In light of the significant growth of existing Family Offices, the “start up” of new Family Offices and the scarcity of people with Family Office experience, compensation has become a key issue in attracting and retaining employees.
For Executives in Family Offices, the use of long-term incentives is a fast growing trend. The most common plans being implemented vary from one organization to another, however most of the plans include one of the following:
-Equity in one or more of the operating companies
-Deferred compensation plans which may vest over time
-Co-Investment opportunities
-Loans, which can be recourse or non-recourse
-Participation in deals
The most common of the plans being used is the Co-Investment opportunity.
At FON Search, we can assist with designing a customized plan for your organization. With over 30 years of experience servicing Family Offices and a staff of CPAs, we have the expertise to put together a plan that would work for your family.
For additional information on Family Office Compensation Practices and Trends, please contact: Michael Rosenblatt, President of FON Search and The Quest Organization at 212-971-0033 or via email at michael.rosenblatt@questorg.com