Are you wondering what exactly a family office is? Has one of your clients been approached with an investment opportunity from a family office? Are you a professional who is seeking to work with family offices? It seems like you can't turn around these days without bumping into someone who's talking about, or working with, or hoping to be a part of a family office. Well, today we're gonna pull back the curtain and take you inside the world of family offices on this edition of the Inside BS Show. Hey now, I'm Dave Lorenzo, and today we're back with another mentor moment with Harry Sandrowski.

Hey Harry, how you doing today? I'm doing great, Dave, glad to be back. All right, so Harry, you have taught me an enormous amount about the world of family offices, and I am thrilled to have this discussion with you and the folks who are with us today. Your firm, Sandrowski Corporate Advisors, which is a division of Prosperity Partners, has a deep area of expertise in family offices.

So to get us started, one of the expressions that you use all the time, and it's stuck with me because, you know, if I've heard you say it once, I've heard you say it to people a dozen times, if you've met one family office, you've met one family office. So give us, as best you can, an idea of what a family office is. Okay, Dave, you know, no, that's true.

I actually had a good friend and a client say that to me a long time ago in defining it. So every family is different, first of all. So by definition, they're gonna have different goals, ambitions, and obviously, depending on the ages, the legacy is gonna be slightly different.

But primarily, you know, when you look at family offices, you have, there are like four different types of family offices now. You have what's referred to it as an embedded family office. So you might have a operating business that is doing very well.

You have a CEO, a CFO, maybe general counsel that's helping you, helping the family run that business. That business then generates cash and distributions to the family, and then the family does invest in, let's say, marketable securities. They might invest in real estate.

They might invest in a variety of things that they feel is gonna be important to balance everything out, because probably a large percentage of their wealth is in the company, which is non-liquid. Now that they have this liquidity, they wanna make sure that is set up properly. So what they end up doing, the reason they call it embedded is you are utilizing the talent in the business, your CFO, CEO, general counsel, might be somebody on the investment side or due diligence, in order to vet out the type of investments that you're doing, and then they will oversee that in their capacity, even though they're not employees of those entities, they'll make sure those entities are set up right.

They might even be signature authorities. They'll make sure the insurance is right, because it'll be tacked on to the business insurance. So that type of one is included in the business.

So they really haven't formally set up hiring outside professionals that come in and help the family. In a single office family, in a single family office, that means that office is dedicated just to their family and the investments in the family, and then the legacy with respect to that. So they are actually hiring normally outside professionals in addition to the family members to help with accounting, with tax, with estate planning, philanthropy, airplanes, tickets.

It's gonna be a whole variety of things that they're gonna be doing for the family, educational matters, and how they're seen in the business community, how they're seen in the community for charitable giving. So you're gonna have that, but it only relates to that family. Now that family could be large, but it also could just be three or four people, because today a lot of people only have two children or three.

We don't have the biggest families. Sometimes a brother, two brothers, two sisters also could pull their assets together if there was a family business that was sold. So technically it'd be more than one family, but you would look at that as one family office.

Then you have what's called multifamily offices, which are when different families pull their assets, pull the talent together to work together, to share best practices, to share investments, and to share opportunities, and also to help balance maybe friction in one family as compared to another, teaching them. You're gonna have the head of this family go talk to the son over here, say how things are going, or maybe one son goes to talk to the other son. So it really helps out a lot with respect to that.

It also helps with respect to opportunities, how to do things, what went right, what went wrong. It's not only the patriarch and matriarch telling you the same thing over and over again, somebody else telling you that. It's just like your kids.

Your kids go over to someone else's house, and God, their parents are so much smarter than you are. So it's the same type of thing that people can do. Also today we really have a fourth category, what I would call is the virtual family office, where a lot of entrepreneurs who have done exceedingly well will just have people in certain areas to assist them.

So it's not anyone that's really in an office that they're going to, but they're functioning in the same way. And we're seeing more and more of that today because the younger entrepreneurs, they're out there, man, and they're asking a lot of questions and they wanna know what's going on. And so they don't want all the administration and all the overhead and everything else.

So a lot of times they're just gonna go out and hire people just to do certain functions for them. Might be as an independent contractor or whatever the case may be. We see a lot more of that today than we would otherwise.

