CIOs and Bow Ties

Of the roughly 12,500 SEC registered RIA firms in the United States, there are roughly 700 wealth management RIA firms with $1BB or...

As investors, we can not ignore the role that disruptive technologies play in shaping the world around us, from consumer trends to the market itself....

For years, family offices were invisible, operating in nearly complete privacy. In recent years however this has changed, with many of them running investment vehicles that are publicly marketed, transparency has entered the fray. Now that they’re on our radar screen, how should we view them? How do we interact with family offices in a way that is complementary to us and to them at the same time? We interviewed the industry’s top expert for insight on this subject.

Richard Wilson (https://www.linkedin.com/in/singlefamilyoffice/) is the CEO of the Family Office Club, the #1 largest association in the family office industry, which has over 102,000 registered members from 100+ countries. We spoke with him to gain insight into what these organizations look like from the inside, from how they think about investments to hiring staff and running their operations.

In this episode of Bulls, Bears, and Bowties, listeners will learn:

[1:10] His vision for his organization the family office club and the family office space going forward

[1:46] The mega trend around family offices and high net worth wealth

[3:14] Family offices typically have desired to stay private and “off the radar.” How does this mix with the new age movement towards transparency that we’re seeing with family office running hedge funds, pension funds, and the like?

[4:28] Is there really a shortage of good investment talent in family offices? The challenges that family offices face in finding and hiring qualified investment professionals.

[7:24] Family office nomenclature: single family office, multi-family office, outsourced CIO model, virtual family office model. What does it all mean?

[12:17] The biggest similarities and differences that Richard sees between family offices.

[16:47] How family offices make investment decisions and source great investment ideas.

[19:11] The risk of over-diversification when making a direct investment

[22:06] How to avoid hiring the wrong family members or staff members to run the family’s wealth, the importance of cultural fit, etc.

[26:06] How to get a meeting with a family office – the three trust curves that you should know when approaching a family office

[28:32] Recommended reading

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Greg Silberman is the Chief Investment Officer of ACG Investment Management LLC (“ACGIM”). ACGIM specializes in creating custom private market solutions for RIA/Family Office clients.

This material is provided for informational purposely only and is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The views and strategies described may not be suitable for all investors. Past performance is no guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested. You cannot invest directly in an index. The opinions expressed are subject to change as subsequent conditions vary. Reliance upon information in this material is at the sole discretion of the viewer. Advisory services offered through ACG Wealth Inc.  ACG Wealth Inc. is an affiliate of ACG Investment Management, LLC.

In this episode, we interview Frazer Rice, former advisor with Wilmington Trust and author of Wealth, Actually.

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In this episode, Greg Silberman, CIO, and David Crook, Chief Economist (and wearer of the bowtie) of ACG Wealth discuss issues of interest regarding Blockchain technologies and the resulting cryptocurrencies that come from them.

For video, click here (https://www.youtube.com/watch?v=o6M56ms5cLs&feature=youtu.be).

For audio podcast, click here.

In this episode, listeners will learn:

[1:09] How does blockchain affect cryptocurrency and what differentiates the two of them?

[3:30] What is a cryptocurrency?

[5:41] Issues of concern about cryptocurrency trading.

[6:14] How an arbitrage trading strategy involving cryptocurrencies could be possible.

[6:50] Cryptocurrencies are held virtually, not at any of the major custodians. How is this a barrier to adoption?

[8:18] Which cryptocurrencies will be the winners and the losers? Just like the dot com (http://dot.com) bubble, this is the Wild West.

[11: 16] We see the central banks of Venezuela, Zimbabwe, and other emerging economies participating, do we see the Bank of England, International Bank of Switzerland adopting a cryptocurrency which would be in competition with their local currency or making it illegal?

[13:38] There are ETFs looking to become approved but do you see crypto being available for trading in forms such as Limited Partnerships?

[17:27] How the custodian for cryptocurrencies are evolving to offer better solutions than cold storage of account information which is not ideal for institutional investors.

[18:30] Should we start including cryptocurrency in our model portfolios as part of our asset allocation?

[21:02] Public vs. Private blockchain

If any questions arise from this discussion, please contact Greg Silberman at [email protected] (mailto:[email protected]) or David Crook at [email protected] (mailto:[email protected]).

 

Disclosures

This material is provided for informational purposes only and is not intended to be relied upon as a forecast, research or investment advice, and is not a recommendation, offer or solicitation to buy or sell any securities or to adopt any investment strategy. The views and strategies described may not be suitable for all investors. Past performance is no guarantee of future results. Investments will fluctuate and when redeemed may be worth more or less than when originally invested. Advisory Services offered through ACG Wealth Inc. ACG Wealth Inc. is an affiliate of ACG  Investment Management, LLC.