"Too rich for Amex Plat and too poor for Amex Black" is real. JP Morgan's private bank requires $10M minimum. Citi wants $10M liquid and $25M net worth. UBS will talk to you at $2M. Below that? You get a robo-advisor and a customer service chatbot. The mass affluent ($500K to $5M) hold over $55 trillion in wealth globally. That's double what the ultra-high-net-worth hold. Citi's own research admits, they're "underserved in terms of the financial products they have access to." I came up with the phrase jokingly, but the more I talk to users the more I realize this is a real underserved segment that is right in front of us. Perena gives people access to alternatives with no minimum, no lockups, and that alone beats existing private banks.