In a typical family office or even in a multifamily office, what you end up having is sometimes what I call fiefdoms. You have one person you gotta get through, and I will tell you the younger entrepreneurs aren't with that at all. They wanna be making the decisions.

So there's many, many things that are separate. That's a great overview. Thank you, Harry.

Now let's get into some of the reasons why a family office is important. One of the first reasons is for managing the investment of the money. So let's say a person comes into Wealth from selling a portion of their business or selling an entire business, and they have a windfall from that, and that money needs to be invested by professionals.

Explain what the process is like. So I sell a third of my business, but I get $100 million. You're my accountant, and you look at me, and you go, time for a family office.

What happens? So what you're gonna look at there is, so we would have to sit down with you and say, what are your goals? If you're only selling a third of the business, obviously then it means you have two thirds. So you'd have to sit down and say, okay, what does that mean relative wealth-wise? Where do you wanna be from liquidity? A lot of times people in your situation would be, now I wanna build that second home for $30 million. Should I buy a plane? Should I get a plane card? So what we do is we know their lifestyle's gonna change, and what we try to tell them is how that should change over time.

So a lot of times we have young entrepreneurs. They do exactly what you say. They wanna go out and buy a plane.

We say, well, wait a minute here. Let's go out and get a card for two years. Let's see how you use the plane.

Your choice of plane might change over time. What you need it for. How are you gonna use it? Because they all come back and say, I'm gonna fly 500 hours a year.

They go back, no, how many hours? That's a lot of hours. Yeah, it might be in the 50 to 100 range. So obviously all that drives the economics.

So what you're trying to do is take a look at what their world's gonna be after, and because they probably have some type of entrepreneurial, what you're gonna do is what we call an asset allocation of that $100 million and say, okay, we're gonna put so much in your traditional marketable securities, bonds, things of this nature that are income generating. You're gonna have, let's say, five or 10% for you to go out and do whatever you wanna do spend because you wanna go out and have some fun. And then you're gonna have, let's say, five or 10% that you're gonna invest in other companies.

Okay, so we try to set it up. So you just don't do things willy nilly with respect to that. Now, it's hard keeping the horse in the corral with entrepreneurs, but that's what you try to do is you try to set up some parameters.

So they don't wake up three years from now and a good part of that $100 million is gone, and they don't know why. So we're trying to set that up now and making sure we have some guardrails. The one thing there is we find you have to communicate with them almost weekly about where their cash is, what's going on, so they can kind of see.

And then we also give them cumulative reports to say, hey, look, you said you're only gonna spend 20 or $30 million on this house. It's gonna be 40 or 45 now. And making sure they understand how that impacts their liquidity long term.

So it's a process. You gotta have thick skin because you can't always be the person to say no. That won't go.

So you have to find a way to communicate that in a meaningful manner. So if you're introducing this concept to someone who's newly wealthy, who's not used to it, basically it's professionalizing the management of the money they've just acquired. So the way I express it to people like that is you put systems and processes in place to get your business to the level that somebody wanted to give you all this money for it.

Now you need to put systems and processes in place to manage the wealth that has come to you as a result of running that business effectively and efficiently. So let's be as effective and efficient in handling the wealth as you are with the business. That's right, Dave.

And we had a client last fall who went through a very major transaction. He's got a lot of entrepreneurial spirit. I went out to meet with him out in Phoenix for dinner, congratulate him and everything else.

And the first thing I told him was, I don't want you to do anything for nine months. Nine months? Any major investment decisions, I don't want you investing anything for the first nine months. I said, you'll feel better.

That'll give you some time to think about it. We'll have your money invested in liquid investments with an appropriate advisor, not us, but with somebody that's their good wealth advisor. Then let's start to see what you wanna do and how you wanna do it.

I said, because if you don't do that at the end of nine months, you're gonna be out five or 10 or 15 million dollars and they're probably not gonna be good investments. You know, there's a family in Chicago, McNally family, they tell you this on and on. So they sold their business and they did a great job.

The grandfather was really good about setting up the family office. And they started, they took the money and they thought they could just go out and invest in other companies and it didn't work. So they did something else.

They actually set up their own private equity fund. So, and they just had the family office separate because they realized early on they couldn't transfer those skills. And it's hard to tell a client, you can't transfer your skills from your business always to all the other businesses because they think they can and they end up losing a lot of money.

