Why a Family Office is More than Just the Investments with Thomas Kim

Investments come second in family offices. Today’s guest, Thomas Kim, talks about why in this episode. Tom is the President and CIO of The Agnew Company, where he's responsible for the overall leadership of the company and its broadly diversified investment portfolio. Tom holds a B.S. in Chemical Engineering from Cornell University and a Ph.D. from The University of Chicago.In this episode, Tom talks about why a family office is more than just the investments. He dives deeper into the element of purposefulness in a family office and why this component is often missed. Tom also talks about cultures in a family office and why it’s important to know whether something is a passion project or not. Listen in![00:01 – 07:05] Opening SegmentWelcoming Tom to the showTom shares his backgroundGetting into alternative investmentsHis background in commercial real estateEarning his Ph.D[07:06 – 20:17] Why Investment Comes Second in a Family OfficeTom’s definition of a family officeWorking in a family office vs. working in Wall StreetWhere family offices are in the current financial ecosystemThe element of purposefulness in a family office[20:18 – 35:54] A Closer Look at Cultures in a Family OfficeTom talks about cultures in a family officeCultural differences in various family office developmental stagesFact patterns Tom has seen in sustainable familiesWhy it’s important to be clear about whether something is a passion project or not[35:55 – 42:29] Closing SegmentThe evolution of real estate in terms of family officesClosing wordsTweetable Quotes“That purposefulness of the family office – once you say, ‘I want an office, I want to somewhat more responsibly structure how my capital and my wealth is being managed and do it not just for me, but for my partner, my wife, my children, their children, their children's children.’ – it's a more social and more symbolic gesture to what it means to be part of that family and your responsibility to society at large. I think that element is sometimes missed.” - Thomas Kim “Whatever you do, no matter how big or small you are, one of the due diligence questions should be is, ‘Is this a passion project or not?’” - Thomas Kim------------------------------------------------------------------------------------------Connect with Tom: TheAgnewCompany.comConnect 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.