Can you service mid-tier millionaires?

Mid-tier millionaires (MTMs)-- individuals with $5 million to $30 million in financial assets -- are grossly underserved by wealth managers, said Jaime Punishill, a consultant with Capgemini. He made this observation as part of a presentation to the Boston Security Analysts Society on the Ninth Annual Capgemini/Merrill Lynch World Wealth Report.

MTMs desire the services and simplicity offered by a family office, but their assets aren't big enough to justify a family office. Punishill suggested that Virtual Service Networks will emerge to meet MTMs' needs at an affordable price.

To download CapGemini's World Wealth Report or its 2-pager on "Creating Virtual Service Networks to Bring the Family Office Downstream," go to www.capgemini.com/wealth.