Amy Stewart on Next-Gen Leadership at Family Office Summit

Amy recently joined a panel at the Family Office Summit in Dubai to discuss how next-gen leaders are reshaping family offices. The panel explored how family offices are undergoing a transformation to adapt to a changing world as the next generation are stepping into leadership roles. Discussions covered how younger leaders are redefining the purpose, structure, and strategies of their family offices to ensure long-term success and relevance.

Amy touched on some of the challenges that the next generation face when stepping into leadership roles, how innovation can complement long-standing traditions, and ways different generations can collaborate effectively. Her topics are summarised below.

Challenges for Next-Gen Leaders

Stepping into leadership comes with unique hurdles, from managing family dynamics and intra-sibling challenges to bridging the cultural gap between conservative elders and adventurous younger generations. Amy emphasised the benefits of next-gen leaders building their own advisory network, including wealth managers, tax advisors, and legal experts, to gain credibility and confidence rather than using the same professionals that their parents have leant on and have historic relationships with.

Balancing Tradition and Innovation

While traditions play a vital role in family offices, Amy encouraged embracing entrepreneurial thinking and open dialogue between generations. Governance structures, like family councils, help ensure structured decision-making while allowing room for modernisation.

The Role of Technology

Technology is transforming family offices by enhancing transparency, governance, and efficiency. Real-time reporting offers a clearer picture of wealth, while video calls improve communication and decision-making when family members are located in different geographical locations. Amy also stressed the importance of cybersecurity in today’s world, advocating for multi-factor authentication and end-to-end encryption.

Fostering Multi-Generational Collaboration

For different generations to work together effectively, Amy suggested giving next-gen leaders real responsibilities and exposure to key meetings early on. Allowing room for small mistakes helps them learn and grow into their roles while ensuring a smoother transition for the future.

Amy’s insights provided a fresh perspective on how family offices can evolve while preserving their legacy.

Disclaimer:

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VAR Capital is an independent financial services firm offering asset management, lending and family office services. It was founded by individuals with extensive experience from Banking, Asset Management and Family Offices. Based in Mayfair, London, VAR Capital Ltd is authorised and regulated by the Financial Conduct Authority (FCA).

Source: VAR Capital

Media Contact: Vikash Gupta, vikash@varcapital.co.uk