Family Offices Confront Cybersecurity Reality: Key Insights from London

Recently, Josh Burch and Will Kilmer were invited to address more than 60 family offices in London on cybersecurity and resilience, a conversation that revealed both the urgency of current threats and the path forward for better protection. 

The two-day event, hosted by a prominent family office investor group, brought together leaders to discuss the most pressing challenges facing their organisations. One theme dominated every conversation: uncertainty.  

 Their concerns are well-founded. A recent Deloitte survey found that 83% of single-family office respondents cited cyberattacks or data breaches as their biggest operational risk, a stark acknowledgement that cyber threats have moved from IT concern to existential business risk. 

The Unique Vulnerability of Family Offices 

The event culminated in a plenary session interview with Will Kilmer, who outlined why family offices face particularly complex security challenges. Unlike traditional businesses with defined perimeters, family offices operate across an interconnected ecosystem that can include the family office itself, adjacent family businesses, personal assets, and family members’ digital lives. This creates an expansive attack surface that threat actors can exploit through multiple entry points. 

“Vulnerabilities can extend across the family office, adjacent businesses, and the family itself, forming one large attack plane,” Kilmer explained. This interconnectedness means that a breach in one area can cascade across the entire family enterprise, amplifying potential damage. 

Kilmer’s interview delivered several key insights that challenge conventional thinking about family office cybersecurity: 

Obscurity Is Not a Strategy

Many family offices operate under the misconception that their relative size or low profile provides inherent protection. This “security through obscurity” approach fails in today’s threat environment, where automated tools make it easy for attackers to discover vulnerabilities regardless of organisation size. The better strategy is being more secure than the next possible target – making your organisation a harder target than alternatives in your peer group. 

Security Is More Achievable Than You Think

Despite the complexity of modern threats, fundamental cybersecurity isn’t as difficult as many organisations believe. Kilmer provided attendees with a comprehensive white paper outlining 12 practical steps to better cybersecurity, emphasising that implementing the basics doesn’t require extensive technical expertise or massive resource commitments. The foundation of good security lies in consistent execution of proven practices, not exotic technologies. 

Resilience Requires Strategic Rethinking

While basic security measures can prevent many attacks, resilience demands deeper organisational commitment. This includes developing comprehensive response plans, understanding specific threat profiles, and systematically removing single points of failure. Resilience isn’t just about technology – it’s about operational preparedness and organisational culture. 

Strong Market Response  

The family office community’s response to the presentation was immediate and substantial. More than 40 family offices contacted Gallos Ventures following the event to learn more about security and resilience strategies, with many expressing interest in investment opportunities within the cybersecurity sector. 

This level of engagement reflects a broader shift in how family offices view cybersecurity – not just as a defensive necessity, but as an area requiring active investment and strategic attention. As family offices increasingly recognise that their unique structure and high-value targets make them attractive to sophisticated threat actors, they’re seeking both better protection and investment opportunities in the security sector. 

The white paper developed specifically for family offices, containing the 12-step cybersecurity framework and resilience guidance discussed during the London event, is available for download and provides actionable steps that family offices can implement immediately. You can download the white paper here.   

The Path Forward  

The London family office gathering highlighted a critical inflection point for family office cybersecurity. Organisations that have traditionally relied on discretion and low profiles for protection are recognising that modern threats require modern defences. The good news is that effective cybersecurity doesn’t require revolutionary changes, it requires consistent application of proven practices, combined with strategic thinking about resilience and response. 

For family offices ready to move beyond uncertainty toward action, the roadmap is clear: implement fundamental security controls, develop comprehensive resilience plans, and consider cybersecurity not just as a cost centre but as a strategic investment opportunity.