Learning the ropes on the slopes

February 22, 2017
 
Most athletes do not go on to become professionals or Olympians. However, most do take away skills that can be applied to other aspects of their lives, whether professional or personal. Chris Trokey, a ski instructor turned wealth manager, is no exception. While he doesn’t need his poles or skis in his role as managing director of GenSpring Family Office’s Eastern Region, he does apply what he learned as a ski instructor.

“So much of what I do draws from the skills I learned teaching skiing,” says Trokey. “In both skiing and wealth management, you’re working with people who are often facing their fears, and all of whom communicate slightly differently, and it’s your responsibility to figure out how to navigate that successfully.”

Trokey elaborated on the types of concerns he helps his clients address: “I serve ultra-high net worth families, who can often be overwhelmed by the daunting challenge of managing all of their complex financial matters. My job goes beyond managing their money and extends into things like education as well, with the ultimate goal of helping them achieve peace of mind.  We simplify their lives so that when my team has done its job, the clients are able to focus on what’s most important to them.” Trokey says the rewards in wealth management and ski instruction are often similar too: “When you show the client what you’ve done for them and what they can do to ensure they preserve their wealth, it’s the same kind of instant feedback I got when someone I was teaching to ski was able to finally make it down that hill standing up; I love that ‘aha’ moment, where the client realizes: ‘I can do it.’”

Christopher Trokey is the managing director of client services for GenSpring Family Office’s Eastern Region. He previously served as vice president of Tower Hill LLC, and has also served in the Private Wealth Management division of Goldman Sachs. Chris holds a Bachelor of Science in accounting from Indiana University, an MBA in finance from Washington University in St. Louis, and also holds the designations of Chartered Financial Analyst and Chartered Alternative Investment Analyst.

Understanding Wealth Management

November 30, 2016
 
We are often asked about the tiering of the wealth management industry.  When does a family outgrow the services of retail wealth management and find itself in a position to consider the services of a multi-family office?  When does a family outgrow a multi-family office and consider building its own single-family office?  Here’s our quick guide:
Multi-Family Office
Asset Range: $25M to $100M
Benefits: Personal wealth management services, tax advisement, education, governance, philanthropic advisement, and fiduciary responsibility.
Examples: GenSpring Family Offices, Abbot Downing, Bessemer Trust, Hawthorn, Silvercrest

Single Family Office
Asset Range:
$100M+
Benefits:  The singular focus of one family is the primary benefit of the operation. The services provided include property management, accounting, payroll, and management of legal affairs, family governance, financial and investment education, philanthropy coordination, succession planning management of household staff, and making travel arrangements.
Industry Outlook: Over 4,000 different SFOs in the United States and growing.