The most effective $100 million-plus families typically split their portfolios into three compartments.

[10:45]

"the most common elements I found is that the most effective 100 million dollar-plus families out there are typically, not always, but typically, breaking up their portfolios into three compartments."

[69:06]

"We did a 180 family office benchmark study and found that 75% of them were investing in real estate outside of their private homes, and then it made up an average of 25% of their portfolio."

[26:54]

"The worst way is to blast 500 people something, hoping that 20 will reply and 4 get on a phone call and 1 invest. It's just not how credible trusted business and big deals get done. You need to take a crafted approach."

Full transcript

All right, welcome everybody to the family office Q&A webinar. Today we're going to be going through questions that you have. We're gonna be getting in a lot of questions from participants. I'm sure I see that we've got a couple hundred people here on the line already and we're also live streaming here via YouTube as well today. So welcome those who are watching on YouTube.

We're gonna be sending out a thank you email, kind of a replay of this webinar, the recorded version. But the benefit of being here live is you'll get to ask pretty much any question you'd like. The only questions like to stay away from are obviously anything political or just, you know, pitching you're very specific deal. That's really not going to help anybody else who's here on the webinar or listening to this in the future.

So I'd like to keep it, you know, with other people listening in mind and not pitching your very specific deal. But we're happy to answer pretty specific questions as we go and I bet we'll get through 50 or 75 questions, if not more. So we're going to be moving quickly through about 10, 15 slides here going over some very basics about the family office club, why we're doing this, who we are, to kind of set some context up. And then I'm going to be going through the top questions we get every single day here at the family office Club and then we're gonna jump right into the Q&A up until about 12:45, 1250 Eastern Time, and then we're gonna go into exactly what it means to be a member in the family office club: what is charger membership, what's included and why we have over 800 members within the program and the platform today.

All right, so to begin with I'm gonna show this slide. For those of you they're just watching visually, you'll need, they'll be needing, to dial in to this number to get the audio feed going great. So before we talk about anything, we're going to be answering questions from people all over the world. We have over 300 people logged in now and there's more logging in every second.

So some of the answers you might not be able to use in your jurisdiction if you're in Malta or Australia or Singapore or the United States or Nevada versus New York, or one legal structure versus another. I you know you should always seek counsel before taking action on anything. Also, I want to start out pointing out that my name is Richard Wilson. I'm the founder of the family office Club.

I've been running it for 12 years now and the family office Club is a platform that helps connect family offices to each other. It helps connect those that are looking to raise capital from family offices or serve them, and it provides thought leadership to people on both sides of the coin. So we provide helpful resources and tools, such as for books were published on family offices, 115 live events and that helps somebody who, like the guy who cold called me yesterday, who's worth a hundred million dollars, he's looking to set up and formalize this family office. He said he felt like he's driving through fog trying to figure things out.

On the other hand, it also helps those who are trying to get a self-storage deal done or a private equity deal, and we have the number one most registered family offices. Out of all of the family office networks and associations out there. We have more registered family offices than anyone else. We also have something called the family office podcast.

You might be listening to a recording of this right now on the podcast, if you are. Thank you, and thanks for leaving us a review there. If you're a podcast listener, please check it out and subscribe. Put out 2 to 3 pieces of content every week and a lot of dynamic interviews and some discussion panels from onstage at our events.

You can get a little taste of what's going on at our live conferences. We've had the number one best-selling book in the family office industry for a couple of years and we've written books on single family offices, the first one ever written on that. Our latest book is called cent a millionaire migraines, with a book out on capital-raising. We've just found that the more helpful thought leadership we put out, the more relationships we build and the more.

The byproduct of that is really more family office understanding, because we're interacting with so many family offices every week, and also more deal flow, which makes us more valuable to the family offices and, unlike other companies that are a conference company, we really see ourselves as a form in a community. So we're looking. We're more valuable to investors because of all of our deal flow that comes from our capital reason workshops in capital raising calm, and we're more valuable to those raising capital because of the contracts we've signed with over 25 families worth a hundred million dollars or more. We understand their headaches and what's it looking for.

We also have the most visited website in the industry, you've probably been there, if you're here on the webinar live today, which is family offices, calm and of the books were published, we're showing some here on the screen. The only other one I want to point out is the family office book, originally done through Wiley. It was one of the earliest books on the industry and we got into the space very early, 2006, 2007, and since then it's really grown and we're gonna talk about that within the questions and I think that the important thing to realize is we're at the beginning of a 30-year trend here. So being on this webinar here today, we're gonna help grow your specialized knowledge and really you are an early mover if you take action within your subnet.

In the family office space, there's still a lot of open ground and territory where you could be adding value and be the leader in your space. As it pertains to working with family offices, there's hundreds of niche opportunities related to the industry, and what we've been doing is running the family office Club and then we work with families that are, you know, were 30, 50 million plus. Closer you get to a hundred million dollars more. You need a family office and we're really dialed in and most specially equipped to help those that are worth 100 million dollars plus.

So for that reason, the name of our advisory firm is called symptom millionaire advisors and our website for that is symptom millionaires comm, and I've just got some examples of clients we have signed over the past 10 years that are worth a hundred million dollars plus. You can see they're from all different industries: real estate, consumer products, food, senior living, etc. All right, one thing I wanted to emphasize is that we can provide, through this webinar and our content in our books and podcast, a view of the forest. We have over 300 investors speaking on stage at our events every year.

We've done 116 live events. We work with a lot of clients today and so we know what their struggles are and we can help see what the golden threads are. What are almost all family offices complaining about? What do most family offices want to pay with fees, what are the preferred structures, etc. And that comes from our point of view of just interacting with them through our event in London last week, our event in New York next Wednesday, our event in Dallas at the end of this month, may 31st.

All of that provides us with a unique point of view that we can provide to you. We also have the point of view of running an investor relations agency, marketing agency called pitch Dexcom, or put together materials for clients and can help you with your investor relations positioning, whether your wealth management firm, multifamily office, an investment manager of some type, and we've learned a lot by having that division in place. That's another perspective we can bring to this call. And then, one thing I want to make sure and emphasize early on before we jump into questions is that we are in many different cities every year, Chicago, Miami, New York, San Francisco, Singapore, Dallas, and we have different types of events.

And many times people come to the family office club to come to our private investor summits and they don't even realize that half of our events are fast-moving workshops and we go through small group exercises, practical worksheets, so that by the end of the day you look at the 30 strategies we presented on closing more deals and you decide which, 10-15-20, you want to be using an employee in your company and that way you leave with practical things you can implement right away. So encourage you to check that out. On the home page of family offices comm you can see all of our upcoming events. We're always updating that three to five months out and then also on the specific pages for the events coming up, you can click there and learn more about them so you can get get the details on where it is the agenda, etc.

I want to make one quick point about sent to millionaires. Many people haven't heard that term before. You might be on this pod, this webinar recording not even having heard the word family office before or knowing what it means in a family office, is really a solution for the ultra-wealthy. That's more holistic, more full balance sheet, more 360 degrees.

