Just been reading about where millionaires actually bank and honestly it's kind of interesting how different their options are compared to us regular people. Turns out there's a whole tier of banking services most of us don't even know exists.

So apparently if you've got serious wealth, you don't just go to a regular branch. You get assigned a private banker, sometimes a whole team of them, and they basically manage everything for you. J.P. Morgan Private Bank seems to be the gold standard for ultra-wealthy folks - they get access to investment strategists, economists, advisors, the whole package. It's got that concierge feel where you're not waiting on hold.

Bank of America and Citi also have their private divisions. BofA requires like $3 million minimum and handles stuff like strategic philanthropy. Citi wants $5 million and operates globally across 160 countries. Chase Private Client is interesting though because it's more accessible - only needs $150K to avoid fees, so it's for people who are high earners but not quite ultra-wealthy yet.

The crazy part? What banks do rich people use really depends on what services matter to them. Some want investment management, others care more about estate planning or tax advice. The article mentions that smaller regional banks are actually gaining popularity because they offer more personal attention and direct access to your banker, which bigger institutions can't always match.

Makes you wonder if building a real relationship with a banker matters more than the bank's size. Seems like that's becoming the actual differentiator.