130: Family Offices – Lifestyle Strategies of the Super Rich with Richard Wilson

Invest Like a Boss

Sam Marks Johnny FD Derek Spartz

Business, Investing

4.8 • 518 Ratings

🗓️ 14 October 2019

⏱️ 69 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Richard Wilson is the CEO of Centimillionaire Advisors, LLC, a company providing performance-based family office solutions for $100M+ net worth families. He is also the founder and head of Family Office Club, the largest community of registered family offices globally with over 1,750 private investor members.

During the episode, Richard brings us into the world of the super rich with over $100M net worth. After working for them for several years, he has learned several strategies on how they accumulate their wealth. He explains how the ultra-wealthy manage their assets and lifestyles, how they aspire for growth, and what common mistakes they make.

Where we are:

Johnny FD – Mexico
Sam Marks – North Carolina

Links:

Time Stamps:

7:05 – What is a family office?
7:24 – “The richer you are, the busier you are” – Richard Wilson
8:04 – Why do the ultra-wealthy need a family office?
8:35 – How much worth are people with family offices?
12:06 – Managing assets and lifestyle of the ultra-wealthy
14:46 – Building a team for the family office
16:19 – Financial planning for investments
18:26 – Outsourcing of $50M vs. $100M net worth families
21:03 – Who are the Centimillionaires?
23:41 – What he learned while working in a family office for years
27:02 – Do the ultra-wealthy still desire for growth?
31:55 – Important notes in wealth generation
32:20 – “It’s not just you work hard and you become ultra-wealthy” – Richard Wilson
33:33 – Maintaining assets of rich people
34:51 – Common mistakes of the ultra-wealthy
35:39 – “Some reasonable plan can help keep things in check” – Richard Wilson
36:08 – What to expect from Family Office Club?

If you enjoyed this episode, do us a favor and share it! Also if you haven't already, please take a minute to leave us a 5-star review on iTunes and claim your bonus here!

Transcript

Click on a timestamp to play from that location

0:00.0	Hey bosses. This week's sponsor is masterworks.io, the pioneer in blue chip art investing for everyone.
0:09.2	We'll tell you more about them during the break.
0:12.8	Welcome to the Invest Like a Boss podcast. I'm Sam Marks and I'm Johnny FD. We're self-made entrepreneurs who invest our own money and use modern technology to invest like a boss.
0:21.3	Join us each week for exclusive interviews with our network of modern investors, business owners, and multimillionaires to discover new ways to invest our hard-earned cash.
0:31.0	Hey boss, this is Johnny and welcome to episode 130 of the Invest Like a Boss podcast.
0:40.6	Sam and I have both left L.A. and Vegas.
0:44.2	I'm in Cancun, Nesco, and Sam, are you back in Tampa?
0:45.3	Charlotte.
0:47.1	Charlotte, North Carolina now.
0:47.4	Yeah.
0:53.6	Still out of boxes, working, using my suitcase as a temporary desk.
0:57.1	But it works. Hey, it works. Nice. does it feel good to be settled back home at least uh no not actually i was really enjoying los vegas in n la and being with
1:04.1	everybody and now it's kind of quiet unpacking boxes uh i'm not quite settled yet but it was a
1:10.6	whirlwind last week buddy buddy. What a great
1:12.3	event. That was exciting. So for you guys who missed the Invest Like a Boss summit in L.A. and Vegas,
1:19.3	we wish you were there. Take a look at some of the photos on our Facebook page, look for Invest like a
1:24.1	boss. But it was a great event. It was really fun. Really good. And the Vegas was just, I think that setup, Johnny, is perfect. We do kind of one day dedicated content, networking, professional stuff, although we did have fun. And then you take kind of a one day breather and then go have fun for one day. For our audience, I think that's the perfect setup.
1:44.9	Yeah, it was definitely fun.
1:46.0	Unfortunately, a big percentage of people couldn't make it to Vegas with us, but we had
1:51.5	a good, you know, small group of bosses came out for drinks.
1:55.1	We had tapas at the Cosmo.
1:58.1	And then we drove supercars.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Sam Marks Johnny FD Derek Spartz, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Sam Marks Johnny FD Derek Spartz and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.