Should I leave my job to help a family friend start up a family office
Looking for some advice from some family office peeps. I have a great gig now but this opportunity feels too good to pass up. A close mentor and friend asked me to leave my job and help him grow/manage his personal investments. He has told me he wishes his kids (who I am pretty close with) were involved in his companies - they each have their own hobbies/businesses. He said he wants to essentially set me up in his businesses and give me some participation in deals. It feels like he is putting me in position to manage his investments when he is ready to retire and live easy.
His investments are pretty diverse - he has around 3000 multifamily units (and growing) that he owns and manages through a real estate company he owns in addition to some opportunistic investments where has taken an active role. He mostly runs an industry leading company grossing over $1B in revenue but this organization has thousands of employees and runs itself - my involvement here would be minimal. He is in his 60s and shows no signs of slowing down on the investment front, if anything he has made some of his biggest investments in the last decade. His net worth is in the low nine figures.
His team is essentially non-existent. There is currently one other person working for him. It is not clear exactly how he'd bring me into the fold but there is definitely no shortage of work. He expressed that he's looking for a business mind with analyst abilities but I imagine at least part of the role will be administrative. Fortunately he has a personal assistant so I am optimistic that he won't turn me into a paper pusher.
I am wondering if anyone here has experience stepping into a start-up family office with a limited team and what this experience was like?
What is the common trajectory of a small family office set-up like this?
What is the common trajectory of an early hire in a set up like this?
What are the exit opportunities if I decide to walk? He has a great name in this market and is pretty well known in his primary company's industry but the name itself doesn't hold as much cache as some of the more well known family offices.
What is common comp structure? I am in a tier II/III market.
How do I avoid getting loaned out pro-bono to family and friends?
There is a lot of professional experience in this community. I welcome any general thoughts or experience around this. Thanks for reading.