Where to park $15mm?
Just wondering for a family friend where they should park $15mm. They are working with the type of financial advisor that is probably good for the $1-5mm range, general portfolio construction. But who is good at more customized plans across assets with real PMs? I know this is lower end but curious where you could go to have someone manage this and also advise on spending / growing the pot.
The correct answer is kind of annoying and boring but its correct for a reason. No way to know the best place to park 15mn without understanding the rest of the this person's assets, their current income + expenses, their age, risk tolerance, and goals. Someone who is 30 who inherited 15mn and in straight cash right now, is very different than someone who is 57 and has 50mn net worth, significant stock from a single company, wants to buy a new vacation home, and has 15mn on the side and is looking to park it somewhere.
A PM who can manage 1-5mn should have no problem managing 15mn.
My bank account?
There are a number of what you might describe as traditional financial planning led wealth managers that have developed internal investment capabilities specifically for this segment. It's much for advanced than the plain vanilla 60/40 portfolio + we'll update your financial plan annually. The trouble is that the vast majority of financial advisors are offering just that, so from a client perspective it's a case of picking whichever guy or gal you like the best.
Investment capabilities, particularly in the independent space, are a massive differentiator and at the same time have become table stakes for serving the HNW-UHNW relationships. A client with $15mm isn't getting direct access to MF PE and if you went to those firms with 250 separate $250k subscription agreements they would throw up. Some firms now have the ability to structure their own funds, made up of premier big name managers, getting their clients access in an amount that makes sense from a broader allocation perspective and is operationally suitable for the PE funds. If they aren't charging an extra level of fees, that is a pretty sweet proposition.
Point is, you don't necessarily have to decide between deep financial/estate/tax planning OR institutional level asset management.
Anyway, don't mean to make this sound like a commercial and don't want to hijack the thread. I've gotten to know this space well so PM me if any questions.
This is what multifamily offices are for
yolo some friday tesla calls
Terrible risk managemnet, only 14M for TSLA calls, 1M allocated to 40s and shortys.
Stay diversified.
Call up PIMCO
Im at a multi family office. Our minimum starts at ~$20mm but can be flexible depending on client complexity, needs and fit. Feel free to PM, im happy to give a lay of the land.
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