What is the role of a Chief of Staff?

The role of a Chief of Staff for a Family Office is multifaceted, involving strategic oversight, operational management, and personal support to ensure the smooth running of the office and effective management of the family’s affairs.

A primary responsibility is to act as a key advisor to the family and the office’s senior management. This involves recommendations on strategic initiatives around wealth, investments, philanthropy, consistently ensuring they align with the family’s goals and objectives.

Operational management is another critical element of the role, along with team leadership and personal support for family members, such as managing their schedules, travel arrangements, and personal projects. The Chief of Staff must act as a primary point of contact between the family, the family office, and external parties (e.g., tax, financial, and legal advisors), always ensuring smooth and effective communication.

A Chief of Staff will be expected to be highly proficient in budget management, financial reporting, and investment oversight, coordinating with investment advisors and managers to ensure the family’s strategy is properly executed and identifying potential risks as they arise. They will also establish and maintain governance structures that align with the family’s values.

Overall, the Chief of Staff plays a critical role in ensuring the family’s wealth, personal affairs and business interests are managed efficiently and effectively, providing both strategic guidance and operational support.

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What is the role of a Chief of Staff?