Sure but can they provide full concierge service including party planning?
From Institutional Investor, May 25:
The wealthiest private investors are turning to asset managers for deals, due diligence and other insights.
BlackRock is stepping in to offer services to family offices, who are increasingly seeking out more external resources to build their investment portfolios.
Like many institutional investors, family offices have big allocations in alternative and private investments and prize nimbleness so they can take advantage of deals during down markets. But the current market environment has also made family offices realize they aren’t as good at some forms of investing as they thought. Direct deals with companies are just one example. As a result more family offices are turning to asset managers and others for help. The relationships between family offices and managers are a private wealth management version of the strategic partnerships that institutions have been pursuing for years.
In BlackRock’s 2023 family office report expected to be published Thursday, family offices said their key challenges when investing in private markets were getting access to the best direct deals and managers (41 percent), high fees (40 percent), liquidity constraints (35 percent), and lack of transparency (30 percent).
Bankers and others are becoming “extensions” of family offices’ staff, according to Whitney Ehrlich, head of U.S. family offices at BlackRock.
“I do think what we are seeing is recognition from large single-family offices that they can really leverage their partners on the asset management side,” Ehrlich said. More families are coming to BlackRock for investment support of some kind, whether it is for help sourcing deals, due diligence, or allocations, she added....
....MUCH MORE
Previously:
"Family offices are snapping up talent from private-equity firms and elite wealth managers"
"Superyachts, Mixing Drinks: The Truth About Family Office Jobs"
"Family Offices as the Apex Of the New Butler Class"
Family Office/Outside Managers Not Quite Cutting It? Maybe What You Need Is A Family Bank
Related:
Competitive Intelligence Macquarie Style: First Establish a Fake Family Office...
Foreign Family Offices Are Opening U.S. Branches
Family Office Assets-Under-Management League Table
UPDATED--Wha? "Family Offices Look to Invest More Than $30 Billion in Hedge Funds in Next Year"
Family Offices Showing Greater Appetite for Agriculture/Farmland Than Institutions
Sidestepping Private Equity With a Family Office
The Twenty-Seven Most Embarrassing Reactions to Taibbi Thread About Twitter Censoring Hunter Biden Tweets
[first your template]
Construct Tweet: [Say formerly respected or once great, etc.] Matt Taibbi [call it PR or comms or like that] for the [world’s richest man, the richest person in the world, so on]. Quote tweet thread. [hashtag optional].
....MUCH MORE
However, we'll go Aelfred one (or two) better, by offering not just PR.
Our package: complete Family Office services including concierge and butler, art appraisal, succession and estate counseling and life-coaching.
Or, for the truly discriminating, ask about our Luxe programme with unbiased private equity ROI analysis.(includes party planning option)
Not quite there yet?:
Proctor & Gamble: "Make Your Home Smell Like You’re Rich" (PG)
News Your Dynasty Can Use: How The Habsburgs Stayed So Powerful For So Long
Tips on playing the long game....
Should you be contemplating establishing a dynasty, you have come to the right place.
You are going to want a seat of power and Construction Physics has a primer on "How To Design A House To Last 1000 Years."
Finally, how to pay for it all without risking everything on that dissolute great-grandchild that is sure to pop up:
Anti-Piketty: Merrill Lynch's Tips on Creating a Financial Dynasty
The progenitor of the House of Habsburg may have been Guntram the Rich, a count in the Breisgau who lived in the 10th century....
Oh Crap, I Almost Forgot Karl, The Last of the HabsburgsAnd finally:
Why Real Estate Ownership Is Required For Intergenerational Wealth
We've looked at the importance of housing as a cornerstone of intergenerational wealth a few times, and not just for piles like this:
That's the courtyard of Arundel Castle, it's been in the fam (Fitzalans; Howards; Fitzalan-Howards) since the mid-1200's (with a few reversions to the Crown). More after the jump....
