Peter Lacaillade

So you might not even get the best of these large firms.

That's the issue on the banking side.

You also don't have... Our average family is over 100 million.

A typical wealth advisor is really...

not as steeped in trust and estate stuff and like the complexities of larger families like some of the boutiques are.

And there are a bunch of boutiques out there that are really good in helping you with your estate, doing bill pay or other family office services, but they might not have a very robust investment platform.

The vision for SCS, when our founder, Pete Mattoon, started the company in 2002, was like, he had had a liquidity event himself.

He was looking for a solution.

And he was like, wow, there's a huge gap in the market.

To bring these two things together, having a world-class investment platform that looks like the best single family offices, the best endowments and foundations, and also is very client-aligned,

and sophisticated on the family office side there are a handful it's probably less than 10 of firms out there in the country who have achieved really significant scale like we have and deal with these types of families because it's hard to get to because scale is really important if you're a billion or two billion dollar firm you don't have the scale of assets to be as relevant on the investment side

So I was really fortunate to join SES when we had $7 billion, and now we're $50 billion.

But I feel like to have a really attractive program in the alternative space, it's difficult to do that sub $5 billion portfolio.

Yeah.

And that's an opportunity for them.

I think you need to have coherence across the platform.

It takes a lot of time.

There's real luck involved.

Yeah, sure.

I mean, I stumbled into the job I'm in to begin with.