They have less chaos, less stress, may make less half-a-million-dollar mistakes or million-dollar mistakes and be more effective at investing. So the important thing here to realize is that the family office term has been around a long time, but 10 years ago almost no one had heard of it and now most of the ultra-wealthy still haven't heard of it. But there's over 15,000 family offices globally and that's growing all the time. And now there's another word that's being used more again.

We didn't invent this word. It's just like the word billionaire, meaning a billion dollars plus cent. A millionaire means a hundred million dollar-plus, and the interesting thing to realize is that everyone wants to chase the Mark Cuban's, the famous billionaires. You might be very proud to sign a client with a billionaire, but the amount of effort it takes to get through their gatekeepers, fight for their attention, and just the swarm of people coming at them every minute of the day is extreme.

And there's only 3,000 of them globally. So if you compare that descent to millionaires, there's 20 times as many of them. It's not just 3,000 billionaires, it's 55,000 since millionaires, and the number is growing at both the cynthy and the billionaire level. And with since millionaires, it's not just more of them, there's less people chasing them. When you get their attention, they have less gatekeepers.

They have more energy to invest in getting to know you, perhaps because they don't have their attention dissipated as much. So I think this topic is sent to millionaires. You're gonna see coming up a lot more in the future and a decade from now. I think it's gonna be talked about in the media just as much as the word billionaire does, and we're putting a lot of emphasis on that on our education and that that's why our advisory firm is called cent a millionaire advisors.

One question I know I'm gonna get is: how do family offices manage their portfolios? How do they invest? I get this at all of the 200-plus speaking engagements I've done in 14 countries and the most common elements I found is that the most effective 100 million dollar-plus families out there are typically, not always, but typically, breaking up their portfolios into three compartments. The first one, if you're watching along visually, is a diversified market exposure component and this is the area where they're doing traditional wealth management: stocks, bonds, commodities, fund managers, ETFs, beta exposure, maybe trying to get alpha through some great managers, etc.

That's the first compartment, usually totally outsourced unless they created their wealth in that area. The second area is cash flowing: conservative real assets, real estate, things that are have collateral behind them, are tangible and they may have a property manager helping them manage it. They may go through an independent sponsor and some portion might be ran by a fund manager. But in this area they're typically choosing things deal by deal.

They're a little bit more hands-on, but importantly it's tangible and cash flowing and long-term, medium to long term oriented. And then in the third area is usually where they have the most control. This is area where they're investing in space where they created their wealth. Maybe they created their wealth and Senior Living, so for them that is their direct investment portfolio or they have maximum control.

But for many it's stem cells or consumer products or manufacturing of auto parts etc. And go into that area and having maximum control to others might look like the riskiest part of their portfolio, but they might be the leader in that market and they've superior information, connections, distribution etc. And that's usually where they want the most concentration. And then the real estate portion is where you have a moderate degree of control and concentration.

And what I found is that when someone says, oh yeah, I want full control, that's why I want a family office, it's not that simple. You have to look at all three of these compartments and what do you want? Control over just the strategy, or do you want to be controlling the sourcing of deals, or do you want to control the due diligence? Do you want to control the management and the exit?

Usually you don't really want to control all of it, especially not with in more than one compartment. Usually it's in one compartment you want to control all of it or most of it, and then another compartment you might just want partial control and another one you might want little control. So I think that's important to bring up and it's gonna be relevant for some of the questions that come up later. Also, one headache of family offices is this thing called a Fein frenzy, not feeding, but Fein, meaning that when somebody finds out you're ultra wealthy, they will charge you ten times as much or five times as much.

So it's important to figure out with service providers what their average client base looks like. How large is our largest client before you reveal how wealthy you are? If you're a family office, listening to this, that can save you a lot of money and you should make sure that the fees you pay are going to people who serve people like you all day long and they are geared to serve you very well. Otherwise, the lawyer who's used to serving businesses that do a couple hundred thousand a year in revenue or million a year in revenue, is going to be overwhelmed by the fact that you have 50 LLC's and you have a $10,000,000 in EBIT a-- business and lots of side investments going on.

Same for your accountants and for your reporting software etc. At the end of the day, family offices are looking for anomalies, sophisticated family offices who have been around for more than three or four years. They get good deal flow, decent deal flow. Usually it's never enough. They always want better quality deal flow. But the reason why they want a lot is because they know over time that if they can choose one investment out of three hundred versus one out of three, they're gonna have a better investment.

And after they look at 200 investments, just and self-storage or just and stem cells, they can pick out the anomaly and they can click out the things which are unusual on the spectrum of. You know what is average and what is great, what's more credible, what's a decent return, what's an excellent return, etc. All right, we also have a picture here that we don't have time to go through in too much detail just all the different components of what a family office is made up of: tax optimization, estate planning, who's going to oversee and be a CIO for it, governance, what private banking functions you want write reporting, accounting all around you. You want resources that are at the family office quality levels that you can focus your time on your unique abilities and not on chaos and stress and regulatory paperwork or things which are not the best use of your time, and that's the whole point of having a family office in place.

You can live the new reality you want to live in and not be more busy, more stress than you ever have before, yet you're ultra wealthy. All right, I'm starting to see some questions coming in and we're gonna start answering those and then, if we run out of questions and go dry on those and I'll get to some of the questions we have here on the screen, so feel free to start submitting questions. Here's one here. If you're just starting out raising capital, would you recommend to meet, engage family with family office reps at one of your weakens.

Is there a chance for one of your networking with these individuals and, if so, how would you proceed? Its from Larry, so I definitely would come to our events if you're just starting out, because it's gonna transform how you raise capital, and when you listen to 30 investors on stage in a single day and you combine that with 30 strategies on how to raise capital and you pick and choose what's most relevant to you, you're gonna come away with a lot of insights and a lot of things that are going to allow you to move faster, more effectively and more efficiently. So it'll it'll let you choose. It's gonna help you choose what to stop doing and what to do a lot more of, and it's gonna give you ideas you've never thought of before, and nothing can replace hearing 30 investors in a single day, because you can hear the common things among them and make sure you avoid the things that everybody doesn't want.

Here's another question: do you have databases, analyzed, the target family offices for specific areas, such as social impact investing? Here's the thing: there's no family office database globally that is going to tell you exactly what all the family offices want to invest in. We have spent thousands of hours for over a decade finding publicly available and permitting does all the time at family office databases calm, but if they don't say on their website that they prefer impact investing, I don't take information from private phone calls or something said in private and add it to our database. I'd violate their trust if I did so.

Importantly, it only has some of the categories of what they invest in, but that's the best that it gives globally. If it was available, would be able to find it, because we have three full-time professionals that do nothing but that. Can you share some of the Veck? Can you share a few metrics on the family office industry and let's do it?

And your investor network and events? Yeah, so every year we've got 250 to 300 investors speaking on stage at each event. It's 25 to 33 percent of the room is made up of family offices. Globally, there's over 15,000 family offices formerly put together is what most of the stats say. And then domestically there could be three to five thousand according to the stats.

But the reality has a lot of people are wealthy, and us wealthy enough to have a family off, but they don't. It's just a holding company. They haven't formalized it or they can write the checks that make the size I have, the net worth, but they don't have even a holding company structure and they're looking for guidance and insight and better quality deal flow, and that is quite common, believe it or not. I've met a billionaire who lives in New York, made his wealth in real estate and had never really heard what a family office was before, so it's more common than you'd think.

