The initial question that may come to mind is what on earth is a Family Office? The second is similar to the first in “why would I care about a Family Office?”
The reason you should care about a Family Office is because this is what allows the Rich to become Wealthy and stay wealthy in the process. In a simple definition a Family Office Manager, Facilitates and adds wealth for the betterment of a family. For example, Paris Hilton is known to be in the tabloids causing chaos. But have you wondered how the Hilton family maintains their wealth?
No, it’s not from their hotel ventures or the escapades of Paris. Instead it is a dedicated team called the Hilton Family office, whose sole purpose is to add assets and growth to the war chest of the Hiltons year after year and quarter after quarter. Most of these family offices perform acquisitions and corporate takeovers in the dark so that they public is never aware.
Pretty neat right?
Every family office is different just like every family is different.
“But, as one U.S. Supreme Court justice said about pornography, you might not be able to define it but you know it when you see it.”
The same can be said in reference to a family office. The goal is to grow the wealth year after year so that they family or heirs are not responsible to handle these demands.
What makes a Family Office different from what the average American worker uses on wall street?
Well… it’s pretty simple. The average american does not have someone who has their back when it comes to investing. As a matter of fact, the average American does not even have a fiduciary.
The beauty with a family office is that it is a team of bright top graduates from highly sought after Ivy League universities. Not only are these people the best at what they do, they’re also compensated proportionally. The best part of it all is that in the event that a member of the Family Office team loses revenue or wealth for the family … they are personally responsible with their own personal assets…. TALK ABOUT PUTTING IT ALL ON THE LINE!
Yes.. these professionals are responsible for the money that they manage all the way to jail and bankruptcy.
The average American simply does not have people like this on their side, they would not know where to begin to receive that type of expertise or assistance to grow their wealth.
In order to start your own family office you must have a minimum of $50,000,000 in liquid cash reserves.
These same family office representatives are the reason why people are able to get in on IPO’s before you hear about it, local developments before it hits the newspapers and political swings that push our economy.
How do I know this???
Well one of my mentors is a manager of a Family Office.
Believe it or not the average American does not have an excess of $50,000,000 to start a Family Office in order to advance their family forward for generations to come. However I can give you an unfair advantage by letting you know some of the tricks to the trade I’ve learned from Mentor.