Hello readers,
A few weeks have passed since the previous Modus newsletter. We had a tragic death in my family and I haven't been working much. Thank you to everyone for the many kind messages and support.
I'm excited to share that Modus will be even better going forward.
Next week, if all goes according to plan, Modus is launching a new website, and you'll notice refinements to the brand everywhere you see it. Additionally, significant behind-the-scenes improvements will make the business more efficient today and lay a foundation that can support its growth well into the future.
All of this is being done to achieve one goal: Continue improving Modus journalism. The journalistic potential is huge; trusted, truly independent information for family-office professionals—not just about them—has never been more necessary, and Modus is uniquely positioned to deliver it. This is why readership has grown organically, advertisers want to sponsor the newsletter, and the business can already reinvest in itself.
Modus reached escape velocity in 2026, and surviving the perilous beginning of this journey has allowed me to breathe a small sigh of relief. But that anxiety has been replaced with a different one. There is no going back now, and no matter how confident I am in my preparation and navigation, I know the future is unknown. (I shared details about the business and the competitive landscape in my 2025 annual letter and predictions for 2026, and I'll do the same again this year.)
Not everything will be refreshed next week (updates to the technology market map and allocation index are sorely needed and in tow). And as many reading this newsletter know, no project goes exactly according to plan, especially when part of it entails a "migration." Nonetheless, I can't wait to share the updates.
Thank you for continuing to read and support Modus. Talk soon!
Mike
Founder & Editor
Modus
More News
- Modus most recently: Does AI Need a Dedicated Line Item at the Family Office?
- Stephen “Steve” Prostano, the longtime wealth-management executive and prominent industry figure who founded the UHNW Institute, died last week. He was 68.
Wallace “Wally” Head will serve as the interim board chair and CEO of the UHNW Institute until a permanent board chair and CEO is chosen.
"Despite this terrible loss of a true visionary, leader, dear friend and mentor to many of us, the Institute will continue to grow and thrive as Steve envisioned and would have expected," the institute said in a statement. - Bloomberg acquired Canoe Intelligence. In a statement about the deal, Bloomberg said Canoe processes over 1.5 million documents per month across more than 44,000 funds, and send insights to over 500 clients tending to more than $11 trillion in some way. Institutional investors, fund servicers, wealth managers, and family offices use the software.
- Masttro debuted its Cash Projection Hub, making it the latest firm trying to help limited partners figure out when GPs will want the money they were promised, and when they will (hopefully) give more money back.
- Asset Vantage named Nicole Eberhardt its new global CEO. She was previously the managing director of North America at the data, accounting, investment reporting, and analytics firm that counts over 400 family offices as clients. Eberhardt started her new job on August 1 and will "lead the company's next phase of global growth, product innovation, and market expansion," the firm said.
- Arch put out a somewhat thirsty press release to say there's more than $500 billion in assets on its platform and to reveal more participants in its $52 million Series B round: MUFG Innovation Partners, Franklin Templeton and Anton Levy, the founder of Layer Global, who is on the board of Warner Bros. Discovery and previously spent decades at General Atlantic.
- A wave of family offices have arrived in Miami, and that won't shock any Modus readers. Wealthy people have always decamped for Florida, and financial services firms have a growing presence there. Billionaires weren't going to move to the Sunshine State and leave their personal investment and services people behind...
- This should make all of us sad: Female-owned businesses are less likely to emerge from bankruptcy, study finds.
- Gross: A review of almost 12,000 comments in favor of the Trump administration’s proposed 401(k)rule found submissions in the names of dead people.
- On a lighter note: ROCK, Dan and Jennifer Gilbert's family office that oversees 100+ entities, built a cool new office.
- Confessions of a former star M&A reporter.
Jobs
- The Dalio Family Office is hiring an AI governance engineer in Westport, Connecticut. This person needs to know their way around AI security, agentic AI architectures, Microsoft Purview, AI risk frameworks, and automation technologies, and must be able to communicate and advise engineers and board members alike. "This is a unique opportunity to build the governance foundation that enables safe and aggressive AI adoption across a dynamic global organization."
- Aleta is hiring an implementation and client delivery manager in North America. Salary is $115,000 and it's a remote job (but proximity to New York City would be nice, they say).
- 10 East is hiring a senior investment professional in New York City.
- Here’s one you don't see often. Recruitment firm Stryde Search is helping a single-family office in Chicago hire a full-time managing director of family engagement and learning. In case the title didn’t already make it clear: This is the office of a large, multi-generational clan. They want someone who can build and lead a team that will be best-in-class at relationship-building and navigating their complexity, with the utmost discretion.
This person will be expected in the office four days per week, something “non-negotiable.” Salary is $400,000 plus a bonus and other benefits.
Send your resume to Katherine Travell: kt@strydesearch.com. - If you prefer New York City over Chicago, you can apply to be the head of next-generation strategy and engagement at J.P. Morgan Private Bank. It pays nearly as much: $350,000.
- Recruiting firm Agreus is helping a single-family office in New York City find a chief legal and administrative officer. They want "someone who likes to build and solve problems, and who is energized by creating infrastructure rather than simply administering it."
- Mack International is helping a single-family office in El Paso, Texas, hire a president, and another single-family office in Seattle, Washington, hire a CEO.
- Recruiter Charlie Hill is helping a family find a CEO to help build its single-family office in Barcelona. If you have the necessary experience and are fluent in both Spanish and English (and love good food, nightlife, architecture, etc.), email Hill: charlie@acheiveprofessionals.com.
Other Stuff
- Modus is co-hosting two events for single-family offices in September in New York City. One is focused on managing investments in early-stage startups and liquidity, and the other on investments in entertainment companies and funds. Details coming next week, but email me if you want to learn more.
- Follow Modus on LinkedIn.
2,200+ people can't be wrong about something.It only posts newsletters you might have missed and other worthwhile updates. - The best newsletters and articles usually start with news tips. You can do this anonymously and in confidence by replying to this email or messaging me on Signal using a personal device that your employer cannot access: +1 330-962-6441.
- Want to reach thousands of family-office professionals and support the only independent journalism dedicated to them?
Consider sponsoring the Modus newsletter. Fill out this form for the new media kit. (Do this now and you'll get a sneak peek of the brand's updates!)
I will...
- Be hanging around New York City during the coming weeks.
- Not be in Switzerland as planned this month. But I'm always looking for reasons to go to Geneva again and will get back there sometime. (And somehow it often "makes sense" to fly in or out of Paris and take the train there, according to my wife. Whoever can explain that one to me, you have my email!)
