Private equity is best left to the rich.

New Zealand Herald (Auckland, New Zealand) | April 19, 2008 | Copyright

IF WE are to believe the glossy brochures, anyone who is seriously wealthy has his or her own private banker. Graeme Hart probably has a different one for each day of the week. But, aside from the free cheque account, what do private bankers really have up their sleeves and should mum and dad contemplating their modest retirement nest-egg be looking to get a piece of the action too?

London's Financial Times regularly surveys the investment strategies of Britain's private banking elite and it seems that along with ridiculous annual fee structures, double-barrelled ...

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