The Family PEOPLE Office™ - The Missing Half in Total Wealth Management
- Mark Demos
- 17 hours ago
- 3 min read
PEOPLE are our business. PEOPLE who are members of Ultra-High-Net-Worth Families. PEOPLE who together as a family equal the Family Human Capital Portfolio™. These families are the essential and consequential Wealth, that determine whether a family will survive to the next generation and beyond.
The success and survival of the Family Office and Private Wealth Advisors are intricately linked to the Wellbeing of the family it serves. When the PEOPLE and family as a unit are expertly cared for and protected, the Family Office is likely to prosper. Conversely, when the family and it's PEOPLE struggle and fail, there are direct co-relations that affect the strength and success of the Family Office. PEOPLE and families must be expertly understood and developed, and ever-present risks, mitigated. If not, they will likely be the cause of the demise of the Family's Wealth and Office.
There are two ever-present sources of fear that exist in the Wealth Management.
What happens if we lose it all?
Family Offices and Private Wealth Advisors fear the disintegration and demise of the families they work for. The threat is ever-present.
Primary issues like Succession Management are profoundly affected by problems of character, anxiety, entitlement, addiction, failure to launch, weak parenting, lack of self-identity, issues of unforgiveness towards family members. Ultimately, the family's behavior and character will directly mirror the performance and outcomes of the Family Office.
The challenges only intensify when focusing on Gen Z. According to renowned social psychologist and author Jonathan Haidt, the effect of social media on Gen Z represents "the greatest destruction of human capital in human history," leading to what he describes as "The Anxious Generation". This characterization highlights the complexities Gen Z faces as you prepare them to manage vast wealth they never spent a day creating.
If you banking on better engagement in Financial Education and Family Governance solely, you might be preparing them for "the greatest destruction of both human and financial capital in human history". The importance of beliefs, values, virtues, faith, character and a well-defined sense of purpose is well advised to be the primary focus of parents as parents, and as a family. If it is not, there is a very high likelihood of turmoil and distress ahead.
The Family PEOPLE Office™ is here to help you prepare your families for a great future where their Human Capital can be identified and deployed to serve others and build successful lives. We have experts in Wealth Psychology, Values Bases Parenting and Virtues, the integration of values into personal actions.
As Private Wealth Advisors or Family Offices you are often as worried as the families whose wealth you manage. You know we live in very uncertain times. A new version of financial markets and the uncertainty of geo-politics. The families you serve have two fronts to fight for success. Their portfolio and their People.
A family can survive the loss of their wealth and many wish they could, and long for simpler days. What you cannot survive as a Family Office is a family that disintegrates. As a Private Wealth Advisor you can move on and find another client.
Families desperately need what The Family PEOPLE Office™ and The Legacy Forum™ bring to Wealth Management, your worlds. There is not a family that does not need what we bring to the table. Legacy Building, Crisis Management, UHNW Focused Parenting, In-Home Rehabs, NextGen Values Innovation, Talent and Character Integration, Launching The Anxious and so much more. People are our business and UHNW Families are our Mission!
I invite you to call me (425) 492-4300 or email me mark.demos@thelegacyforum.com We have spent 35 years dealing with UHNW families, sometimes when it is too late. The Family PEOPLE Office wants to Get UHNW families strong before the inevitable happens. Let's talk.
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