As family offices expand globally, the demand for specialized family office recruitment has never been greater. Recently, our team attended the 17th FinanceMalta Annual Conference, an international event for financial industry professionals. This conference brings together financial service providers to address challenges in wealth and asset management, corporate services, and family offices.
Emmanuel Daniel, an author, advisor, and global thought leader on geopolitics and finance, shared key insights. He emphasized the global migration of capital and the rise of family offices as a defining trend in wealth management.
The Growing Need for Family Office Recruitment
The family office landscape is expanding rapidly, with estimates suggesting there are now over 10,000 family offices globally. This means a remarkable 38% growth in just five years. North America continues to lead, hosting around 45% of these offices, followed by Europe at 30%. The Asia-Pacific region is closing the gap with 20%. The remaining 5% are spread across the Middle East, Africa, and Latin America.
As the number of family offices continues to grow, so does the demand for skilled professionals to manage these entities. Strategic family office recruitment has never been more critical.
Current Staffing Challenges in the Family Office Industry
The rapid increase in family offices worldwide has introduced new complexities, particularly when it comes to family office staffing. One of the biggest challenges is finding the right recruitment partner who understands the unique demands of these specialized roles.
In some cases, Ultra-High-Net-Worth-Individuals (UHNWIs) turn to domestic staffing agencies, originally hired for household roles like housekeepers or nannies, to recruit financial professionals for their family offices. While this approach may occasionally succeed when the agency has a team with financial expertise, it often falls short.
The reality is that most private staffing agencies lack the necessary financial background to properly assess and select candidates for roles such as finance managers, investment professionals, or accountants. Without this expertise, the hiring process risks bringing in random candidates who may not meet the complex demands of a family office.
At WVB CONNECT, we strongly advise UHNW employers to carefully evaluate the qualifications and capabilities of a recruitment agency before delegating family office recruitment tasks. Ensuring your recruitment partner has deep financial knowledge is critical to building a team that aligns with your family office’s needs and goals.
Our Expertise in UHNW Recruitment
At WVB CONNECT, we pride ourselves on having a team of recruiters who truly understand the unique demands of family offices. Our CEO, William Van Buren, leads the way with over 25 years of experience in investment banking and Big 4 consulting, as well as hands-on expertise in setting up family offices. His leadership ensures we approach every recruitment project with unmatched financial insight.
We specialize in finding top-tier professionals for pivotal family office roles, including:
- Chief Investment Officers
- Asset Managers
- Private Equity and Real Estate Investment Professionals
- Chief Operating Officers
- Accountants
- Personal Assistants, and other professionals.
Our recruitment process is tailored to the complexity of family offices. It’s not just about ticking boxes on a resume, we take the time to evaluate candidates for the expertise, experience, and personal qualities.
If you’re building or expanding your family office team, we’re here to ensure you find the right people to support your vision.
Contact WVB CONNECT for expert family office recruitment and family office staffing solutions today!