September 29, 2025

The Talent Dilemma

Why the Advisor Shortage is the Next Family Office Crisis

Executive Summary

Family offices today are flush with capital, but short on people. As portfolios grow more complex, the demand for skilled advisors—chief investment officers, ESG specialists, and cross-border dealmakers—is far outpacing supply. McKinsey warns of a looming wealth advisor shortage in the U.S., while UBS reports that families are managing more asset classes and external relationships than ever before.

This article argues that the real constraint on legacy is not money, but human capital and the trusted connectivity that gives families access to talent, deals, and knowledge. In an era defined by scarcity of expertise, families who remain isolated risk falling behind.

The Premise

In the past, families relied on a single trusted consigliere to manage wealth. That model no longer fits. Today’s landscape—defined by alternatives, private markets, sustainability, and global complexity—requires teams, networks, and interdisciplinary expertise.

The scarcest resource in 2025 is not capital. It is people who can be trusted to steward it, and the circles of connectivity that allow families to share knowledge and access opportunities.

Why It Matters

  • Advisor shortage: McKinsey (2024) projects that wealth management in the U.S. will face a shortfall of tens of thousands of advisors by 2030, with similar pressures in Europe and Latin America.
  • Growing complexity: According to UBS’s Global Family Office Report 2025, most family offices now manage seven or more asset classes and engage with 10+ external partners, making talent coordination essential.
  • Next-gen expectations: Younger heirs demand expertise in ESG, impact, and AI-enabled investing, skills that many traditional advisors do not yet offer.
  • Regional gap: Latin America’s rapid growth in family offices has outpaced the availability of specialized CIOs and ESG experts, leading families to recruit abroad or rely more heavily on trusted networks for deal flow and advisory capacity.
  • Operational risk: BNY Mellon (2025) warns that family offices risk governance failure if talent pipelines and succession planning are not addressed.

What We’re Seeing

Talent scarcity across roles

  • Private markets: Specialists in private equity, private credit, and infrastructure are in short supply as allocations increase globally.
  • Impact & ESG expertise: Families want to align capital with sustainability, but credible advisors who can measure and report outcomes remain limited.
  • Hybrid skillsets: Today’s CIO must combine finance, data fluency, geopolitical awareness, and generational diplomacy.

Regional mismatches

  • Latin America and Asia are seeing some of the fastest family office growth, but local talent pipelines remain shallow compared to Europe and North America. Families are increasingly relying on networks of peers to co-source trusted advisors and share due diligence insights.

The role of connectivity

  • Trusted circles are emerging as a counterbalance to the shortage. Families embedded in such ecosystems gain shared access to advisors, co-investment opportunities, and intelligence. Those who remain siloed face higher costs, slower learning, and missed opportunities.

    The Shift

    The crisis of talent is forcing a new model of wealth stewardship:

    From one consigliere → to multidisciplinary teams. Families can no longer rely on a single trusted advisor; they require layered expertise.

    From secrecy → to selective visibility. Families must share enough to attract talent and engage in circles of trust.

    From transactional advice → to ecosystems. Advisors are no longer one-off providers but participants in broader, connected systems of knowledge, governance, and co-investment.

    From static roles → to blended tech + human models. While AI and data analytics are improving investment analysis and reporting, they cannot replace judgment, relationships, or cultural fluency.

    What Families Can Do Now

    1. Audit human capital needs — Map existing advisors against future strategic goals (impact, tech, cross-border).
    2. Engage the next generation early — Train heirs in governance, connect them with peers, and build continuity in leadership.
    3. Leverage trusted circles — Join curated ecosystems where families can share talent, due diligence, and deal flow.
    4. Look across industries — Recruit from technology, consulting, and sustainability sectors to diversify perspectives.
    5. Prioritize diversity and inclusion — Broaden leadership pipelines by welcoming women, next-gen voices, and advisors from non-traditional backgrounds, which strengthens resilience and decision-making.

    Closing Reflection

    The next family office crisis won’t be driven by market volatility but by the scarcity of people capable of navigating it. Families who invest in talent, embrace diversity, and surround themselves with trusted networks will not only protect capital but also build the human infrastructure of their legacy.

    Sources & References

    Disclosure: This article is published by NURA for informational purposes only. It is not intended as investment, legal, or tax advice. Readers should seek independent professional guidance before making financial decisions.