Private Investment Firms Win the Right to Keep Money in the Family
Actress Meryl Streep arrives at the 25th annual Palm Springs International Film Festival awards gala.
Photographer: Charley Gallay/Getty Images for PSIFFThis article is for subscribers only.
Private investment firms in the U.S. that manage the wealth of a single family are winning the right to service in-laws and their relatives.
For the descendants of William E. Simon, Treasury Secretary under Presidents Richard Nixon and Gerald R. Ford in the 1970s, that means they can keep managing money for Meryl Streep and her foundation within their family office.