According to Financial Services Provider, Fidelity, a Family Office costs in the region of 1% of total Assets Under Management. While 1% may not seem like much, with over a third of Family Offices in our network managing more than $1BN of assets, Family Offices can cost upwards of $10M a year.
With tens of millions at stake, cost-cutting has never been more important and with 60% of those costs spent on staffing and staff related costs, we think hiring is the perfect place to start.
Download our short guide to cutting costs to discover:
- Our five top tips on cutting costs in the Family Office
- The percentage of Family Office costs spent on hiring and related staff costs
- The number of Family Offices ‘going virtual’ to cut costs
- How bringing resources in-house can cut up to 80% of Family Office costs
Download the guide here.