The decision makers at 6 family offices reveal what it's really like behind the scenes at the private wealth management firms managing billions – and why they are so secretive
But despite their growing influence, you will rarely hear from the people running family offices.
"There is a certain generational elegance to focus on the family and not peacock in any capacity," said Oliver Swig, the scion of"I've always been hesitant to speak to anything that could have the wrong appearance to other family members." The world of family offices is built on relationships and trust before everything else. If you're in, you're in, but do anything to offend the family, and you will be frozen out permanently. Families are often surrounded by the same circle of close advisors and investing partners for decades.
say they do not expect their venture investments to necessarily perform well. But they have enough wealth already that they do not mind backing favored causes, which in her case is creatives and underrepresented founders. He added there is a strict hierarchy, in descending order from the highest assets under management on down. The richest family offices – who meet up at marquee sports events like Wimbledon and the World Cup – generally want nothing to do with those who manage lesser amounts.
The dynamic can be especially tricky with larger, multigenerational families full of different perspectives and priorities, according to Swig, who convinced other family members to let him start a separate investing arm focused on tech,
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