Key Highlights

[00:01 – 19:06] How Multi-Family Office Platforms Grow Rapidly

• Jamie discusses about the overall market 
• There is a category of multifamily offices called “commercial multi-family office,” which refers to firms that have never had a first family but serve higher, larger families
• These firms have grown tremendously in the past few years, and many are now seeking larger, more complex clients

[19:07 – 23:59] What to ask when interviewing a multifamily office

• Private equity firms typically rotate capital within a business unit for five to eight years, and there is a misalignment of interest between the capital sponsor and employees or clients
• The traditional 10-year term is problematic, and how younger principles are considering their own transition to commercial multi-family officesInterest rates on debt financing are more expensive, and this may take a tail off the aggressive nature of multiples

 [24:00 – 43:19] Characteristics of Great RIAs

• The four types of investment firms are: commercial banks, trust companies, RIAs, and brokerage firms
• The culture of a RIA is often that of a “militant fiduciary”
• Why sales is seen as a bad word in the RIA culture, and acquiring new clients is often a condition of staying in business

[43:20 – 47:20] Closing Segment

Additional Links:

LinkedIn: https://www.linkedin.com/in/jameshmclaughlin 

Website: www.jhmclaughlin.com 

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