EXCELSIOR CAPITAL PRESENTS

Navigating the Complex Landscape of Family Offices

Shaun Parkin, the Managing Director and Founder of Hall Road Investments, is here to discuss the world of family offices.

Podcast: Navigating the Complex Landscape of Family Offices

Shaun Parkin, the Managing Director and Founder of Hall Road Investments, is here to discuss the world of family offices. Shaun has worked with family offices since 2012 at State Street Global Advisors, running the exchange-traded fund business in Australia. He explains that a family office is a corporate entity set up to manage the assets of a single-family and how it can be used for purposes such as anonymity or investing directly with one counterparty. Shaun shares his experience leaving State Street Global Advisors to start his firm. He addresses the challenge of taking all the distinct data sets, aggregating them securely, removing manual components, and being able to analyze the portfolio in real time across multiple parts of the business. Lastly, he provides consulting services to family offices, mainly focusing on operational support, reporting, and investment structures.

Key Highlights

[00:01 – 06:56] Opening Segment

  • Family offices outside of operating companies are relatively new in Australia
  • A family office is defined as a corporate entity set up to manage the assets of a single family

[06:57 – 13:42] Leveraging Technology to Create Digital Family Offices

  • How Shaun struggled with the ‘golden handcuff’ of working for a good business
  • He started his firm four years ago to remove bureaucracy and build something to enjoy working for
  • Technology has changed financial services, and multi-family offices are trying to leverage it

[14:43 – 22:17] Challenges for Family Offices in Australia

  • The biggest challenge for Australian clients is putting in a full-blown tech stack
  • Family offices often fall into a gray area between RIAs and institutional custodial relationships
  • COVID has led to families relocating to Singapore and Australia in Southeast Asia for infrastructure, tax, and stability

[22:18 – 27:10] Exploring the Challenges of Asset Transition and Relationship Management with Family Offices

  • Singapore is an attractive tax regime and has good staff, time zone, and capital allocation
  • The baby boomer generation is exiting and rolling over assets to the next generation
  • A good reporting structure helps engage with the next generation

[27:11 – 35:14] Closing Segment

  • Sherpa Newsletter is a guide to the family office sector, sent out to 1000 people every two weeks
  • Shaun’s daily practice

Additional Links:

Website: https://www.hallroad.com.au 

Shaun’s LinkedIn: https://www.linkedin.com/in/shaun-parkin-41973425/?originalSubdomain=au 

Brian’s Linkedin: https://www.linkedin.com/in/brian-c-adams/

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