The Family Office Gold Rush: The Rising Trend of Family Office Conferences
The family office world has experienced a notable resurgence, capturing the attention of the affluent in today’s financial landscape. As the wealth of the rich continues to grow, family offices have emerged as a prominent player, with approximately 8,000 worldwide managing a staggering sum of $3.1 trillion in assets, as reported by Deloitte. The increased prevalence of family offices has given rise to a surge in family office-related events and conferences, reflecting the surging interest in this sector.
Family office events have become a hot commodity, drawing in a sizeable audience eager to tap into the vast capital pool that family offices represent. Dakota Marketplace, an investment sales professional research firm, disclosed that there were 123 family office conferences in 2024, with an even more significant number of 244 scheduled for this year, showcasing the growing enthusiasm for such events. The allure of these gatherings lies in the opportunity for families to engage in meaningful dialogues, exchange experiences, and explore shared challenges and opportunities.
The Diverse Landscape of Family Office Conferences
Paul Carbone, the co-founder and vice chairman of Pritzker Private Capital, has shed light on the various categories of family office events, ranging from commercial conferences to gatherings organized by major institutions and families themselves. Carbone emphasized the immense potential for capital users to tap into the substantial resources within the family office space, underscoring the mutual benefits that can arise from such collaborations.
Raphael “Raffi” Amit, a professor of management at the Wharton School at the University of Pennsylvania, has been a firsthand witness to the momentum surrounding family office gatherings. The Wharton Global Family Alliance, spearheaded by Amit, has been hosting intimate family office conferences for over two decades, catering to a select group of 60 participants from family offices. Amit highlighted the distinct nature of Wharton’s conferences, which are free from sponsorships and vendors, in contrast to the majority of family office events that tend to be sponsor-dominated.
Anthony Ritossa: The Return of a Controversial Figure
Anthony Ritossa, a prominent figure in European and Middle East family office circles, has recently made a comeback with the 24th Annual Global Family Office Investment Summit in Miami. Ritossa, known for hosting conferences tailored to family offices and investors, has been the subject of scrutiny following a Vanity Fair article in 2022 that raised concerns about his credentials and business practices. Despite the controversy, Ritossa’s latest summit series in Dubai garnered attention from notable figures, including sheikhs and the CEO of Raffles Family Office, Chi-man Kwan.
The Miami summit, boasting a guest list of over 250 high-net-worth individuals, family offices, and members of Middle East royalty, presented a diverse lineup of 148 speakers and honored guests from various industries. Among the notable attendees was Miami Mayor Francis Suarez, who participated in a fireside chat. While Ritossa’s reputation has been marred by past controversies, the allure of the conference remains anchored in the high-profile guests and networking opportunities it offers to attendees.
In the family office realm, the significance of events often lies in the caliber of attendees rather than the organizers themselves. Jonathan Zaback, co-founder of Impact Partners, a public relations firm representing summit speakers, emphasized the importance of networking and social connections within the family office community. These events serve as a rare occasion for families to come together, interact, and forge meaningful relationships, underscoring the value of community and collaboration in the family office landscape.
As the family office gold rush continues to captivate the financial elite, the landscape of family office conferences remains dynamic and evolving, reflecting the changing needs and interests of this exclusive community. Despite the controversies and challenges that may arise, the allure of these events lies in the valuable connections, insights, and opportunities they offer to attendees, shaping the future of family office engagement in the global financial sphere.
