blackenterprise.com: "A Matter of Trust
Source: Des Moines Business Record
Publication date: 2004-09-20
Arrival time: 2004-10-18
Jim Sandager, a fee-only investment adviser based in West Des Moines, says he's had more people with a net worth of at least $10 million step through his firm's door in the past two years than in its previous seven-year history.
'That tells me that people that have these more complex situations are looking for independent, objective wealth coaches that can serve as their advocate and their fiduciary in advising them,' said Sandager, a principal with Syverson, Strege, Sandager & Co.
As reported recently in The Wall Street journal, some of the country's largest financial institutions, including Citigroup Inc., Morgan Stanley and Merrill Lynch & Co. Inc. are creating separate tiers of service to differentiate their super-wealthy clients, who may have $100 million or more in investable assets, from those who may have a more modest $10 million portfolio. Others are catering to the growing ranks of the 'mass affluent' who may have from $100,000 up to $1 million to invest. "
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