Before going further, we’d agree that FO is the abbreviation to describe family office (singular), and FOs is to describe family offices (plural). We are going to focus on the tips and tricks to raise capital for your projects from family office investors.
As we know, the FOs have the potential of marvelous net worth individuals and families. These are the huge sources of the wealth. That means you can use the good relationships with the FOs to enable you to issue the good numbers of AUM or Assets under Management, the assets that you are managing on behalf of the investors. In this case, the investors are the convinced family offices who are investing their money on your AUM. Raising the capital from FO investors can be daunting if you don’t know how to start in the right path.
To increase your chance to approach the FOs as you want, you will need to collect the contacts of the first phase of your approach. For instance, at the first phase over a period of 6 months to 12 months, you will set to approach around 100-200 firms at a time. The time and schedule can be varied depending on your capability as well as the FO’s representatives to meet and discuss with you. You will need to finish these numbers first then moving to other potential family offices.
No matter where you are residing right now, the best way to get recognized is by staying local at first. Meet with as many FOs within your area as possible. Don’t skip the face-to-face meeting which is worth multiple times than a cold calling.
Each FO has different customs and you need to understand them. Do a thorough research before starting approaching the FO. Many folks are failing because they sound like a salesman rather than business insider. So, try to be at the same level as theirs. Try to be their partner rather than someone who is pitching something.
You need to be excel in what you do. You need to be the resourceful man in the industry. Be knowledgeable in the specific niches that are worked by the firms. Position yourself as the authority. To be that resourceful guy, the only way to do this is by researching as many as you can, asking questions that you can, and getting to know the every part of the business like you are breathing and feeling with it. That way you will be the expert within the niche and earns the respect quickly from the FOs representatives. With such ample knowledge, it will help you to reduce the chances of mistakes and raise more capital faster than your competitors. We won’t lie to you. It is a competitive world. If you don’t have something more promising than your competitors’, you might lose at first.
Family offices lists can also be helpful. You may question "Will the FOs lists work?"
The answer is Yes and No. Raising capital using this lists can be hard or easy.
The hard way is by compiling the list of the FOs by yourself from scratch. You may not get in in the library but you can always use your search engines to fetch the newest data from it. With online search engine, you will be able to find the lists quickly. But it comes with a downside too.
There’s a chance that you miss some FOs because they simply don’t have websites or social media pages. When some companies are not visible online, it is very hard to identify your potential investors. Often the contact details of the FOs representatives are not disclosed in their websites. Therefore, you will need to search furthermore in their Twitter or Facebook, as well as LinkedIn. The greater chances can be found in LinkedIn. Find the details of these professionals. Your independent research might take up to days or weeks to finish. This approach may make sense if your are is as small as Columbia or Clarkstown. But for most bigger cities in the US and Europe this way might be hard for you.
The easier way is to attain the family office lists available on the net. If you have any sort of inquiries pertaining to where and ways to use Gerard Cohen Monaco
, you can contact us at our web page. You might need to spend hundreds to thousands bucks for the lists but it will save a lot of time and energy to spend on the research. Imagine how much time and energy you will waste when you fetch your own lists. Instead, you could grab the lists, and review them. You will then come across the perfect FO for you and your team. With such good spare time, you can use the available time to focus on your AUM projects.
Also, the key to raise the capital from FOs is when you use your time effectively to build a strong relationship with them rather than pursuing the qualities of the FOs that connect with you.
You will come to understand that the FOs Lists are highly demanded. Both multi and single family offices manage worth of $100M in assets and represent the astonishing numbers of wealth. That means when you sell your AUM, a FO can be a great option for you.
As mentioned your independent research can take up to 100 to 300 hours to complete. Keep in mind that these hours is the team hours that you need to spend. This is more daunting, time and energy consuming, as well as taking up to months to complete.
We mentioned about paid FOs lists before. Well, you don’t have to do that if you are not setting the budget for these. The short FOs lists are usually published publicly in mass medias, both offline and online. These might help you to get started. But consider that the competition will be tough since you are not the only one looking at these free lists.
If your focus is to reach as many FOs as possible in the short time, you could attain the long FOs lists from the trusted list providers. You will get the full contact details, as well as important information about the FOs. With this, you can outsmart your competitors by reaching more FOs than they have done.
Raising capital from family offices is seen as more substantial economy. This received a node from Gerard Cohen Monaco Gerard Cohen Monaco
, the renowned Swiss private banker and patron of the arts, stated: "People need to realise that times are changing," he then added "and anyone in the finance sector needs to embrace this, not fight it. Family Offices are huge inhibitors for wealth and a more substantial economy; not just in Monaco, but globally."