I want to do a lot of questions related to different industries in different specific areas to know there's people from all different industries here in the line. I don't want to talk just about our events here, so I'm gonna skip one or two questions here. It's one from Shiva: how are you doing? How'd it family offices feel about investing in venture capital and Technology firms?

Is there a growing interest in this asset class? Really good question and what I found is that family offices are more likely to invest in early stage seed venture capital inc. Or investor either with somebody they've known for a very long time or in a space they know very well. So they're very unlikely to invest in a venture capital firm if it's not an area that they know like the back of their hand or they have some advantages.

They won't be able to know whether that outsized risk is being managed well or whether that is a good opportunity or not. So a shortcut is to find technology family offices and show them your technology family, a technology venture capital offering, and that is going to help you make progress. I'd also mostly meet with local investors. They need to get to know you get to conduct due diligence on the firms you're investing in, and it's very hard.

If you're based in San Diego and you're buying self-storage in Chicago and you're raising capital from investors in Miami, you know you better have some huge advantage or some reason you're doing that like you used to live in one of those other two cities etc. Because that's going to be very challenging. The more that someone already knows you, knows your industry and it's local to the deal, the easier it's gonna be. What percentage of family offices invest in seeding a business, not a venture fund?

Nobody has a clear percentage, but my feeling is that almost all family offices do angel and early-stage investments, even if they say they don't. The reality is they do sometimes, but I just think they make the exception again for the things that are local to them or they're local to their understanding, in other words, like relevant to where they made their wealth. So if they created their wealth and manufacturing of a consumer product and then someone has a business related to getting distribution for consumer products, they might see the value in that very quickly and be willing to take an outsized risk compared to a family that made their money in high-tech. They might not understand that area as well.

To offer resources for next generation family's mission and value statements: yes, for sure. There's a book called how to start a family office. You can download that for free at single family offices com. Also, if you go to cinta, millionaire is calm, and go to tools and insights at the top, fill out that form, you can get a whole data room of resources which will help you in formulating your family office and getting things in place in terms of family vision, and we work with families directly at cent a millionaire advisors on doing that.

How should you introduce yourself to a family office in a way that you're not there to sell something and you're adding value? For this question? I would say that you should find a way to add value to them by introducing them to somebody else, getting them a piece of business for an operating business, looking and doing as much research on them as possible to find a common connection, an introduction or to frame what you're doing in a relevant way. All of us could talk for five hours about what we're doing, but the reality, the reality is, the reality is that all of us could talk for five hours about what we're doing, but if we narrow it down based on what the person actually is most interested in and what their background is, then you're going to be much more likely to get business done with them and just talk for two sentences in a way that's going to get their attention, versus going on four hours in an area that maybe is not of great interest to them.

And I think this is really critical. And and if you come to our investment pitch prep workshop, Nick week, or some of our other workshops, you'll hear me say that everyone focuses on having a pitch deck. It's usually way too long, it's usually not visual enough, it's usually not concise enough, but they focus on having that pitch deck and they're very concerned with that. But lots of people don't have a one-pager and, even easier than that, they don't have a one-liner and they might spend a lot of money on graphic design.

But then don't think about and meditate on what's the one sentence that makes them relevant to everyone else in their industry or to the into the investors that they're going to. And you really have to think about your competition. You have to think about whether the investors want, you have to think about all of the different things that are going through their inbox and get that one sentence that's gonna make them lean forward and be very compelling to work with you and take that meeting with you. And if you're not willing to do that, why should they thumb through your 30 or 40 page pitch tag to figure out what that one sentence is?

You should narrow it down and know who your target investor is so that you can summarize it in a single sentence. And if you haven't, then you've got a lot of homework to do before you go out and reach out to a single other investor. We have another question here from Christian. What's the average size of the investment for a family office managing a billion dollars?

I found that at that size they want to really stay at twenty, twenty-five million dollar plus allocations. Although they will sometimes make investments at 1 million to test it out. They really want to grow it into 5, 10, 20 million dollars plus. But, that said, they might have one part of their portfolio dedicated to emerging managers or early-stage investments in their niche.

So well. It's not true that people say, oh, if you meant one family office, you've meant one. That's not a true statement. There's a lot of commonalities between first generation manufacturing families, where the founder is in his 50s, for example. So they're not all completely different. They have common themes.

When you put them into categories and classes, it's like saying all the animals in the world are different. If you meant one, you meant one. But you know, if you narrow it down, the genus and species, then there's a lot of commonalities within those sub sub parts of them and the goal I think, for anyone looking to work with family offices is to figure out what sub component of family offices are best to be meeting with and get to know them very well. Is it more important to have an authentic relationship or a knock it out of the like one-liner?

They seem diametrically opposed. They're not opposed at all. If you don't have a referral into somebody, you're never gonna have an authentic relationship, because they're gonna archive your email with their thumb on the way to the elevator or why they board an airplane. They don't even know you exist on planet earth until you somehow get their attention.

Even if you get an introduction from someone, if you write them an essay about what you're doing and try to sell them and your email and working with you, you're dead in the water. If you can summarize in the sentence, then you've got a good head start on building an authentic relationship. If you know your investor set so well that you have it dialed in on how to add value to them and you can cure headaches they have and you can narrow that down and have that be part of your one-liner. That's gonna make people lean forward and you can build more authentic relationships every day because you have that in place and a lot of people mess that up and they're long-winded.

It's confusing. Or from the investors eyes, that sees a lot of deals. There's nothing really unique about what they're saying. They're like: oh, we're a lower-middle market private equity firms like, yeah, well, so are the other 20,000 out there. Or we're a commercial real estate boutique firm. Doesn't say anything about what you do.

Or we're at ABC capital or Wilson Capital. They have no idea what you do about hearing that brand name question from Richard. Yes, we are recording this Q&A part as we go here from Robson. Starting out a multi-family office in Brazil. Challenge is finding that Chamillionaire is what would be a good way to start. I know Brazil relatively well cuz my wife's Brazilian and I've spent a lot of time there and it's challenging because of the dangers of being known.

You're wealthy, but because of that I've found that people won't go to family office type events as much or as readily. So I would go to YPO related events, business owner events, Chamber of Commerce. I would speak, I'd put out a white paper, a special report, I'd do a webinar such as this and I'd go to estate planning attorneys and just figure out, once you know what type of family office want to work with, figure out where they congregate and get really dialed in on that, and it's only work with those that are really well-qualified for you. How do you connect with family offices to explore an opportunity?

Well, I think this could be related to family office databases, comm and using a family office directory or your CR or your rolodex. Is that the best way to get business done is to grow a real, authentic relationship, to meet in person. The worst way is to blast 500 people something, hoping that 20 will reply and 4 get on a phone call and 1 invest. It's just not how credible trusted business and big deals get done.

You need to take a crafted approach. It's unique to them say, hey, I'm gonna be in Chicago next Tuesday and Thursday if you have time at 10 a.m. Or 1 p.m. To meet and then that way you can build a real relationship with them. Do you see family offices want to save their history and stories and a way to build bridges for the next generation?

