Family office conferences overwhelm as wealthy seek investment opportunities

In recent years, the popularity of family offices has surged globally, with an estimated 8,000 family offices managing about $3.1 trillion in assets. This increasing interest has sparked a significant rise in conferences specifically catered to family offices. In 2024, there were 123 such gatherings, but projections for this year showed an almost doubled schedule with 244 events planned. Industry experts, such as Paul Carbone, co-founder of Pritzker Private Capital, highlight the rapid growth and appeal of this financial sector, noting that family offices represent a significant pool of capital that draws attention from various sponsors. These conferences vary widely in format and purpose, categorized into commercial events, institution-sponsored gatherings, family-organized meetings, and academic sessions. For instance, gatherings organized by Wharton are designed to maintain an intimate atmosphere with a cap of 60 participants, allowing for more focused discussions and networking opportunities among family members without commercial distractions. However, the phenomenon of family-office conferences also poses challenges, particularly concerning sponsors and vendors. Reports surfaced about the 24th Annual Global Family Office Investment Summit held in Miami, where the host, a former hedge-fund salesman named Ritossa, was criticized for his questionable past and high charges for sponsors. Attendees expressed concerns about the commercialization of these events, as many families preferred to avoid vendor pitches in favor of genuine interactions with peers. Ritossa, despite allegations made against him regarding misrepresentation, reportedly aimed to attract wealthy individuals, including sheikhs and high-net-worth families, through his conference. The Miami event highlighted a broader trend where family offices seek connections and knowledge-sharing opportunities, often valuing the presence and reputation of fellow attendees over the conference experience itself. This shift marks a significant evolution in how families approach investment decisions and relationships within their sphere. As the appetites for sophisticated networking and investment strategies grow, the landscape of family office conferences is likely to be reshaped further, driving organizers and sponsors to better tailor their offerings to this elite clientele.