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GENERATIONAL WEALTH is the practice of passing down significant financial resources to future generations. But 70% of wealthy families will lose their wealth by the second generation and 90% by the third.
Why does this happen and how do Family Offices prevent this:🧵
Why does this happen and how do Family Offices prevent this:🧵
Generations are taught not to talk about money, so the next generation may have no idea about the value of money or how to handle it.
This may be driven by worries that the next generation will become lazy and entitled, so wealth is kept a secret.
This may be driven by worries that the next generation will become lazy and entitled, so wealth is kept a secret.
The next generation grows up in a life of plenty and may not understand the struggles and sacrifices of the previous generations.
Building wealth takes hard work and discipline. The further you are away from that, the more difficult it is to understand.
Building wealth takes hard work and discipline. The further you are away from that, the more difficult it is to understand.
Looking for a career change? The #FamilyOffice industry could be the right for you.
From investment advisors to gardeners, a 🧵 on the jobs and salaries in the Family Office world.
👩👩👧👦🧑🌾👩🍳🍼💹💱🪙💲💸🚗👨🏫👨💼💼
#familyoffice #career #job #jobsearch
From investment advisors to gardeners, a 🧵 on the jobs and salaries in the Family Office world.
👩👩👧👦🧑🌾👩🍳🍼💹💱🪙💲💸🚗👨🏫👨💼💼
#familyoffice #career #job #jobsearch
Investment Advisor/Manager: These professionals are responsible for managing the investment portfolios of the clients and ensuring their wealth grows.
Typical salary range of $80,000 to $250,000.
Typical salary range of $80,000 to $250,000.
Wealth Strategist: They help families create and implement a wealth plan that aligns with their long-term goals and values.
Typical salary range of $150,000 to $300,000.
Typical salary range of $150,000 to $300,000.
Attracting the top talent.. from CEOs to analysts, what are Family Offices paying their people? 🧵
💵 Average base salary of a US Family Office CEO is $556,100, total compensation including bonuses is $1,130,500
💵 Top 10% of Family Office CEOs in the US earn $1,520,000
You should NEVER pitch as a pair or a team. When fundraising, you've got to pitch.
Always have only ONE person doing this.
It's (barely) OK if multiple people fundraise, especially in the very early days. But you should always let 1 person lead any given relationship.
Always have only ONE person doing this.
It's (barely) OK if multiple people fundraise, especially in the very early days. But you should always let 1 person lead any given relationship.
Don’t co-pitch.
Once the company is off the blocks, one person should then lead ALL fundraising activities.
Two people (or more) pitching means more possibilities for a fuckup.
All an investor needs is a bad feeling about 1 of the co-founders and it’s over.
Once the company is off the blocks, one person should then lead ALL fundraising activities.
Two people (or more) pitching means more possibilities for a fuckup.
All an investor needs is a bad feeling about 1 of the co-founders and it’s over.
If you talk over each other, it's also over.
Worse: team pitching makes the whole pitch less clear and precise. The more people in a call, the less time you'll have to make an impression in those precious 15 to 30 minutes you get.
Worse: team pitching makes the whole pitch less clear and precise. The more people in a call, the less time you'll have to make an impression in those precious 15 to 30 minutes you get.
#AMC #GME @cvpayne For some time now I've been trying to get a handle on the "economy", viewing it from the perspective of the regulators, congress, and the financial industry.
How do the above entities view the "economy" and its priorities on a nation?
How do the above entities view the "economy" and its priorities on a nation?
I place quotes around "economy" because I want to convey that I'm not just talking about production and consumption within a country. I'm thinking more of a golden calf, a tangible thing but no less real.
At some point in history, the "economy" was lifted up to be the linchpin of the country. As the economy goes, so goes the country. True enough, it became so big that government doesn't understand banking and finances, so they just handed it over to regulators.
The @UBS 'Global #FamilyOffice Report 2019' holds some interesting #Insights...Some takeaways (1/10) ubs.com/global/en/weal… #GlobalTrends #Investing
2/10 #FamilyOffice #trends: General overview...Recession fears rising, returns fade, #PE best performer, #RE gaining traction, #ESG & #Tech is best longterm plays, #Geopolitics risks rising & #CyberSec is key concern...
3/10 #FamilyOffice #trends: The family office trend really got on it's way since 2000 with the GFC acting as further catalyst as wealthy families got tired of what the major Wall Street players served up & decided to take control and bring key functions in-house...#Wealth
A #thread on the largest wealth transfer in history
This comes from the notes that I took in August when attending the Private Wealth Forum in Palm Beach this year
#wealthpreservation #wealthcreation #investing #familyoffice
This comes from the notes that I took in August when attending the Private Wealth Forum in Palm Beach this year
#wealthpreservation #wealthcreation #investing #familyoffice
- US$48 Trillion are going from Baby Boomers to Gen X and Millennials
“People worry more about not having enough money more than taxes” - Vincent Munno
- US$122+ Trillion in UNFUNDED liabilities (USA)
- 328 Million population (USA)
“People worry more about not having enough money more than taxes” - Vincent Munno
- US$122+ Trillion in UNFUNDED liabilities (USA)
- 328 Million population (USA)
- 122 Million taxpayers
- 116 Million benefits recipients
This means that taxes MUST rise.
- 116 Million benefits recipients
This means that taxes MUST rise.