For sure, I think this is a really important and I've been doing this for 12 years now. When I started I'd heard people talk about values and you know family values etc and I kind of wrote off a lot about the first few years. But I've realized is that without strong family values, storytelling, governance and focus, then you really could lose a wealth credit quite quickly. The family might have a lot of infighting, you might tear each other apart, you might stop talking to each other, you might not create new wealth because there's no entrepreneurial values if you don't have transparency, accountability, manage expectations that might destroy the family.

So the value is really only held in place by the values of the family and the story and what the family focuses on. And if there's families listening to this, one helpful tip might be to have a informal bank that has some formal rules about how to win. The next generation is going to get access to capital. So you might not want the next generation have enough money to go buy Ferraris and condos in Monaco or a South Beach in Miami, but you might want them to have enough money for a house, for education, the medical emergency, and then they only get access to more capital by applying to the elders and the family for a business idea that gets approved by them.

So that way they're not. They're making sound business ideas or ideas that have at least been screened to be reasonable. They're not putting their life savings into Bitcoin when it's a twenty thousand per per coin, etc. And it's pushing forward the entrepreneurial spirit. So if they want to get more money, then they have to work for it and earn that through the profits of the business.

By taking a loan from the family bank, we could be paid back with no interest or little interest, or it could not be paid back, but the point is to give money for business endeavors versus condos and supercars. Okay, here's another question: how difficult is it for international family offices to overcome cultural shock when investing in foreign markets? Very challenging. If you are raising a fund to invest in India, I would strongly suggest you spend 80 to 95 percent of your time with people of Indian descent who are in your local area in California.

It might be Silicon Valley programmers and IT professionals who have done very well, or might be going to Intel executives who have been, you know, at the VP level, you know, for over a decade and have great shares, etc. And I think that if you are. Look. I mean one common theme that you'll hear on this webinar through question and answers is that look at people.

They're already up the trust curve of what you're doing. It's already familiar with Southeast Asia and what's going on in Singapore. You know. Raise capital in Singapore and people who have connections to their through a Singapore Chamber of Commerce or some other area that allows you to see they have a great interest. You could have education out on transformation of wealth in Asia or South East Asia, and people who are attached to that educational content might be pre-qualified to have an interest in actually investing in that area, for example.

So you can find these people within specific groups or you can attract them through a specific content. Have you seen family members team up with the intention of creating wealth together? For sure, Michael. We see this in families who reluctantly create a multi-family office. They had a single family office for themselves and now they have gone and said: well, we want to, you know, leverage our infrastructure.

We're spending a million dollars a year on it, or three million a year on it. So let's let our three or four friends and who are also in manufacturing, we're doing club deals and co-investing together anyways, other ways. It happens if someone starts out and they say: okay, well, I've got client number one, I'm spending out at Goldman or UBS, us trust, etc. I've got client number one worth two hundred million and now I'm gonna look for client two, three, four and we're gonna build out this infrastructure and as a reward for doing so, my anchor client and they give him reduce fees the more our AUM grows.

Or I'm gonna give him 3%, 5%, 7% equity in that multifamily office because he's the one that helped be the anchor client and trusted in me first to do it. And that's. That's two different ways that it happens. Quite often we have one person that says that they're having trouble getting into the webinar because we're oversubscribed. Maybe we're topping out at 500 members, but it looks like he might be being here now.

So thanks for joining us. Amy, do you have a service related to family office history and stories? We do help put together a family office dashboard which captures some of that. So for sure we can help with that. If you want to fill out the form on the tools and insights tab of since a millionaire's com, you can do so.

Also, when I mentioned family office databases, calm before that has our Investor directories. If you mentioned webinar in the coupon code or with my professional, Daphne on my team, they'll give you 10% off any prices you see on that. I forgot to say that earlier. In terms of fundraising for family offices, what process would you suggest or recommend?

It's from Ahmed. This is a very potentially long answer. Honestly. I have an 80 page answer to this. The process would be: go to capital raising com. Download 80 pages of my advice on the five step system I would set up to attract investors to you and that is my most authentic, genuine answer.

It's gonna give you the most value. The mindset shift is: find a way to attract investors to you, find a way to be positioned so that you're among potential investors all the time and do the thing which is most integrated with who you are, where you see opportunity and what you want to get done over the long term. Another question here about outsource chief investment officer services: how often are they using it? Often, I mean, there are outsource chief investment officer firms that I know that used to have 17 clients and now have a hundred and twenty.

So I think this space has grown quite quickly and just as the multifamily office space and the family office industry has. We're really just in the first decade of a 30-year trend of wealth management being totally transformed for the ultra-wealthy. So asked me to repeat the websites I was family office databases, dot-com, capital-raising, dot-com and sent to millionaires, dot-com, in terms of what's changing and how it's being transformed. What I'm seeing is there is a massive gap right now in multifamily offices usually being very good at risk management, portfolio management, stocks and bonds and usually not excellent at direct investments, and so families go and do direct investments and they're under advised and they're not getting as much help as they need.

And a lot of multifamily offices are just now starting to build out their direct investment capabilities and that's one of two areas and, since a millionaire advisors, we help build out direct investment programs and help form single family offices. But that's a huge gap in the marketplace right now and I encourage you, whatever space you're in, whether you're a family office, listening to this and you had a liquidity event now you're running a family office, or if you're someone in investor relations, to figure out where's the gap within your subnet and figure out how do you only operate within where that gap is, which could be again related to just like the cent a millionaire advisors idea or the direct investment space. Or, if you're in multifamily apartment buildings, it could be related to, for example, doing self storage on multifamily. Maybe that is a new trend that you could get on top of and be a leader in, versus doing everybody else is doing and doing 10k ador renovations of BMC Class multifamily and in upgrading it.

We do have a question on apartment building investments here: how can I capitalize on my deal flow? I have a lot of a lot of deal flow. How do I capitalize on it, I would find how to differentiate yourself. There's 480 multifamily independent sponsors that we know of in the United States and a lot of them sound the same and a lot of them are not highly professionalized.

Yet they're one or two person shops that are just getting their first 5 1012 deals done. So I would find a unique angle to what you're doing, a very laser focus. So it's very clear, incredible when you're explaining to a family office what you do. For example, if you say I'm an expert on this market, nobody believes you.

If you say you're an expert on penny stocks, it's still too broad. If you say I'm an expert on small cap and micro cap biotech stocks, it becomes more clear. If you say all I do is invest in stem cell investments, that's pretty specific. If you say we only invest in stem cell companies based in Texas doing between 1 million and 10 million dollars in revenue, and we've been doing that for five or seven years, becomes much more credible, clear that you might be a master of that domain because it's very specific.

So the more specific the better. Then people know whether they want to meet with you or not and can gauge the credibility right off the bat and you're gonna move up the learning curves a lot faster. Another question here: do you see an increased appetite, a newly-minted since millionaires, in tech related ventures? Only if they made their money in that space.

