Table Stakes 2.0

I have spent... 40 plus years as a practitioner in the high net worth and ultra high net worth and family office space.

Um, my original 20 years was spent, uh, in the, in the investment world.

And then my last 20 or 25 years was spent, um, founding a multifamily office in Toronto, Canada.

And, um, I'm, so I was a chairman and CEO of Northwood family office.

We're now part of Coriant.

So I'm a partner with Coriant and I am just recently, a year ago, stepped down as CEO to let the next generation lead.

We're trying to practice what we preach about succession as well, good succession, but we're still around and actively involved with clients and staff.

But I had some time and some interest and a long-term interest Well, a long-term connection to the Institute.

I've been on the board for five or six years.

And the Ultraviolet Worth Institute has been really just an amazing collection of people.

People often ask why you join an organization.

And I would say I joined the Institute because of its vision to elevate the profession of people that serve ultra high net worth families.

And, uh, and the other reason is because of the people who are already there.

And I looked at that, uh, quality and caliber and, uh, integrity and, and, um, years of experience of those people and thought, you know, these are people who, many of whom I knew, I want to spend more time with helping to think through the issues of the Institute.

So I'm the managing director of thought leadership and strategy for the Institute and really took over some of the roles that Jim Grubman was playing and of course have added more to that as well.

So table stakes is a very interesting idea and it's a little bit like a prequel So, because we had developed a number of models to help advisors serve families of wealth, the 10 domains of families, sorry, the 10 domains of family wealth is one that many of you will know or will have heard of.

And other models as well, the AIM framework and the catalyst model and etc., And there were all these good models.

And we said, you know, we need to connect the dots.

We need to fit them together for families.

And that was the genesis for families and for advisors.

But that was the genesis of Table Stakes 1.0, which really is what capabilities does a firm need to have to be in this ultra high net worth marketplace? And so it had these legs of a table that a firm needed to think about, the firm itself and how it operates, the advisors it has and what skills they have, what services they offer and what processes they use.

And that really was the genesis of Table Stakes 1.0, about how a firm might think about being an integrated provider, because more and more and more, we know that families need integration, whether they do that integration themselves, if they're knowledgeable and have time and interest in skills, or they need somebody to help them with it.

They do need to connect all the dots because these are very complex issues they're dealing with.

And inevitably, one decision creates 15 other knock-on effects that require other decisions.

Yeah,