In 2006, we coined the phrase “celebrity family office.” In the book Fame & Fortune: Maximizing Celebrity Wealth (2008), we further documented the unique world of celebrities and how it intersects with wealth management and lifestyle services.
Since then, many private wealth industry professionals have embraced the concept of a celebrity family office to varying degrees. This trend continues and is accelerating at an ever-faster pace. However, the celebrity family office of today and tomorrow is meaningfully different from when we first described it and will continue to evolve as the private wealth industry, fintech and society evolve. For example, celebrities were once defined as entertainers, athletes and the professionals supporting them. We add social influencers and their infrastructure, which did not exist when we developed the first celebrity family office.
Russ Alan Prince is a strategist for family offices and many of the wealthiest families in the world. He helps them define and refine the desired outcomes they want. Russ also provides direction in selecting and structuring ultra-wealthy families’ relationships with private wealth industry professionals so they get superior results.