Richard Wilson: the family office work inside a holding company
Richard explained why counting family office employees can be difficult when investment work is carried out by people employed inside an operating company.
The legal employer did not describe every task
His example involved a manufacturing platform whose direct investments were also in manufacturing. Finance and investment professionals inside that company could be doing work that served the family's wider investment activity.
The visible office was only part of the picture
Richard used senior finance roles as examples, including the company's controller. The account concerns where work is performed, beyond the number of people directly assigned to a separate family office.
In Richard C. Wilson's words
"many of your employees might be inside of a holding company." (Richard C. Wilson, How to Start a Family Office mini-series)
How to use this
- Map which investment responsibilities are performed inside an operating company.
- Distinguish the direct family office headcount from the people supporting its work elsewhere.
Questions and answers
Why could the employee count be difficult to describe?
Some family office work could be performed by staff inside a holding company.
Which roles did Richard mention?
Finance and investment leaders employed inside the manufacturing business.