What Groucho Marx Got Right About Family Office Networks
In this short video, TFOA founder Marc Sharpe draws on a Groucho Marx quip to explain what really makes a family office network valuable.
It’s a companion to TFOA’s whitepaper on family office networks.
Transcript
Groucho Marx was right about family office networks.
His line. I refuse to join any club that would have me as a member. Self-deprecating humor. Also a powerful filter. There are thousands of family office networks now. Conferences. Peer groups. Investment clubs. Some are valuable. Many are not.
The ones that pursue you most aggressively are usually the ones with the worst alignment. Why? Because they need members to justify their business model. The for-profit networks need attendees for their sponsors. The deal platforms need families to fill their pipeline. Their incentive isn’t your education or your community. It’s your presence.
Treat every family office network like a private equity investment. Diligence the business model first. Ask: how does this organization make money? Who pays whom? If the answer makes your alignment uncomfortable, Groucho’s rule applies. Refuse membership.
