Circulus Family Office Summit
Before we get to today’s podcast, we’d like to remind you of our first full day event for family offices is in New York on September 19th! 🎉
Circulus is building on its successful digital platform of newsletters (5150 subscribers) and popular podcasts (number 12 in family office podcasts globally) to bring family offices face to face to engage with the power of ideas and build enduring relationships.
Join family office heads and top thought leaders as they discuss changing markets and the major issues facing families. We have a very strong lineup featuring Steve Tananbaum from GoldenTree, Zoe Cruz, head of Menai Financial and former president of Morgan Stanley, and Torsten Slok, the chief economist at Apollo. We also have an exceptional seminar on operational excellence in the family office from Alti Tiedemann Global and a great fintech panel which will be very focused on AI.
This is our first step towards building a global community and invite single family offices to APPLY for an invitation. It is rapidly filling up with some of New York’s 75 top families. This will be a very special event. If you are a single family office, we hope you can join us!
Gregory J. Fleming
Rockefeller Capital Management is a remarkable story, but it is really a story within a story. The Rockefeller family office, started in 1882, set the standard for all family offices up to the present day. Under the steady hands of the founder, John D. Sr., and his masterful guide, Frederick Gates, and passed on to the expansive philanthropist, John D. Jr., the office created a template for preserving, growing and giving away family capital for the betterment of the larger society and keeping the family together that all family offices today look back on.
Rockefeller Capital Management, founded with the Rockefeller family in 2018, is the 21st century refashioning of this legacy, built to address the needs and outlooks of modern families, while also providing a new template for the wealth management business as it faces unprecedented growth. It was their good fortune to find the right person to take on this challenge with Greg Fleming, today’s podcast guest. Greg is a seasoned Wall Street veteran who took everything he learned at the top of storied firms like Merrill Lynch and Morgan Stanley and built a concern that has scaled from $18 billion to $140 billion in only six years. We talk about Greg’s path, starting with the edge-of-your-seat Lehman Weekend in 2008, then going back to lessons learned along the way about the importance of client service and company culture in a very competitive industry. As UHNW wealth management moves from what once was a cottage industry to giant firms managing hundreds of billions, we can see a blueprint for how this growth can be scaled without losing the personal touch.
Please enjoy my conversation with Greg Fleming.
Links
Department of the Obvious: Bezos family office overweight in AI.
UBS Family Office Quarterly. UBS and Citi are now doing these quarterly reports that used to be once a year, and they are getting better and a bit more granular, but personally I find them hard to use as benchmarks. Still useful.
If you find today’s podcast interesting, BCG goes deeper into the challenges of wealth management. As assets grow, profitability continues to be a concern.
Markov Process Ivy League report. We can’t all invest like the Ivy’s, but we can learn from their PE/VC digestion issues.
ICYMI: Yes, you can get a 1,000 year trust for your frozen head.
Thanks for reading. See you in September!
Circulus Group is an educational forum and does not participate in the offer, sale or distribution of any securities nor does it provide any investment, tax, legal or financial advice.
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