Story perspectives

Family Offices Spend $6.6M Annually Amid Wealth Surge

2/19/2026

Summary

Story summary

A J.P. Morgan Private Bank report finds family offices with more than $1 billion in assets spend $6.6 million annually on operating costs, up $500,000 since 2023.
Consultant Kirby Rosplock said the rise reflects growing wealth and a need for more personnel.
William Sinclair of J.P. Morgan attributed the increase to higher compensation costs for investment talent, as family offices compete with private equity and hedge funds for skilled professionals.

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Story summary

A J.P. Morgan Private Bank report finds family offices with more than $1 billion in assets spend $6.6 million annually on operating costs, up $500,000 since 2023.
Consultant Kirby Rosplock said the rise reflects growing wealth and a need for more personnel.
William Sinclair of J.P. Morgan attributed the increase to higher compensation costs for investment talent, as family offices compete with private equity and hedge funds for skilled professionals.