For years, family offices were invisible, operating in nearly complete privacy. In recent years however this has changed, with many of them running investment vehicles that are publicly marketed, transparency has entered the fray. Now that they’re on our radar screen, how should we view them? How do we interact with family offices in a way that is complementary to us and to them at the same time? We interviewed the industry’s top expert for insight on this subject.

Richard Wilson is the CEO of the Family Office Club, the #1 largest association in the family office industry, which has over 102,000 registered members from 100+ countries. We spoke with him to gain insight into what these organizations look like from the inside, from how they think about investments to hiring staff and running their operations.

In this episode of Bulls, Bears, and Bowties, listeners will learn:

[1:10] His vision for his organization the family office club and the family office space going forward

[1:46] The mega trend around family offices and high net worth wealth

[3:14] Family offices typically have desired to stay private and “off the radar.” How does this mix with the new age movement towards transparency that we’re seeing with family office running hedge funds, pension funds, and the like?

[4:28] Is there really a shortage of good investment talent in family offices? The challenges that family offices face in finding and hiring qualified investment professionals.

[7:24] Family office nomenclature: single family office, multi-family office, outsourced CIO model, virtual family office model. What does it all mean?

[12:17] The biggest similarities and differences that Richard sees between family offices.

[16:47] How family offices make investment decisions and source great investment ideas.

[19:11] The risk of over-diversification when making a direct investment

[22:06] How to avoid hiring the wrong family members or staff members to run the family’s wealth, the importance of cultural fit, etc.

[26:06] How to get a meeting with a family office – the three trust curves that you should know when approaching a family office

[28:32] Recommended reading

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Greg Silberman is the Chief Investment Officer of ACG Investment Management LLC (“ACGIM”). ACGIM specializes in creating custom private market solutions for RIA/Family Office clients.

This material is provided for informational purposely only and is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The views and strategies described may not be suitable for all investors. Past performance is no guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested. You cannot invest directly in an index. The opinions expressed are subject to change as subsequent conditions vary. Reliance upon information in this material is at the sole discretion of the viewer. Advisory services offered through ACG Wealth Inc.  ACG Wealth Inc. is an affiliate of ACG Investment Management, LLC.