How can I start a family office career?

How can I start a family office career?

by Richard C. Wilson & Family Offices Group Association Team

Question: How can I start a family office career?

Answer: If you are looking to start a family office career, you’re on your way by reading the free educational articles on this website as education is a key to climbing your way toward a family office career.  Once you have learned what a family office is and how family offices operate, you should focus your learning on understanding what a family office professional’s day-to-day is like (perhaps you can reach out to someone in the family office industry to mentor you, or set up an internship at a family office).  This will help you decide whether a family office career is really what you want.

Figuring out whether a family office career is your best route is key to launching a successful family office career.  For instance, if you come from a sales position then you might be used to a more commission-based compensation structure that is based on your ability to sell products or services to as many people as possible; whereas a family office professional’s role is usually more focused on satisfying their clients and providing them with the services that best fit them, rather than selling as many services as possible and cashing in on the commission for these sales.  You may respond better to this compensation structure and it may fit your skills better than a family office career would.  Understanding your talents and how they would transfer to the family office industry is an essential aspect of starting a family office career.

Another step to starting a family office career is developing a diverse resume that applies well to the family office career you’d like to pursue.  For example, if you would like to focus your family office career on portfolio management and investing then you should be an expert in what family offices invest in.  Imagine that you apply to a position as chief investment officer of a multi-family office and the CEO interviewing you asks you whether you have any relevant experience in hedge funds, or real estate, or private equity, or currency trading, or fund manager due diligence.  You need to be prepared for the family office career you want and that means not cutting any corners and building a resume that will make you instantly valuable to any family office that hires you or to your family office clients if you are starting a family office.

Your final step is to apply to family offices that you want to work for and to follow-up on those leads diligently.  Family offices are ran by busy executives and unless you present yourself well and frequently, your chances of landing a family office job are slim to none.

Download our free Family Office Report to learn more about the family office industry.

Read more Frequently Asked Family Office Questions.

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