A recent study from the London School of Economics explores the emerging trend of the 'family office,': the name given to private, full time funds of the super rich. The study says more attention should be paid to such groups that employ teams of professionals to ensure the safe keeping of the 'dynastic wealth' of the ultra rich
The concentration of extreme wealth in London has seen a rise in the use of "family offices", the study says The ultra-rich in London are increasingly protecting their wealth through the use of "family offices", says research from the London School of Economics. These are teams of professionals - such as lawyers, financiers and psychologists - employed to ensure the "dynastic wealth" of the super-rich. These offices work for families worth at least £200m, says the study. Researcher Luna Glucksberg says their role "demands scrutiny". The study, from the LSE's International Inequalities Institute, says more attention should be paid to the rise of such "shadowy" family offices, which are employed full-time to protect the interests of their "elite families". The study describes how they support a "bunkered" and "fortified" way of life of the "global super-rich".