Family Offices' Rapid Growth

This is a news story, published by CNBC, that relates primarily to Goldman Sachs news.

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CNBC

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Family offices are about to surpass hedge funds, with $5.4 trillion in assets by 2030

Summary

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82% Informative

The number of single-family offices is expected to rise from 8,000 to 10,720 by 2030 .

They're expected to top $5.4 trillion in assets by 2030 , projecting them to have more assets than hedge funds in the coming years .

Wealth is growing fastest at the top of the pyramid, as technology and globalization create winner-take-all markets and outsized rewards for tech entrepreneurs.

Goldman Sachs , Morgan Stanley , UBS , J.P. Morgan Private Bank , Citi Private Bank are hiring family office specialists.

Accounting firms, tax attorneys, consulting firms and tech companies are also waking up to the power of family offices.

The average family office has a staff of 15 people managing $2 billion , according to Deloitte .

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semi-formal

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English

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