Starting or creating a family office
What Experience Matters Most in the First Senior Family Office Hire?
Short answer. The most useful experience is expertise that matches the office's first needs, supported by sound judgment and discretion. Clear communication with the family matters too. Define the work before choosing a résumé. A specialist who can take on related duties may be a better first hire than a generalist whose depth is unclear.
The first senior hire should have experience that meets the family office's main needs. The family needs someone who can handle defined work, earn trust, and communicate well with the people who rely on them. A strong résumé alone does not establish that fit.
Start With the Work the Office Needs Done
List responsibilities the family or existing advisers cannot handle well. These might involve financial reporting, investment oversight, administration, or coordination across entities. The right experience depends on those needs. A family focused on direct investments has different needs from one seeking better financial records and service coordination.
Decide which responsibilities belong in the first role and which can stay with outside providers. This keeps the position practical and gives candidates a clear picture of the job. The talent planning step can help connect staffing decisions to the office's operating model.
Look for Depth in a Relevant Area
In my experience, a specialist with real expertise in a needed area can grow into broader responsibilities. A generalist may sound attractive when the office is small, but broad claims do not show whether a candidate can handle the work that matters most. Ask for examples of projects the person personally completed, decisions they owned, and how they worked with other professionals.
Relevant experience can come from a family office or another setting where the candidate handled similar responsibilities. Focus on the skills and judgment the role requires; titles alone offer limited evidence. For example, experience coordinating complex reporting may matter more than an impressive title if the office's main gap is visibility across accounts and entities.
Give Trust and Communication Equal Weight
The first executive may work closely with the wealth creator and other relatives. Look for discretion and consistency, along with communication the family understands. Ask how the candidate handles confidential information and competing requests. Discuss how they address disagreements with senior people. Check references for evidence of reliability and sound judgment.
Trust does not replace technical skill, and technical skill does not guarantee a good working relationship. Set expectations for confidentiality, authority, and performance before hiring. The office fundamentals guide can help put the role in context, while the staff compensation estimator can inform planning for the position.
Match Seniority to Responsibility
A senior title should come with clear authority and accountability. Decide who the executive reports to and which decisions they can make. Set out how the family will review results. If the position is too broad to define, clarify the work before hiring. The first employee does not need to solve every office need at once.
Keep a written job description and agree on how success will be assessed. This gives the family a fair way to review performance and gives the executive a basis for prioritizing work. If legal or tax details affect the role, talk with your attorney or CPA.
In my experience, it is better to hire a specialist and gradually expand that person's role to take on more general responsibilities.
Sources: The Single Family Office. Informational only, not financial, legal or tax advice.