Wealthy families “may like the idea of setting up a family office in principle”, but should carefully consider the costs of doing so, according to Michael Troth, Citi Private Bank’s head of trust and wealth planning, and family office for Asia Pacific, who told Asian Private Banker that many families only discover the real costs once the office is up and…
At 1-2% of active assets, don’t discount the cost of running a family office: Citi PB
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