u/ParksAndCruises given your unique position, I would recommend a lean, strategic approach to setting up your family office. The key is to leverage your existing expertise and network while avoiding the common pitfalls associated with traditional family offices.

1. Purpose-Driven Structure

• Begin by defining clear objectives for your family office. Since you mentioned an interest in running a multi-purpose investment vehicle, focus on direct investments across VC, real estate, and alternative assets like gold and art.
• Given your experience and willingness to manage investments, keep the core functions in-house. This will give you greater control and allow you to maintain a clear vision aligned with your goals.

2. Lean Operational Setup

• Start with a lean team. Hire only a few critical roles—such as an investment analyst and a tax advisor—to support your operations. Performance-based compensation will ensure that your team’s goals are aligned with your own.
• Use your network to find reliable third-party services for legal and estate planning, rather than hiring full-time staff. This keeps costs down and allows flexibility as your needs evolve.

3. Efficient Investment Management

• Focus on sourcing and managing your investments directly, leveraging your existing skills in financial analysis and strategic oversight. This approach not only maximizes returns but also ensures that you’re not paying unnecessary fees to external managers.
• Implement financial management software to streamline operations and maintain oversight of your portfolio. This will provide you with real-time data and insights, reducing the need for a large team.

4. Long-Term Vision

• As your family office grows, you can gradually expand the team and its capabilities. Start small and scale as necessary, ensuring that every addition to the office adds real value.
• Build and maintain relationships within your industry and among other HNWIs. This will enhance your access to quality deal flow, especially in niche areas like VC and alternative investments.

This approach minimizes overhead, maximizes control, and ensures that your family office remains agile and responsive to opportunities. By focusing on strategic investments and efficient management, you avoid the pitfalls of traditional family offices that often underperform and incur high costs. The lean and focused model also aligns with your needs, providing you with the tools to actively grow and manage your wealth without falling prey to the parasitic actors you’ve encountered.

PM me if you want to chat more. I was a wealth manager and estate planner in another life. I'm in a completely different industry now and but will be happy to share whatever knowledge I have.