Family Offices in the Funding Ecosystem

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Show Overview

Family offices – private wealth management for ultra-high net worth individuals – make investments, donate dollars, and have the kind of flexibility that other institutional investors may not have.

In this episode, the GFGF crew explores with our guest, Karen Wawrzaszek, Principal with SBSB Financial Advisors, how family offices work, how founders can find family offices to work with, and the possibilities for how family offices may change the funding landscape.

About GFGF:

The Get Found Get Funded podcast is at the intersection of entrepreneurship and social justice where we focus on entrepreneurship as a possible path to wealth creation — specifically for Black and Latinx communities.

 

Featured Guest:

Karen Wawrzaszek CFP®,CTFA

Principal at SBSB, LLC – Financial Planning Strategist and Lead Impact & ESG Investment Specialist

LinkedIn: https://www.linkedin.com/in/kwawrzaszek/

Website: https://sbsbllc.com/ 

 

Key Takeaways:

The number of family offices is growing in the U.S.

Family offices can be a source of funding for entrepreneurs.  However, each family office is different and has its own focus and mission.  

In order to be effective in reaching out to family offices, do your homework and make sure your company matches with what the family office supports.

Family offices can offer ‘patient capital’ – but you have to know how to present yourself and build a relationship.
Listen to the episode for specific ideas on how to do so!

 

Timestamps:

1:29  Definition of a family office

4:17  The different types of family offices

12:00  The types of funding family offices provide

24:22  The different mindsets of family offices – and how to find out

25:00  How to find family offices

36:05  The growth of family offices

41:03  More to find out the goals of a family office

47:18  Family offices can collaborate with each other

52:39  How policy affects investment

1:00:56  Emotional ties to money

1:03:42  How Karen got into working with family offices

1:08:51  What Karen’s working on now, and wrap up

 

Items Mentioned in the Show:

On opportunity zones: https://sbsbllc.com/is-it-right-for-you-are-opportunity-zones-a-good-opportunity-for-investors/

Quotes From The Show:

  • “There are plenty... of family offices that have an angel investor kind of philosophy... It's in their ethos -- especially the newer family offices”
  • “The next generation and the millennials really pull quite heavily to wanting freedom to make different investments that meet more of... how they feel their place in the world is right now. A good example is they embrace job mobility, like no other generation really has... so, they really are entrepreneurial. They're risk-takers in that way…”
  • “You're going to see a greater degree of impact orientation from different families based on their geography [and] based on the kind of business that generated the wealth.”
  • “We invest in something that's relatable, we give to something that we sometimes have had a personal experience or have been a recipient of ourselves. We all attach personal and emotional ties to money.”
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