Internal HR for SFOs: An Family Office Association Podcast with Lyn Christensen
Lyn Christensen Discusses Internal HR for SFOs with Angelo J. Robles
In Part I of the Family Office Association Podcast Audio Series, Angelo J. Robles is joined by Lyn Christensen as they discuss the value of internal HR for SFOs versus consultancy. You can either read the transcription or listen to the podcast and learn more about options for internal HR for SFOs.
Angelo Robles: Pleasure to have you on the call today. Lyn is really truly one of the thought leaders, great thinkers with a different perspective on the concept of culture, talent, and effectively HR services inside a single family office. When a newer family is creating an SFO, or even an existing family that may be transitioning or in a succession plan, the opportunity obviously of creating the right legal structure, accounting, technology, all things that are very important, and often overlooked and especially for larger families with great complexities.
Perhaps the most important is understanding the family’s culture and bringing on the right people using a phrase from Jim Collins the great author,
“You want to get the right people on the bus, and you want to set them in the right seat.”
So, I am always amazed, Lyn, at how many families build these amazing businesses that they put so much effort, and time, and have the best of the best, yet when it comes to their single family office, which is managing their legacy, their capital, potentially for generations to come, it does not seem to quite have that same dedication in terms of desiring to bring on the very best in talent. Do you have any opinions as to why?
Lyn Christensen: Well, in my experience, they are somewhat conflicted about staff for their personal life. When it is for their business, they are very clear, but for some reason they treat their personal lives differently. In some ways, because it is personal, it is more meaningful. It has a bigger impact on them and their families. But, I have seen that they have a tendency to shortcut the hiring process and kind of…Become a Member for Access