The Sherpa Business: How Kathleen Tepley Built a 25-Year Network Orchestration Practice Around 117 Annual Events

Introduction

Kathleen Tepley divides her time between Minnesota, where her family lives, and Los Angeles, where she orchestrates what might be the most extensive business development network in the private capital markets. In 2024, Los Angeles Consulting Group (LACG) produced or supported 117 events across the United States, Europe, the Middle East, and Asia.

That number deserves emphasis. Not 117 events over 25 years. Not 117 total client engagements. One hundred seventeen events in a single calendar year, averaging more than two events per week, every week, for twelve months.

The scale is impressive, but scale alone does not explain LACG’s longevity or relevance. Plenty of event production companies operate at volume. What distinguishes Tepley’s practice is the intimacy maintained despite the quantity. LACG does not produce generic networking mixers or industry conferences. It curates experiences for family offices, closely held operating businesses, philanthropic foundations, and differentiated service providers in private capital markets.

“Listening to the community” is Tepley’s repeated explanation for success. “It’s listening to the needs and the desires and the pain points.”

The listening extends beyond event preferences to deeper strategic challenges. A German family office principal relocating to Silicon Valley does not just need conference recommendations. He needs introductions to the Bay Area venture capital community, understanding of regional deal dynamics, and relationships that will take years to build organically.

A family office interested in a gaming investment opportunity supported by Lakers owner Jeannie Buss and former NBA player Metta World Peace needs more than a pitch deck. They need context on the opportunity, introduction to other investors conducting diligence, and a safe environment to ask questions without commitment.

Ken Kilroy, one of LACG’s community members, called Tepley and her collaborators “Sherpas in this family office investor community.” The metaphor captures something essential. Sherpas do not just provide maps. They guide climbers through terrain they know intimately, pointing out dangers, optimizing routes, and creating conditions for success.

Tepley has spent 25 years becoming that guide.

The Business Model Architecture

LACG operates two distinct but complementary practices, both managed by Tepley. The division reveals strategic thinking about how relationship-driven businesses scale.

The network enhancement practice provides direct advisory services to clients. LACG offers strategic counsel and curated introductions to relevant business partners within its ecosystem. This is high-touch, relationship-intensive work that does not scale linearly. Each client requires customized attention, specific introductions, and ongoing support.

The event production practice conceptualizes and produces both public and invitation-only private events for the global private capital community. These events serve dual purposes: they provide value to the community while enhancing awareness of client brands.

The Lido Family Office Investment Symposium, based in Beverly Hills and Santa Monica since 2010, exemplifies this model. LACG supported production for over a decade, building brand equity for Lido while simultaneously creating a platform where LACG’s clients could connect with sophisticated investors.

The two practices create a flywheel effect. Event production expands LACG’s network and demonstrates value to potential advisory clients. Advisory relationships identify pain points and opportunities that inform event creation. Each practice feeds the other.

The 117-Event Economy

Producing 117 events annually is not physically possible for a single person. Tepley achieves this volume through partnerships and collaboration rather than massive internal staff.

“It’s because of people like you and Chirag and our community that we’ve been able to say yes to do more and more of these events,” Tepley explained, acknowledging Mission Matters as one of many collaborative relationships.

The partnership with Global Family Office Community (GFOC) out of London illustrates the model. GFOC produces high-level family office events in Europe. LACG supports 25 GFOC events annually in the United States while partnering on events in London, France, and Beverly Hills each November.

This arrangement provides benefits to both organizations. GFOC gains U.S. market access and local expertise. LACG offers clients international event opportunities they could not easily access independently. Family office principals attending GFOC’s London event in June meet European peers they would never encounter at U.S.-focused conferences.

Opal Group’s private wealth and family office conference in Napa Valley in October 2024 demonstrates how LACG adds value to existing events. Rather than just sending clients to Opal’s conference, LACG partnered with four family office clients and two advisors to create four private events around the main conference: a wine tour, a private dinner, a reception, and a networking event.

“That wine tour, the tasting of the wine, the charcuterie board, getting the families together, and after that, we’re still getting emails about how impactful it was for them to attend the curated private exclusive events,” Tepley said.

The approach transforms attending a conference from a transactional event (show up, sit in sessions, exchange business cards) into an immersive experience with relationship building woven throughout.

The Curation Philosophy

LACG’s value proposition centers on curation, a term that has become overused in business discourse but retains specific meaning in Tepley’s practice. She curates both events and introductions, applying filters that protect clients from wasted time and inappropriate connections.

Family offices face unique challenges when attending industry events. They attract pitches from service providers, investment opportunities, and fundraisers. A family office principal attending a generic wealth management conference might spend the entire event deflecting inappropriate solicitations.

