We recently attended the Family Office Real Estate Summit in New York as a sponsor of the event. As in the past, we reconnected with old acquaintances and were fortunate enough to make new ones.
There were numerous high value sessions presented to the attendees. I had the good fortune to sit in on a session entitled “$1 Billion+ Family Office Focus”. This session underscored why we attended this event and why we participate in many others. One of the panelists, Wendy Craft, eloquently made a point of conveying to the audience the fact, and I paraphrase, that you have to “show up and be there” as it relates to any organization wishing to work with Family Offices. Be it summits, conferences or more intimate gatherings, Family Offices need to know you (and know you well) before they will work with you. And they will never get to know you unless you participate in the functions and events that they do.
Late last year, I wrote an article about Trust as it relates to working with Family Offices. In that article I point out that it takes time to nurture a relationship to the point where a Family Office will work with you. The session I sat in on truly underscored this sentiment.
Attendees at Family Office events all have their own reasons for being there. Ours is simple. It is to provide Family Offices and Wealth Management organizations with information about how they can make their organizations more agile, more efficient with more financial insight and transparency, simply by adopting leading edge accounting software built for them. We are not there to sell, we are there to inform. Black River’s prime motivation in being there is to provide information to Family Offices that they may not have been aware of in the past. Our objective is to challenge the status quo – there is always a better alternative. Our purpose is to bring a fresh perspective to this eco-system. Helping people learn that there is indeed a better mousetrap. Some have chosen to partner with us while some are simply looking for further insight.
The Family Office and Wealth Management community is a very tight knit one. We both respect and recognize that fact. That is the reason why we attend.
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