As an employer, family offices can offer capable professionals golden opportunities

What are family offices and what opportunities do they offer to capable professionals?

Simply put, a family office is a company engaged in the management of assets and investments of very wealthy people and their family members, the purpose of which is to ensure the preservation and upbringing of family members’ assets for generations. There are those that also provide a wider spectrum of services to family members. As a rule, the financial capital of a company when investing is the family’s own assets, which are invested in different asset classes, business projects, etc., based on the agreed strategy and goals.  It has been pointed out that in the West, the volume of assets invested in family offices starts from 50-100 million dollars.

There are understandably few family office type asset management companies in Estonia. At the same time there are individual entrepreneurs in Estonia who have had the opportunity to accumulate enough assets through successful business activities and who are interested in preserving and growing it for generations.

Not much is known about family offices in Estonia for the general public. Several of them have also deliberately kept a low profile. In Estonia, separate service providers have also emerged who, on the principle of family office, offer asset management services to different families (the so-called multi-family office).

As a rule, family offices are not large organizations in terms of the number of employees. The core of the company is made up of high performing professionals in their field, who have business and investment success stories and a good reputation from their previous careers. Support services are often outsourced rather than hired staff.

Family members generally have quite specific expectations about the performance of their portfolio, and job wins are generally quick to share with teams. This gives capable people the opportunity to significantly increase their incomes.

Family office teams are rather small in Estonia. As an employer, they offer the opportunity to work with absolute professionals in their field, a working environment with short decision-making chains and a reasonable amount of formalities. Family offices are suitable for capable people with an entrepreneurial nature, who are motivated by the opportunity to increase their income if they make a successful contribution.