N. An organization of ultra rich”adult” children, that behave as children, who hire top
notch legal, accounting, investment advisors to ensure their heirs do not
blow all their pappy’s wealth on
coke (some leakage assumed and quietly approved). These heirs believe they work for a living but do not even know what that really is. And they believe they are intelligent, which is a mixed
bag at best and even when true wildly exaggerated. The advisors are as advertised, but must comply with one unsaid rule “do not judge or criticize any family member no matter how absurd the behavior or comment.” The
pay is generally worth this indignity.
Also, accompanying any proper FO
will be a shameless group of investment companies that attempt to suck at the teat of the FO. Family office conferences are famous for the hilarity of investment advisors throwing themselves at barely coherent
family members, like
drunk fluzies at a rock concert, for a chance to nibble at a bread crumb that said coke head might remit.
Hey, Peter is on stage at The Family Office (FO) Conference in
Florida acting like he has any clue what he is
talking about. But he did secure co-GP rights on an investment his
family doesn’t understand so for the MF win, right.
