are increasingly going after with growing wealth services, too: the so-called mass-affluent client set, loosely defined in the industry as a household with less than $1 million in investments assets, but with at least somewhere in the neighborhood of $100,000. Citi is planning to accelerate financial adviser hiring and expand its Citigold Private Client segment, Chubak said in a statement to Business Insider.
In public filings, Citi does not break out assets under management for its wealth businesses with the same level of detail of larger wealth managers. Its North American consumer bank oversaw $69 billion in investment assets under management as of the second quarter. A Bank of America spokesperson said other business leaders at the firm have assumed Poole's responsibilities, though declined to specify which leaders. Citi executives have signaled that wealth management is a key part of growing its reach to retail customers.
It built out a separate digital financial planning tool for Citigold clients in March 2019, called Citi Wealth Advisor, which also gives them access to a dedicated team of advisers, and announced that clients would get commission-free trading on ETFs and new-issue US Treasury purchases.
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