This Week in Beyond Wealth
In today’s special edition, we share insights from Long Angle’s new High-Net-Worth Financial Products Study. Access the full report here.
How the most-used credit cards aren’t the most recommended.
Which brokerages are preferred over banks, even for banking.
The gap between specialty insurers vs. standard carriers.
Which credit cards are the most recommended?
Long Angle surveyed 165 high-net-worth households asking which financial providers they use and recommend across product categories.
For credit cards, adoption and advocacy diverge. Amex Platinum and Chase Sapphire Reserve lead in adoption, but lag competing cards in share of users who would recommend to peers. Capital One Venture X, BofA Premium Rewards Elite, and cash back cards like Amazon Prime Visa are all more likely to be recommended to peers.
Several Amex Platinum and Chase Sapphire Reserve users described rewards eroding toward statement credit coupon books.
Source: Long Angle, 2026 High-Net-Worth Financial Products Report
What cardholders optimize for is simpler than what card issuer marketing implies. Travel rewards and cash back were the top reasons to hold a card. Airport lounge access and elite status perks followed, while shopping and entertainment statement credits ranked lower despite the heavy issuer emphasis in advertising.
Respondents who did chase statement credits described the effort to earn, track, and redeem them as frustrating.
What do other investors think of their banks and brokerages?
Respondents recommend the brokerages they use far more than their banks, including for banking products. Fidelity and Schwab have near-unanimous approval for both banking (checking/transactions) and cash management (savings).
Chase, Bank of America, and Wells Fargo trailed across both categories.
Source: Long Angle, 2026 High-Net-Worth Financial Products Report
Big banks still have the most banking (checking/transactional) relationships by share of users, but they hold them on convenience rather than advocacy. Respondents described legacy checking accounts as something they keep rather than endorse.
The two features people valued the most in banking or cash management were a high interest rate and consolidation with an investing account. Brokerages have an edge in both.
Branches still matter to 61% of respondents, which helps explain why lower-rated banks retain customers.
Who are the best insurance carriers for high-net-worth households?
Carriers that specialize in high-net-worth insurance are more recommended than standard insurers for home and umbrella coverage.
For home insurance, Cincinnati (88% recommend) and PURE (100%, though on a low base) shined. State Farm, the most-used carrier, falls short with just 43% who say they’d recommend it.
Respondents praised premium carriers for reliably paying claims. Even a State Farm customer gave the advice: “Go with a UHNW carrier, if available.”
Specialty carriers insure the highest-valued homes in the sample, while standard carriers often cap coverage well below what a $2M+ home needs.
Source: Long Angle, 2026 High-Net-Worth Financial Products Report
For umbrella coverage, HNW carriers earn decent approval: Cincinnati (78% recommend), Chubb (70%), PURE (83%). Standard carriers are hit or miss, as State Farm and GEICO disappoint but RLI has universal approval.
The advantage for specialty carriers narrows for auto insurance, however, where the recommend gap compared to standard insurers all but disappears.
Access the full report
Read the full High-Net-Worth Financial Products Report for deeper insights on credit cards, banks, brokerages, lenders, insurance carriers, and more.
Source: Long Angle, 2026 High-Net-Worth Financial Products Report
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Published By
Chris Bendtsen
Insights Lead, Long Angle
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This material is for informational purposes only and is not investment advice regarding any security or investment strategy. Long Angle does not provide legal or tax advice, consult your attorney, CPA, or tax professional regarding your situation.
Long Angle Management, LLC (Long Angle), is an SEC registered investment adviser firm. Registration does not imply a certain level of skill or endorsement. Investing involves risk, including potential loss of principal. Past performance is not indicative of future results.