Episode Transcript
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You know what it is? That'sright. It's time to talk money with
your money nerd and financialcoach. Now tighten those purse strings
and open those ears. It's theMoney Talk with Tiff podcast.
Hey, everyone, I am so excitedbecause I have Mark Miller on the
line. Now, Mark is here totalk to us about a concept that we've
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never talked about on thepodcast before, and that is a family
office. He actually runs theHilton. Yes, you heard that right.
Hilton family office. And so Isaid, what perfect person to come
talk to us about this. So,hey, Mark, how are you?
I'm doing great. How are you today?
I'm doing fantastic. So I amso glad that we're talking about
this because like I said, I'venever covered it on the podcast before
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and I feel like most of mylisteners have never heard of it
themselves. So let's just hopright in. First and foremost, what
is a family office and what dothey do?
Well, let me give you a littleof the history of the family office.
Actually, it was theRockefellers that started the first
family office. And what, whathappened was, I believe it was like
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in 1890 or something likethat, when the industrial revolution
was really kicking in. GildedAge, all of that. And they were having
serious problems with alltheir advisors. They were all, they
all hated each other. Theywere getting bad advice. They were
getting one thing from oneadvisor, another thing from another
advisor. And you think aboutit, even if you don't have the money,
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the Rockefellers, you've gotdifferent advisors that are telling,
you got your insurance person,you've got your, you've got your
financial planner, you mayhave an attorney doing estate planning
for you. All that, and none ofthose people are talking. Well, think
of that on a much, much higherlevel of a family that's got hundreds
of millions of dollars. Andthey came up with the concept of,
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hey, why don't we hire our ownfolks, put them together and we can
save some money because wedon't have to outsource every single
one of these people. Plus theycan talk to each other and all of
that a matter of five yearsbecause of the family office concept
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that they're all kind oftogether, synergistically working
together. The Rockefellersincreased their wealth like threefold.
And it could be a directlyattributed back to that. So then
a lot of other wealthyfamilies caught on, caught on to
it. And ultimately they've,they realized that there, there was
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just, this was the way to doit, to build their way wealth more
efficiently and better. SoFast forward to 2025. There's been
a lot of reiterations of thefamily office. There was individual
family offices, which is whatit sounds like that it's just for
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an individual family. Then itbecame the multi families, where
wealthy people could come inagain, cut their cost on getting
all this advice. But thebiggest aspect of it is kind of just
everyone workingsynergistically together for that
group of families. Families.And now it has morphed into what
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they call kind of a virtualfamily office where it will still
be multi families together,but they're outsourcing a lot of
things kind of to the bestpeople in the world to do things.
And that's what the Hiltonfamily office is where for the not
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only some Hilton familymembers, but also various other families
that are involved, we, Imanage that office. And the biggest
benefit to it is everyone isgetting together and just able to
have this synergisticrelationship and get the best of
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the best advice on everyaspect of their finances. So that
kind of in general is thefamily office concept and the modern
family offices, most of themare more virtual family offices where
they're getting the best, thebest advice from around the world.
Let me just back up and makesure I have this correctly. So the
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family office came intoexistence to put everybody together.
Now when you say everybody,are you talking like advisors, accountants,
tax professionals, justeverybody, Lawyers, everything that
they need?
Yes, and then some dependingon how. Like our family office, we
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have enough families in therethat we need a lot of different advisors,
20 to 25 different advisors indifferent areas. So, you know, that's,
that's the Hilton familyoffice. I'm also the CEO of a spin
off company that Brad Hilton,who is the grandson of Conrad Hilton
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and I started where we'rebringing this same, this family office
concept more down to Mainstreet. So you don't have to have
our minimum folks maybe have10 million, 20 million in the family
office. If you don't have thatkind of money, then Hilton tax and
wealth advisors, we'reutilizing a lot of those concepts
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and the main concept is thatsynergistic, you know, consulting
across the board. Soeverybody's talking to everyone.
For folks that maybe have250,000 or 500,000 or you know, a
little bit more than that.
