[djpr]

I worked with a start-up that focused on providing software for private family offices. These are for UHNW people who have more than 100 million USD. They do not want to brag that they go to the Bentley of banks. They want to keep it as private as possible.

Typically UHNW has a private family office, something between a concierge and philanthropy and a private investment organization, which maintain relationships with private banking services provided by Credit Suisse, UBS, etc. It can cost 1-2 million USD a year to run a private family office.

You never hear about family offices and in some areas you may only see a discreet sign at a posh building saying "private banking" and all of these folks want to keep it that way. The branding play here is being tight-lipped and discrete.

[zarathustraa]

I'm well aware.

The Bentley of banks is not for UHNW, just like mass luxury products are neither.

The Bentley of banks is for people like this:

https://twitter.com/FloydMayweather/status/11469115382272368...

[djpr]

So you're thinking somewhere between the Magnises card by Billy McFarland (Fyre Festival dude), Soho House, and upper-tier retail banking...that's all 100% instagramable?

I think you're on to something. I wouldn't be surprised if Soho House or other private clubs work with retail banks towards something like this.

One time, long ago, I had money once, and I was a member of HSBC Premier. It allowed to me to cut lines at the bank, have a small lounge area, and get free coffee. But that's about it. I don't think it would cost them too much to sign a deal with Soho House or WeWork or something like that, and offer tickets to see Beyonce at some private concert or something like that.

There could be market for something like that.

[elliekelly]

That’s basically what Amex Platinum offers. Last I heard they had created an entire team to focus on wooing the millennial crowd.

[csdreamer7]

What kinds of software did you provide to these private family offices?