BizSugar.com › Finance › An Industry Ripe for Regulatory Overhaul, a Banking System Becoming Irrelevant

In 1994 I went to work for a “white shoe” investment firm. One of the rules of joining the firm — which I learned at my orientation — was that I had to turn over all of my savings so that my employer could manage my assets. (This was designed out of transparency, they said, to prevent insider trading. . . perplexing since I worked in the creative services department.) Anyway, I had saved steadily since the age of 18 and was able to accumulate enough to meet the firm’s standards for a managed account ($250,000), which meant certain attention to my investments, certain privileges.