Selected and one of the Best Books of 2015 by Rémi Coignet, Pierre Bessard, Harvey Benge
WEALTH MANAGEMENT is the practice of helping to make the rich richer, while at the same time depriving the public coffers of economic resources that would otherwise come from tax revenues. The term wealth management is used in the elite retail divisions of international banks, to distinguish those services from mass-market offerings.
It refers to a professional service, which is the combination of financial advice, fiscal strategy, and legal planning for one fee. With the help of tax havens and the complicity of supranational legal frameworks that allow their existence, the clients of private banks benefit from privileged information and a powerful net of influences operating in a way that their wealth tends to accumulate.
Private banks, like other powerful organizations, are masters of euphemism. They communicate in a limpid, sophisticated, professional language, both written and visual, which invites the wealthy to join them and enjoy the ecstasies of accumulation.
This book is about a view of the world of the ultra-rich and their agents: a supposedly better life, where money does not always bring happiness and where there greatest luxury of all is being invisible, inaccessible, and therefore invulnerable.