The professional services group PWC has just produced a report on managing your wealth. Aimed at the very wealthy, mostly in the US, but also for families with cross-border interests, it must be one of the most boring documents WealthSpike has ever read.
It goes on for around 150 pages and is about as appealing to read as an engineering manual on some obscure car engine part. To be fair, WealthSpike didn’t read it all, actually we just skimmed it, so hidden in the depths of the prose might be some interesting points. It would be fascinating to know who among the super-wealthy reads this stuff…such long and arduous reports are the antithesis of entrepreneurship.
But WealthSpike has a theory on these types of reports that emanate mostly from the professional services groups. The idea is to make such content as boring and as inaccessible as possible so the wealthy employ the likes of PWC advisors to decipher it for them. After all this is where the real money is – advisory fees.
OK, that may sound all a bit cynical, and there are points in the report that probably have real resonance – that’s why we’ve put in a link above for readers to make up their own mind.