Wall Street Journal

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Do the Wealthy Trust Their Advisers?

The more money high-net-worth investors have, the less control they want someone else to have over it.

Those are the findings of  a new survey from the Institute for Private Investors, a New York-based networking association for families with at least $30 million in assets. The survey found that 32% of members with less than $50 million in assets are comfortable giving their investment manager full discretion to make changes to the investment strategy as they see fit.

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