With more complex financial portfolios creeping into their lives, rich investors are actually hiring advisers to advise their advisers, Dow Jones reports.

Because 7.7 million individuals in the world possess more than $1 million in assets and the group of investors with more than $30 million in assets is growing even more rapidly, many of these investors are hiring managing advisers.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.