So we try to give them examples and points in time to say, just sit back for a bit, you'll feel better about it too. So it's kind of like them coming up with a business plan after that point in time. So that's where we try to put some guardrails on.

You have mentioned over the years to me and I think you alluded to it earlier in this conversation, some of the lifestyle aspects of the family office role. One of them that I am always fascinated by and I've seen it with people that I've connected with a few times is that these folks who sell their business, especially if it's publicly known or if it's known throughout a specific industry, they constantly are being pitched on other investments. Talk about the role the family office can play in shielding the principles from the relentless asking for money.

How does the family office help with that? So let me just comment on the countless relentless asking for money. So I was talking to one of the wealth advisor that we work with quite a bit. We both helped the same client exit a business.

The client got 274 emails in three weeks asking for money from people he hasn't talked to in years. That excludes the family members. Wow.

And cousins and things of this nature. So it is relentless. So what we try to do is, with working with the other advisors, what we try to do is set up a filtering system.

So if a deal comes in, the client can say talk to Dave or talk to Harry. We can say no and they can say face. We can't put them in a position of being the face for making those decisions because that just puts them in a bad place with respect to people they see at the country club or friends, family members and things of this nature.

So what you're really doing is you're putting in a robust filtering system to look at all the deals. And then you have to tell the client too, we're gonna look at all the deals the same way. It's got, they gotta have the proper due diligence.

They gotta have this, this, this. We have to set it up and go through that process. But I will tell you it is relentless and it doesn't stop for a year or two.

And when you're structuring the family office itself, a lot of people want details, right? Is it as simple as they come to you and they say, Harry, I wanna set up a family office and then you sit down with them. You create an entity like a business entity, whether it's an LLC or whatever you guys decide is appropriate. And that company then becomes the Joe Smith Family Office LLC.

That's the family, that's how it works? Yeah, kind of, sort of. I think first of all, you sit down with them and you find out what are their goals and ambitions going forward. So you can kind of shape that a little bit more.

We might set up three or four different entities. Family offices by themselves, the tax deductibility of a lot of expenses is very tricky. I'm not gonna get into that here.

And I will tell you that probably nine out of 10 are not set up properly that we see that we inherit. I was just talking to one of my partners about that this morning. So that's, but in generally speaking, what you're doing is you're trying to set them up for the future to make sure we set everything up correctly now.

So some things we might say, okay, let's just form these entities. Now we'll put these assets in or this is what we're going to do. And then we'll say, as we go along, this is the intention of doing it.

So it'll kind of be an evolutionary process. But yes, we can, we help them do that. We work with legal counsel.

And we would also work with their wealth advisor or other advisors they might have on their team in developing that. Because it's really a team approach to what you're doing because everyone has different talents and different experiences. So that's the important part.

So as advisors, every advisor I meet, I trip over advisors who are talking to me about family offices. And then you say, okay, I'm going to make an introduction. They don't even know where they should begin the conversation, right? So Harry, what type of help do family offices need? What type of advisors do the family offices that you work with, the family office manager comes to you as their CPA and says, Harry, can you find me somebody to help with this? What are the most common requests you get for help from professionals? So I would say there are gonna be a couple of things there.

One is going to be is, let's say, in the alternative investment space, whether it's private equity, venture capital, you know, hedge funds, that's gonna be an area where you're gonna have somebody who really has experience in those to help the family. They might wanna do an allocation to that. Sometimes it's finding the right general counsel for them you know, to assist, you know, in getting things set up.

Sometimes if they're going out and buying a business, it's finding the right M&A attorney who has real experience in doing those transactions because all business attorneys are not good at M&A and all M&A attorneys aren't necessarily good at business. So, you know, you have to bring in the right people, you know, to do that. But it's no different than, you know, I wanna go out and buy the airplane so I need to have an airplane consultant that we know and trust and have dealt with before, you know, to assist in that process or Art or Chateaus or whatever the case may be.

So what you're really doing is getting them to the right people, you know, in order to make a well-informed decision. So I mean, I find about a third of my day on average is I do nothing more than solution provide by making introductions. And that way our clients, you know, are just better off, you know, all the way around.

And it's amazing even, you know, working with you on certain things, you know, how that is so well received because, you know, a lot of people, and I mentioned this, I think, to you day before, you know, they talk about all these services they can do for, like you said, they don't know where to start. Because what they do is they list out 45 things they're specializing in. You can't be a specialist in 45 areas.

