
For a long time, the line seemed clear. On one side were the hushed lounges of private banks, reserved for high-net-worth individuals and their sophisticated investments. On the other were online platforms, designed for the busy saver who wants to open an account in ten minutes from their phone. That idealized image has become seriously outdated. Digital brokers now offer private equity, structured products, and Luxembourg-based investment vehicles, while private banks are investing heavily in their digital tools. So where exactly are high-end investments to be found, and, more importantly, who benefits from them?