Family Offices: A Growing Opportunity for Emerging Managers

Emerging managers often face the challenge of growing their businesses on limited budgets, and Dakota’s Emerging Manager Growth Show is designed specifically to help. Hosted by Dakota’s CEO and Founder, Gui Costin, the show offers practical advice on how managers can do more with less. 

Each episode focuses on a different institutional channel such as RIAs, pension funds, family offices, banks and broker-dealers or consultants, and provides actionable tips on scaling, best practices, and navigating industry trends. The goal is to equip emerging managers with the tools needed to thrive in a competitive landscape.

This past October, the Emerging Manager Growth Show focused on the Family Office channel with Gui Costin and Tim Dolan sharing their insights on why the RIA space is ideal for emerging managers. They offer strategies for successful outreach, including the importance of consistency, leveraging webinars, and capitalizing on RIAs of all sizes. 

In this article, we will cover the key takeaways from October’s Emerging Manager Growth Show. By the end of this, you’ll have actionable tips to help you navigate the Family Office channel and grow your business.

Key Takeaways

1. Family Offices Present a Prime Market for Emerging Managers

Family offices have expanded rapidly, driven by the wealth generated from private equity, private credit, and other alternative investments. Many of these are first-generation family offices that are actively seeking unique and interesting investment ideas. Nearly half of family office portfolios are typically allocated to alternatives, making this a fertile space for newer managers with specialized strategies.

2. Cold Outreach is Non-Negotiable

For emerging managers, cold outreach is essential to build initial connections with family offices. Costin and Dolan stress the importance of consistency and discipline, recommending that managers send 20–25 targeted emails daily and organize outreach by city. While cold outreach can be daunting, persistence in this area can bring valuable relationships and lead to significant growth.

3. Quarterly Webinars: Strengthen Relationships and Build Trust

Consistent quarterly webinars are a cost-effective way for managers to stay engaged with clients and prospects. At Dakota, we recommend video-based webinars that provide performance updates, market insights, and showcase the faces behind the fund. This strategy helps build trust and familiarity over time. In addition, they stress the importance of using the webinars for marketing with follow-up emails, transcripts, and recaps to maximize engagement.

4. Leverage a CRM for Organization and Efficiency

A CRM system is indispensable for managing outreach and keeping track of contacts and meetings. “If it’s not in the CRM, it doesn’t exist,” Costin emphasized throughout this segment. By logging all interactions, emerging managers can streamline follow-ups, track past activities, and maintain organized records that help keep their outreach efficient and impactful.

5. In-Person Meetings Are Key to Building Stronger Connections

While virtual meetings have become more common, face-to-face interactions remain crucial. Dolan shared his experience with in-person meetings, noting that they bring stronger relationship-building results compared to virtual ones. Emerging managers should prioritize live meetings with family offices to build deeper trust and rapport.

6. Ask the Tough Questions to Gauge Interest

At the end of each meeting, Costin recommends asking two questions to determine interest and next steps:

1. “Does this strategy fit within your portfolio?”

2. “Do you anticipate conducting a search in the next 12 months?”

If the answer is positive, managers can explore specific timelines and next steps. These direct questions help clarify the potential for collaboration and ensure that any necessary follow-up is well-targeted.

7. Attend Key Conferences for Family Offices

Industry conferences remain invaluable for networking and visibility. Costin highlighted upcoming conferences such as HedgeWeek, Opel, and the SEM Consortium as ideal events for meeting family offices and building connections. Attending these events, even informally, can provide emerging managers with insight into family office preferences and expand their networks in a targeted manner.

Embrace the Opportunity in Family Offices

Family offices are a rapidly growing market segment, and emerging managers have a unique chance to make inroads by focusing on this channel. Cold outreach, consistent engagement through webinars, and a well-managed CRM can help establish a strong presence in this growing space. Costin and Dolan’s advice provides a roadmap for emerging managers eager to expand their reach and find success within the family office market.

The Emerging Manager Growth Show continues to serve as a valuable resource for emerging managers, equipping them with the tools and strategies needed to thrive. To access a detailed database of family offices and optimize your outreach, consider exploring Dakota Marketplace and taking your next steps toward growth in the family office sector.

To explore Family Offices within Dakota Marketplace, book a demo!