AIPIS 115 – Richard C. Wilson, Doing Business with Family Offices and High Net Worth Investors

How do families with a high net worth keep, grow and protect their wealth for future generations? They put their families to work in single, family and virtual family offices. The idea behind the resource is to allow the wealth creator of the family enough time and space to create additional wealth while everyday tasks such as investments and insurance can be handled by industry specialists. Basically, when you are ultra-rich you need someone else to manage your daily and long-term financials to avoid possible costly mistakes.

Key Takeaways:

[1:41] A family office is a money management system for the wealthy

[2:26] There are 14.4K ultra-wealthy people in the world

[4:40] Family office terms: multi, single and virtual

[8:16] We are in the process of crossing the chasm to public awareness

[10:44] The reason Family Offices exist is to curb costly mistakes

[16:20] Investors can use real estate strategically to get more deal flow

[20:42] The Family Office structure should be based on core goals

[23:37] Family members run the family offices for a spectrum of privacy

[24:12] The U.S. is still the #1 place for value growth

[29:24] Traditional and creative ways to provide support to Family Offices

[32:11] Contact information for Richard

Mentions:

JasonHartman.com

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Family Offices

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