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Servicing the Super-Rich: New Financial Elites and the Rise of the Private Wealth Management Retail Ecology

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  • Jonathan V. Beaverstock
  • Sarah Hall
  • Thomas Wainwright

Abstract

Beaverstock J. V., Hall S. and Wainwright T. Servicing the super-rich: new financial elites and the rise of the private wealth management retail ecology, Regional Studies . The ways in which individuals' everyday lives have become increasingly tied into the international financial system has become a widely studied dimension of research on financialization. However, the ways in which financial elites consume financial services has received far less attention. In response, research on financial elites and retail financial ecologies is combined here to understand the private wealth management industry that has developed to service these financial elites. Drawing on original research on private wealth management firms, it is argued that examining the development and nature of this new financial ecology is important in understandings of financialization and its uneven geography.

Suggested Citation

  • Jonathan V. Beaverstock & Sarah Hall & Thomas Wainwright, 2013. "Servicing the Super-Rich: New Financial Elites and the Rise of the Private Wealth Management Retail Ecology," Regional Studies, Taylor & Francis Journals, vol. 47(6), pages 834-849, June.
    • Handle: RePEc:taf:regstd:v:47:y:2013:i:6:p:834-849
    DOI: 10.1080/00343404.2011.587795
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    Cited by:

    1. Brei, Michael & Ferri, Giovanni & Gambacorta, Leonardo, 2023. "Financial structure and income inequality," Journal of International Money and Finance, Elsevier, vol. 131(C).
    2. Richard Webber & Roger Burrows, 2016. "Life in an Alpha Territory: Discontinuity and conflict in an elite London ‘village’," Urban Studies, Urban Studies Journal Limited, vol. 53(15), pages 3139-3154, November.
    3. Caleb Gallemore & Kristian Roed Nielsen & Kristjan Jespersen, 2019. "The uneven geography of crowdfunding success: Spatial capital on Indiegogo," Environment and Planning A, , vol. 51(6), pages 1389-1406, September.
    4. Sébastien Breau & Jürgen Essletzbichler, 2013. "Commentary," Environment and Planning A, , vol. 45(8), pages 1775-1784, August.
    5. Oddný Helgadóttir, 2023. "The new luxury freeports: Offshore storage, tax avoidance, and ‘invisible’ art," Environment and Planning A, , vol. 55(4), pages 1020-1040, June.
    6. Alisa Minina & Jonas Holmqvist, 2021. "Liquid, Solid and In-Between: Service Relationships in Global Mobility," Working Papers 2021-005, Department of Research, Ipag Business School.
    7. Paul Langley & Andrew Leyshon, 2017. "Capitalizing on the crowd: The monetary and financial ecologies of crowdfunding," Environment and Planning A, , vol. 49(5), pages 1019-1039, May.
    8. Arthur J. Lin & Hai-Yen Chang & Sun-Weng Huang & Gwo-Hshiung Tzeng, 2021. "Criteria affecting Taiwan wealth management banks in serving high-net-worth individuals during COVID-19: a DEMATEL approach," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 26(4), pages 274-294, December.
    9. Ahmed Hamed Al-Abbadi & Adam Abdullah, 2017. "Modeling Psychology in Islamic Wealth Management," International Journal of Economics and Finance, Canadian Center of Science and Education, vol. 9(10), pages 64-85, October.
    10. Carolin Decker & Knut S G Lange, 2016. "The global field of multi-family offices: An institutionalist perspective," Journal of Financial Services Marketing, Palgrave Macmillan, vol. 21(1), pages 64-75, March.
    11. Nason, Robert S. & Carney, Michael & Le Breton-Miller, Isabelle & Miller, Danny, 2019. "Who cares about socioemotional wealth? SEW and rentier perspectives on the one percent wealthiest business households," Journal of Family Business Strategy, Elsevier, vol. 10(2), pages 144-158.
    12. Kevin L Young & Timothy Marple & James Heilman & Bruce A Desmarais, 2023. "A double-edged sword: The conditional properties of elite network ties in the financial sector," Environment and Planning A, , vol. 55(4), pages 997-1019, June.
    13. Michiel Van Meeteren & David Bassens, 2016. "World Cities and the Uneven Geographies of Financialization: Unveiling Stratification and Hierarchy in the World City Archipelago," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 40(1), pages 62-81, January.
    14. Marieke Krijnen & David Bassens & Michiel van Meeteren, 2017. "Manning circuits of value: Lebanese professionals and expatriate world-city formation in Beirut," Environment and Planning A, , vol. 49(12), pages 2878-2896, December.
    15. Rodrigo Fernandez & Annelore Hofman & Manuel B Aalbers, 2016. "London and New York as a safe deposit box for the transnational wealth elite," Environment and Planning A, , vol. 48(12), pages 2443-2461, December.

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