A boutique multi-family office built for a closed roster of 41 households with $25M to $1.4B in investable assets. We coordinate the custodian, the trust, the philanthropy, the next-generation education, and the second home in Aspen. One letter, one team, four generations.
Quarter-over-quarter deltas, audited by Deloitte and reconciled monthly with each family's external CPAs. Footnotes apply.
Managing Partner · CFA
The first Wittgenstein-published copy of an annual letter we ever drafted, in 1993, ran fourteen pages and reported on three families. It opened with a sentence we still believe: "A balance sheet is the consequence of a life — never the other way around."
Thirty-four years on, we steward 41 multi-generational households representing four generations and a combined balance of $4.2 billion. The work itself has changed less than you might think. We still meet quarterly in person with each family. We still write a letter once a year. We still believe the most important conversations happen at the kitchen table — usually before, not after, the lawyers arrive.
This year's letter focuses on a question several of you have raised: how does a family office, built around the founding generation's needs, evolve as the third and fourth generations come of age? You'll find our framework on page 14, drawn from the eighteen multi-generation transitions we've completed since 2008.
As always — the door, and the letter, remain short.
The typical family-office engagement runs longer than most marriages. We've structured ours around the cadence of generations — not quarters.
Constitution, trust architecture, custodian transition, philanthropic vehicle structuring. The infrastructure that everything else relies on.
Quarterly portfolio review, annual strategy refresh, multi-year tax modeling, and the first generational-transition conversations begin.
The rising generation enters the curriculum. Trustee successor decisions are made. The first major estate event is planned and executed.
The third and fourth generations now lead. The family office becomes the institutional memory that makes the family possible.
Across 41 client families, $84M was granted in 2025 to 387 organizations. Below is the aggregate giving distribution. Individual families' giving is held in confidence.
A 60-minute discovery call with a Managing Partner, on a date your assistant chooses. No pitch. No deck. We'll listen, ask the questions our 34-year practice has taught us to ask, and tell you honestly whether we're the right fit.
We accept new family relationships at $25M+ in liquid investable assets. Below that figure, we are happy to refer to peers we trust — there is no shortage of excellent advisors at smaller minimums.