How To Raise Capital From A Family Office With Richard Wilson

About Richard:

Unrelated to real-estate:

  • Richard started his business and lived in Portland Oregon, not NYC.
  • Richard worked for free until he managed to get his first position.

What I learned:

Richard grew up in an entrepreneurial home where his father raised money from high-net worth individuals for charities and hospitals. This instilled the money-making spirit in him, leading him to start 5 businesses before he left high school! Richard finished college and went into risk consulting which funded his way through an MBA by the time he was 23.

Richard is the founder of the Family Office Club who are thought leaders and consultants in the family office space. Family offices come in two types; single or multi. They both work as a 360 degree management team for a family’s wealth doing investing, insurance and savings instead of using a standard bank. The difference between single and multi is whether the office manages more than one family.

The Family Office Club offer webinars, videos and podcasts about family offices and hosts a conference every quarter to learn more about the space and as a chance to network and look for investments. The family office world has changed over recent years as more people become wealthy and the financial crashes forced families to look for ways to care for their money outside of banks. Richards company adapted to these changes by offering consulting for free and creating affordable events and white papers.

Richard often gets asked how he meets these rich families and earns their trust. Richard explains that it’s not about hunting them down, but offering a valuable service so they come to you. You need to identify a niche of influential people or groups, eg over 40mil in San Francisco, and create education and content aimed at this niche. Do whatever you can to be the most important value giver in that group.

No two family offices are the same; however they can be grouped by geographical area and by how much they are worth. Although you can’t predict how each family office will invest in property, it’s likely that each group will invest in similar ways. They are looking for a trustworthy investment and they measure trust on where the deal is coming from, who it’s going to and the credibility of the asset.

To continue the conversation with Richard contact him through his website

Until Next Week, Happy Investing!

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