How Family Offices are Slowly Disrupting the Investment Management Industry with Ron Diamond
Welcome back to the Colloquium Podcast! In this episode, we have Ronald Diamond, founder and CEO of Diamond Wealth, a boutique advisory firm for Family Offices. He represents over 100 Family Offices ranging in size from $250 million to $30 billion. Diamond Wealth invests in private markets (private equity, venture capital, and real estate). In addition, Diamond Wealth has divisions that focus on philanthropy, wealth transfer, investment banking, social impact, and governance.In this episode, Ron goes to the specifics of a Family Office, from its definition to its impact on society. Ron also shares his thoughts on why Family Offices are slowly disrupting the investment management industry. He also talks about its future and long-term benefits. Join us and listen in![00:01 – 01:02] Opening SegmentWelcome back!I introduce Ron to the showHis background[01:03 – 23:32] The Emergence of Family Offices Ron’s definition of a Family OfficeThe cost to have a single Family OfficeHow it’s different 20 years agoWhat caused the emergence of the family office spaceThe impact of the internetAlignment of interestThe effect of private equity investing and venture capitalHow Family Offices are slowly disrupting the investment management industryRon talks about ‘Patient capital’What makes it a solid modelFamily Offices’ impact on society[23:33 – 31:37] What’s the Future of Family Offices?How Ron envisions the future of Family OfficesHis plans of putting up a Family Office center at StanfordEducating the public about Family OfficesThe long term benefits of a Family OfficeRon talks about Family Offices that are getting it right[31:38 – 40:42] Closing SegmentRon talks about the services his company providesHe shares his thoughts on current compelling investment opportunitiesClosing wordsTweetable Quotes:“It's not just about creating alpha, which is terrific, everyone wants to make more money, but I think that it's gonna be more beneficial to society… There are issues that have to be addressed, and I think family offices are more apt to take that into consideration when investing than a corporation.” - Ron Diamond“At the end of the day, everyone wants to make a lot of money, and that's terrific, but at what cost? And I just think that family offices, because many of them are so philanthropic and many of them are holistic and heir intent is to make it last, that it'll have a lasting impact.” - Ron DiamondResources Mentioned:Excelsior Capital------------------------------------------------------------------------------------------Connect with Ron on LinkedIn!Check out Ron’s company, Diamond Wealth on LinkedIn!Connect with me:LinkedInLIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.