WEBVTT 00:00.231 --> 00:09.995 [SPEAKER_00]: for over 1,400 years, the wealthiest families in the world have used a secret system to preserve and grow their wealth across generations. 00:10.515 --> 00:19.619 [SPEAKER_00]: It started in the sixth century with major domos managing royal estates, and this evolved through the Rockefellers in 1882, and today there are over 00:25.842 --> 00:27.924 [SPEAKER_00]: then the entire hedge fund industry. 00:28.225 --> 00:29.707 [SPEAKER_00]: But here's what nobody talks about. 00:30.127 --> 00:40.940 [SPEAKER_00]: If you have between $1 million and $30 million in that worth, you're in a financial services desert where this proven system hasn't been available to you. 00:41.340 --> 00:58.324 [SPEAKER_00]: I'm Christopher Nelson, and over the past 12 years, I've studied how the ultra-wealthy managed their wealth, and I took my learnings into building my own micro family office that generates over $200,000 of annual investment income without selling any assets. 00:58.724 --> 01:16.052 [SPEAKER_00]: In this video, you're going to discover what a microfamily office is and why the $124 trillion wealth transfer happening over the next 20 years makes this critical for you and exactly how you can implement this system yourself. 01:16.352 --> 01:25.019 [SPEAKER_00]: By the end, you'll understand why more professionals are ditching traditional financial advisors and building their own wealth management businesses. 01:25.339 --> 01:30.343 [SPEAKER_00]: Let's talk about why this moment in history is so critical for wealth management. 01:30.684 --> 01:35.968 [SPEAKER_00]: Right now, we're in the middle of the largest wealth transfer in human history. 01:36.408 --> 01:40.051 [SPEAKER_00]: Over the next two decades, more than $124 trillion will change hands globally. 01:43.854 --> 01:48.916 [SPEAKER_00]: At the same time, we're seeing millionaires created at an unprecedented rate. 01:49.076 --> 01:55.438 [SPEAKER_00]: The US added over 500,000 new millionaires just last year, a 7% increase. 01:55.938 --> 02:02.440 [SPEAKER_00]: By 2028, there will be 25.4 million millionaires in the United States alone. 02:02.821 --> 02:08.242 [SPEAKER_00]: Much of this new wealth is coming from tech equity, with publicly traded companies paying out over 02:12.764 --> 02:21.869 [SPEAKER_00]: So you have millions of people, suddenly crossing the one million dollar threshold, people who are brilliant at building systems and solving complex problems. 02:22.189 --> 02:35.456 [SPEAKER_00]: But they're managing their wealth like complete amateurs, scattered spreadsheets, reactive decisions, generic advice from financial advisors who treat them the same as somebody with $100,000 net worth. 02:35.816 --> 02:38.878 [SPEAKER_00]: This is the financial services desert I'm talking about. 02:39.158 --> 02:46.067 [SPEAKER_00]: To understand why microfamily offices are the solution, you need to understand where family offices come from. 02:46.408 --> 02:47.469 [SPEAKER_00]: The concept isn't new. 02:48.030 --> 02:56.001 [SPEAKER_00]: Back in the 6th century, European Nebility used major domos, trusted stewards who managed land, wealth, and household operations. 02:56.501 --> 03:02.547 [SPEAKER_00]: During the medieval period, this evolved into formal trust structures to preserve generational wealth. 03:02.787 --> 03:06.370 [SPEAKER_00]: The modern family office was born during the industrial revolution. 03:07.251 --> 03:11.454 [SPEAKER_00]: In 1838, the Morgan family created the house of Morgan. 03:12.155 --> 03:25.763 [SPEAKER_00]: Then in 1882, John D. Rockefeller established what's considered the first true single-family office, a full-service structure with investment oversight, philanthropy, and succession planning. 03:26.023 --> 03:27.944 [SPEAKER_00]: These weren't just accounts keeping books. 