Citigroup Testing Ability to Let Heirs Manage their Future Money

Posted by Ed Krassenstein on Aug 20th, 2010 and filed under Business. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

CitigroupCitigroup Inc. (NYSE: C) is testing a new web page on their site which will allow heirs of their largest clients to manage and invest their future inheritance. Children of millionaire investors will simply be able to login to the website and make withdrawals, investments, charity donations, etc. Of course the parents will be able to assign the amount of money that their children have access too.

Parents will also be able to view what their children are doing with their money. Are they investing it? Are they spending it? Are they giving it away to charity?

The new system hopes to help parents decide whether or not their children will be responsible with their inheritance in the future.

The most likely reasoning for the creation of this service, is so that Citigroup can continue servicing the multimillion dollar families, generations down the line.

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