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Wealth Management Lawyers

History

Lawyers have provided legal advice to corporations ever since the first corporation (the Stora Kopparberg Mining Company in Falus, Sweden) was chartered by King Magnus Eriksson in 1347.

As of 1880 in the United States, there were 335 chartered business corporations, most having been chartered after 1790, according to Essays in the Earlier History of Modern Corporations, by Joseph S. Davis. Most of the new corporations chartered in the early 1800s were involved in public services of some kind, such as banking and insurance.

In the latter half of the 19th century, the number of wealthy people grew as a result of the industrial revolution and other factors, and a variety of wealth management firms (including banks that offered these services) were founded to serve the needs of the affluent. These firms and high-net-worth individuals hired lawyers to provide advice on estate planning, contracts, tax issues, and other financial-related issues.

The growth of international business, the increasing government regulation of WM firms, and the rising number of high-net-worth individuals is fueling strong demand for wealth management lawyers. 

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