private banking. There are private bankers who focus on the emerging affluent crowd and then bankers who focus on high net worth individuals. The "highest" level of private banking usually deal with ultra high net worth family offices