The 3 Big Family Office Transitions That No One Talks About | JD Montgomery Part 2

“To whom much is given, much is expected.” — JD MontgomeryJD Montgomery leads the Family Office division at Canterbury Consulting and is a seasoned advisor with nearly four decades of experience serving prominent families with a focus on strategy, organization and measurement. Based in Newport Beach, he serves a select group of multi-generational families and helps them navigate the complexities of wealth, purpose, and legacy. Mr. Montgomery partners with his clients to help them optimize the allocation of their resources across generations. Over the years, Mr. Montgomery has developed a deep network of relationships in the venture capital industry. He has helped his clients gain meaningful exposure to venture funds and direct investments and develop relationships with leading innovators and investors globally. He is a Managing Director, shareholder, and board member at Canterbury Consulting. He graduated from Stanford University and holds the Chartered Alternative Investment Analyst (CAIA) designation.You can find JD on his socials here:LinkedIn: https://www.linkedin.com/in/jd-montgomery-6161341b/OUTLINE:(00:00) Intro(02:00) The definition of family offices(03:01) Generation 1 vs 2(06:25) Building a family office at Gen 1(07:48) The 3 considerations for succession planning(11:14) The "why" of succession planning(12:59) Building self-esteem in children(17:14) How do you help children choose their long-term passions?(20:16) When should next gen of family offices know how rich they are?(23:35) How do next gen family office members first get exposure to VC?(32:25) When do you give next gens influence over the family's capital?(35:28) What % of the family capital should you give a next gen?(37:42) The ask(38:09) The hard and soft issues of wealth(42:41) How often do next gens inherit their parents' support system?(46:35) How does a GP know how sophisticated an FO is?(53:43) How does an advisor know an FO's sophistication?(59:10) Sophisticated simplicity(59:50) When's the last time JD's OS changed?(1:05:23) Post-credit scene: Time is a constructFollow David Zhou for more Superclusters content:For podcast show notes: https://cupofzhou.com/superclustersFor Superclusters After Hours: https://superclusterslp.substack.com/Follow David Zhou's blog: https://cupofzhou.comFollow Superclusters on X: https://x.com/SuperclustersLP