I once read that happiness is solving problems. In family offices, problems can be very unique and provide a special challenge to understand.
Therefore it’s not surprising that in recent discussions with family office principals, often one of the things they mention as truly enjoyable is assisting other families with challenges they have already faced.
Sense of fulfillment
Family office members often have extensive experience and expertise in various fields, and sharing their knowledge with others can be a rewarding experience that gives them a sense of fulfillment.
Building Relationships
Providing advice to other families can provide opportunities to engage with those outside their normal social circles. I met with one New York based family office and this exposure to other generations or geographies was a major benefit.
Legacy Building
To be seen as a person or family that shares knowledge and provides assistance to others creates a positive legacy that money can’t buy. By sharing their knowledge and experience with others, they can leave a lasting impact and make a difference in the lives of others.
Learning and growth
When you share information or experience, it is rarely a one-way street. By engaging with other families and hearing about their experiences, they can gain insights into different perspectives and potentially learn new strategies and techniques.
Opportunity
When you provide true value to someone, the positive impression can last a lifetime. And not that this is the intent, but that positivity his can lead to increased opportunities for collaboration and investments.
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Cheers
Shaun.
“Hall Road Investments Pty Ltd is a Corporate Authorised Representative (CAR No. 001279456) of Non Correlated Capital Pty Ltd (AFSL No. 499882). Shaun Parkin is an Authorised Representative (AR No 001279458) of Hall Road Investments Pty Ltd (CAR No. 001279456) and is authorised to provide general advice to wholesale investors”
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