Old State Staffing | Family Office

Executive Assistant Talking With Principal

The Unspoken Code Between Principals and Executive Assistants

Every principal who has ever relied on a great Executive Assistant or Personal Assistant knows the relationship defies easy description. It’s part partnership, part trust fall, part choreography. When it works, a principal’s life runs with quiet precision, with meetings happening seamlessly, travel unfolding effortlessly, and days that should have felt impossible somehow flowing. Yet for all the systems and job descriptions in the world, the true secret behind a high-functioning EPA relationship lies in something less tangible: the unspoken code between principal and assistant. That code isn’t written in an employee handbook. It’s built slowly, through mutual trust, emotional intelligence, and a deep understanding of each other’s rhythms. At Old State Staffing, we’ve seen

Staffing Your Family Office: In-House vs. Outsource

When to build your dream team in-house vs. when to outsource like a pro Picture this: You’ve just set up your family office, and suddenly you’re drowning in decisions. Do you hire that expensive CFO everyone’s recommending? Should you bring tax planning in-house or stick with your longtime CPA firm? What about investment management? These aren’t just staffing decisions, but strategic choices that will determine whether your family office becomes a well-oiled wealth preservation machine or an expensive bureaucratic nightmare. Here’s what most families get wrong: they think it’s an either/or decision. Go all-in on internal staff or outsource everything to keep costs down. Both approaches usually backfire spectacularly. Why This Decision Will Make or

Do You Need a Personal Assistant?

Maintaining a high-performance lifestyle, whether you’re an entrepreneur, executive, creative, or private individual with a full plate, comes at the cost of time, focus, and peace of mind. Tasks accumulate. Priorities clash. The calendar starts to run your life instead of the other way around. That’s often the moment people start asking: “Should I hire a Personal Assistant?” Hiring a Personal Assistant (PA) prematurely, or for the wrong reasons can lead to more chaos, not less, and can turn you into a micromanager if you’re not quite at the stage where you’re ready to employ others personally yet. And waiting too long can be equally troubling. Before you make the leap, ask yourself these six

Chief of Staff Explaining Topic To Her Colleague In Office

What Does a Chief of Staff Do?

The Chief of Staff has quietly become one of the most powerful (yet misunderstood) roles in business. While the title might conjure images of military hierarchies or political offices, today’s Chiefs of Staff operate as strategic powerhouses who do far more than most people realize. Ask ten executives what a Chief of Staff actually does, and you’ll likely get ten different answers. Some view them as glorified assistants. Others see them as shadow CEOs. The reality? They’re force multipliers who amplify executive effectiveness in ways that most people don’t fully understand. What a Chief of Staff Actually Does Day-to-Day Strategic Planning and Execution Chiefs of Staff don’t just attend strategy meetings; they own the process

Build A Family Office From Scratch

Creating a family office from the ground up is one of the most personal and impactful decisions a family of wealth can make. It’s not just about managing assets; it’s about building an infrastructure to support your family’s life—its finances, values, ambitions, and legacy. And yet, for all its significance, many families begin the process without clear benchmarks, guidance, or even language for what they want the office to become. At Old State Staffing, we’ve worked inside family offices—as executive leadership, advisors, and recruitment specialists—and we’ve seen what works and what doesn’t. We’ve watched offices thrive by building slowly, intentionally, and with the right people. We’ve also seen families falter by rushing the process,

Nanny Discussing Unemployment With Family

An Unemployment Guide For Families With Nannies

When a nanny files for unemployment benefits, families often feel uncertain about how to respond. This situation is more common than you might think, and taking the right steps can alleviate concerns while ensuring you are handling the process professionally. In this guide, we’ll provide actionable steps to help your family navigate the process with confidence: Step 1: Understand Unemployment Claims Unemployment insurance provides temporary financial assistance to individuals who have lost their jobs through no fault of their own. Each state has its own rules, but the general process includes: Filing a Claim: Your former nanny submits a claim to their state’s unemployment office, including details about their employment, the reason for unemployment, and

The True Cost of Setting Up A Family Office

It was during a leisurely round on a recent summer morning that the conversation took a turn towards the financial. Just before the back nine, my business colleague, a successful entrepreneur with a growing global business, posed a question that had been weighing on his mind: “Is it worth starting a family office?” This question is becoming increasingly common as more families accumulate wealth significant enough to warrant dedicated management of their assets. The concept of a family office is not new, but its adoption is becoming more widespread, not just among the ultra-wealthy but also among the merely affluent who seek greater control over their financial affairs. Single-Family Office (SFO) A single-family office (SFO)

