Giving up on the middle class

July 20, 2012

With more dismal U.S. economic data emerging this week, one marketing consultant wealth manager is advising her financial industry clients colleagues to ignore the masses altogether and focus solely on the ultra rich.

In an article on wealthmanagement.com, April Rudin, CEO of The Rudin Group (which, for the record, says it only focuses on clients of high and higher net worth), describes a “new reality” in which many wealth managers are marketing themselves to people who “will in the future not be able to afford their products and services.”

In the wake of the financial crisis, middle class families in the U.S. are burdened by too much debt, the rising cost of health care, fewer jobs and the ever-increasing price tag on retirement.

She adds bleakly:

The middle class is toast.

2 comments

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Emily,

I am NOT a wealth manager but a wealth marketer which is quite different. I help wealth managers grow their business. Please correct this inaccuracy and RT…

Thanks,

April

Posted by AprilJRudin | Report as abusive

If they were skinning Russia’s, it’s all good. If not, oh well.

Posted by Anonymous | Report as abusive