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What is family office?N. An organization of ultra rich”adult” children, that behave as children, who hire top notch legal, accounting, investment advisors to ensure their heirs do not blow all their pappy’s wealth on coke (some leakage assumed and quietly approved). These heirs believe they work for a living but do not even know what that really is. And they believe they are intelligent, which is a mixed bag at best and even when true wildly exaggerated. The advisors are as advertised, but must comply with one unsaid rule “do not judge or criticize any family member no matter how absurd the behavior or comment.” The pay is generally worth this indignity. Hey, Peter is on stage at The Family Office (FO) Conference in Florida acting like he has any clue what he is talking about. But he did secure co-GP rights on an investment his family doesn’t understand so for the MF win, right. family office - videoFamily office - what is it?An office (real or metaphorical) in which the wealth of a family or families is managed. Contrary to what JD says, a family office does not require $100M. And M stands for one million. Yeah, he hit his FU number and now just runs his $10M family office. |
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