A 90-day setup plan for a billionaire family office
Built on Chapter 6 of The Single Family Office by Richard C. Wilson. Full chapter text: FamilyOffices.com.
Use the first 90 days to establish control over the work the family already needs done. A new office does not have to look complete on opening day. It does need to know who can approve a payment, where the records are, and which obligations are approaching.
Chapter 6 describes a sequence that begins with listening and a family compass, moves through resources and implementation, then continues into operations. The schedule below is an organizing plan, not a promise that every family can finish its legal and hiring work within the same period.
Days 1 through 30: establish the facts
Name the person coordinating the launch. Give that person access appropriate to the role and a clear route to the family decision maker. Keep a record of open issues and who is responsible for resolving each one.
Build a family tree and an ownership map. Gather verified account information, governing documents, and the current list of advisors. Identify obligations requiring immediate attention. The office should know which entity owes the money and who is authorized to arrange payment.
Ask the family what the office must accomplish and what it wants to avoid. Put differences in expectations on the table before they become assumptions inside a staffing or investment plan.
Keep essential work operating
Do not wait for the launch project to finish before checking payment permissions and access to records. Confirm the current process for urgent obligations, independently verified bank instructions, and backup coverage for critical work.
In my summit opening remarks, I remind attendees to conduct full diligence even when someone describes an existing relationship with us. That discipline applies to the launch. A provider inherited from the business still needs an assessed scope and a clear explanation of the work it will perform for the family.
Record temporary arrangements and who approved them. Employees should understand which instructions are in force while longer-term policies are being completed.
Days 31 through 60: turn objectives into a design
Use the family compass discussion to define service scope and priorities. Decide which work needs an employee and which can be handled by a qualified provider. Assign coordination responsibility for the outside specialists.
Ask counsel and other relevant professionals to assess the proposed structure and activities. Give them the actual facts about participants and locations. Include the investment plans. Identify dependencies that could delay accounts or contracts.
Build the operating budget from the work. Include implementation costs and ongoing obligations separately. The family should know what it is approving before recruitment or vendor commitments create a continuing cost base.
Days 61 through 90: test the operating procedures
Complete account and provider arrangements as their required checks allow. Prepare usable payment and reporting procedures. Document the investment approval process as well. Make sure the people expected to perform the work can find the instructions and the supporting authority.
Run a controlled test of the reporting process using real records. Reconcile material balances and explain unresolved differences. A polished report should not hide missing ownership or liability information.
Walk an investment proposal through the approval process without committing capital solely to demonstrate progress. Confirm what evidence the committee needs and how a funding employee will know the approval is complete.
Decide what counts as ready
Set minimum operating conditions. The family should receive understandable reports, critical work should have backup coverage, and obligations should have responsible owners. The approved authority and access arrangements need to work in the actual systems.
List unfinished work separately with responsible people and expected decision points. Recruiting a specialist or completing a complex structure may extend beyond the initial plan. The office can remain controlled while those tasks continue.
Clear the small questions before the call
In my recorded discussion of agendas, I describe answering several proposed topics before a call and spending the conversation on the item that needs real attention. I would use that working habit during an office launch. Before the weekly setup meeting, ask each advisor for the decision they need and the document holding it up. Resolve routine questions in writing when possible. Then use the meeting for the unresolved dependency, such as who can authorize an account or which records are missing. The agenda habit is mine; this is an application to keeping the setup work moving.
What to take from this
- Verify the assets and authority, then identify upcoming obligations.
- Define service scope before committing to a permanent team.
- Separate temporary procedures from the intended final arrangement.
- Test real work before describing the launch as complete.
At the end of the period, ask the launch lead to show one reconciled report and one completed approval record. Use those records to assess readiness and assign the remaining work.
This page is general information, not legal advice. Family governance documents and dispute processes should be reviewed by a qualified attorney.
Questions and answers
Is 90 days a guaranteed completion date? No. It is a planning horizon. Legal work, recruiting, and account requirements can take longer depending on the family.
What should happen first? Confirm current authority, protect essential work, and gather reliable information about assets and obligations.
Should the office invest immediately? Only through the appropriate policy, diligence, and approvals. A launch schedule is not a reason to commit capital.