Otherwise, you know perhaps not question from furay: how can we be of help to you? How's your firm make money? If you're watching along visually, you can see at the bottom of the screen. If you want to become a member in the family office club, you can do so by going to family offices com forward slash Association, its family offices, com forward slash Association.

So please check that out if you want to see the membership benefits. We have over 800 members subscribed right now for a reason. We'd love for you to become part of that and join us. Today we have 25 live events per year and membership starts at just $199 a month. We have a question here on licenses. What licenses do you need to work with family offices?

That is going to be very dependent on where you are. If you're raising capital for third parties in the United States, you typically need a broker-dealer license. If you're managing wealth and advising to an investment advisory work for many families, you might need an r/a a. But I really want to stay away from legal advice at all cuz gonna be different in different jurisdictions and laws may change etc.

So don't ever ask a non-attorney for legal licensing advice because they might be nice and trying to help you, but if they sound confident in their answer, you might follow their answer, which could get you find or banned from an industry and that's not worth it. So I would just try to focus on who the right person to speak with and if anyone has questions around forming a fund or legal questions, let me know. I'm happy to introduce you to the attorney that I work with. If anyone has questions in general about the family office club, or you need to run and you didn't get your question answered here, its clients at family offices comm and you can answer.

We can get your question answered in one or two business days. We have a question here on Self Storage and before I answer that, I'd also want to address that. Sometimes people say: how come real estate has talked about so much at your events? It seems like 30, 40 percent of the content. The reason is that just about every family office invests about 25 percent or more of their portfolio in real estate and it's like saying that: oh, why do you talk about business so much?

I mean, in real estate, there's 15, 20 different types of real estate you can invest in. In business, there's many different industries, many different types of companies, etc. So both parts get talked about a lot and does make up about a third of the content at our Investor summits, because a lot of families invest in the space and what I found in real estate is that single family homes, self-storage apartment buildings are the areas that people invest in most readily because they don't have to be an expert in there to get someone to invest in a data center. They don't know you really well, they're not local to the asset and they're not in the internet space or the cloud space.

They may not be up on the trend of why data centers are being gobbled up by the googles and Amazons and apples of the world. So I think that's important to realize. John is a question. Oh, and also someone wanted that link: where is the 80 page answer to the capital raising process? That's a capital raising com, how to find local family offices from John.

So basically, the best way to find a local family office is to have them find you. The second best way is to find where they congregate and go there, be part of the groups, speak in front of the groups, add value to them first. Another way is to capture people looking online for solutions. You might capture those looking on Google via Google AdWords.

So if someone searches for how to invest in real estate, you might advertise, but maybe only locally in your state or only in your city. If that's allowed for the legal structure you have and what you're offering to them, you might be able to catch some of that demand coming towards you. You all so can do podcast interviews. I've done quite a lot of those.

You also can speak at different organizations locally, again, business owner clubs. Estate planning could be nonprofit groups or be part of things that you would find fun. If you're a Porsche enthusiast, you might be part of a Porsche Club. If you like boating, you might be part of yacht club or a Golf Club, etc. You know. So it's gonna be unique to what, what, what is going on with you?

Daniel is asking if this is live. For sure it is live. If you're listening to this on May 10th it's live. Otherwise we are recording this for others in the future. How big of a concern is generational wealth transfer? It's a huge concern.

Governance is even more of a concern because it's the pathway through which things will survive before being transferred and after being transferred. So it's kind of the rails to get the transfer done. And I can't believe how often, like the individual called me yesterday worth over 100 million dollars, he said: oh yeah, I drafted some estate planning Docs one time but then Trump got elected I wasn't sure what I was gonna do so I never filed them. Another group that we work with.

It's worth over 200 million. He has zero estate planning in place. Another group had estate planning Docs, created 10 years ago by a small local attorney that didn't know what he is doing. We just on-boarded him as 125 million net worth client and we're working on redoing some of his estate planning and trying to get that in motion.

It's a big concern but many times the ascent to millionaires, entrepreneurs, and so they're running, gunning, running their businesses trying to grow things. That's what they love. That's their strength. Their strength is typically not accounting slowing down to deal with lawyers. That's usually a painful part of their day. They don't like getting taken advantage of.

They don't to be overcharged. They don't want to do anything too risky that's gonna get them in trouble in an audit or you know, god forbid, and some sort of criminal trouble for being in too much of a gray area. But they would love to be able to sleep at night and have things be managed well and know that if they got hit by a truck or got cancer, that their family would be ok and that not all their hard work is just going to the IRS on needing LI, they're not overpaying on the taxes and being inefficient. So those are all top concerns and it reminds me that another thing I want to bring up is that a lot of families they like control.

They need to realize they can't have control in every part of their portfolio. You know they need to be segmenting things into the three buckets of diversified assets, cash flowing, real estate and direct investments, into operating businesses typically, and choose where they want control. But that's very important to know because if you walk into a family office shop and you say here's my term sheet, it's two and twenty, take it or leave it, and it's a first generation single-family office, then I think that you're gonna have a big challenge with doing business with them, because they might want to be a seed investor, an anchor investor, a JV investor. They might want to create a fun just for them in their multifamily office, if they have one.

They might want to be a co GP partner with you and bring in all the investor capital you need. So going in there with a closed mind is a very bad idea. A lot of these individuals are very entrepreneurial. If they're a single family office, and even a multi-family office that's been around three to five years or less but has traction, could be pretty entrepreneurial.

These are people that are jumping on to a trend that is still early stage and to do that they had to take some risk and step out and do something that was different than a lot of their wealth management peers. Yes, for anyone that's following along, we're gonna provide the slides as well as the recording of this to everybody. So we have a couple questions here on the slide and we've had a couple more coming in: what structures to family offices prefer? They prefer structures that are aligned and they prefer fees that don't reward you just for you know breathing.

Essentially, they don't want to pay high management fees. Why should they pay a lot of money? Whether you do a great job or not, they want to trust you at their money so that you can help them make money and protect the money. So performance only fees is something that is popular. Or just leaning things towards performance instead of two and twenty, maybe one in 25 or 25 basis points in 33% profits, etc.

Many times families get seen as being cheap, but they're not cheap. It's just like going to a triathlete and saying, well, why can't you eat this piece of pizza? Look how good a shape you're in. Well, the person who's worth a hundred million dollars plus didn't get there by moving through the jungle, just passing out money left and right to anyone who asked for it.

They want to make sure that they pay the sticker price of a rolls-royce. They're not getting a Honda. It's not that the Rose Royce is expensive to them, for us would be equivalent of buying movie tickets, but they don't want to buy the movie tickets and end up in a theater with no seats and no screen right. So they want to make sure they're working with the most credible possible.

The more sophisticated they are, the more they're gonna demand that or want a custom form, structures and fees. Another question: how can I find? Oh, we answered the how to find local. Here's another one: what's the difference of a private investor, angel investor in family office? Essentially, a private investor might not be part of an angel investor network.

It might be larger than an angel investor. Well, an angel angel investor might make investments of ten, twenty, five thousand, maybe up to a hundred and fifty thousand, sometimes more if they're a super angel that might be making two hundred and fifty thousand dollar investments a private investor could include. A subset of them are angel investors, but they might go up to making million dollar investments to three million dollar investments if they're wealthy enough to have a family office but don't. They might still just be a private investor who happens to be worth a hundred million dollars.