LACG creates environments where family offices can engage safely. The quarterly round table luncheons with Eisner Amper in San Francisco, Beverly Hills, and San Diego limit attendance to 12 to 16 family office principals and investors. “This is not a pitch event,” Tepley emphasizes. “This is a family office round table, get to know other family office principals.”

The format seems simple: lunch at a nice venue, go around the table with introductions, perhaps a speaker. But the guest list curation determines whether the event succeeds. Inviting the wrong people, those seeking to pitch rather than connect, destroys the dynamic.

LACG’s credibility depends on consistently getting the guest list right. After 25 years, the pattern recognition is sophisticated. Tepley knows which family offices share similar investment strategies, geographic interests, or operational challenges. She knows which service providers add value without dominating conversation.

The gaming investment opportunity supported by Jeannie Buss and Metta World Peace illustrates active curation. LACG structured multiple entry points: virtual presentations on January 8 and 22, 2025, followed by a private round table luncheon in Los Angeles on January 30 for 16 investors.

The virtual events allow interested parties to learn about the opportunity from home without commitment. Those who find it compelling can attend the in-person round table where deeper due diligence and peer discussion happen. The structure filters casual interest from serious potential investors.

The Trust Economy

Family offices operate in a trust economy. They guard privacy, avoid publicity, and carefully manage access. Many family offices will not attend public events or engage with service providers without trusted referrals.

LACG’s value derives from having earned trust over 25 years. When Tepley invites a family office principal to an event or facilitates an introduction, her reputation vouches for the quality and appropriateness of the connection.

This trust is fragile and non-transferable. A single bad introduction, a poorly curated event, or a breach of confidentiality could damage relationships that took years to build. The responsibility weighs on Tepley.

“I have to say it is a responsibility because many times they depend on us to make the right connections, for the right events to attend, the right trips to go to,” she noted.

The responsibility manifests in saying no. LACG turns down more event partnership opportunities than it accepts. It declines introductions that do not serve both parties. It redirects clients toward competitors when another service provider would better serve their needs.

These choices sacrifice short-term revenue for long-term relationship preservation. But in a trust economy, reputation is the only sustainable competitive advantage.

Geographic Expansion and Market Access

LACG’s event footprint has expanded dramatically beyond its Los Angeles base. The 2025 event calendar includes London in June, France in September for a private retreat in Provence, Dubai, Singapore, New York with increased frequency, and Art Basel in the future.

The international expansion reflects client needs. Family offices and investors operate globally. They need access to deal flow, co-investment partners, and market intelligence across regions. LACG’s ability to facilitate these connections in multiple geographies increases its value proposition.

But geographic expansion also increases operational complexity. Each market requires local knowledge, partner relationships, and understanding of cultural norms. A networking event that works in Beverly Hills may not translate to Dubai or Singapore.

Tepley’s approach relies heavily on partnership rather than attempting to build infrastructure in each market. The collaboration with GFOC provides European market access. Future partnerships will likely enable Middle Eastern and Asian expansion.

The Original Mixer, produced with Brian Rabinowitz of CBiz and Heath Goldman of Icon Wealth and Legacy Partners for 18 years, demonstrates the power of long-term collaborative relationships. The event attracts over 250 guests with a private family office reception before the main mixer. Platinum sponsors pay $2,500 to attend the private reception and speak to families.

The success stems from 18 years of relationship building and refinement. LACG did not create this event alone. It supported production, helped curate attendance, and integrated it into a broader ecosystem of offerings. The collaborative approach enabled scale that independent production could not achieve.

The Pain Point Methodology

Tepley’s repeated emphasis on “listening to pain points” reveals her diagnostic approach to business development. Rather than offering standardized services, LACG identifies specific problems and designs solutions.

A family office struggling to find co-investment partners in real estate might receive invitations to LACG’s quarterly real estate investor receptions. A principal nervous about attending industry conferences might be paired with Tepley or a collaborator who attends alongside them, making targeted introductions and preventing pitch ambushes.

A family office interested in venture capital deal flow in Silicon Valley might attend a private dinner in Palo Alto at a family-run restaurant, meeting other investors and local operators in an intimate setting.

The pain point methodology requires deep understanding of client circumstances. Tepley must know not just what a family office invests in, but why they invest that way, what their risk tolerance is, how they make decisions, what their liquidity constraints are, and what their strategic objectives are.

This understanding comes from years of relationship building and hundreds of conversations. There are no shortcuts. New competitors entering the market cannot replicate 25 years of accumulated knowledge through better technology or marketing.

The Sherpa Metaphor Unpacked

Ken Kilroy’s description of LACG as “Sherpas” deserves deeper examination. The metaphor works on multiple levels.

Sherpas possess intimate knowledge of terrain from repeated journeys. They know which routes work in different conditions, where dangers lurk, and how to optimize the climb. Tepley has made the journey through family office networking hundreds of times. She knows which events deliver value, which service providers are credible, and which introductions create lasting relationships.

