How Family Offices Build Trust Before a Deal
The discussion is led by moderator David, who opens with an anecdote about a capital seeker overlooking basic courtesy while trying to reach a family office. Panelists then describe their own ways of assessing trust, including evidence of prior work, personal conduct, shared values and the quality of relationships. A closing promotional segment features Richard C. Wilson describing Family Office Club.
In this video: David (Panel moderator), Randy (Former leader of a national family office practice at a public accounting firm), Brent (Panelist who describes an equation for trust), Eric (Panelist who discusses investing, health and relationships), James (Panelist discussing trust in the art world), Richard C. Wilson (Billionaires.com owner and Family Office Club host)
What they said
- Randy on past performance and relationships. Randy says his family office considers past performance, referrals from other families, friends and contacts at meetings, along with similar interests.
- Randy on co-investing. Randy says the family office may co-invest with a family it trusts. He says participants need money in the game or a history of involvement.
- Brent on the trust equation. Brent frames trust as reliability, credibility and intimacy divided by self-interest. He says trust accelerates when the first factors are higher and self-interest is lower.
- Eric on human due diligence. Eric says AI has compressed analytical work from months and weeks into hours. In his view, deeper due diligence still depends on people sharing and having joint values.
- James on vulnerability. James says vulnerability matters when investors entrust people with capital, time or personal thoughts. He describes giving artists support and seeing how they respond.
In their words
"he forgot to be human. He forgot family offices are people, too."
"How do I take care of my own health? How do I take care of the people around me?"
Why it matters if you are building or preserving great wealth
David was the gatekeeper for Ray, so the visitor's courtesy affected access before anyone assessed the deal. The panel's examples suggest trust can shape who gets a conversation in the first place.
From Richard's exclusive Billionaires.com interviews
Lessons from Richard C. Wilson's one-on-one interviews, as published on each interview page.
- Anu Aga: Focus on one main cause. Her family found its giving more satisfying and impactful once it chose primary education for the underprivileged in India.
- Binod K. Chaudhary: Never chase a deal out of desperation. Stay cool and look at every part of the deal. Have your advisers and your finance team review it critically. Your counsel should review it too.
- Larry Connor: Learn from every mistake. Larry's team owns its failures and makes no excuses. They learn, change quickly, and keep getting better.
See the data
Frequently asked questions
What personal event changed Eric's priorities?
Eric learned of his brother's stage-four lymphoma six hours before Eric became a father. Eric said the news changed how he thought about life and the people he wanted to work with.
What did Randy say his investment committee does?
Randy said the committee sets rules for establishing trust and deciding whom the family office will meet.
Sources
Quotes are copied from the video captions and checked against the transcript. Timestamps link to the moment in the video. General information only, not legal, tax or investment advice.