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So she's a family office for single people. (https://en.wikipedia.org/wiki/Family_office https://en.wikipedia.org/wiki/Family_office) The Varian Rule, which is

So she's a family office for single people. (https://en.wikipedia.org/wiki/Family_office https://en.wikipedia.org/wiki/Family_office) The Varian Rule, which is about how the future resembles how the rich live today, the middle and poorer classes will have tomorrow, may apply here. Multi-family offices for middle net worth individuals seem like a plausible future. I can't seem to convince my lawyer and accountant friends that this is a viable service because (I think) they are basically not entrepreneurial, and big firms don't offer it because they are already fighting and maintaining position in the HNWI market. A one-stop shop that handles everything from taxes, to parking tickets, legal advice, to investments, insurance, and even medical, could be worth it for a lot of people. What makes it viable now is that families with the kind of money worth professional management are still actually working for it each day, that is, still making this kind of money on their labor instead of returns on capital, so they have the income (albeit less in assets), but not the time to manage it properly. I would look forward to using such a service...one day. :)

Invictus0 8y ago
Lots of these services are being created piecemeal. Professional management works for these people because the clients are overwhelmed and don't know what they're doing. They don't know how to budget X million dollars for 4 years. Most average people think that they do know what they're doing. They have a few hundred in the bank, they're paycheck is the same and comes every 2 weeks, and they know the price and value of the things they need. They don't suffer from the illusion that they can buy jetskis on a whim without bankrupting themselves.
- motohagiography 8y ago
  Arguably, that Lamborghini is even a thing suggests otherwise. There is tons of new and younger money out there that could be deployed to build real lasting foundations for families, at least enough for grandchildren to have private school and college taken care of.
hyperpape 8y ago
I shudder to think about how much time it takes to juggle all the different financial things I deal with, and how sub-optimal they are because it's too much of a pain to coordinate. Lovely example: I have autopay for all my recurring expenses except my water bill. Through some mixture of losing some information and the shittiness of their website, I can't get a login to set up autopay. So each month, I spend a few minutes on the phone to pay--it doesn't require authentication to pay over the phone, but it requires authentication to pay over the web.

Invictus0 8y ago

Lots of these services are being created piecemeal. Professional management works for these people because the clients are overwhelmed and don't know what they're doing. They don't know how to budget X million dollars for 4 years. Most average people think that they do know what they're doing. They have a few hundred in the bank, they're paycheck is the same and comes every 2 weeks, and they know the price and value of the things they need. They don't suffer from the illusion that they can buy jetskis on a whim without bankrupting themselves.

motohagiography 8y ago
Arguably, that Lamborghini is even a thing suggests otherwise. There is tons of new and younger money out there that could be deployed to build real lasting foundations for families, at least enough for grandchildren to have private school and college taken care of.

hyperpape 8y ago

I shudder to think about how much time it takes to juggle all the different financial things I deal with, and how sub-optimal they are because it's too much of a pain to coordinate. Lovely example: I have autopay for all my recurring expenses except my water bill. Through some mixture of losing some information and the shittiness of their website, I can't get a login to set up autopay. So each month, I spend a few minutes on the phone to pay--it doesn't require authentication to pay over the phone, but it requires authentication to pay over the web.