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Spotlight - The Mid-tier Millionaire Segment and the Virtual Service Network Model

A growing segment of HNWIs that have between US$5 million and US$30 million in financial wealth, called the “mid-tier-millionaire” (MTM) stand out in the affluent market as an under-served group. This segment expresses a desire for family-office-like services to reduce the complexity and burden of managing their wealth, but surprisingly no provider can afford to deliver these kinds of services to this important segment. While there is clearly a gap today between what mid-tier millionaires want and need and what is available to them today, we believe that a new model of service will emerge to enable MTMs to better manage their multiple provider relationships and wealth strategies.