Chicago Wealth Manager Investor Mandate Interview
HNW Wealth Management Firm Investor Mandate Interview (Chicago)
Families with operating businesses or direct investments, and managers who want to understand how a Chicago wealth firm approaches client mandates.
5 key takeaways
- Mandates come from the family. John says the mandate varies by family. The firm is not tied to one asset class and does not manage a single item on behalf of clients.
- Diversify away from your core. A family in real estate and development already sees deal flow in that area. John says such a family often wants diversification away from real estate. A FinTech family faces the same issue with concentrated positions.
- Look at the total balance sheet. The firm reviews allocation across the whole balance sheet. That includes public markets, direct investments and the liability side.
- Go slow to go deep. John credits referrals and time spent thinking things through. The firm prefers fewer and deeper relationships, both with clients and with managers.
- Never fall in love with a deal. John says this applies on the buy side and the sell side. Deals involve a lot of horse trading near the finish line, so he stays willing to walk away and keeps his discipline.
Summary
John runs a wealth management firm on the northwest side of Chicago. It has clients across 30 states and in Western Europe. He describes the firm as a broad-based advisor that acts as chief financial officer for the families it serves. It works the liability side, builds diversification across public markets, and manages risk on the direct investments those families hold.
The mandate comes from each family. A real estate developer may want diversification away from property, while a FinTech family may want to manage concentrated positions and look at real estate. John says the firm looks at the total balance sheet. He credits referrals and slow, deep relationships for its growth. His main lesson is to never fall in love with a deal.
Key facts
- John's firm has clients across 30 states in the US as well as in Western Europe.
- The firm is located on the northwest side of Chicago and acts as chief financial officer for the families it serves.
- John says the firm grows on referrals and prefers fewer and deeper relationships with both clients and managers.
Sources
From Richard C. Wilson's Centimillionaire Strategies YouTube channel: HNW Wealth Management Firm Investor Mandate Interview (Chicago). Quotes come from the video captions, lightly edited for readability. Figures are the speakers' own estimates and experience.
General education only. Not legal, tax or investment advice.
Quotes from the session
"We really operate with a service model mindset of working with the families as the chief financial officer for the families that we serve."
"We'd rather have fewer and deeper relationships. That's true with clients and that's true also with managers, than just spreading a bunch of things around and hoping some stick."
"It's kind of like the ocean. There'll be another wave coming, so don't worry about panicking to jump on the wave that's in front of you."
Related questions
- How do I close a funding round?I close a funding round by focusing on investors who fit the opportunity and moving each interested prospect through clear, consistent follow-up.
- What documents do investors request during due diligence?Prepare a clear, organized package covering your operations, investments, compensation, team, and track record.
- How do I raise capital for my business?I raise capital by building a repeatable system for attracting the right investors, establishing credibility, and developing relationships before asking for money.
Questions about this video
Where are John's clients located?
John says the firm is on the northwest side of Chicago. It has clients across 30 states in the US and in Western Europe.
How does the firm handle families that make direct investments?
The approach varies by family. A real estate family may look for diversification away from real estate, and a FinTech family may look at managing concentrated positions and exploring real estate.
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