Building a Family Office That Lasts: Wealth, Legacy & Leadership | The Family Biz Show Ep. 116

In this episode of The Family Biz Show, host Michael Palumbos sits down with Scott Saslow—entrepreneur, author, and founder of One World Investments. Together, they explore the overlooked complexities of what comes after the liquidity event. From defining a family office to uncovering its entrepreneurial DNA, this episode is a must-listen for legacy-minded leaders preparing for the next stage. Key Themes: What Is a Family Office, Really? Scott demystifies the term “family office” for founders and next-gen leaders. It’s not just an investment vehicle—it’s an infrastructure. And it often starts embedded within the family business itself. 📍 [02:00]: From family company to global sale—Scott’s personal story of transitioning into the family office world. Treating Wealth Like a Business Saslow challenges the assumption that post-exit wealth “manages itself.” In fact, a family office is a new company, with all the complexities of talent, mission, and operations. 📍 [10:00]: “Making money and keeping money are two different things.” Talent Management = Risk Management One of the biggest blind spots post-liquidity? Keeping the same advisors you trusted before the wealth explosion. Saslow emphasizes the need to rethink loyalty and performance. 📍 [13:45]: Apply “Good to Great” thinking to your wealth ecosystem. Mission as an Anchor A clear mission not only helps unify the family—it helps attract top-tier talent and service providers. Saslow argues that purpose is a powerful (and often neglected) wealth multiplier. 📍 [26:00]: Examples of impact investing from Saslow’s own venture fund. Preparing for Next Gen Involvement Whether or not your children will take the reins, your family office should be built to last—with or without them. 📍 [37:00]: “Hope for the best, plan for independence.” Tangible Takeaways: Don’t wait for liquidity to plan your structure. Reassess all advisor relationships post-exit. Build your family office with the same rigor as your business. Purpose can (and should) drive strategy. Start the conversation with your heirs—now.