Family offices investing in expertise as complexity grows

Family offices are investing in expertise to ensure they keep pace with an evolving market and as they take on increasingly complex responsibilities, according to Agreus.

The consultancy noted that the quality and depth of family office teams were becoming central to long-term performance and resilience amid this rising complexity.

Family offices were found to bear little resemblance to the small and informal structures they are sometimes assumed to be, with Agreus’ research, in collaboration with KPMG Private Enterprise, showing 44 per cent had two or more locations.

Many family offices now manage multi-jurisdictional structures, oversee institutional-style portfolios, and perform functions traditionally associated with large asset managers, investment banks, and professional advisory firms, the consultancy said.

It therefore argued that investing in people had become just as important as investing capital, with the quality of a team determining whether a family office can navigate complexity, act on opportunities, and protect the family's wealth and legacy over the long term.

“This does not necessarily mean building a large internal workforce,” Agreus stated.

“It means making deliberate decisions about which capabilities need to sit in-house, which can be accessed externally and where specialist expertise is essential to the family office’s objectives.”

Those with general skill sets that cover most needs are being replaced by those with expertise in individual asset classes, with much of this being driven by where family offices are allocating capital.

Agreus identified the growing operational complexity facing family offices as the second driver.

It noted that regulatory and tax reporting requirements continued to expand, cybersecurity had become more important than ever, and more families were formalising governance and preparing for succession transitions.

This was creating demand for professionals who can build and run that infrastructure, rather than simply advise on it from the outside, the consultancy said.

“The result is a hiring market that rewards depth of expertise,” Agreus stated. “This specialist knowledge enables family offices to navigate market cycles, family transitions, and operational challenges with greater confidence while strengthening both long-term performance and organisational resilience.

“As family offices continue to evolve, talent planning needs to keep pace. The expertise required today may look very different from that needed in five or ten years, as investment priorities shift and the next generation assumes greater responsibility.

“Long-term capability planning means anticipating future skill requirements rather than reacting once gaps become apparent.

“The most successful family offices recognise that expertise is a strategic investment, rather than simply an operational cost.”

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