Where do millionaires keep their money? Tad Fallows and Matt Shechtman break down Long Angle's survey of 165 high-net-worth households grading every financial product they use: the most-carried credit cards rank near the bottom of their categories, brokerages beat banks at banking, and spreadsheets are still the number one way wealthy households track their portfolios.
The full 2026 High-Net-Worth Financial Products: Benchmark Report is available at https://www.longangle.com/research.
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Long Angle is a private, vetted global community of accomplished entrepreneurs, executives and professionals who have reached meaningful financial milestones and want to navigate wealth with peers who understand their challenges, opportunities, responsibilities and ambitions.
Hosted by the founders of the Long Angle community, Navigating Wealth explores how experienced investors, founders and operators approach the real questions wealth creates, from private markets and capital allocation to business exits and life design.
Learn where high-net-worth households keep, bank, track, and protect their money. Stop assuming the most popular financial products are the ones their users would recommend.
Most people think the biggest banks and best-known cards are where wealthy families keep their money, but this survey shows the opposite: Fidelity and Schwab earn banking recommendation scores the big banks do not come close to, and the most-carried credit cards rank near the bottom of their categories.
We cover credit cards, banking, brokerages, portfolio tracking, mortgages, and insurance, including the umbrella policy math many households skip, roughly $10 million of coverage for under $3,000 a year, and the revocable-trust distribution move a bank's own mortgage broker suggested for underwriting.
Subscribe for weekly personal finance breakdowns, and comment below if you want a deeper dive on the trust-distribution mortgage strategy.
#personalfinance #investing #millionaire #banking
What is Navigating Wealth?
Hosted by the founders of the Long Angle community, Navigating Wealth is a podcast for founders, executives, and investor operators who have built significant wealth. Each episode features a guest with an unusual career journey and deep subject matter expertise to share fresh, candid perspectives across some aspect of the economy, investing, family, health, or lifestyle.