Expertise war between family offices and Wall Avenue drives up salaries

Important Points

Wealthy households are investing an ordinary of $3 million to operate their personal investing wings, recognised as loved ones workplaces, according to a J.P. Morgan Personal Bank report.
The major expense is staffing, which has turn into more high-priced as relatives offices have tripled in number about the past 5 several years.
That’s primary to opposition for expertise with banking companies, personal equity companies and hedge cash.

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