By Jennifer McCauley, Associate, Tax & Family Office at Landing Point
Understanding the Industry
For many professionals, the term “family office” can initially feel unclear. Unlike more traditional sectors within tax, finance, and accounting, the family office industry operates with fewer standardized definitions. As a result, candidates are often unsure what these organizations actually do, or what working in one looks like.
Family offices play a critical role in managing the financial lives of high-net-worth individuals and families, overseeing everything from investments and real estate portfolios to tax planning, operations, and long-term wealth strategy.
Because much of this work happens behind the scenes, and these high-net-worth individuals are often extremely private, family offices are not always recognized as a career path—even though they offer unique opportunities for professionals across accounting, finance, tax, and operations.
Watch: What Is a Family Office?
In this video, Jennifer McCauley, Associate on Landing Point’s Tax & Family Office team, breaks down what a family office is, how they operate, and why the industry is far more diverse than many candidates realize.
[Jennifer McCauley, Associate on Landing Point’s Tax & Family Office team, explains what a family office is and how the industry supports high-net-worth individuals and families.]
Key Takeaways
- A family office exists to manage the financial life of a high-net-worth individual or family.
- These organizations handle everything from investments and real estate to tax strategy, operations, and lifestyle assets.
- No two family offices are the same. Their structure, pace, and culture can vary widely.
- The two most common structures are single-family offices and multi-family offices.
The Two Types of Family Offices
Single-Family Offices
Single-family offices are established to serve one individual or family and often bring core financial functions like accounting, finance, and operations in-house. These environments can feel similar to working for a privately held business where the team is focused on supporting a single principal or family.
Multi-Family Offices
Multi-family offices provide similar services but across multiple families who share the same infrastructure and advisory resources. These firms tend to operate more like boutique financial services organizations, where professionals manage relationships and deliver strategic guidance to a group of clients.
Why Is the Industry Often Overlooked?
The family office industry is unique because every organization is built around the specific needs of the family it serves. Some oversee complex investment portfolios and operating businesses, while others manage lifestyle assets such as aircraft, yachts, or sports teams.
Because of this diversity and the private nature of the work, many accounting and finance professionals are not exposed to family offices early in their careers. At the same time, complexity and personalization create incredibly interesting roles for professionals who enjoy variety, discretion, and working closely with decision-makers.
How Landing Point Supports the Family Office Market
While many recruiting firms focus broadly on financial services, few specialize in the family office space. At Landing Point, our Tax & Family Office recruitment team works closely with both candidates and organizations within this niche industry.
We’ve built career-long relationships with Tax Directors, CFOs, Controllers, and other accounting professionals that are adept at handling the complexities associated with wealth management, multi-generational relationships, and unique family dynamics.
Because we understand the nuances between different family office structures, cultures, and hiring needs, we help professionals navigate opportunities that align with their long-term career goals.
If you’re interested in learning more about the family office industry or exploring opportunities within it, connect with us.
Transcript
Jennifer McCauley:
When candidates hear the term family office, it can sometimes sound a little bit unclear or vague. So let’s break it down. A family office exists solely to support the financial management of a high-net-worth individual or their family. Its purpose is to support both the short-term and long-term financial needs and everything that a high-net-worth individual has going on.
From operating partnerships to real estate portfolios, investments, yachts, helicopters, other aircraft, or even sports teams. No two family offices are the same—they’re as unique as we are as individuals. Because of that complexity, they vary in size, structure, responsibility, culture, pace, and expectation.
The two most common types of family offices that you’ll hear are single-family offices and multi-family offices. Single-family offices exist when an individual has accumulated enough wealth or complexity that it makes sense to bring the talent in-house. This means bringing accounting, finance, operations, and other functions together to support that individual or family.
A multi-family office is when multiple individuals come together and share family office resources. When you hear the term family office, think of it as a hub that keeps a family’s entire financial world running. Working at a multi-family office can often feel like working at a boutique small business, while working at a single-family office can feel more like supporting a privately held company focused on one individual or family.
About Jennifer McCauley
Jennifer McCauley is an Associate on Landing Point’s Tax & Family Office division. Prior to joining the firm, she spent 6 years in PwC’s Wealth Management Tax Services practice, with additional experience supporting corporate tax engagements in the pharmaceutical industry. Jennifer holds a Master of Taxation degree from Arizona State University and a Bachelor of Music in Music Education from the University of Arizona, highlighting her diverse background and creative spirit. Originally from the Chicago suburbs and raised in Arizona, Jennifer loves live music, hiking, the Chicago Cubs, spending quality time with loved ones, and all things New York City.