The most expensive mistakes after a liquidity event tend to happen in the first two years, before the family has a plan.
Mistakes we see often
- Investing the proceeds quickly because cash feels idle.
- Saying yes to friends' and relatives' deals without a screen.
- Hiring a chief investment officer before the strategy is clear.
- Running everything informally, with no written rules for spending or approvals.
- Keeping advisers in separate silos so no one sees the full picture.
A better first year
Take time to set goals, map assets and decide how decisions will be made. Then build the office. See the biggest mistakes centimillionaires make, Part 1 and the 50 kick-off questions.
Educational only. Nothing on this site is investment, tax, legal, accounting or other professional advice, or a recommendation on any security, manager, structure or allocation. Speak with qualified professionals before acting.