You know, so that's where we try to, you know, really drill down. We do a few things exceedingly well and we get everything else outsourced. That's the model that you want.

A family office doesn't want somebody who has 45 areas of expertise. It's bullshit. You know, they want somebody who really knows how to do it and get it done for them that specializes exactly what they're looking for.

So that's where we try to filter the other advisors out in that process. Talk about trust and how important trust is. My experience in dealing with people, regardless, I would, dealing with everybody, but particularly affluent people, they're targets more often, obviously, than people who don't have money.

So if you do exactly what you say you were going to do for them, you're gonna be invited back to do other things. Explain to people how the trust in that area will be transferable and they will ask you for your advice in another area. So for example, you, you're their advisor on tax-related things.

They're gonna come to you and they're gonna say, connect me to a consultant that can help me buy a plane. Connect me to someone who can help with a 1031 exchange or with real estate that I'm gonna buy in Colorado. Because they've trusted you with something and you've done exactly what you said you were gonna do.

You went above and beyond. So now they trust you in other areas. Explain how that works.

So I would say trust comes at three different levels. One is keeping things confidential. Okay, and I mean by that, their general business.

Two is the trust comes involved in keeping separate conversations separate. Not gossiping amongst the family members. You know, things of this nature.

People have to have the ability to talk to you. You take it in confidence. You use that information in an appropriate manner.

So I think there's those two levels of trust. If somebody calls our office today and says, I'm calling on behalf of Mr. and Mrs. Smith. You know, they've asked me to talk to you about something.

I just ask, what is your name and what is your phone number? I'm not talking to you. Then I call Mr. and Mrs. Smith and say, these people called me. So you gotta have a system in place because we never tell people where our clients are.

And we've not done that for the 40 years plus we've been in business. But getting back to your point about why would they come to us to ask us for the other consultants, whatever they need? Airplanes, art, whatever it is. Because they know in talking with us, because we've explained to them how we vet and the organizations that we belong to, how they actually vet out the other professionals.

And that's very, very important to them to make sure that they're gonna uphold to the standards and things of this nature. Just like GGI, when I explain to people when we make a reference there, I said, there's a 25 page checklist on how they have to interface with us. And this is what needs to go on from a quality standpoint.

I said, the good part is no one has to pull it out because that's the way they conduct themselves. Because it's inbred, it's a part of the culture. And that's why it took us two years to dance with GGI because we needed to make sure that was actually going to be there and we've not been disappointed.

So I think that's the important part. They trust you because they know you're not gonna make a dollar more by making that referral, but you have the ability to lose their work if it's not a good referral. Only thing that we ask for when we do the referrals is that we're involved in the process to make sure it's done right.

Because sometimes people can have a bad hair day or they put something in the back of it from a priority standpoint. So we need to have the ability to make sure the process is moving along at the speed and the quality that they want. And I think that's what's important.

That's great. I think that's terrific. So what are some of the best practices for bringing in top talent into family offices? How have you seen family offices attract top talent? Because they're capable of providing whatever compensation somebody wants, but that person's only going to work for that family office or that family from the time they join all the way through, right? So how do family offices attract top talent? Dave, that is the number one hot topic of family offices today.

Because what's happening is a lot of your larger family offices really act like private equity or venture capital firms, and they are attracting the top talent. They are paying them millions of dollars. I know one young gentleman that's got lured away, his base pay is two and a half million dollars a year plus equity.

Wow. Because he invests in a certain area that they wanted to get involved in. So with the family offices, you not only have to pay a competitive rate, whatever that is, and get the information, you have to create an environment where those people know if you don't have the right tie-in in the morning, you're still going to be working there.

And you have to give them upside through a profits interest or a long-term investment plan. They have to have some ability to reap more than just their paycheck with respect to what's going on in a family so they really feel they're part of the team. And then you have to make sure that they feel they're actually going to be able to have the appropriate level of input or influence in how the family office is run, or at least their section is run, depending on their size.

I think that's important. It comes down to a lot of culture issues. And they can pick and choose.

If you want to get into private equity, I mean into family offices, it is prime time. You can basically select what you want. You know, it's interesting, Stanford University, out in California, University of Chicago, they're all now creating new master programs for family offices for professionals.

