With the market in the gutter for three years now, scores of private bankers, fund companies and other asset managers are trying to figure out ways to cater to changes in the behavior of their affluent clients. Their pursuit of the wealthy, who, worldwide, have $26.2 trillion at their disposal (see MFMN 7/1/02) and provide one of the only growth areas, makes perfect sense.

But some experts believe that focusing on the affluent as an aggregate group is not the best approach, and that actually, it could make matters worse.

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