In this episode of The UHNW Institute Podcast, host Joe Reilly is joined by Michael Zeuner, managing partner at WE Family Offices and co-founder and board member of The UHNW Institute. Michael traces his path from consulting roles at Andersen Consulting and Booz Allen through senior positions at Chase Manhattan, JP Morgan Private Bank and Gen Spring Family Offices, to co-founding WE Family Offices in 2013.
Michael and Joe unpack the industry’s move from a supply-side model built around manufacturing products to a demand-side model built around advice, including the early experiments that gave rise to open architecture. Michael also discusses what it takes to grow an advisory business while keeping the closeness that ultra-high-net-worth families expect from their advisors.
Topics discussed include:
- How a mentorship at Shawmut Bank, consulting realizations about product economics and open-architecture experiments at Chase Manhattan shaped his approach.
- Drawing on JetBlue’s demand-driven approach, surviving M&A culture clashes at Gen Spring and partnering with Pat Soldano and Santi Uyoha to build a flat-fee, non-discretionary model.
- Knowing exactly where size works (tech, reporting) versus where it hurts (the advisory relationship), plus the hurdle of keeping new talent through the critical first three years.
- The most frequent mistakes families make right after a major liquidity event.
- How AI search is reshaping the way boutique firms attract new clients.
Hosts & Guests
Joseph Reilly
Circulus Group
Michael Zeuner
Managing Partner
WE Family Offices