Costs of Running a Family Office

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

There are costs to running a family office.

Here’s a list of cost categories to budget for:

Professional costs including the services such as tax, accounting, and financial.

Family expenses such as living expenses, travel, healthcare, and taxes.

Facilities costs including communications, technology, and administrative overhead.

Financial costs including advisory management fees, research, and reporting.

Here are other factors to consider as well in estimating the cost:

Complexity of portfolio -- the greater the number and variety of investments, the greater the cost to manage.

Number of services -- the more services the family office provides, the greater the cost.

Number of tax jurisdictions -- the more jurisdictions, the higher the cost.

Number of legal entities -- the greater the number of legal entities, the higher the cost.

A rule of thumb is that the cost of investments and family office costs should be no more than 1% to 2% of the family office assets.

Check your family office to see how the costs compare to the assets.

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.

_______________________________________________________

For more episodes from Investor Connect, please visit the site at: http://investorconnect.org 

Check out our other podcasts here: https://investorconnect.org/ 
For Investors check out: https://tencapital.group/investor-landing/ 
For Startups check out: https://tencapital.group/company-landing/ 
For eGuides check out: https://tencapital.group/education/ 
For upcoming Events, check out https://tencapital.group/events/  

For Feedback please contact info@tencapital.group   

Please follow, share, and leave a review.

Music courtesy of Bensound.

In this episode of Investor Connect, Hall T. Martin chats with Charles Albanese, a financial expert with over 30 years of experience across major corporations and startups. Charles shares his journey from AT&T Wireless to his current role at Keiretsu Forum, highlighting key strategies for raising funding. He discusses the importance of thorough planning, understanding investor needs, and effective communication.

Charles also provides insights into Keiretsu Forum, the world's largest network of angel investors. He explains how Keiretsu’s rigorous vetting process and collaborative due diligence help mitigate risks and support high-quality investments. With chapters worldwide, Keiretsu offers a robust platform for investors and entrepreneurs to connect and succeed.

Hall and Charles delve into the intricacies of financial management and strategic planning. Charles’s diverse background enables him to offer practical advice on maximizing profitability and building strong teams. The discussion is filled with relatable anecdotes and valuable lessons for both novice and seasoned investors.

Hall's engaging style and Charles’s expertise make this episode a must-listen for anyone interested in the world of angel investing. Whether you’re looking to raise funding or simply understand the investment landscape better, this episode provides actionable insights and strategies to help you succeed.

For more insights and to connect with Charles Albanese, visit his LinkedIn profile here https://www.linkedin.com/in/cdalbanese/, check out the Keiretsu Forum Mid-Atlantic website: https://keiretsuforum-midatlantic.com/, or reach out via email at calbanese@keiretsuforum.net.

________________________
For more episodes from Investor Connect, please visit the site at: http://investorconnect.org  
Check out our other podcasts here: https://investorconnect.org/  
For Investors check out: https://tencapital.group/investor-landing/  
For Startups check out: https://tencapital.group/company-landing/  
For eGuides check out: https:/_/tencapital.group/education/  
For upcoming Events, check out https://tencapital.group/events/  
For Feedback please contact info@tencapital.group   
Please follow, share, and leave a review.
Music courtesy of Bensound.