It's not easy to build a management team for family offices.
In this episode, I speak with Brian Adams, Principal at Mack International. We discuss his transition from the commercial real estate industry to executive search for family offices. He explains the unique challenges of hiring for family office positions, including the need for candidates with both technical skills and emotional intelligence to work within a family construct.
Adams also highlights the stability and control that family offices offer compared to traditional finance roles. He discusses the increasing importance of family offices as their own asset class and the trends of leadership transition and the creation of new family offices. Overall, he provides valuable insights into the world of family offices and executive search within this niche industry.
Takeaways
Hiring for family office positions requires candidates with both technical skills and emotional intelligence to work within a family construct.
Family offices offer stability and control compared to traditional finance roles, which can be attractive to professionals seeking a long-term career.
Family offices have become their own asset class and are increasingly professionalized and institutionalized.
The future of family offices includes a leadership transition from baby boomers to the next generation, as well as the creation of new family offices and the splitting off of branches within larger families.
Chapters
00:00 Introduction and Background
00:40 Transition to Executive Search
03:21 Hiring for Family Office Positions
05:29 Differences in Hiring for Family Offices
08:24 Compensation and Career Path in Family Offices
10:22 Rise of Family Offices
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This podcast is sponsored by Kahr Real Estate Services (https://www.kahrrealestate.com/), a leading provider of in-person and online financial training for the commercial real estate industry.
Sign up for our live Excel modeling training class here: https://www.kahrrealestate.com/product/excel-for-real-estate-analysis/
Sign up for our self-paced Case Study course here: https://kahrrealestate.thinkific.com/courses/kahr's-challenge-cases
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