Daunted by the costs of providing customized money-management services to relatively small investors, banks increasingly are turning to vendors to manage accounts of less than $100,000.

Bank trust departments are experiencing a surge in business from this segment of clients, a group that includes the coveted "emerging affluent." But it's rarely profitable for a bank to give these accounts the personalized attention clients seek.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.