That's how dire it is for the family offices to hire the right people. So people are actually going out there now and getting trained and understanding how family offices work, investments, the whole dynamics, the psychology part. It's becoming more and more professionalized.

So if somebody's listening to this and somebody's watching this, how do they get involved with family offices? Because you can Google family offices, but you can't knock on the door and say, hey, can I manage your money? Or you can't go in and say, hey, can I look at your taxes and see if I can save you money on your taxes? Or you can't knock on the door and say, can I sell you a jet or a yacht or some artwork? So how does somebody break through if they want to get into working with family offices? What's the ground floor way that they can get in front of these folks? I think there's a couple different ways. I think you have to be a thought leader in whatever area that you, you know, like Warren Buffett said, you know, invest in yourself and be the best that you can be in whatever profession that you've selected to be in. And then I think you need to demonstrate that in the business community itself.

You know, today with the internet and social media and everything else, there are ways to get your message out there in an appropriate way. I would say, make sure that way is not sales driven, that it's thought driven, that you're a thought leader. People want people who are actually thinking about this stuff, just not talking about it.

You know, that would be one. The other one would be, is to get involved in your community. You know, go on boards for, you know, not-for-profit.

Find, you know, if you want to go after a family and you know that they're big into, let's say, I want, you know, making sure that women and children are not abused or pick some area that's, you know, important, child cancer or whatever the case may be. You find a way for you to get involved in those organizations. That might be a way for you then to get introduced in a different manner, but they know that you care about something they care about.

And I think that's going to be important that the values are aligned. And I, and you know, the one thing, it's kind of goes back to the old adage. They also need to know that you're a good person, that you don't gossip, you don't talk about people behind their back.

You know, I always go back to the University of Michigan, Bo Schembacher's. You say, it's the team, it's the team, it's the team. We are not going to talk about each other, we're going to help each other.

You know, so it kind of goes back to the same thing that's how you got to conduct your life. And you got to, that's how you have to be out in the community. But if you know, if you're having these little sidebar conversations with people, they're not going to like that.

That's not going to work over time. So, you know, I think it takes a long time to do that, but you'll be surprised at the end of the day that you'll have a better value that you're bringing and your business will be built on a more solid ground by doing that. Because all you need to do is get involved with one or two or three, and then you're in that arena.

And once you're in it, it's an interesting process. Something doesn't come up every month, but it comes up. People are going to say, talk to Dave, talk to Harry, whatever the case may be.

So people go back and, you know, how you conduct yourself. I got an email from somebody today, I did a transaction back in 1991. Oh, wow.

You know, wanting to get back together on something. You know, so you just don't know where these things are going to come up. And that's probably because, you know, we got along back then.

We treated each other as professionals, but it goes the same with the family office. Remember, as you're coming up, as the younger people are coming up, you know, they're working with, you know, in private equity or venture capital or investing with family offices, even though they're not a part of a family office, how you conduct yourself with them is going to be important because those people could be running that family office down the road. Yeah.

You know, so what you do today does impact what you have tomorrow. And how you're seeing tomorrow. So, you know, I think that's important.

And people just can't get that in their head. They think there's going to be instant results. You know, you go back to the Kobe Bryant type things.

He says, you know, I took that shot a thousand times before I took that last shot. You know, he was up at three o'clock in the morning for his first workout and he had three workouts a day. Yeah.

So, I mean, it's the same thing. You just go at it, go at it, go at it, work smart. And good things will happen normally.

So to your point, there's someone that you and I know in common. I met her 15 years ago because I was good friends with her boss who was the managing partner of a law firm here in Miami. She happened to be, at the time when I met her, she was the office manager.

She then kind of moved up the ranks and became like his chief of staff. Unfortunately, the gentleman passed away. The firm was dissolved.

Years later, I lose touch with her. Years later, I'm with you and I find out you're going to have lunch with somebody. We're at a meeting together.

You're going to have lunch with somebody. Who are you going to have lunch with? This person who is now a very important person in a family office, which is... So the world of those folks is very small because of the nature of the trust, the skill and the expertise that people perceive that folks in that world have. So to your point, be a thought leader, educate people.

And then once you get invited in, treat that trust like it's an egg and it's fragile because you'll go as far as that trust will take you. Yeah, and again, remember, even when you're let in that way, Dave, you can't be selling. Right.

