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Mr Family Office

@MrFamilyOffice

Jan 28

Family Office interview questions:

1. Cultural Fit

Do you have any experience working in a similar-sized team? If so, how easy was it for you to work in that close knit environment? If not, how would you try and adapt?

Would you call yourself a natural leader? If so give me an example of a situation in which you have to lead a team through a challenge

Would you want prefer to have total autonomy in your work or would you prefer to work with guidance from others?

Do you enjoy working on a range of tasks or would you prefer to work solely in one position? Why is that?

Have you had any experience with the family’s culture?

How do you like to approach your day? How is your workload and daily/weekly schedule managed in your current/past role?

Are you a person who enjoys challenges? Why?

Have you had experience reporting into multiply managers or stakeholders? If so how did you manage this reporting structure?

2. Problem Solving

Please provide an example of a past problem you have come up against in a similar context

How did you solve it? How did the solution benefit the company?

How do you solve a problem if it is not a skill set or task you have experience in or are familiar with?

Have you worked with the advice of external advisors? If yes, how have you identified they are the correct person to assist you?

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Mr Family Office

@MrFamilyOffice

Jan 8

If you provide services to family offices, you need to know what is outsourced and what is done in-house

Here's a summary, including a breakdown by AUM:

1. Financial Asset Management

$50M to $500M AUM

$501M - $999M AUM

Read 14 tweets

Mr Family Office

@MrFamilyOffice

Dec 21, 2024

The wealthiest families in the world hold secrets that are passed down through the generations

Educational secrets that even the most exclusive schools don’t teach

Wealthy families rarely rely on schools to teach kids about finance

Family offices curate exclusive financial education programs. Programs delivered through private agencies, Ivy League universities and specialist organizations

12 lessons on financial education from Family Offices:

(and tips for any family)

🧵

Lesson 1: be open

Successful UHNW multi-generational families talk about money. They are not coy

It’s part of everyday life to talk about business, wealth and money. Business-talk at the dinner table is encouraged

Wealth brings opportunities and problems. But if wealth is a taboo subject, opportunities will be missed and problems exacerbated

A lot of people think they are helping their kids by shielding them from financial matters. But like any topic, to master it, you need to be consistently exposed to it

Lesson 2: start young

That doesn’t mean telling wealthy toddlers their net worth

It means teaching kids about:

- the history of the family wealth
- the scope of the wealth
- the family values

As they get older, focus can shift to areas such as budgeting and saving. Then investing, tax, credit, finance, philanthropy

Kindergartens and schools don’t teach finance... It’s on you

Read 14 tweets

Mr Family Office

@MrFamilyOffice

Dec 19, 2024

UBS interviewed 82 billionaires

Here's what they said about:

• the regions they're investing in
• their asset allocation shifts

1. where billionaires are investing

80% of billionaires see North America as the best investment opportunity over the next 12 months, up 30% from 2023

68% maintain confidence in North America over the next five years

Asia-Pacific (excl. China): 25% short-term optimism, rising to 45% over five years

China: 11% short-term optimism, increasing to 31% over five years

Western Europe: 18% short-term optimism, climbing to 29% over five years

Regions like Middle East, Latin America, Eastern Europe, and Africa are seen as having limited short- and medium-term opportunities

North America Dominance: driven by technological innovation (generative AI, GLP-1 drugs) and energy security, billionaires favor North America for both short- and long-term returns

Shifting Views on APAC and China: short-term confidence in Asia-Pacific and China is muted, but expectations grow over five years

Western Europe’s Moderate Rise: investment sentiment strengthens moderately for Western Europe over the medium term

2. what billionaires plan to invest in

Billionaires' asset allocation shifts:

43% plan to increase exposure to real estate

42% plan to increase exposure to developed market equities

40% intend to increase gold/precious metals exposure

31% plan to increase cash holdings

Interest rate easing:

Views on asset classes are changing as interest rates in the US and Europe may start easing, potentially boosting economic growth

Alternative investments: 38% plan to increase direct private equity holdings

28% plan to increase private equity funds/funds of funds, while 34% plan to decrease

26% intend to increase infrastructure investments

35% plan to increase private debt

Hedge funds are less favored: 27% plan to decrease, while 23% aim to increase

Art and antiques: 32% plan to increase exposure to art and antiques, a significant rise from 11% the previous year

source: UBS Billionaire Survey, 2024

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Mr Family Office

@MrFamilyOffice

Oct 22, 2024

what is a family office:

A single-family office (SFO) is a private wealth management firm supporting a single affluent family

It manages investments, tax planning, legal support & other financial matters

Core roles:

1. Protecting wealth
2. Growing wealth
3. Financial Planning
4. Succession Planning
5. Administration
6. Charity and philanthropy
7. Governance

1. Protecting wealth

"I don't want to get rich, I want to stay rich"

Protecting wealth is traditionally the raison d'etre of the FO, it involves:

• Creating trusts and other legal structures, to preserve wealth within the family and shielding it from outsiders, former spouses, tax authorities
• Continuous monitoring of investments and the market to identify and mitigate potential dangers
• Implementing diversification strategies

Read 10 tweets

Mr Family Office

@MrFamilyOffice

Sep 10, 2024

Deloitte Private released a major family office report this week

8 key takeaways
Some truly mind-blowing numbers ↓↓

1. Family office expansion explodes

• 8,030 single family offices globally today, up from 6,130 in 2019 (31% increase)
• Projected growth: 12% to 9,030 family offices next year
• Expected increase of 33% to 10,720 family offices by 2030
• This represents a 75% increase over a 10-year period

2. Family offices are becoming an economic powerhouse

• In 2019, total wealth for families with family offices was $3.3 trillion
• Today, it stands at $5.5 trillion (67% increase over five years)
• Projected growth: $6.9 trillion by 2025 (26% increase)
• $9.5 trillion by 2030 (73% increase from today, 189% increase from 2019)
• Family offices' total AUM is $3.1 trillion today, expected to rise to $5.4 trillion by 2030 (73% increase)
• North America is projected to see the greatest increase in family wealth and AUM, with a 258% rise by 2030, followed by Asia Pacific at 208%

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