Richard C. Wilson discussing his new book, How to Start a Family Office: Blueprints for setting up your single family office. Hello. This is Richard Wilson and today I wanted to introduce to you my latest book, How to Start a Family Office. This is actually the 10th book that I’ve written, but I’m really excited about this one because it’s so niche-focused. What I found is that most people don’t have a burning problem of not knowing what a hedge fund is or not knowing what a family office is. If you want to figure that out, you can find a Wikipedia page, you can find a one-minute YouTube video and you can solve that headache very quickly. What I found is that $100 million net worth 800 million, $4 billion net worth families have migraines that last them a year, or two, or three over how to formalize their holding company into a family office, or how to hire the right staff, or how to create their family charter document, or how to get access to deal flow without dealing with sell side brokers, without dealing with auctions situations where they’re paying far more of a multiple on profits than they should be. And so what this book does is try to help solve that headache that can be ongoing for families looking for a holistic, high power, well-coordinated effort to manage their wealth rather than have it done by a private bank or a disjointed team of professionals that may or may not have communication between them or your best interests in mind. So that’s why we wrote this book. It’s short, it’s only about a hundred pages, but it includes about 20 video modules. We also have interviews in here with single-family offices as well as a ethics template, a governance template, some information on a deal flow and structuring your team around this type of single-family office you want. And most importantly in this book we really communicate over and over again that if you don’t start with why you want a family office, what your goals are, what your family mission and values and preferences are, everything you spend money on, it could be a waste or the amount of risk you take, it could be way off from what your family is actually comfortable with and it could cause your family to be torn apart. So we go over things in here that are mechanical, logical, but also could prevent families from having a lot of turmoil, and chaos, and trouble between family members in between the relationships inside the family, which is just as important, if not much more important than the capital investment side. So I hope that if you are looking to start a family office or if you work in the space and advise a lot of families looking to formalize their holding companies, you’ll pick up a copy of How to Start a Family Office. It’s on Amazon, very inexpensive, and I hope you’ll find it direct, to the point, and a nice resource guide for you. So this is Richard Wilson coming to you from the Family Office Club here in Key Biscayne, Florida. And thank you for taking a look at the book.
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