A few minutes ago, Modus finally published v3 of its Family Office Technology Map. The update includes three more categories and 20 additional companies, which means there are now a total of eight categories and nearly 50 companies.
If you thought 50 sounded like a lot, I have some news for you: It's less than half the number there could be.
More than one generous reader has shared their personal Excel doc they use to track over 100 different software and services used by family offices. Many of the companies aren't on the Modus map because it lacks a category for them, at least as of today.
The map, remember, is not an endorsement of these companies by Modus, and companies will never pay to be part of the map. Any software or service that claims to work with single-family offices will be considered.
It's best to think of the map as a living document. It might always be imperfect, but as long as it continues to evolve, it should have some utility to the family offices, consultants, investors in the companies on the map, and other stakeholders.
I hope you'll check out the latest Modus Family Office Technology Map and continue to share suggestions about companies, categories, the design, or functionality. To do that, reply to this email.
Until then, there's a ton of other family-office-related news and jobs below.
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More News
- “You’ve Got Mail” is a family-office movie. Should Modus host a watch party this fall and then attendees can drink, mingle and discuss?
- RSM and Cornell University have partnered to create a Family Office Advanced Leadership Program, which sounds a lot like an MBA but is way cheaper ($26,000): “This immersive program is designed to set you on the right path—strengthening your leadership capabilities, sharpening your governance strategies and deepening your understanding of complex family dynamics. Over 18 months, you’ll participate in four in-person sessions at Cornell University’s Tech Campus in New York City—guided by professionals with leading experience in family enterprise, communication and intergenerational strategy.”
- Is there a conflict of interest when a family-office executive is also a trustee? Kirby Rosplock’s recent straw poll on LinkedIn suggests the answer is “no.” Read the takes and discuss further here.
- My Friend Is Trying to Convert Me Into a Client. What to Do?
- Mutual Fund Titans Plowed Into Private Markets. It Isn’t Working.
- This week in absurdity: Six-layer SPVs are apparently a thing now. Why? Probably because if someone can create a vehicle, attract investors and charge them fees, they often do that. But more importantly, a six-layer SPV is yet another consequence of the evolution of private markets. Fast-growing private companies no longer need to go public to create liquidity or raise capital, as those things have become far easier. For a good conversation about this, watch or listen to the first episode of The Investment Office (YouTube, Apple or Spotify), a new program by Ivy Invest Co-Founders Wendy Li and Matt Pauker.
- Ray Dalio has taken over running investments at his family office. “I want to make sure my family office is really strong…I’m the guy who the buck stops with, at least for now,” Dalio told Bloomberg News.
- My former Institutional Investor colleague, Michelle Celarier, profiled Dmitry Balyasny, the founder of Balyasny Asset Management, also known as BAM. Balyasny has become known for his people skills that have made him one of the most effective and popular leaders in an industry known for ruthlessness. And it’s helping BAM win a talent war among its multistrategy rivals; five of the eight members of BAM’s current investment committee previously worked at Millennium, Citadel, or Point72.
- The Commerce Secretary, a Gilded Hotel and Claims of a Secret Plan.
- Carlin Calcaterra joined Pitcairn as a managing director of investment strategy. She was previously a managing director and the co-head of the financial advisor solutions team at Ares Management, and worked in the OCIO businesses at Mercer and Goldman Sachs.
- Cheating scandal rocks world stone skimming championships.
- America Loves Cocaine Again is an amazing Wall Street Journal headline. But did we (I say this as an American; I don’t do coke) ever really fall out of love with the white stuff? Australia and New Zealand have the highest per-capita cocaine consumption, but the Americas are not far behind. At their respective user rates, there are roughly 990,000 cocaine users in Australia and New Zealand and 10.2 million in the U.S.
Jobs
- The family office of Antanas Guoga, a Lithuanian-Australian entrepreneur, professional poker player, and politician, is hiring a chief investment officer. Ideally, the CIO of this newly formed office will have at least 15 years of experience managing a portfolio with all asset classes and be based in Dubai (although the office would consider allowing someone to work remotely).
- Sam Levens, the CIO of a recently formed single-family office in Houston, Texas, is hiring an associate-level investment analyst. This person will work directly with Levens on sourcing and investment underwriting. “Stone Garden has a strong focus on private market investing, with an initial emphasis on applying a data-focused approach to fund investments, co-investments, GP Stakes, and secondary investments. SGG will also maintain the flexibility to pursue opportunistic direct and public market investments as opportunities arise,” according to the job posting.
- Craig DeLucia, CEO at Broward Grove, is hiring for three open roles: a tax professional (with experience preparing tax returns and planning for individuals, trusts, and partnerships), an accounting manager (a good bookkeeper familiar with QuickBooks, financial modeling, billpay and checkwriting for operating entities and foundations, etc.), and someone to manage financial reporting (investment performance and monitoring, as well as other financial reports).
- In Greenwich, Connecticut, a family office and its affiliated investment firm are hiring a tax manager. This person will be responsible for the usual: complex tax allocations and securities adjustments for hedge and private equity funds, including 704(c)/(b) allocations, PE tax waterfalls, wash sales, and “stuffing” (which, I think we can safely assume, is referring to the cash variety, not the quote). The job pays $165,000 per year.
- A London-based family office managing over $1 billion in assets is adding a fund research and external manager professional to join its allocations team. The new hire will focus on a global absolute return and alternative credit mandates.
- Stryde Search is helping a multifamily office in Boston, Massachusetts, add a director-level professional to its family-office advisory team.
- Aleta, an investment reporting software company, wants a senior software developer to join its team in New York.
Other Stuff
- 1,600+ people follow Modus on LinkedIn.
- Modus is on X, but is anyone else in the family-office world?
- Modus also has an Instagram (@modus.news) — if the account gets 100 followers, I’ll put some effort into that and start posting…
- What makes a good news tip? Documentation and other things (think: court documents, corporate communication, emails). If you think something is newsworthy and want to read more about it, chances are that Modus and other readers do, too.
- Share information with me in confidence by replying to this email or messaging me on Signal at +1 330-962-6441.
I'll be in...
- New York City.
- Chicago, the week of October 27, for IceMiller’s Family Office Private Capital Forum. If you work for a family office and would like to attend, apply here. If it’s full, you should still apply and get on the list for next year.