But typically when you enter the family office world and somebody is worth 2530 million, a hundred million dollars or more, you know they might do a test investment at one hundred, two hundred K still or half a million still, but most of them are wanting to place, you know, half a million, a million, two to three million per investment. So it's worth their time to conduct all that due diligence. What type of fun fees are you seen as acceptable in this area at varies based on the type of fund, but I think if you look at industry standards you have to very honestly look at your organization. A lot of people say why can't we charge two in twenty, I mean everybody does, or why can't we take 40% of profits after a 6% pref?

That's industry standard. But they're saying this is a one-person firm. They're only pitch. Asset is their pitch deck, which is, you know, 49 pages long. They have no one on their team. You ask whether offices.

They don't have an office yet. They don't have team BIOS. I don't have team pictures. They don't have a key process diagram. They don't have 18 deals done. Their firm is not industry-standard.

So you haven't earned the right to charge industry standard and if you try you're going to get a lot of no replies or polite noes and here's not gonna get traction. I think it's a massive mistake to look at fees and structure and do what's normal, even if you are highly credible. Why not have structure and fees? Make people lean forward and say, wow, I've never seen that.

Or oh, that addresses a huge concern or headache we face all the time. No one's going to invest because you have amazing structures and fees. But if they like what you're doing and it's credible and focused as what they're looking for and the structure and fees make way more sense than everybody else is, it's a big advantage. And raising capital is very hard and when you come to our workshops, you provide 30 different strategies on investor relations and you're not expected to implement all of them.

It's like going to a food buffet. You pick and choose what you need now, what's gonna work for you now? But this is something that a lot of managers need to work on because a lot of family offices complain about it. Another one is: um, what's the fastest way to get on top of this growth area? A family office investor formalization and take advantage of the trend.

If you are an ultra wealthy individual and trying to figure it, figure out who to trust and which way is up, etc. We have a whole data room of resources at Senta millionaires calm. Under the tools and insights area, we have questionnaire as questions. You should be asking yourself that we ask clients that we onboard. You should be reading our book, Senta millionaire migraines, our book how to start a family office.

That's gonna help you get on top of what your options are and what not to do, because we talked about many hundred thousand dollar mistakes and million dollar mistakes in those books. For example, a lot of families buy an overpriced single-family residence after having a liquidity event. A lot of families have non family office quality solution providers, etc. And that's what our whole sense a millionaire Advisors LLC division is about.

On the other side, if you're looking to connect with family offices, the fastest way to get on top of it is to digest a lot of educational materials, hear from investors live, whether it's at our events through the family office Club. At family offices calm, you can see our events coming up or other events, just to be always in front of and speaking with private investors and family offices so you can move up the learning curve on exactly what they want. So when you form something or form your next offering, it's really customized to the group's. You're gonna be putting it in front of more than just the generic offering that you think would be great.

After hearing 60, 90 investors talk about what they want, you're gonna be able to dial things in a lot better. And why have I never heard of family offices and sinto millionaires? Many people have not heard of the term family office because it's a relatively newly being used term. So last people hadn't heard of hedge funds in the 90s and it got in the public newspapers, Wall Street Journal, New York Times, more and more the same with family offices now.

Investment professionals generally know what they are, but the general public has no idea. Most of the ultra-wealthy have no idea. But that's a good thing, because that means that the more you can add value to someone who you meet who should have a family office but they don't, and the more you can operate at the sophistication level of you will do well when you compete against others at the family office level, the more private investor is going to leave, or because they're gonna think what you have is really unique and special in the marketplace. Because what happens is that a small private investor might see maybe eight deals a year or twenty, two deals a year.

A sophisticated family office sees 200 or 500, so the top 1% of deals. It takes a lot more scrutiny and a lot more research to find those top deals by the sophisticated families and their pickier and their diligence screens are tougher so they're not gonna invest in anything that's average and normal. They want to invest in anomalies and things that are unique and so if you can survive that process and dial things in to be excellent and stand out from all the other competitors and private equity or operating businesses in your area, then you're going to compete well with a private investor because it's gonna be head and shoulders better than everything else. They're seen through their local angel investor network or business owner club etc.

The. The most important thing that I want to talk about here, before we transition to a couple more slides, is that integrity is our number one value in our company. Ruthless integrity and being well integrated is the most important thing, I think, in personal life, business life. If you're running a family office, if you're raising capital, if you are ultra wealthy and you don't have things integrated, so your background isn't aligned with what you're investing in, or your team is in the line with your values, or your governance policies or your estate plans are not in line with what's most important to you, then you're gonna have friction and fighting and things are not going to go well.

The same as if you're raising capital, but what you're investing in is not where your expertise is. Oh, speaking of so on the other day, that has tons of great deal flow and a major metropolis City. Let's say it's London, it's not, but just to say it's London. But then he wants to do real estate investing in another city, such as Geneva, but his excellence is in London.

So I kind of pushed back on and said: well, why don't you, you know, see if there's a sub niche within London that where you can play your game, because getting on the airplane every time to do due diligence, all your relationships can be made more locally, right here in London, where you're based. That's where you have your advantages. That's what I taught. That's what I mean when I say integrity.

Everything has to be very aligned, and the more that I've made things more aligned in my life with who's on our team, what I spend my time on, what social clubs and groups I'm part of, where I live. For example, I used to live in Oregon. There was no family offices there, so I moved to an island outside of Miami called Key Biscayne. There's tons of family offices here.

I just meet on accident at the beach or the park when I go running, etc. That's really important and just makes everything so much easier and more credible in the eyes of any County counterparty you work with. So if you're a family office, you'll be more credible to other family offices in conducting co-investments. If you are well integrated and if you're raising capital, the same thing, you'll be much more incredible.

So at the bottom of this slide you probably see where it says become a member. If you're watching visually at family offices, comm forward-slash Association, I'd like you to visit there and you can see the benefits of joining, become part of the family office club. And they go over a couple quick slides here on what we are up to, just so you can see more context of how we could be helpful to you. First is that when you go to college, it's not just a download of information, it's not just memorizing facts.

It's being part of the community, it's being part of the context of it, all things being explained, iterative learning, etc. And that is what the family office Club is all about. We have the live workshops, we private investor summits. We do about a dozen each of them per year, 25 live events per year in many different cities, and if you become a member in the family office club over 18 months, we're going to transform how you run your family office or how you work with family offices, because at each private investor summit you're hearing from 30 investors in a single day on stage.

It might be the same number you hear from the rest of the month or for some of you, even the rest of the quarter, if you're just getting started. And you're gonna hear about what are the innovative structures, fees like structuring gross revenue royalties when investing and operating businesses. You're gonna hear about what's the trends in commercial real estate regulatory maneuvers that family officers are worried about. You can hear about tools, software programs, research reports and you're gonna hear things that are totally against what you believe in for investing, but you're gonna see that people are pulling it off successfully and it could change how your brain operates and what you consider and it might help you uncover niche areas.

