Bankers are not happy with their pay, according to a poll done financial services recruiting firm, Selby Jennings.
Globally, 67.2 percent of them believe they should be compensated more given market conditions.
But maybe it's actually better for them if their salaries are lower.
According to a report from Wells Fargo being really, really rich just stinks and it takes a lot of work.
For one, you might need a psychologist to help with the wealth management process, and/or you may be under a lot of pressure to chose a place to discuss family money peacefully and comfortably.
Well Fargo's website has some really interesting literature ("white papers") that go over 1% problems. We've picked out the ones that sound most horrific.
If you're uber-rich, you might have to hold family meetings to talk about your money.
Abbot Downing suggests that wealthy families having so-called "family meetings":
"Regular family meetings provide a forum for sharing news, concerns, opportunities and challenges in an open and direct way."
But you probably won't meet in the comfort of your own home.
From Abbot Downing:
"Parental homes or offices make less-than-ideal locations. Meeting at “the old homestead” may encourage family members to fall back into old patterns of behavior, plus it may be intimidating to in-laws or to children less familiar with the location. Family homes and offices are also filled with everyday distractions, and there may not be room enough for everyone comfortably."
That's why you should spend more of your money to meet somewhere more suitable such as a country club.
From Abbot Downing:
"Gathering family members at a resort, a rented home or a country club costs money that is well spent. Using the family’s resources for a meeting sends an important message to the family. It says, “We are here not just to grow the money but to grow ourselves, to grow together."
See the rest of the story at Business Insider
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