Startup Funding Espresso – Before Setting Up a Family Office

Before Setting Up a Family Office

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

A family office manages the wealth of a family.

Before starting a family office consider these points:

What is the asset level of the family office?

The fee is based on the assets under management.

The higher the asset level, the higher the fee.

What services does the family office provide?

The more services the higher the cost.

How much client service do you need?

The greater the client service required, the higher the cost.

Are you ready to start a business?

A family office is a business unto itself which requires attention from you now and your successors later.

What type of investing do you want to pursue?

Each investment category brings a set of risk factors and requires research and management.

Do you want to create a sustainable business?

This requires creating a succession plan and recruiting people who can carry on the business.

Before setting up a family office consider these points to determine if you should and how you should do so.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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