Outlines strategies for fund managers of all types, including mutual funds, real estate funds, private equity, and hedge funds on raising capital in this fiel
Table of Contents
Introduction xi
Part One Family Office Fundamentals 1
Chapter 1 The Family Office Industry 3
What Is a Family Office? 3
The Family Office Universe 5
The History of Family Offices 6
State of the Family Office Industry 9
Who Uses a Single or Multi-Family Office? 10
Why Family Offices? 12
More Money, More Problems 13
Family Office Industry Conferences 13
Conclusion 14
Chapter 2 Family Office Services 15
Ultra-Affluent Clients Have Different Needs 15
Family Office Services 17
Additional Benefits and Life Management Services as a Competitive Advantage 17
Single versus Multi-Family Office Services 19
Differences in Global Family Office Service Offerings 20
Conclusion 21
Chapter 3 Family Office Operations 23
Outsourced Model 23
Family Office Team Members 25
Family Office Investment Committees 27
Board of Advisors 27
Family Office Governance 27
Individual Family Governance 28
From CPA to Family Office CEO 29
Family Office Service Providers 31
Developing a Well-Oiled Family Office Machine 32
Implementing Processes, Procedures, and Systems in Your Family Office 32
Conclusion 32
Chapter 4 The Ultra-Affluent’s Guide to Selecting a Family Office 33
Starting a Single Family Office versus Joining a Multi-Family Office 33
Objective Family Office Selection Advice 34
What Do You Want? 34
Character Judgments 35
Seven Critical Family Office Questions to Ask 36
Family Office Veteran Quotes on How to Select a Family Office 37
Family Office One-Pager Evaluation Form 42
Conclusion 42
Chapter 5 Family Office Marketing 45
Your Client Avatar 46
Crystal Clear Edge 47
Brian Tracy Interview Excerpt on Capital Raising 48
Capital Raising Trifecta 49
Capital Raising Funnel 50
Storytelling 54
Persuasive Writing (Copywriting) 58
Brian Hughes Interview on Family Office Business Development 60
Conclusion 68
Part Two Family Office Veteran Interviews 71
Chapter 6 Single Family Office Interviews 73
Family Office Interview with Michael Connor of Consolidated Investment Group 74
Family Office Interview with Elizabeth Hammack of cm Capital Corporation 88
Family Office Interview with Frank Casey 101
Family Office Interview with John Grzymala 116
Family Office Interview with Matthew Andrade, Director of Investment Analysis at Kinnear Financial 122
Family Office Interview with Angelo Robles, President of the Family Office Association 131
Conclusion 146
Chapter 7 Multi-Family Offices Interview Transcripts 147
Family Office Interview with Charles Grace of Threshold Group 147
Family Office Interview with Lukas Doerig of Marcuard Family Office 159
Family Office Interview with Jeff Colin, Founder of Baker Street Advisors 171
Family Office Interview with Thomas Melcher of Hawthorn Multi-Family Office 187
Family Office Interview with Greg Kushner, Founder of Lido Advisors 200
Family Office Interview with Bob Benson, Chief Investment Officer of Laird Norton Tyee 217
Conclusion 229
Part Three Family Office Mechanics 231
Chapter 8 Family Office Investments 233
Traditional Investments 234
Alternative Investments 234
Venture Capital and Angel Investor Investments 235
Infrastructure Investments 236
Hard Asset Investments 236
Family Office Investment Process 237
Three Family Office Portfolio Construction Models 239
The Operating Business Sandbox Model 239
The Diversified Institutional Model 241
The Hybrid Model 241
Family Office Investment Committees 242
Investment Committee Examples 243
Strategic versus Tactical Asset Allocation 247
Institutional Consulting Firms and Family Office Investing 250
Family Office Interview with David Thomas, CEO of Equitas Capital Advisors, LLC 251
Conclusion 262
Chapter 9 Fund Manager Selection and Deal Flow 263
The Six-Step Fund Manager Selection Process 264
Managed Account Trends 266
Fund Manager Preferences 267
Global Fund Manager Due Diligence 267
Family Office Partnerships with Fund Managers 271
Managing Deal Flow Overload 272
Objective Character Analysis 273
The 6 Cs of Character Analysis 274
Family Office Interview with Evan Cooperman of Artemis Wealth Advisors 278
Conclusion 290
Chapter 10 The Future of the Family Office Industry 291
There Is No Family Office Industry 291
Shifting Investment Criteria 295
Family Office Job Growth 295
Family Office Training 295
New Global Hot Spots 296
Four Global Drivers of Family Office Industry Growth 297
Conclusion 299
Conclusion 301
Appendix: Family Office Newsletter 303
About the Author 305
Qualified Family Office Training 309
Index 311
