Thursday, January 16, 2014

Serving the very rich




The Jan. 2014 issue of Harper's magazine has an article by a writer who took a course in private-service to the rich, hoping to become an estate manager. Has some interesting info on how the very rich live. Eg., family offices, which are private companies set up exclusively to serve the financial & personal needs of a single family. The offices include money managers, lawyers, accountants, & support staff to handle money and investments for the family.

Most people in banking put the minimum fortune necessary to support a family office at $100 million ($100,000,000).

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