Linda Mack of Mack International was invited to speak on Family Office Recruiting at Deloitte’s Family Office Forum held in Chicago, May 9, 2024

 

Linda Mack of Mack International was invited to speak on Recruiting Trends, Challenges and Best Practices at Deloitte’s Family Office Forum held in ChicagoMay 9, 2024

 

WEST PALM BEACH, Fla., June 4, 2024  — Linda Mack of Mack International was invited to speak on Recruiting Trends, Challenges and Best Practices at Deloitte’s Family Office Forum held in Chicago, May 9, 2024. Linda focused on key trends Mack International is seeing in the market, a proven process to ensure success in attracting and retaining C-suite leadership, and best practices in addressing challenges facing Family Offices. Linda also described the key aspects of the Family Office of the future.

Given the competitive and challenging landscape family offices are facing, it is imperative that families follow a strategic and comprehensive process.

 

Following is a brief synopsis of the discussion points.

Trends:

 

  • “An increasingly competitive market and increased access to information are requiring family offices and family investment firms to implement more formalized, clearly defined strategies in recruiting, retaining, and compensating key talent .”

 

  • “Effective succession planning for all leadership roles is extremely important to ensure orderly transitions for future success and sustainability of the family and the family office. Across the market we are seeing executives retiring after leading their offices for 15 years or longer seeking their successors as well as transitions within family leadership to the next generation.”

 

Recruiting Five-step proven process to consistently attract and retain C-suite leadership:

 

  • Linda detailed the Best Practice Five-Step Proven Process to consistently attract and retain C-suite leadership. “Given the competitive and challenging landscape family offices are facing, it is imperative that families follow a strategic and comprehensive process, so they can hire and retain the best talent to meet their needs and accomplish their objectives..”

 

  • “While the majority of offices are looking for someone with the requisite skills and experience for the position, culture fit with the family is critical for future success. Most family offices seek long term relationships with their executives spanning 10-15 years or longer. Leaders who align with a family office culture are poised to shape and set the stage for future generations. Success requires the right process.”

 

Office of the future/Leaders of the future

 

  • “The family office of the future is very different than the traditional family office model from the past. It is proactive, strategic and continuously strengthens its value proposition to its family clients. It leverages technology for both efficiency and effectiveness. The focus is on value-added ROI.”

 

  • “Future leaders will be “expert generalists” who not only have knowledge across the horizontal spectrum of wealth management functional areas but also understand the interconnectivity between each. Nothing happens in isolation and each decision has implications across multiple disciplines. It is important to identify candidates with both high IQ and high EQ. Strong business acumen, critical thinking, and a strategic approach to issues will be necessary. But so are key personal attributes. Leaders of the future will inspire their teams, fostering meaningful collaboration and trust.”

 

About Mack International LLC
Mack International is the premier boutique firm that specializes in providing retained C-suite executive search and strategic human capital consulting solutions to family office, investment firm and enterprise clients on a national and international basis. Clients range from first generation business enterprise owning wealth creators through multi-generational families of six or more generations. Headquartered in West Palm Beach, Florida, clients also include multi-client family offices and select investment and wealth management firms that serve family offices and ultra-high net worth clients. In addition to its executive search services, Mack International provides customized strategic human capital/talent management consulting solutions. The scope of consulting services includes succession planning, governance, next generation engagement, compensation practices, and performance metrics.