Difference in what PWM between IB, Consulting and Law firms do?
Hey Monkeys.
I am a bit confused on the scope of what the private wealth management arms of big law, big 4, and investment banks do differently to one another.
I am fairly certain big law wouldn't do any wealth management themselves, rather they're focused on setting up trusts / funds / family offices / structures and governance.
Furthermore, I believe in an investment bank / global bank, a high net worth client would just be brought into the bank and managed by their internal team, but would the bank still provide legal services + support?
Finally, I have no clue what a Big 4 consultant would do in PWM. I guess bridge the gap between big law and IB for a HNW individual?
Would really appreciate if somebody could flesh out the scope of these different streams for me.
Cheers.
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