the declarations. podcast with Host Todd S. Rich

Sean Plummer, Founder of Haystack Capital Partners

Apr 17, 2025

In this engaging discussion, Sean Plummer, founder of Haystack Capital Partners and advisor to over 160 family offices, delves into the unique investment strategies of high-net-worth families. He highlights the importance of relationship-building, trust, and emotional intelligence over mere returns. Sean shares insights on how generational transitions are reshaping wealth management and discusses the rise of direct deals. The conversation emphasizes aligning investments with personal values and the role of philanthropy in creating long-term impact.

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ANECDOTE

Sean’s Investment Banking Start

Sean started in investment banking working part-time while finishing school, getting a $5/hour analyst job.
His early role was menial but it gave him valuable exposure to executives and family-owned businesses.

INSIGHT

Haystack's Family Office Focus

Haystack serves 160 families ranging from $200 million to $40 billion with a focus on first-generation wealth.
They split their business between direct deals led by families and specialized family office-focused funds.

INSIGHT

Family Offices’ Unique Investing Freedom

Family offices invest differently than institutions mainly because of their complete freedom and long-term view.
They often invest in less competitive spaces where institutional capital won't go, driven by alignment with family values and tax considerations.

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In this episode of declarations., host Todd S. Rich sits down with Sean Plummer, founder of Haystack Capital Partners, for a thoughtful conversation on how high-net-worth families invest differently from institutions—and why that difference matters. With deep experience from his time at Fidelity Family Office Services and now as a trusted advisor to over 160 family offices, Sean shares how he's built a business around relationships, alignment, and thoughtful capital allocation.

Sean reflects on how his small-town upbringing in Davis, California, shaped his worldview, and how a desire to listen and learn from everyone—regardless of background—has guided his career. The conversation explores the evolution of family office investing, the rise of direct deals, and how Haystack connects families with unique opportunities that align with their expertise and values.

Topics include:

The key differences between family offices and institutional investors
Why alignment, trust, and EQ are more important than IRR in the family office world
How Haystack helps match capital with operating families and niche fund managers
The impact of generational transitions and how G2 is reshaping the future of wealth
Why the next frontier in family capital may lie in deeper networks, shared values, and long-term partnerships

This episode offers a rare inside look at how some of the world’s wealthiest families think about investing—not just for returns, but for relationships, legacy, and long-term impact.

Links:

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Setting the Table by Danny Meyer

Topics:

(00:00:00) - Intro
(00:02:38) - Sean’s Declaration
(00:03:37) - Sean’s upbringing and early career
(00:10:46) - Transitioning into family office services
(00:15:51) - Forming Haystack
(00:20:40) - Investing with families vs. Institutions
(00:24:48) - Learnings from working with Family Offices
(00:26:58) - Characteristics families seek when making an investment or selecting a fund manager, and investing themes
(00:35:10) - What are families investing in today?
(00:37:39) - Cultivating and maintaining family office relationships
(00:44:28) - Trends to watch for over the next decade
(00:48:13) - Trends that emerge in the transfer of power within families
(00:50:33) - Philanthropy
(00:51:42) - Influential books
(00:53:29) - Most meaningful advice
(00:54:49) - How Sean pursues happiness