If there is one company every wealth manager in the world would like to handle the personal accounts of its employees of, it must be Google....

If there is one company every wealth manager in the world would like to handle the personal accounts of its employees of, it must be Google.

A recent article in Business Week said Google’s share price, which has risen by 130 per cent in the past six months alone, has created some very wealthy employees, with an estimated 1,000 millionaires and five billionaires. One in five staff at Google are millionaires, at least on paper, said the Business weekly.

As Buisness Week said: “That makes Google a gold mine for wealth managers, whose eyes well up at the very idea of all the recurring fees that can come from employee assets. Advisors are all over Mountain View (where Google has its headquarters in California), cold-calling Googlers, buttonholing them at geek expos, booking restaurant banquet rooms, and jumping through just about any hoop for a shot at pitching some of the coveted 5,000 employees.”

Google has allowed six firms to make in-house presentations to employees about their services: UBS, JP Morgan, Credit Suisse, Morgan Stanley, and two local wealth managers: Presidio Financial Partners and Sanford C. Bernstein & Co.

But convincing them to give over their money to an experienced wealth manager is not easy, according to the article.

“It's an intellectual sparring session,” Brodie Cobb, managing director of San Francisco-based Presidio, told Business Week. “They do due diligence in spades. They test every hypothesis and never take anything at face value.”

Another wealth manager added in the article: "You're not walking into a room and telling them to jump into this great mutual fund. It's much more complex than that. These are very careful, sceptical people."