Yes, I love that. And we'vetalked on the podcast about having
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a team. Right. But we nevertalked about having the team all
under one roof. Which I, I'mthinking is like, it makes complete
sense and it cuts out a lot ofthe back and Forth. And, you know,
but what about this? Because alot of people don't realize when
you do something, let's saywith your investments, it may affect
something that your taxprofessional might see or your lawyer
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might see. You know, is. Isdifferent people serve different
roles. And they're usually notlooking at the whole picture. They're
just looking at their role. Sohaving all of these people under
one roof and constantlytalking to each other, I can see
how that can build wealthpretty quickly and sustain wealth.
So with that being said, howare you all bringing it to more Main
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Street? Because I know thepeople listening, they're probably.
Now, we talked about thisbefore. I hit record. I don't know
who's listening, but I assumethe Hiltons are not listening. So
if some of them might very.
Well be, it could.
But for people that are like,okay, well, I don't have Hilton money,
how can I still take advantageof this concept? How do you all take
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that and bring it to peoplethat aren't at that level yet?
So one of the things that. Andbasically when people come on board
with us at Hilton Tax andWealth Advisors, one of the things
that the Hiltons are reallygreat at and what the wealthiest
of the wealthiest are great atis reducing taxes. I mean, that's
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really how, you know, thesmart money folks compound and leverage
their wealth is by minimizingtheir taxes considerably if not making
and not zeroing out theirtaxes. So we bring those strategies,
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again, some of those advancedtax strategies, down to Main street
on the tax side, which is justa big aspect of it. But then also
some of these, the wealthiestof the wealthy investment strategies
down to Main street through.And we've designed with Hilton Tax
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and wealth advisors what wecall the Hilton true wealth portfolios,
which are a smaller version ofthe big portfolios that again, the
smart money uses. We use kindof a bucket concept that we put money
in different buckets, make itsimple, bring it more down to a little
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more down to earth, and not soconfusing for the average investor.
But, you know, our average,you know, our minimums are 250,000
and above that. We could builda true wealth portfolio. And you'd
have the same exact portfoliothat somebody that has 20 or 30 or
50 or even 100 million. And sofar it has been phenomenal. It's
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been a big passion of BradHilton to do this and bring these
strategies again to the, theaverage investor so they can get
wealthier faster.
I love that. I love that. Andso the difference with you all, so
let's say Somebody's listeningand they're like, well, I already
have an advisor, so why wouldI choose you all over my current
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advisor? Because they alreadyhave their own tax people that they
might talk to and so on and soforth. So why would I go to the virtual
family office option?
Yeah. And okay, that is agreat question. And it's the reason
why Brad Hilton and I havedone this is because, number one,
you need to understand, andretail investors need to understand
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how incredibly inefficient itis to have their different advisors
in different places. Andhere's primarily the reason why these
people all hate each other,okay? And you don't know that. And
that's from an insider in thebusiness. So you know, no one's going
to tell you, I don't want totalk to your attorney, I don't want
to talk to your other advisor,your financial advisor, I don't want
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to talk to your tax person andall that. But they don't like to
talk to each other, okay? Soin our model, they have to talk to
each other and they all worktogether because they're on the same,
they're truly on the sameteam. The concept and people saying,
like on the retail side oryour broker saying, let's get your
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team together, all of that,that rarely happens. And I think
most people listening to thiscan realize that it doesn't that
you talk, you become inessence, your own quarterback on
the football team. Whereaswith Hilton tax and wealth advisors,
you don't have to be thequarterback. We're the quarterback.
We get the team. You're theowner. In a sense, just like in a
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family office, we get to teamtogether. And again, everybody's
working towards the commongoal to get you wealthier faster.
Okay? So that's the biggestthing. The other thing too is simply
for the fact that the smartmoney invests, invests significantly
different than retail. Like ifyou go to Fidelity or a Vanguard
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and everything, one of thebiggest things that they do is the,
the wealthy is first andforemost, they focus on safety and
security. Because in the smartmoney space, the returns are just
going to be there. And when wegive client access to things, there's
private equity, alternativeinvestments, the best money managers
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in the world, those returnsare just going to be there. So then
we can focus like the wealthy.If the wealthy do focus on safety
first and we're going to getbetter returns, there's going to
be less volatility, less fees,all of that. The returns are just
going to be there. Sosignificant difference between how
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the smart Money invests andhow the regular retail investor invests
with, you know, some of thosebig companies, the everyday companies
that you've heard about.
