Date: Aug 10 2023
In this episode, I have the pleasure of speaking with Leslie Voth, Chairman, Chief Executive Officer & President of Pitcairn. Leslie has been with Pitcairn for 30 years, serving in a variety of leadership roles, and is the first chairman of the board who is not part of the Pitcairn family. She is a prominent senior executive and thought leader in the multifamily-office (MFO) industry.
Leslie shares the story of Pitcairn, which this year celebrates its 100th anniversary, and its evolution from a firm initially established to serve the needs of one family to its status today as a premier player in the fast-evolving MFO space. We discuss the factors that enabled Pitcairn’s continued presence and enduring relevance as a top MFO, and Leslie offers her thoughts on the on the formula for MFO longevity and enduring success.
As the MFO model continues to gain popularity among private wealth clients and companies in this space experience growing interest from families, Leslie offers her perspective on the challenges and opportunities faced by many firms established in this segment as well as those that are transitioning into the MFO model. We talk about growing and developing scarce human capital, building a sustainable and profitable business model and pricing structures, and nurturing an ecosystem of specialized and reputable partners to meet the increasingly complex and niche needs of enterprise families.
Leslie and I also discuss what families need to know and what parameters to evaluate as many of them consider whether to build their own single-family office or outsource their service needs to an established and capable MFO.
Please enjoy this illuminating conversation with one of the most distinguished CEOs in our industry, who is successfully leading one of the most storied MFO brands into its second century of success and prominence.