Sherpas reduce risk for climbers. They identify crevasses, assess avalanche danger, and adjust plans based on conditions. Tepley protects clients from wasting time, making bad connections, or exposing themselves to inappropriate pitches. The curation function is fundamentally about risk reduction.

Sherpas enable climbers to focus on the ascent rather than logistics. They handle equipment, plan routes, and manage camps. LACG handles event logistics, introduction facilitation, and follow-up coordination so clients can focus on relationship building and deal evaluation.

The metaphor also captures something about compensation. Sherpas are not cheap despite not being the primary actors. Their specialized knowledge and risk management justify premium pricing. LACG likely charges substantial fees for advisory services and event sponsorships, but clients pay because the alternative, navigating alone, is more expensive in time and opportunity cost.

Critical Questions and Challenges

Despite LACG’s 25-year track record, the model faces challenges:

Succession Risk: The business appears highly dependent on Tepley’s personal relationships and reputation. How does LACG transition beyond founder dependence? Can the trust and credibility be transferred to others?

Scale Ceiling: There is a limit to how many meaningful relationships one person can maintain. Has LACG reached that ceiling at 117 events annually? Can the business grow without quality deterioration?

Replicability: Could competitors copy the model in other markets or verticals? What prevents a well-capitalized entrant from building similar networks in targeted geographies?

Technology Disruption: Will digital platforms for investor networking reduce demand for in-person curated events? Or does the high-touch nature of family office relationships insulate LACG from digital disruption?

Market Cycle Dependency: Do family offices reduce event attendance and advisory spending during economic downturns? How recession-resistant is the model?

Geographic Overextension: As LACG expands to Dubai, Singapore, and other international markets, does quality suffer from being spread too thin? Can partnerships truly replicate the curation quality Tepley delivers in core markets?

Key Takeaways

1. Volume Through Partnership: LACG’s 117 annual events are possible through collaborative relationships rather than massive internal staff. The model scales through partnerships while maintaining quality through selective collaboration.

2. Trust as Competitive Moat: In family office and private capital markets, trusted relationships create switching costs that protect against competition. New entrants cannot buy trust regardless of capital.

3. Curation Over Content: LACG’s value comes from who attends events rather than what happens at events. Guest list quality determines whether networking opportunities create lasting value.

4. Pain Point Diagnosis: Generic service offerings fail in relationship-driven markets. LACG succeeds by diagnosing specific client pain points and designing customized solutions.

5. The Sherpa Position: Intermediaries who reduce risk, provide terrain knowledge, and enable clients to focus on core objectives can command premium pricing despite not being primary actors.

Looking Forward

Kathleen Tepley shows no signs of slowing down. The 2025 event calendar already includes 30-plus events with more being added monthly. International expansion to Dubai and Singapore represents new frontiers. The partnership with Mission Matters suggests recognition that media and content play growing roles in community building.

The question is whether the model can outlive its founder. At some point, Tepley will retire or reduce involvement. LACG’s survival depends on successfully transferring relationships, trust, and curation capabilities to others.

This transfer is notoriously difficult in relationship-driven businesses. Clients hire Kathleen Tepley, not Los Angeles Consulting Group. They attend events because Tepley invited them and vouched for attendee quality. They take introductions seriously because Tepley’s reputation backs them.

Building a business that transcends personal relationships while operating in markets where personal relationships are everything requires systematizing the unsystematic. Somehow, the tacit knowledge accumulated over 25 years must be codified, transferred, and replicated without losing the essence that made it valuable.

Some relationship-driven businesses never solve this problem. They remain successful lifestyle practices that end when the founder exits. Others, through careful succession planning, develop institutional capabilities that outlast individuals.

Which path LACG takes will determine whether it becomes a lasting institution in private capital markets or an impressive case study in individual achievement.

For now, Kathleen Tepley remains the Sherpa, guiding clients through terrain she knows better than almost anyone. The 117 events per year will continue. The introductions will be made. The pain points will be diagnosed and addressed.

Until someone else can do it as well, the business is Kathleen.

Discussion Questions

1. How can relationship-driven businesses like LACG successfully transition beyond founder dependence?
2. Is 117 events annually sustainable, or does quality inevitably suffer at this volume?
3. What competitive moats protect LACG from well-capitalized entrants attempting to replicate the model?
4. Should LACG build more internal capabilities or continue relying on partnership-based scaling?
5. How will digital platforms and virtual events affect demand for high-touch, in-person curation?
6. What metrics should LACG use to measure success beyond event count and client satisfaction?
7. How should LACG prioritize geographic expansion versus deepening presence in existing markets?

Official Website: lacg.co

Interview Source: This case study is based on an interview conducted by Adam Torres on the Mission Matters Podcast.

Podcast Link: podcasts.apple.com