Family Office Coaching with Lance Meikle

How long does it take to set up a Family Office?

July 30, 2020


  • Can I do this on my own?
  • What's involved?
  • How do you bill?
  • How long until I can make money?

In my case, it took 3 years:

  • from the idea of becoming a business that would service Family Office clients
  • identifying the client; and
  • getting paid.

I started with no idea as to which way to turn, where to go &/or, who to speak to

I started with a pilot client and STRONGLY RECOMMEND this approach as;

  • it allows you to make mistakes (based on a discounted rate to the client)
  • it enables you to be authentic
  • you will receive open and priceless feedback | critique which will enable you to not repeat mistakes and implement a better value proposition moving forward RATHER than ‘hitting the ground running’ and ‘learning on the job’ whilst treating your clients as Guinea pigs (it doesn’t have to be this way if you use a pilot)

Today, it takes me circa one hour to set up a new Family Office client.

This is not because I remember what to do, it is because I follow procedures in a Procedures Manual I built.

What are the components involved in setting up a Family Office?

  • Knowing what to ask and what to do, when. It is extremely costly learning this yourself and via my coaching, you don’t need to make the mistakes and simply enjoy the benefits
  • Templates, templates, templates – an awful lot of time and grief happens in creating your own templates, so don’t, just engage me and get them
  • Meeting with Patriarch or Matriarch
  • Establish legacy
  • Interview existing professionals
  • Implement and coordinate an aligned team of collaborative and accountable professionals
  • Implement governance in order of identified priority
  • Creation of a set of guiding documents, policies and rules dictating how the Family Office will operate:
    • Family Office members and entities
    • Appointment of management team and functions
    • Meeting venue, frequency and style (virtual &/or face-to-face)
    • Charter
    • Strategic Plan
    • Function (in house versus outsource)
    • Appointment of professionals


If you wish to make money and lift the image of your business, IT’S TIME FOR ACTION

Regardless of where you are located, my consultancy offer is the same:

  • There are only two bills
  • One at the end of 6 months
  • The second at the end of 12 months

If you don’t wish to pay either of these bills DON’T

I have configured the payment so that you use client’s monies to pay me (not yours)

  • I supply you a Terms of Engagement outlining the above
  • All I.P is included and delivered in Word format, so that you can manipulate it easy to suit your business
  • I participate in meetings (virtual &/or face-to-face) in whatever role you wish me to play and provide post meeting feedback | critique for the 12 month term.

As part of my coaching;

  • I provide a copy of our Procedures Manual
  • I show; and explain how and why to build one, and how to utilize it to make both revenue and profit.

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