Real Life Succession: Family Offices Explained - A Not Comprehensive Guide for Wealth Management

#finance #investing #business #wealth

[AFNick]

When you have a net worth >$150M its cheaper to start a family office than paying an advisor a 1% fee to manage it. That's the only logical reason for it.

It is also a job creator for a high paying/low stress/high prestige jobs for children in the family.

[allenadler]

Hey guys - the content of your rants is kind of interesting. But the certainty with which you speak is kind of ... alienating. My two bits!

[SonoftheLivingGod]

Proverbs 13:22
A good man leaveth an inheritance to his children's children: and the wealth of the sinner is laid up for the just.

[darbsllim]

Bro has family office clients but non-ironically uses the cringe phrase “late stage capitalism” … self-flagellation

[ernestoberger]

It is an established fact that a fortune tends to dissipate within a couple of generations after the ones who created it. So, I think that a family office with good governance rules is not about ego but assuring that your grandkids don't suffer from your kids' stupidity.