Weighing The Pros & Cons Of Different Family Office Structures

Managing family wealth is a complicated and building a family office is certainly one of the best ways to manage this complexity. Until recently, families have typically only started to consider a customized wealth management approach as they reach $100M in investable assets, however, with the advent of virtual and multi-family-offices, we’ve seen many more and more families start their own version of a family office to support their long-term wealth goals. The primary goal of a family office is to preserve, invest and grow a family’s wealth through public and private investments and the management of other asset classes. As anyone with significant wealth could tell you, managing this wealth in a productive and

Leading Family Office Celebrating Success

7 Habits Of Highly Effective People + How Top Family Offices Apply These Principles

The 7 Habits of Highly Effective People is a self-improvement guide by Stephen Covey that teaches you how to change your mindset and achieve personal and professional effectiveness. The 7 habits are: be proactive, begin with the end in mind, put first things first, think win/win, seek first to understand then to be understood, synergize, and sharpen the saw. In this article, we will explore how successful family offices apply these principles every day to serve high-net-worth families. Habit 1: Be Proactive Leading family offices are proactive in managing their principals’ wealth and providing them with customized services. They do not wait for problems to arise, but anticipate and prevent them. They also do not rely

5 Keys To Managing High-Net-Worth Clients

Family office management is responsible for overseeing the wealth management needs of high-net-worth (HNW) and ultra-high-net-worth (UHNW) families. These individuals deal with complex and diverse portfolios, multiple generations, and changing expectations. What Is A HNW Client? HNW clients are typically defined as accounts with over $1 million in liquid assets, excluding their primary residence. Net worth is the total value of a person’s or a family’s assets minus their liabilities. Assets include cash, investments, real estate, and other valuables. Liabilities include debts, mortgages, and other obligations. Although they only represent 1.2% of the population, HNW clients are highly sought after clients that represent an attractive and lucrative market segment for financial advisors, wealth

How To Build A High-Performing Team For Your Family Office

If you run a family office, you know how important it is to have a team of talented and dedicated professionals who can manage your wealth and affairs. But finding and keeping such talent is not easy in today’s competitive market. You need to offer more than just a salary and a bonus. You need to offer a compelling value proposition that aligns with your family’s vision, values, and goals. In this article, we’ll cover four key topics that every family office should consider when designing and implementing their talent strategy: How to define your talent needs and expectations How to attract and recruit the right talent for your family office How to retain and

How To Attract And Retain Top Talent For Your Family Office

If you run a family office, you know how important it is to have a team of qualified and loyal professionals who can manage your wealth and affairs. But finding and keeping such talent is not easy in today’s competitive market. You need to offer more than just a salary and a bonus. You need to offer a compelling value proposition that aligns with your family’s vision, values, and goals. In this article, we’ll touch on insights and best practices from Katten’s Family Office Compensation and Talent panels, which featured experts from Mack International and Botoff Consulting. We’ll also cover four key topics that every family office should consider when designing and implementing their

10 Most Common Employment Mistakes Family Office Directors Make

1. Focusing on Individual Characteristics Instead Of The Job When hiring or promoting, focus on the job that needs to be done and the person’s skills to do the job, not on a person’s individual characteristics (e.g. personality or accent). Do not discriminate on the basis of a protected category (race, color, religion, nationality, age, disability, gender, etc.) or fail to provide accommodations for a qualified person with a disability. Provide written policies and conduct training with managers and family members. 2. Allowing Potential Harassment To Go Unchecked Look for warning signs, such as employees that wish to be reassigned or who do not want to work with/for a specific person, and intervene/investigate when necessary

Challenges Facing Family Offices Of All Sizes

With at least 10,000 single-family offices in the world, half of which were formed in the last 15 years, family offices may feel like they struggle to keep with the pack. To keep pace with the increasingly complex and ever-changing tax, regulatory and accounting requirements, family offices must modernize their technology and operations. There are several challenges that family offices need to consider when choosing their operational framework: Accounting And Reporting Family offices are often managing assets that range from traditional equity to global markets to private equity to real estate holdings and fine art. While managing such a wide array of assets, managers must also maintain enough liquidity to meet demands from