A new report reveals that ultra-wealthy family offices struggle to hire and retain staff, despite high compensation. The survey of 146 family offices found that nearly 80% faced hiring difficulties, with the problem most acute among large firms managing over $1 billion. High turnover, averaging one departure every nine months in large firms, is partly attributed to a lack of long-term career opportunities and fierce competition from institutional investors. Experts suggest that improving career prospects, offering better benefits, and considering outsourcing can help address these challenges.

Prepared by Christopher Adams and reviewed by editorial team.