The Family Office Sherpa Family Office Services - What Are Clients Looking For?
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Aug 9, 2024 Dive into the landscape of family office services as experts dissect what clients truly seek. Discover how specialization and transparency can drastically enhance service delivery. Learn about the distinctions between family offices and other client types, emphasizing a personalized approach. Find out why understanding client needs and avoiding overselling can lead to more effective partnerships. This insightful discussion serves as a roadmap for anyone involved in curating family office services.
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Family Office Segmentation
- Family offices are a distinct client segment, more similar to endowments and foundations than retail or institutional investors.
- They often utilize private markets and illiquid assets, demonstrating long-term investment strategies.
Hall Road Investments Origin Story
- Shaun Parkin started Hall Road Investments because a family office client's custodian bank wasn't meeting their needs.
- This highlights the demand for non-custodial tracking and reporting services.
Dedicated Family Office Unit
- Create a dedicated business unit with a single point of contact called "Family Office Services."
- This demonstrates a serious commitment to family office needs and recognizes them as a unique client type.