Yes, I love that. And it's sotrue. That first part you said where
you were saying that theyreally don't want to talk to each
other because I used to workat a firm for high net worth individuals
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and it was like pulling teethto try to get in contact with the
attorney if we needed to, orif we had to get in contact with
their cpa, whatever the casemay be. It was like pulling teeth
if it wasn't someone we werealready working with on something
else. So I definitely agreewith that.
Yeah. Hilton Tax and Wealthadvisors and the Hilton family office,
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guess what? Those advisorshave no choice. Okay. Because our
concept is everybody's got totalk together and have team meetings
and we're working. And again,I think the analogy, I love using
that analogy of as a retailinvestor, you are the quarterback
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on a kind of a complexfootball team. I mean, think of yourself
out there trying to get on thefield with a Patrick Mahomes or something
and the complexity,complexities of having to do that
properly. Well, you know,money is pretty complex and putting
portfolios together and all ofthat, doing it well and. Right. Can
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be very complex. Well, wouldyou rather be the owner and hire
the people that are going tobe our experts, Hire the Patrick
Mahomes and then. Or hire thecoach in this case Andy Reed to then
put the whole team togetherand put the highest caliber of team
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together working for you inyour financial situation? Or would
you like to be put out on thefield and know kind of semi a little
bit about, I mean, could youimagine Patrick Mahomes? They throw
him out on the field. If hejust knew a little bit, he wouldn't,
he wouldn't be able to run theteam. Right. So that, that in. And
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again, that goes back to ourpassion, Brad Hilton and I's passion
that we know, we knew thatthis was going to be successful because
so few people on the retailside have the ability to really put
an incredible synergisticportfolio together and really marry
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their entire financialsituation to help them build their,
their wealth faster.
Yes. Yes. I love it. So thishas been very eye opening, not only
for my audience, I'm sure, butfor me as well. Because like I said,
I've worked at a firm, butI've never worked in a family office.
So it's, it's, it's veryinteresting and I completely see
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how that concept could helppeople build more wealth and sustain
more wealth. So thank you somuch for sharing that. Now, if people
were interested in learningmore about you, your company, or
anything else about familyoffices, where could they find you?
Mark?
Well, I suggest that they goto hiltonwealth.com that's hiltonwealth
real simple.com and you canorder my book complimentary Order
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my book Hilton wealth and howto Invest like an American Dynasty.
And you can learn about ourfirm, learn how you can invest just
like the the wealthiest of thewealthiest in the world invest and
assure that you're going toget to your goals and not be hey,
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am I going to have enoughmoney? Am I going to make it? Am
I going to get get to where Ineed to be in retirement or whatever?
The Hilton wealth book willgive you a really good background.
It's a short book, by the way.I tell everybody that because no
one wants to read a booknowadays. It's not four or five hundred
pages with all thesetechniques and tactics and all that.
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It just gives you, it's 100pages long. Just gives you a general
idea of the differences thatwe've talked about today, how the
wealthiest of the wealthyinvest as opposed to retail investors.
Gotcha. Gotcha. And if you alldidn't catch that, maybe you're listening
doing something else. I makesure I have all those links in the
show notes for you and you cancheck Mark out and maybe become a
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client. So thank you so much,Mark, for coming on the show today.
Well, thank you. I appreciateyour time today.
All right, bye.
Thank you for listening,joining and being a part of the Money
Talk with Tiff podcast thisweek. You can check Tiff out every
Thursday for a new Money Talkpodcast. But if you just can't wait
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until next week, you canlisten to previous podcast episodes
at Money Talk with t.com orfollow TIFF on all social media platforms
at Money Talk with T. Untilnext time. Spend wise by spending
less than you make. A word tothe money wise is always sufficient.