Family Office Hiring: Red Flags and Green Lights

NEWSLETTER

Hiring for a family office is not easy. Family offices seek high-level operators, but stereotypical "Wall Street people" often don’t fit the family office mold.

When hiring for a family office you’re selecting someone to uphold trust, confidentiality, and the values of the family they support.

Since family offices are typically small teams, the wrong hire can be incredibly disruptive. Given the close proximity to the family, the candidate’s personality must align with the family dynamic.

I’ve seen highly qualified candidates for senior roles overlooked simply because they didn’t gel with the family. The wrong hire can create ripples that disrupt operations, strain relationships, and ultimately jeopardize wealth.

This doesn’t mean hiring yes-men, it means hiring the right candidates.

Today, it’s a look at the red flags and green lights in family office candidates.

Family offices usually operate in close quarters with the family. That means employees need to excel both professionally and personally. A mismatched hire can be a direct threat to privacy, legacy, and the long-term goals of the family.

So let’s take a look at the ten key red flags, green lights and questions to ask when building your family office team.

Family offices have gained significant popularity as they become better understood and more visible in the investment and wealth management world. This rising interest has brought a wave of professionals from diverse backgrounds into the sector.

This is a good thing.

But while family offices are undoubtedly attractive, many candidates approach the space with little understanding of what it actually entails.

They see family offices as a lucrative or prestigious career move but lack clarity on how they can add value or align with the dynamics of these organizations.

This “grass is greener” mindset often leads to mismatches. Candidates may express general enthusiasm without articulating a clear vision for their role or how their skills fit the family office's needs.

Hiring managers should probe to understand whether the candidate has done their homework or is simply drawn by the allure of the sector.

🚩 Red Flag: Candidates are excited by the prestige or perceived financial upside without a real understanding of their role, responsibilities, or how they can add value. Too much ego in a candidate.

🟢 Green Light: A candidate who has researched the family office space, understands its unique structure, and articulates how their skills align with the specific needs of the family.

🗣️ What to Ask: “Why a family office? Why not a traditional corporate or investment firm?”

Loose lips sink ships!

Confidentiality is non-negotiable. Period.

A candidate who shares details about previous employers – even if they seem harmless – could pose a risk.

🚩 Red Flag: Overly eager to name-drop or share sensitive anecdotes during the interview.

🟢 Green Light: A candidate naturally avoids sharing unnecessary details about previous roles and emphasizes confidentiality as a core value.

🗣️ What to Ask: Ask personal questions about previous employers to see how the candidate reacts. Ask behavioral questions like, “How did you handle confidential information in your last role?”

Family offices require flexibility. Whether it’s juggling investments, managing personal requests, or dealing with family dynamics, the ideal candidate must be able to adapt.

Generalists matter in family offices.

Family offices thrive on versatility. Generalists bring a broad skill set, allowing them to navigate diverse responsibilities. From financial strategy to lifestyle management, they bridge gaps and adapt quickly—qualities critical in the ever-changing environment of family offices.

“‘That’s not my job’ is not an acceptable answer when it comes to family office roles. We are trying to identify problem solvers not problem creators. Simply put, the mindset has to be non-judgmental in that if it is important to the family, it is important to the family. Period.” - Brian C Adams

🚩 Red Flag: Rigid career paths or reluctance to embrace roles outside their defined expertise.

🟢 Green Light: Someone who embraces a generalist mindset, is proactive in problem-solving, and is comfortable wearing multiple hats.

🗣️ What to Ask: Present hypothetical scenarios. For example, “If a family member needs immediate assistance that’s outside your job scope, how would you handle it?”

…

Some more family office interview questions from Agreus.

This one sparked some conversations. The marginal value of earning more when you’re a billionaire.

A primer on Family Banks. For a deeper dive, check out this newsletter.

Three notable family office job opportunities currently open…

Accounting Operations Specialist - Taylor Family Office (St. Louis / Single Family Office)

Investment Associate - Private Family Office (Boston / Single Family Office)

Tax Director - Private Family Office (New York / Multi-Family Office)

This week I’ve been reading Range by David Epstein. This is such a relevant book for family offices and families. It focuses on the value of being a generalist. There are two points that I find particularly important. 1) Family offices love generalists. They are typically small teams and generalists are required to manage diverse activities (often leaning on and managing external specialists). 2) If you’re worried that your kids don’t have a plan or are concerned about AI’s impact on their job prospects, this book will give you an interesting perspective.

In this episode of the Inheritance Podcast, host Jay Hughes discusses wealth as holistic well-being, emphasizing human, intellectual, and social capital alongside financial assets. He shares insights from his book Family Wealth: Keeping It in the Family and his experience advising multigenerational families.

The conversation around AI seems to be getting to fever pitch and Davos was no different. Here’s an insightful interview with Anthropic CEO Dario Amodei where he outlines Claude AI’s next chapter - from web browsing, voice to more advanced models - while predicting that AI could reach human-level intelligence within just a few years.

The book Range has inspired me to write more about generalists at family offices. More on that in an upcoming newsletter. I’ve also had some great suggestions come in from readers.

So look out for future newsletters on the art world, UHNW dating, wealthtech, family offices and AI and much more!

And we had a nice milestone this week. We ticked past 6,000 newsletter subscribers with some great open rates. The community is going strong!

Family Office Buzz will be back on Monday (here’s the last edition if you missed it, it included personal finance services used by wealthy founders and a story on how Crypto's richest man has a new family office.

Until next week, see you on 𝕏 or LinkedIn.

X