03:28.245 --> 03:33.608 [SPEAKER_00]: They were strategic wealth engines built to preserve and grow fortunes across 03:34.328 --> 03:35.510 [SPEAKER_00]: multiple generations. 03:35.950 --> 03:41.336 [SPEAKER_00]: By the 1980s, single family offices became common among ultra wealthy families. 03:41.717 --> 03:47.624 [SPEAKER_00]: But they required at least $100 million in assets to justify the cost. 03:47.964 --> 03:50.087 [SPEAKER_00]: Then came three major inflection points. 03:50.387 --> 03:53.809 [SPEAKER_00]: Number one, the dot com boom created a wave of new wealth. 03:54.309 --> 03:59.793 [SPEAKER_00]: Number two, the 2008 financial crisis made families want more control and privacy. 04:00.313 --> 04:05.276 [SPEAKER_00]: And number three, technology enabled leaner structures with global reach. 04:05.736 --> 04:21.948 [SPEAKER_00]: Today, 68% of all family offices were established after 2000, and 50% have been created since 2008, family offices now collectively manage 10 trillion dollars surpassing all hedge funds combined. 04:22.249 --> 04:25.251 [SPEAKER_00]: But if you don't have a hundred million, you've been locked out of the system. 04:25.511 --> 04:28.113 [SPEAKER_00]: There are three types of wealth management structures. 04:28.814 --> 04:32.376 [SPEAKER_00]: At the top, you have the single family offices for families with 04:34.478 --> 04:43.643 [SPEAKER_00]: They have full-time staff, comprehensive strategies, and cost about one to two million dollars per year, roughly one to two percent of assets under management. 04:44.004 --> 04:49.267 [SPEAKER_00]: In the middle, there are multi-family offices for families with 30 million to one hundred million. 04:49.767 --> 04:57.511 [SPEAKER_00]: They share resources across multiple families and cost around $300,000 to $1 million per year to operate. 04:57.771 --> 05:02.213 [SPEAKER_00]: And at the bottom, you have generic personal financial advice. 05:02.713 --> 05:05.095 [SPEAKER_00]: This is for people under $1 million net worth. 05:05.335 --> 05:08.936 [SPEAKER_00]: We're talking basic budgeting, a $6040 portfolio. 05:09.337 --> 05:15.980 [SPEAKER_00]: And a financial advisor who will treat you the same as the $362 other clients that they're managing. 05:16.220 --> 05:20.023 [SPEAKER_00]: But what if you're between $1 million and $30 million that worth? 05:20.303 --> 05:26.667 [SPEAKER_00]: You're too sophisticated for personal financial advice, but you don't have the scale for a traditional family office. 05:27.008 --> 05:34.153 [SPEAKER_00]: This is what I call the financial services desert, and this is exactly who the microfamily office was designed for. 05:34.613 --> 05:39.577 [SPEAKER_00]: A microfamily office brings you the strategic depth of a traditional family office. 05:40.297 --> 05:57.243 [SPEAKER_00]: comprehensive investment strategy, advanced tax planning, asset protection, succession planning, but with the efficiency of a streamlined system and fractional services model, a microfamily office operates like a lean purpose-built financial business. 05:57.644 --> 06:04.606 [SPEAKER_00]: It's designed to give you the control and customization of a single family office without the cost or complexity. 06:04.886 --> 06:06.607 [SPEAKER_00]: Here's how it works in practice. 06:07.027 --> 06:10.990 [SPEAKER_00]: First, you follow the Welfop framework, which has four phases. 06:11.711 --> 06:14.733 [SPEAKER_00]: Architect, build, run, and succession. 06:15.193 --> 06:18.636 [SPEAKER_00]: In the architect phase, you define your wealth philosophy and vision. 06:19.096 --> 06:25.061 [SPEAKER_00]: You create a legacy statement and develop your investment thesis in design your organizational structure. 06:25.761 --> 06:30.825 [SPEAKER_00]: This is where you clarify what success actually means beyond just returns. 06:31.265 --> 06:34.388 [SPEAKER_00]: This is what we cover in our monthly free live workshop. 