Is Lending to Wealthy
THIS ARTICLE ORIGINALLY APPEARED IN THE FEBRUARY 2008 ISSUE OF THE RMA JOURNAL.
There is no customer that financial services institutions
compete for more than the high-net-worth individual. Usually,
extending credit to wealthy individuals is a win-win: The customer
benefits on several levels, and so does the institution. But before
beginning the marketing effort, it’s important for a lender to
understand what motivates this important customer segment and
which risks should be considered.