What can a guy at "Goldman Sachs" do that a another educated finance rich guy can't do for himself?
Let's pretend that you won the lottery and have $100 million. Surely, you will recieve calls/messages from financial institutions asking to invest your money in stocks/bonds. Also, let's assume that you think you are a finance genius and can do everything yourself. What can a guy at "Goldman Sachs" or another top financial institution do that you can't do yourself if you open a new E-trade account? What exclusive privileges do you get at a top financial institution?
You don't necessarily pay investment advisers/managers because they can do more than you if you allotted all of your time to manage your money through a personal account. HNWs purchase their services because they know their money will be managed well without ever having to look at it. As well, if they work at the top financial firms they probably have a stronger fundamental knowledge of the markets, than say a person who won the lottery. But it's mostly the first point.
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