06:34.948 --> 06:36.589 [SPEAKER_00]: I'll share more on that at the end. 06:37.089 --> 06:41.712 [SPEAKER_00]: In the build phase, you structure your legal, financial, and operational systems. 06:42.112 --> 06:49.275 [SPEAKER_00]: You set up entities like LLCs and trusts, formalize your accounting and reporting structures, and choose your tech stack. 06:49.576 --> 06:55.959 [SPEAKER_00]: You also onboard your fractional advisors, certify tax planners, attorneys, and a bookkeeper. 06:56.359 --> 06:58.840 [SPEAKER_00]: In the run phase, you operate with discipline. 06:59.180 --> 07:01.702 [SPEAKER_00]: You maintain regular portfolio reviews, 07:02.282 --> 07:14.691 [SPEAKER_00]: oversee your external team using clear roles in KPI's and you stay focused on high leverage decisions like asset allocation and tax optimization and legacy planning. 07:15.072 --> 07:18.995 [SPEAKER_00]: In the succession phase, you prepare for legacy and continuity. 07:19.115 --> 07:26.781 [SPEAKER_00]: This is where you establish family governance, create education systems for the next generation and finalize the state planning. 07:27.541 --> 07:37.246 [SPEAKER_00]: you develop leadership transition strategies, your job is to ensure your wealth management systems outlast you and empowers future generations. 07:37.686 --> 07:46.510 [SPEAKER_00]: A microfamily office typically costs between $15,000 and $100,000 per year to operate depending on complexity and size. 07:46.811 --> 07:49.672 [SPEAKER_00]: Last year, mine costs around $25,000 for operate. 07:50.032 --> 07:53.294 [SPEAKER_00]: So who should consider building a microfamily office? 07:53.854 --> 08:04.045 [SPEAKER_00]: This is for you if you've recently had a large liquidity event such as selling a business, exercising stock options, or receiving an inheritance. 08:04.977 --> 08:15.740 [SPEAKER_00]: Or it could be that you just built a large portfolio of assets over time and you're ready to go beyond DIY investing and you want strategic streamlined execution. 08:16.200 --> 08:23.462 [SPEAKER_00]: It's for people who view their portfolio as an engine for financial freedom and legacy, not just a passive nest egg. 08:23.802 --> 08:28.083 [SPEAKER_00]: people who want to be the CEO of their wealth and not hand it off to someone else. 08:28.563 --> 08:38.646 [SPEAKER_00]: If you have outgrown mass market financial advice and want professional grade systems tailored to your assets, mindset and goals, this is for you. 08:39.207 --> 08:41.047 [SPEAKER_00]: Here's exactly what I want you to understand. 08:41.207 --> 08:47.069 [SPEAKER_00]: The wealthy have been using this system for over a thousand years to preserve and grow their fortunes. 08:48.079 --> 08:51.660 [SPEAKER_00]: The only difference is scale in technology. 08:52.160 --> 08:56.361 [SPEAKER_00]: You don't need $100 million to think like a family office. 08:57.162 --> 09:01.443 [SPEAKER_00]: You just need the right systems, the right team, and the right framework. 09:01.863 --> 09:04.624 [SPEAKER_00]: The micro family office isn't about downsizing. 09:05.124 --> 09:06.765 [SPEAKER_00]: It's about right sizing. 09:07.225 --> 09:14.207 [SPEAKER_00]: It's about taking institutional grade wealth management and making it accessible to people who are building real wealth. 09:14.995 --> 09:15.535 [SPEAKER_00]: right now. 09:16.136 --> 09:23.621 [SPEAKER_00]: If you're tired of scattered spreadsheets in generic financial advice, it might be time to build your own microfamily office. 09:24.561 --> 09:30.105 [SPEAKER_00]: Join our free monthly live workshop where we'll walk you through the complete architect phase. 09:30.825 --> 09:37.650 [SPEAKER_00]: You'll leave with your own legacy statement, investment thesis, and well structure designed. 09:38.090 --> 09:42.873 [SPEAKER_00]: Head to wealthops.io forward slash go or click the link 09:44.434 --> 09:51.110 [SPEAKER_00]: Or if you just want to learn more about microfamily offices and how they operate, you should check out this video.