Ferrari problems

Why you shouldn't give your son a Ferrari

A spate of high-profile accidents during the past few months involving fast cars and rich heirs is trying the patience of leadership — and the common man — across Asia.
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Ferrari 458 Spider: A popular choice among princelings
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<div style="text-align: left;"> Ferrari 458 Spider: A popular choice among princelings </div>

A Ferrari has long been a red flag for cops, who may reasonably assume that the driver is inclined to speed.

But in Asia, it has also become a red flag for wealth advisers, who may fear the threat that it represents to a family’s reputation or its political standing. Even so, such decisions are clearly not within their remit. If a senior party cadre cannot control his unruly offspring, it is unlikely that a financial adviser will have any more luck.

As one private banker said “Look, they get the car, and then I see it and shake my head it’s not something they ask me...

¬ Haymarket Media Limited. All rights reserved.

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