[aperture]

Currently, I'm interning at a well known banking wealth management company, and I find the rich like to have the same environment.

Birthday cards, get well soon cards, calling the client and asking how they are, helping them with last minute account stuff (like making their visa have a higher cap so that cruise trip can be insured).

I think a lot of banking should be like this. I doubt it ever could be, as most banks have very few people, but specialized areas, like this rite-aid, or some wealth banking, have the time to dedicate to these people.

Treating people like people, whether it is restaurants, or banking, or anything, makes a business less like a service and more like an experience. It should be something a lot of startup companies on hn should look into.

[smm2000]

I think that most middle class people just do not need any personal services. I understand why rich need it - they have complex finances with multiple sources of income, bank accounts in different countries, tax management needs etc. Poor also may need it - bounced checks, cashflow problems, lack of understanding of financial products.

But finances for most middle-class people are plain vanilla - one or two checking accounts, credit card, simple mortgage. They do not live paycheck to paycheck so no bounced checks. There is not much space for personal interactions, especially profitable ones. Get paycheck every two weeks, pay all the bills, move whatever left to investment account. The last time I was in the bank was three years ago to do international wire transfer.

Good analogy - when I was poor student with crappy car that was constantly broken, mechanic was important person in my life. Car repair expenses in some months were bigger than my monthly budget and having rapport with good mechanic was important. Now I have newer car that pretty much never breaks and I do not give a damn who changes my oil as long as there is Starbucks nearby.