Anyone runs trading as a family business

I mean, with children and relatives heavily involved. If so, is it beneficial to everyone involved given not everyone is cut out to be a trader?

In any case I will appreciate if you share your experience.

 

Is possible if you have enough money.

I know family offices with many individuals involved.
But they are big: hundreds of millions and family members do different things: private equity portfolio, real estate portfolio, foundation management, public equity portfolio, etc

 

Given the scant replies my question received, the answer seems to be NO.

 

No, not unless you want your kids to know that Dad gambles for a living.

 

Hehehehehehehehehehehe

 

As long as you trade yourself it's rather a craft and not a business. Becomes a true business (in the sense of using others labor to generate profit) once you hire someone to trade for you.

 

I'll let you know in about 15 years when my children become young adults if my trading becomes a "family business".

Until then, I can't imagine it being any different than any other "family operated business". Regardless, you can easily research Google about the good/bad or pitfalls of managing a family operated business.

 

Sorry pepper,

Was busy in the family office, lol.

Yes second generation here. Manage personal , family funds, real estate, and small business. My children and sisters children are welcome when they come of age but no
in- laws allowed.

 

Of the family members, how many would join the operating business and how many would join the asset management side?

 

thats a great question; but unfortunately unanswerable. on one hand there is what i "want" and what will really happen. there are 6 children ranging from 15 to 5 and i have no idea what they really want to do. as the setup exists right now there is room for at best 4 , but 2 would be optimum. to collect rents and manage issues is not a full-time job (unless i add a few more properties), the small business (30 person) i prefer to wind it down as its a rough manufacturing business that i do not think this next generation would want. trading family funds can take a lot of time but fraught with easy mistakes that can materially effect it. so for now if i can transition a third generation (i'm 25 yrs on board so far) is in question.