Based on your conversations with the clients that you had, what would be something on the outside looking in where you think like, okay, that normal people wouldn't necessarily know or see about being inside a family office?

Um, yeah, it, it's-- Well, in just understanding the concept, you know, where it came from, I think it's helped people understand it right off the bat.

And so I'll just kind of give you the quick history, which we talked about.

You already know the history, but for our listeners, or your listeners, I should say, we'll kind of just give a quick history on it.

So the, the first Family office on record was started by JD Rockefeller.

And so the concept for him back then, and it's still the same concept today, but for him, he had all these advisors coming at him, and I kind of already touched on this, but you know, he had all these advisors coming at him with all this different advice on what he should be doing with his rapidly growing business.

And he had the epiphany or somebody said, "Hey, you should just hire them." I'm not sure how it came about exactly, because I, I couldn't find that part of how, you know, how the thought process happened for him.

Yeah, like clips here and there of big story of how their wealth kind of dissipated over the years, but-

So Dale, what do you tend to find when someone comes to you and they're like, hey, what's this virtual family office thing? How would you define what a virtual family office is?

Well...

The virtual family office is, like the other family offices, a little bit different.

Just to give a little background on the family office, just a lot of people have heard of the term, but don't really know what it is, where it came from.

So I'd love to give the history of it and then bring it up to today, the evolution of it.

So the first family office on record was started by J.D. Rockefeller back in 1882.

And the reason he started it is he had his business had grown to a certain level to where he had all these different advisors coming at him with different advice, but all in their own silo of expertise.

In terms of the virtual family office space, what do you tend to find in terms of pricing, right? Is that a flat fee? Is that a percentage fee? Or is there some sort of it depends?

So I thought it'd be really good just to start off explaining people.

I think the best way to explain it is to kind of go back and to where they started, you know, where the first family office started.

And, um, and that was with JD Rockefeller back in 1882.

And the reason he...

And, and at that time, it probably wasn't called a family office.

I don't think he coined the phrase right away.

But he had a, a, you know, growing business and a lot of success, but he had, you know, a team of advisors, uh, you know, his CPA and attorney, probably a couple of attorneys, and an insurance person, and wealth management, the whole, the whole team.

So how do people do that? How do they find out? How do they know what's good?