Financial folks are all abuzz over the news that billionaire media mogul Oprah Winfrey has just shifted the management of her fortune to her own “Family Office.” As you’ll remember from training, a Family Office is the on-staff professional team that works exclusively to manage a family’s fortune. Generally one needs at least $30 million in investable assets to justify employing a Family Office. The less affluent use bankers and brokers. Oprah’s estimated $2.4 billion net worth more than meets the minimum requirement.
According to an article in The Wall Street Journal, Peter Adamson, a noted family office financial manager with The Bass Family and Eli Broad on his past client list, has been hired to head Oprah’s new financial team upon the recommendation of Oprah’s law firm.All this illustrates the importance of networking with the partners of your city’s top law firms, accounting firms and financial consultants. These professionals often have the clients you’d like to serve and are in a position to refer top notch real estate professions to their very successful clients who wish to be buyers or sellers.
