Robles leaves Family Office Association amid differences with current leadership
Angelo Robles, the charismatic founder of the Family Office Association (FOA), has left the organization amid tension and disagreements with an investor he brought in who eventually got controlling interest of the FOA.
Robles launched the membership organization for ultra-high-net-worth individuals in 2008 but recently resigned over differences about the group's direction, he told Crain Currency in an interview.
"I wanted to move onward and upward, and they're going in a different direction," he said, adding that it's painful to leave an organization he still considers his "baby" and hopes to launch a new venture this summer.
"I wish the current owners and leadership the very best, and I'm sure they'll do a good job," Robles said. He praised FOA Chairman Mike Packman as a "visionary" and successful businessman who is focused on philanthropy.
The FOA did not return calls for comment.
Robles built up the organization, which expanded along with the growth of family offices in the past decade and a half. Along the way, he focused on single-family offices, consulting them on innovation and best practices.
He admits that he could be strong-minded and a forceful presence when it came to transforming SFOs in the post-COVID era. "Did I make mistakes? Sure, I did. Maybe I rushed it a little bit and pushed along those changes too quickly," said Robles, who has a holding company that is active in deep tech, Web 3.0 and crypto.
"I might have lacked a little bit of humility and let ego get in the way. I'm an imperfect person, but I will always be a lifelong learner and be careful of business decisions moving forward."
Robles, who said he's proud of his legacy in the family office community, wants to "take this opportunity to reflect and learn" and travel the world to meet with family office executives and billionaires and figure out his next steps.
He said he doesn't have a noncompete agreement and is considering creating a "mastermind group of members from various verticals" and consulting wealthy families, adding that he has amassed a unique set of data points on billionaires from talking with them over the years — “what do they watch, who do they listen to, how did they grow up, what is their IQ, do looks matter, what would they tell their 18-year-old selves."
"I have a good feel for what the next year and the future is going to look like."