Rethinking the Family Office: Lessons from the Front Lines
Wingspan Founder Christina Wing recently joined David Weisburd on his podcast How I Invest for a candid conversation about what it really takes to build and run a family office effectively.
Christina’s view: “Family offices ARE a business—but 9 out of 10 families don’t structure them that way.”
Drawing from her experience working with enterprising families from around the world, Christina explains how the term “family office” often misleads people into thinking of it as something other than a business. The result? A lack of clear mission, no formal business plan, hiring based on relationships instead of skills, and blurred lines between investing, philanthropy, and concierge services.
In this episode, Christina and David discuss:
- Laying the right foundation: Why the most successful family offices are built from the top down—starting with a clear mission, governance, and team—rather than assembled piecemeal over time.
- Getting the structure right: How separating investment, philanthropic, and family functions leads to better results, and why clarity of mandate is essential.
- Avoiding common pitfalls: The biggest mistakes families make when building a family office, from hiring based on relationships to treating it as a catchall for unemployable relatives.
- Talent as the real constraint: Why attracting and retaining top investment professionals is critical, and how pay and incentives should mirror professional firms.
- Shifting the mindset: Understanding the difference between cost centers and revenue drivers, and aligning mission, capital deployment, and family legacy accordingly.
- Closing the generational gap: Overcoming the psychological and communication barriers between the generations, and encouraging the Rising Gen to take ownership.
Christina also challenges the stereotype of the “spoiled” Rising Gen, making the case for early education, open dialogue about wealth and responsibility, and the value of learning from failure. She shares examples of families that have implemented disciplined governance, aligned pay with results, and created clear mandates for investment and philanthropic arms—structures she believes can position family offices to eventually outperform other asset classes.
Whether you’re starting, running, or inheriting a family office, this conversation offers practical guidance for structuring it with the clarity, discipline, and governance it needs to thrive.
—–
📺 Watch the full episode on YouTube: How I Invest with David Weisburd – Christina Wing
🎧 Listen on your favorite podcast platform: Apple Podcasts | Spotify