You could see somebody in stem cells or self-storage doing something and import that over to you. Investing in gas stations: are you investing in venture capital? And Singapore? And it's that cross-pollination of ideas, of these events, combined with the fast-moving workshops, if you fill out practical worksheets and leave with 10, 20 tangible actions for the next day.

That, in combination, will transform how you run your family office or work with family offices. We have some details here now that you can see on the family office club membership. If you're following along, go and they read through what they are. There's just four. Four things are pretty quick to cover. The first is that we help you get more investor insights and more relationships.

You're getting access in person with the investors, in the room and on stage. You get to ask them questions. We also livestream all of our events. So if you're not able to travel to Singapore or San Francisco because you're based in the Northeast, for example, then you could livestream or have someone from your team go in your place or have someone from your team just livestream the two discussion panels that are very relevant to what you're doing and get insights from your peers and from investors.

The next benefit is increased effectiveness. In addition to the live workshops, we also do a quarterly, no extra cost analysis of all your materials. So we'll review your website, one-pager, one-liner logo, your pitch deck, anything you're showing to investors. You just upload through our portal as a member, will review it all and give you a three to five page analysis.

This is done by myself as well as my investor relations agency team at pitch Dexcom, but it's just free as part of your membership in the family office club. That's on top of the live events, on top of the live streaming of the events that you can do. The next thing that we can help with as a member is increasing the contact details you have for investors. You get 50% off our Investor directories if you're looking to network and meet with family offices in your region or in the cities you travel to most.

Often, we do sell them one off without being a member at family office databases, calm, and if you use the coupon code webinar, you can get 10% off any purchase you make there. But you get 50% off if you become a member first, and you can do that at WWF family offices, comm forward, slash Association and then the fourth benefit, so it went over. You get more investor insights, more investor relationships, you get increased effectiveness. You also get increased contact details.

And the fourth area is really that we can transform your firm over the 18 months through our portal. So we have three hundred and fifty investor interviews recorded in the portal. We have a family office certification program. If you're running a family office, you're going to learn more about the space. We have our capital-raising certification program, which you can do online at your own pace or have someone on your team do it, which could be separate from the person going to the events or by coming to all of our capital raising workshops.

You receive the Capitol raisin certification as a result of that, and if you're live streaming in an event and you want to connect with some of the speakers, we can get you the contact details for them as a member, so even if you're not there in person, you could be networking with them. I also want to add, before I leave this slide, that we had one client who sponsored one of our events. They spoke on stage, made a couple helpful introductions and connections, but then they also got on our family office podcast and, as a result, they meant one family office that open the doors to 24 investors and they brought in 24 new investors from that one and chips. So in the family office world, there's 15,000 family offices globally and growing.

There's 55,000 people globally worth a hundred million dollars or more. There's 211 thousand people that are worth 30 million dollars or more. It's a huge opportunity and what we're offering for $199 a month, if you become a member of the family office Club by going to family offices, calm, forward-slash Association is to help you get those relationships out. Of all of the 300 family offices on stage each year, you need to connect with 2 or 4 and it could trim, transform what you're doing.

You can get referrals. You can understand the market better. You can redesign. How are your? All your materials are made. We had one individual hood raised 4 million dollars.

They got a review of all their materials. They very quickly raised the next 8 million dollars. Now they're looking at a exit that could be over 50 million dollars in that portfolio and they're now going out into the market to raise a hundred million dollars. We have another group that got a collection of 4 family offices out to dinner after our annual 1,000 person family office super summit and landed a 50 million dollar seed deal with a multi-family office Trust Company in the Northeast.

We also have someone, Ahmed, who stood up at my workshop in Toronto two weeks ago, and I didn't know he was even attending, to be honest, but he said that he took my advice from the capital raising workshops. He implemented one idea and from that one idea of creating a piece of thought leadership, he raised $600,000 and four weeks and he raised ten million dollars since then and he just landed his first billionaire client. So that just shows some quick examples that are happening in real time of what can happen when you connect with just a few family offices. You don't need to connect with a hundred of them, you don't need 40 of them, you just need a few per year and you add the momentum to bonuses we have for people listening to the webinar is that when you join the family office Club, you automatically are gonna get a hundred regional investors in your area and this is gonna be split up between angel investors, single family offices, multifamily offices, REITs, etc.

But at your six-month anniversary, as long as you mentioned webinar during your walkthrough with my team member after or mentioned webinar as you register will put on your file that at your six-month anniversary you get a second hundred regional investors at no cost. Just thank you for being a member in the family office club and then we also do a monthly review of the materials and it's coming up pretty soon we're gonna do the next round of reviews. So if you want to have your materials reviewed very soon, become a member right now through the link below at family offices, comm forward slash Association that we're gonna do a very thorough review of all your materials and I don't even know someone else that does that for a charge. Maybe you could convince someone at a couple hundred bucks per hour to spend some time giving you feedback and hopefully you could find the right person to do that.

But we just provide that for free because we see, when we provide that value, that people get the genuine insights and they see, wow, this helps me today, this helps me right away. And they're more motivated to come to the capillaries and workshops, more motivating to come to the investor summits. And we're self aligned in that we're not charging you a $20,000 membership because we think we can help you save and avoid some hundred thousand dollar mistakes. We're not, you know, charging a $30,000 onboarding fee or anything like that.

We have a membership model which means we provide genuine value. You're going to be a member for eighteen months or for five years or seven years, and we've had members that have been a member since we started. That's why we do the review of the materials. We just think it adds genuine value and there's no reason not to do it.

And these two bonuses are good for the first hundred people who sign up today or after listening to this webinar, register, become a charter member, and those are the ones that can get this. One hundred additional regional investors. And then that offer will be closed and maybe on a different webinar will have some sort of different offer besides this, but that one's limited to the first hundred people. I'm not going to read off all these testimonials we have here for times sake.

The whole point of showing all these testimonials, if you're watching along visually, is that we have people flying in from Beijing or from Los Angeles to London or from Australia to New York, and we've had 6,000 people come through our events in the last 12 months alone. And on our website you can see literally a couple hundred testimonial. If you go to the bottom of one of the event pages for one of our conferences coming up like it, forward slash, family offices, com. Forward slash materials, family offices, comm.

Forward slash in Dallas. Or forward slash capital, you can see the couple hundred testimonials and I encourage you to read those because I'm not gonna bore you by reading through a whole bunch of them now on how great we are. But these are real people with their real names and they really did come to our events and got a lot of genuine value out of it and that's how we've done great in our industry. That's how we have the number one most registered family offices, the number one most visited website at family offices, dot-com, the most downloaded podcast, the family office podcast, and the best-selling paperback book is we really care about doing this for the next 20 years and being kind of the Nike of the family office industry in terms of thought leadership in genuine help.

So that's kind of the spirit at which we're approaching all of us and why we're doing this webinar. Even so, here's a slide. If you're watching, it's what you can see. If the home page of family offices calm, it's all of our events coming up and they're read: titled events are the investor summits. In the blue ones are the workshops that the investor summits gonna hear from 30 investors.

