The family office space has grown significantly in Canada over the past decade. This growth has attracted the attention of investment managers not only from this country but from around the world as well.
Having founded a boutique family office, and as its chief investment officer, I appreciate the challenges of being an allocator. There have been weeks when I received meeting requests well into the double digits. It was difficult to devote the time necessary to fully digest the information provided.
Over time, however, I managed to develop ways to receive and keep track of information more efficiently while also determining a few things that investment managers can do to improve their chances of consideration.
Investment managers naturally want to grow their asset base. But many family office professionals have their own priorities, as well. They likely have spent time focusing on governance and tax structures, and, if time has allowed, put in place an overall investment strategy, including an investment policy statement and due diligence process.
It can be difficult to handle the constant flow of unsolicited requests—whether by phone, email or LinkedIn—from the thousands of investment managers out there if a strong foundation is not in place. Once your investment strategies and due diligence processes are established, it gets easier.
Most family office CIOs choose managers they are already familiar with. Historically they have invested by referral, but that is changing as more managers have established a presence in Canada and the number of options has expanded.
Here are a few steps that both sides can take to smooth the process and make everyone’s lives a bit easier.
For family offices
Acknowledge: A simple acknowledgment of an email solicitation can save your inbox. Thank the investment manager for the submitted information and note that:
- You are not allocating to that particular asset class or strategy at the moment;
- You will add the manager to your database, and;
- You will reach out at a time when you are conducting a search for that asset class or strategy.
Doing so provides the manager with insight on your status and will reduce follow-up emails. You can utilize a template email to save time in responding.
Track and file: Any information that comes in should be tracked and saved. You can use CRM software, such as Salesforce, to track managers, or a manager database such as Morningstar or Nasdaq eVestment, or a simple spreadsheet. Include the manager’s name, asset class, strategy, fund name, contact info, date of introduction and any other information deemed necessary. This will allow managers who cross your desk to be included in a future search. Investment managers are typically delighted when they receive a call for an update months after an initial communication.
For investment managers
Robust communication: Ensure any unsolicited email includes a concise description of the firm and strategy; a marketing document, such a deck or fact sheet; and contact information. Assume the family office representative has limited time to review and respond. They can open the attached document if further information is required.
Be patient and respectful: Busy family office professionals may not respond in a timely manner. Best to give them time to respond, even if you can see they opened the email.
Add to a database: Be proactive in adding your strategy to a manager database. This can save the family office professional time by not having to upload your returns. It also makes it easier to add the strategy to an “investment universe” or tracking list, increasing the probability that it will be considered in the future.
The above may seem like small things, but based on my experience, they can help improve the due diligence process and ensure everyone starts off on the right foot.

Dan Riverso is the Chief Investment Officer at Jesselton Capital Management Inc., which provides a customized, private and confidential platform for the investing needs of family offices. Jesselton, based in Toronto, is registered with the Ontario Securities Commission as an Investment Fund Manager and Exempt Market Dealer. Dan has 20 years of experience working with Canada’s wealthiest families.
The Canadian Family Offices newsletter comes out on Sundays and Wednesdays. If you are interested in stories about Canadian enterprising families, family offices and the professionals who work with them, but like your content aggregated, you can sign up for our free newsletter here.
Please visit here to see information about our standards of journalistic excellence.