How a Multifamily Office Serves Families Under 300 Million

At a Family Office Club event, Richard C. Wilson introduces a speed panel moderated by Dr. Cook, where Kip describes Family Wealth Leadership's work with families.

Kip describes how Family Wealth Leadership serves families through a multi-family office. He discusses investment approaches, family office and foundation structures, and ways families can take part in philanthropy.

In this video: Richard C. Wilson (Introducer and event host), Dr. Cook (Panel moderator from Sunburst Ventures), Kip (Family Wealth Leadership multi-family office professional)

What they said

1. Kip on families below 300 million. Kip says his firm focuses on families under 300 million, including families with 25 million, 50 million or 150 million. He says families that go over 300 million think single family, while his firm can provide the services they need at a more cost-effective basis.
2. Kip uses funds to diversify client investments. Kip says clients may be able to put 200 or 250,000 dollars into a deal, rather than a million dollars. His firm uses funds to give clients diversification, with investments spanning marketable securities and real estate such as multifamily, self-storage and student housing.
3. Kip on hands-on philanthropy. Kip says a family foundation can be a donor advised fund or a full foundation. He encourages boots-on-the-ground philanthropy, giving examples such as drilling a water well or building a school, hospital or church.
4. Kip as a family enterprise officer. Kip describes his role as a family enterprise officer who helps operate a family's office and foundation. For assets his firm does not provide, he says it turns to other sponsors, for family needs, it brings in outside resources when needed.
5. Kip on what gifts can cost children. Kip cautions that giving children things may deprive them of self-respect. He says the challenges of belonging to a wealthy family can be difficult for some children.

In their words

"Usually we're going to do it in a fund format cuz that gives the client some diversification"

"Emotions run really high in families."

Why it matters if you are building or preserving great wealth

Kip says a family that drills a water well together may remember that work long after a routine vacation. The shared project gives relatives a concrete way to take part in the foundation's common goals.