Capital Club How Family Offices are Slowly Disrupting the Investment Management Industry with Ron Diamond
Welcome back to the Colloquium Podcast! In this episode, we have Ronald Diamond, founder and CEO of Diamond Wealth, a boutique advisory firm for Family Offices. He represents over 100 Family Offices ranging in size from $250 million to $30 billion. Diamond Wealth invests in private markets (private equity, venture capital, and real estate). In addition, Diamond Wealth has divisions that focus on philanthropy, wealth transfer, investment banking, social impact, and governance.
In this episode, Ron goes to the specifics of a Family Office, from its definition to its impact on society. Ron also shares his thoughts on why Family Offices are slowly disrupting the investment management industry. He also talks about its future and long-term benefits. Join us and listen in!
[00:01 – 01:02] Opening Segment
- Welcome back!
- I introduce Ron to the show
- His background
[01:03 – 23:32] The Emergence of Family Offices
- Ron’s definition of a Family Office
- The cost to have a single Family Office
- How it’s different 20 years ago
- What caused the emergence of the family office space
- The impact of the internet
- Alignment of interest
- The effect of private equity investing and venture capital
- How Family Offices are slowly disrupting the investment management industry
- Ron talks about ‘Patient capital’
- What makes it a solid model
- Family Offices’ impact on society
[23:33 – 31:37] What’s the Future of Family Offices?
- How Ron envisions the future of Family Offices
- His plans of putting up a Family Office center at Stanford
- Educating the public about Family Offices
- The long term benefits of a Family Office
- Ron talks about Family Offices that are getting it right
[31:38 – 40:42] Closing Segment
- Ron talks about the services his company provides
- He shares his thoughts on current compelling investment opportunities
- Closing words
Tweetable Quotes:
“It's not just about creating alpha, which is terrific, everyone wants to make more money, but I think that it's gonna be more beneficial to society… There are issues that have to be addressed, and I think family offices are more apt to take that into consideration when investing than a corporation.” - Ron Diamond
“At the end of the day, everyone wants to make a lot of money, and that's terrific, but at what cost? And I just think that family offices, because many of them are so philanthropic and many of them are holistic and heir intent is to make it last, that it'll have a lasting impact.” - Ron Diamond
Resources Mentioned:
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