Capital Club Why a Family Office is More than Just the Investments with Thomas Kim
Investments come second in family offices. Today’s guest, Thomas Kim, talks about why in this episode. Tom is the President and CIO of The Agnew Company, where he's responsible for the overall leadership of the company and its broadly diversified investment portfolio. Tom holds a B.S. in Chemical Engineering from Cornell University and a Ph.D. from The University of Chicago.
In this episode, Tom talks about why a family office is more than just the investments. He dives deeper into the element of purposefulness in a family office and why this component is often missed. Tom also talks about cultures in a family office and why it’s important to know whether something is a passion project or not. Listen in!
[00:01 – 07:05] Opening Segment
- Welcoming Tom to the show
- Tom shares his background
- Getting into alternative investments
- His background in commercial real estate
- Earning his Ph.D
[07:06 – 20:17] Why Investment Comes Second in a Family Office
- Tom’s definition of a family office
- Working in a family office vs. working in Wall Street
- Where family offices are in the current financial ecosystem
- The element of purposefulness in a family office
[20:18 – 35:54] A Closer Look at Cultures in a Family Office
- Tom talks about cultures in a family office
- Cultural differences in various family office developmental stages
- Fact patterns Tom has seen in sustainable families
- Why it’s important to be clear about whether something is a passion project or not
[35:55 – 42:29] Closing Segment
- The evolution of real estate in terms of family offices
- Closing words
Tweetable Quotes
“That purposefulness of the family office – once you say, ‘I want an office, I want to somewhat more responsibly structure how my capital and my wealth is being managed and do it not just for me, but for my partner, my wife, my children, their children, their children's children.’ – it's a more social and more symbolic gesture to what it means to be part of that family and your responsibility to society at large. I think that element is sometimes missed.” - Thomas Kim
“Whatever you do, no matter how big or small you are, one of the due diligence questions should be is, ‘Is this a passion project or not?’” - Thomas Kim
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