I think that's the important part too here. You want to be seen as a valuable resource, not somebody just selling whatever services you have. And I know that we've been invited and sometimes they said, look, you never talk about yourself and what you do.

You're always asking us questions about what we need. Yeah. And that goes back to the solution provider things because a lot of times, a lot of times I say, we'll go first and we'll make an introduction.

It's the same type of thing that if I can be helpful to you and even in the area that I don't have any expertise in, but I do know people who can do it well and have good reputations, that's to me as important as getting an assignment. I know I got to pay the bills and everything else, but I'll get the assignment and it might be a different assignment down the road or it might be them referring us to another friend. So what are some of the services that Sandrowski Corporate Advisors and Prosperity Partners, because you're a division of Prosperity Partners, what are some of the services that you provide to family offices? What do they ask you for, Harry? Well, a lot of times they're asking us, we mentioned earlier about setting up a family office, they're helping about estate planning, generational planning, generational education, where to go to, how to do it.

Obviously we do a lot on the tax structuring and making sure that the businesses are set up right. What's great with, now we have 130 tax professionals. We have people who have areas of expertise that I didn't have before, let's say in oil and gas and certain other areas where clients might be invested.

So that's nice or whatever the case may be, we also have a group now specialized in just not-for-profits. But the idea here is understanding what that family office wants and then drilling down to the best people you can get. If we don't have the best people for it, we're gonna go to somebody else that is, because we gotta deliver that high caliber service to the clients and it's just, that's what you have to focus in on, what can you deliver? You know, we have a saying in our office, and you probably heard this from John Alfonsi too, when we deliver a service, our rule of thumb is, could I be an expert on a witness stand in front of a judge or a jury with an opposing counsel, would I qualify under their auspice as being an expert? That's what we practice.

And if we can't meet that high goal, then we will refer that area out to someone else, that's all they do. You know, so that's what's important here. If a client sees you stretching, family office sees you stretching, their view of you is gonna go, it's gonna fall precipitously like the stock market can.

So you gotta be very careful each step of the way about what you're doing, how you're providing it. You know, I've never gotten any blowback from a client saying, you know, we really need to bring in somebody who has a specialty in us, they go, okay, who is it? They don't give you a blow, they don't say, you can't do that, because they know we won't. Because we've set that standard up for them, we told them up front, we don't do everything, you know, that they might need under the sun.

And I think people respect that more, especially in today's complicated world. It's just, it's too much. You know, it's like doing operations, you know, with Allison, I mean, she's got a great way of doing that.

Do I know enough to say somebody needs to hire her for operations? The answer is yes. She's doing the answers now. No, that's great, that's terrific.

All right, Harry, so if people want to reach out to you for help with questions about setting up a family office, or if a family office is already set up and they wanna make sure it's tax efficient and effective, is the best way for them to reach out to call you? Yeah, best way, call me or email me. You know, one of the things too, Dave, I should have mentioned earlier is, we do what we call family office operational reviews to see how they're set up, to make sure what they think is happening is actually happening in our organization, to make sure their long-term plan is actually going to be implemented and can be achieved. So that's always a good way to kind of look at it holistically, coming in at 30,000 feet and saying, how are you set up, before you start getting into the detail.

Sometimes if you get into detail first, you don't get the best result, you gotta look at it big picture. So yeah, I mean, we, you know, just give us a call or, you know, also on our website, you can tell us what you want in confidence and we will get back to you. As a matter of fact, right before I got on here today, somebody called us up and they wanna buy a construction company and a bunch of real estate and want us to help them on due diligence.

They just went to our website to ask. Oh, that's great. Okay, so if you wanna reach out to Harry or anybody on the team at Centralski Corporate Advisors, they're a division of Prosperity Partners, you can reach out to them by calling 866-717-1607, 866-717-1607.

As Harry says, Centralski Corporate Advisors does a few things, but they do those few things really, really well. This is one of the things they do exceptionally well. Reach out to them today, 866-717-1607.

Harry, thank you for spending this time with us. I really appreciate it. Thank you, Dave.

Thank you for inviting me. Alrighty, folks, that'll do it for this edition of the Inside BS Show. I'm Dave Lorenzo, the Godfather of Growth.

We'll be back here again tomorrow at 6 a.m. Until then, here's hoping you make a great living and live a great life.