Illustration: Gabriel Masella
The Big Take
Rich Americans Are Driving a $200 Billion Boom in Complex Bets
Almost two decades after the collapse of Lehman Brothers in the financial crisis, wealthy investors are finally learning to love structured products again.
Gary Garland is putting his money where his advice is.
The 58-year-old wealth adviser just bought $450,000 of structured products, investing a big chunk of his cash alongside that of his clients. He spread his own money over three instruments, including two that should pay out whether US equities rise or fall — but especially if they fall.