On stage, investors make up twenty five to thirty three percent of the room, while the workshops are for investor relations and capital raising professionals. They're very fast-paced. There's no way you come to a workshop and you don't leave with a dozen new ideas, the change perspective and we're going to challenge you to change how you're investing your energy and raising capital, and we're gonna take the excuses off the table of: oh, I'm not allowed to do that in my industry, I don't have time, my partner won't allow me. Does that really work?

How do I apply this? We've taken those excuses off the table through 40 workshops and 116 live events to date, and if you show up on Wednesday in New York to our investment pitch prep workshop, we're gonna take your excuses off the table to implement some of the ideas as well. And essentially every month we're offering a couple events so that it's easy to fit them into your schedule as you go along, and that that's included with the membership. There's no separate fee.

Sometimes people join as a member and then they think they also have to pay a thousand dollars or seven hundred ninety seven dollars per event. No, the events are included as a part of your membership. Same with the livestream, same with the review of your material, same with the regional investor list that you get, etc. So if you want to join and become a member, you can do so at family offices, comm forward-slash association.

The membership starts at just $1.99 a month and you can start and stop at any point. At this point we have a four month minimum. Sometimes we have members that want to do a Premium Membership and come to more events, or they want to do a VIP membership because they want all the investor databases plus they want to come to the events. Some people want to speak of the events, which would be a sponsorship role, but you can find all those details at family offices, comm forward slash Association.

And if anyone has one or two quick questions about membership, I'm happy to answer a couple questions very specific about membership. Now, before we sign off on this, here's a question from Kathleen: will you provide individuals who provide money for start-up? So I want to answer this question in a way that'll help as many people as possible. So a lot of people come to us and they say, hey, great, I just need ten investors for my oil and gas investment.

You know, outside of Dallas we help you move faster through the jungle. If you're going at 40 miles per hour, we can help you go 55 miles per hour. If you're going zero miles per hour, we can get you up to 25 miles per hour because we're offering things no one else offers. On capital raising and investor relations, what we've found is that many people are looking for that magic bullet.

They want that placement agent who's gonna raise all the capital for them. That's not what we do. We don't do that because there's thousands of placement agents out there in the marketplace but there are not any other capital raising workshops. There is no other book besides the one at capital raising com that we know of that gives you a system for raising capital.

There are not any other family office database providers who actually work in the family office industry and work with family offices every day. As strange as that sounds, you can see a family office database is calm. So we want to only do things where there's a gap in the market and when it courage you to do. The exact same thing, and that's exactly what we teach at our workshops, is that when you look out at what you want to spend your energy on.

You should figure out what everyone else is not doing not and where there's a pain point. And for us that means not helping hands on the call investors. For you it's not scalable across 800 members and there's literally a thousand people out there in the world who have that business model. So we help you move faster, get more contact details, better strategies.

You can meet investors at the investor summits. You can get feedback from investors in real time. We'll even review your one-liner and your your one sentence compelling statement. Live in front of the audience at some of our investor summits and get their feedback. Another question about membership here from Preston: will there be any investors present at the pitch prep workshop?

Great question. At the workshops, it's all about fast moving, interactive worksheets. Practical takeaway is to help you grow your investor base and close more deals. The point there is not to meet live investors in the room. It would be even a distraction from just trying to be focused on changing your whole system for raising capital. It's the private investor summits where you can meet the investors, live in the room, but don't think that that means they're any less valuable.

A lot of people come to the family office club and they join just for the private investor summits and end up getting even more value out of the family office workshops because you essentially are learning how you could do better at an investor summit of any type, not just our own. And the difference of going to someone and saying, hey, can you be my placement agent and raise this capital for me? Or just tell me what 20 members in the family office club you know would want to invest in my, my deal, versus giving you tools to do better is the difference of somebody giving you five fish versus teaching you how to fish and teaching you how to nurture their fish and add genuine value to the investor and grow that relationship to actually get deals done and get business done. And family offices that are in the industry.

They want you to have this knowledge. They don't want to be approached by people with an sa long email and they don't know how they're different than the competition. They don't want to waste time, they don't want to meet with people that aren't dialed in or aren't credible or aren't laser-focused. So everybody is aligned and getting this information to you.

We have another question here of investors are involved in real estate. We did a 180 family office benchmark study and found that 75% of them were investing in real estate outside of their private homes, and then it made up an average of 25% of their portfolio. So a lot of families invest in real estate, but they also invest in the area where they created their wealth, and that's important to note because it's going to be something you're going to want to learn, so you can dial in what type of real estate, where do they live, where do they create their wealth, what industry do they know best, etc. And you know the whole reason why we've changed this model of having the Charter membership and the membership levels, which is our standard level, our premium level and then our VIP level, is that we found that when you're around your peers and you have people that can help hold you accountable.

So you're going to workshops, maybe two times a year, four times a year, coming to an investor summit or two, and you see the same individual every quarter. You're going through the forward momentum worksheet that we have. That helps you identify what's holding you back in working with more investors. Then you're going to perform better. And if you are in a vacuum in you're only watching via livestream and you are trying to raise capital alone with your two to five person team or 20 person team, etc.

Then you usually don't have anyone to bounce ideas off of and you don't get the influx of fresh content and fresh strategies. And we've found that if you can come to two or three events on the workshop side and that you can come to, say, six events over an 18-month period, it will really transform everything you're doing in investor relations. We have 18 members on our team here at the family office club and we're typically growing by twenty to thirty three percent per year. And if you become a member you can, with a single membership, bring one person, but it can be anyone from your team.

You might go to two events. You might send your partner to two. That because you're most senior in your firm and you're the principal. You want to go to the capillaries and workshops because you need to understand what's going on in high level and know all the strategy and you just have your junior level guy watch on the live stream and don't pay for his plane ticket to come etc.

And, importantly, we've changed our timing on the workshops this year so they start at 10:00 a.m. And we're done by typically 4:00 p.m.. So if your regional the event, you can fly in and catch the 5:00, 6:00, 7:00 a.m. Flight, fly-in, get off the airplane, get to the event and fly out that same evening. Not be away from your family another day, I know kids and spouses don't like that, not have the expense of the hotel and just not be wasting the time having to fly in an afternoon before you're actually you're actually getting started.

So that way you can get to the event and back the same day. How many members in total numbers, always changing. We have over 800 members at this point and I'll just encourage everyone now to go to family offices comm, forward-slash Association. You can chat with my staff there live. Give them a call, the phone number you see right there on the website.

If you have any questions, you can email us at clients at family offices comm. And just in case you missed some of the earlier part of the recordings, I see that we had maybe a hundred people come under the recording a little bit later. Is that the number one websites to remember? It would be the family offices comm, capital-raising comm.

Our Investor Relations agency is pitch Dexcom and our data base website is family office databases dot-com. If you're a family listening, then the most relevant website for the data room of resources would be sent to millionaires comm. So thank you for joining us here today. You can see on the screen, if you're following along visually, a whiteboard video that helps again explain what the whole portal is about in just about 90 seconds.

So encourage you to watch that or reach out to my team if you have any other questions and I hope to shake your hand in person at our live event next Wednesday in New York or into this month in Dallas, or one of our other 25 events coming up in the next 12 months, and just make sure you go to family offices. Comm forward. Slash associations. Thank you.