Mack International Discusses 2025 Family Office Talent Trends in Webcast

On March 28th, 2025, Linda Mack and Brian Adams from Mack International had the opportunity to share their insights during a webcast sponsored by Family Enterprise USA. The event was titled 'Secure Top Talent: 2025 Family Office Hiring Trends Unveiled' and provided a deep dive into the evolving landscape of family offices and the increasing significance of talent acquisition, effective outsourcing, and managing generational transitions.

Pat Soldano, the President of Family Enterprise USA, moderated the session, which was rooted in a report authored by Mack and Adams earlier in January. This initiative emphasized the crucial need for family offices to adapt their hiring strategies in light of industry dynamics and emerging challenges.

Outsourcing Insights

One of the primary topics was the practice of outsourcing the Chief Investment Officer (CIO) role. Linda Mack pointed out that for families with less than $1 billion in assets, building an in-house investment team can be prohibitively expensive. Rather, many opt to outsource the CIO function, allowing them to access top-tier talent while sharing associated costs. Brian Adams echoed this sentiment, suggesting that outsourcing provides a viable solution for families lacking experience in investments, though it is essential to evaluate roles based on the family's unique priorities.

“Every family should have a trusted individual overseeing their investment interests,” stated Mack, underscoring the importance of an 'Expert Generalist' who can navigate various investment challenges. Moreover, they discussed the shift towards engendering a sustainable approach to capital by considering diverse family needs, whether they prefer holistic services or specific “a la carte” options.

The Rise of Virtual Family Offices

The discussion also navigated through the increasing prevalence of Virtual Family Offices (VFOs), especially among younger generations. Linda commented on the substantial benefits these structures offer, such as cost savings and operational flexibility. However, she cautioned that this model necessitates a strong leader who can effectively manage external partnerships.

“The coordination across various service providers is key. Someone needs to retain oversight and ensure all components are functioning in harmony,” she explained, highlighting the pivotal role of technology in either streamlining processes or complicating communication for senior leaders.

Next-Generation Engagement

As the younger generations become more involved in family office operations, challenges arise when integrating multiple generations into the experience. Linda and Brian highlighted the importance of effective communication and value transmission—particularly in an era where visibility is crucial due to social media. There are heightened concerns regarding cyber threats and physical safety, making discussions around security increasingly relevant.

“To ensure wealth transition and instill family values, communication must be ongoing and incorporate storytelling,” Linda advised, emphasizing engagement and participant interaction in shaping a shared family narrative. Brian expanded upon this idea, suggesting a need for leaders of older generations to adapt to modern communication preferences to connect efficaciously.

Preparing for Future Leadership Roles

Looking forward, Linda and Brian emphasized that the job market is evolving, with a growing demand for executives exhibiting higher emotional intelligence (EQ) alongside strategic and proactive capabilities. This shift illuminates the high value of the Expert Generalist role, along with the CFO and CIO positions, as pivotal for family offices. The perception that private enterprises contribute significantly to GDP contrasts the outdated belief that public markets are the sole mainstay of economic growth.

“Many leaders are increasingly drawn to the family office sector after becoming disenchanted with larger firms,” Brian noted, reflecting on the appeal of personalized service intrinsic to family offices.

In conclusion, Linda passionately expressed her affinity for the family office model, recognizing it as an avenue for creating job opportunities and nurturing philanthropy. “The foundation of our country was built on private family businesses. Supporting them is essential for maintaining generational wealth and community strength,” she articulated, underscoring noble aspirations behind family office services.

The full recording of the webcast, 'Secure Top Talent: 2025 Family Office Hiring Trends Unveiled', is available for viewing for those interested in a detailed exploration of these vital discussions and trends shaping the future of family offices.