Financial Times FT.com

Banks design a loot camp for rich kids

By Rhymer Rigby

Published: August 3 2005 03:00 | Last updated: August 3 2005 03:00

What do school leavers and students do in their holidays? Rent a villa in Ibiza? Backpack around South America? If they are wealthy, they could be ­taking a week out to learn a little about the value of ­serious money.

A number of private banks are running financial "boot camps" for the children of their richer customers to give them a grounding in the basics of investing and finance in preparation for managing the family fortune they will one day inherit.

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