Industry Founders Panel Replay
OVERVIEW
For the first time ever, FOX brought together the five most prominent and iconic founders of the family wealth field. Panelists reflected on the journey of the past four decades, shared their vision of the future and evolution of the family journey, and offered their wisdom and advice for the rising generation leaders who are steering their families and their enterprises in the decades to come.
For nearly 40 years, these pioneers of the family wealth profession have been working with family leaders and family office executives to help their families manage and grow their enterprises, strengthen their family systems and well-being, and deliver a positive impact on their communities and the world. We are pleased to share this two-part session with you below.
Panel Replays: Parts 1 and 2
Meet The Panel
Author of Family Wealth: Keeping it in the Family, and of Family - The Compact Among Generations
Mr. Hughes, a resident of Aspen, Colorado, is the author of Family Wealth: Keeping It in the Family, and of Family – The Compact Among Generations, both published by Bloomberg Press, and is the co-author with Susan Massenzio and Keith Whitaker of The Cycle of the Gift: Family Wealth and Wisdom, The Voice of the Rising Generation, and Complete Family Wealth, all published by John Wiley & Sons and is a co- author with Hartley Goldstone and Keith Whitaker of Family Trusts: A Guide to Trustees, Beneficiaries, Advisors and Protectors. In addition, he has written numerous articles on family governance and wealth preservation and a series of Reflections which can be found on his website jamesehughes.com.
He was the founder of a law partnership in New York City specializing in the representation of private clients throughout the world and is now retired from the active practice of law. Mr. Hughes was a partner of the law firms of Coudert Brothers and Jones Day. He is a current active Fellow of Wise Counsel Research Foundation a Boston based think tank providing qualitative advice to families who seek to avoid the shirt sleeves proverb and to help their families flourish.
He is a member of the Advisory Board of Arlington Partners, the Chair Emeritus and Chair of Distribution and Beneficiary Life Enhancement Committee of Lineage Trust Company, a Fellow of the Family Firm Institute, a member of the Society of Trusts and Estates Practitioners, Founding Member of the Collaboration for Family Flourishing, a Laureate of the Purposeful Planning Institute, Director of the Learning Courage Foundation, Standing Committee Member of the HS2 Foundation, Emeritus Trustee of The Far Brook School, Emeritus Trustee of Prescott College, former Trustee of the Albert and Mary Lasker Foundation, Board Member of the Hemera Foundation, and Board Member of the Robert H N Ho Family Foundation.
He has spoken frequently at numerous international and domestic symposia on the avoidance of the “shirtsleeves to shirtsleeves” proverb and on the dynamic growth of families’ human, intellectual, social, spiritual, and financial capitals toward their families’ flourishing.
He has authored various Forwards to multiple published works on families and their flourishing and has been cited in the New York Times, the Wall Street Journal and vari-ous professional journals. He is a member of boards of various private trust companies, an advisor to numerous investment institutions, and a member of a number of private philanthropic boards.
Jay is a graduate of the Far Brook School (Class of 1956) which teaches through the Arts, The Pingry School (Class of 1960), Princeton University (Class of 1964) and The Columbia School of Law (Class of 1967). He is a counselor to the Family Office Ex-change and recipient of its Founder’s Award, the recipient of the Private Asset Management Lifetime Achievement Award, the Ackerman Institute Family Partner Award, and the Family Wealth Report Lifetime Achievement Award.
In 2021, The James E. Hughes, Jr. Foundation (JEHJF) was funded, in Jay’s honor and as a gift to him, to advance the field of family wealth management and generational well-being. Rooted in Jay’s landmark Five Capitals research, the JEHJF is designed to spread the spirit of Jay to as many individuals that have this desire.
Author of Family Wealth: Keeping it in the Family, and of Family - The Compact Among Generations
Mr. Hughes, a resident of Aspen, Colorado, is the author of Family Wealth: Keeping It in the Family, and of Family – The Compact Among Generations, both published by Bloomberg Press, and is the co-author with Susan Massenzio and Keith Whitaker of The Cycle of the Gift: Family Wealth and Wisdom, The Voice of the Rising Generation, and Complete Family Wealth, all published by John Wiley & Sons and is a co- author with Hartley Goldstone and Keith Whitaker of Family Trusts: A Guide to Trustees, Beneficiaries, Advisors and Protectors. In addition, he has written numerous articles on family governance and wealth preservation and a series of Reflections which can be found on his website jamesehughes.com.
He was the founder of a law partnership in New York City specializing in the representation of private clients throughout the world and is now retired from the active practice of law. Mr. Hughes was a partner of the law firms of Coudert Brothers and Jones Day. He is a current active Fellow of Wise Counsel Research Foundation a Boston based think tank providing qualitative advice to families who seek to avoid the shirt sleeves proverb and to help their families flourish.
He is a member of the Advisory Board of Arlington Partners, the Chair Emeritus and Chair of Distribution and Beneficiary Life Enhancement Committee of Lineage Trust Company, a Fellow of the Family Firm Institute, a member of the Society of Trusts and Estates Practitioners, Founding Member of the Collaboration for Family Flourishing, a Laureate of the Purposeful Planning Institute, Director of the Learning Courage Foundation, Standing Committee Member of the HS2 Foundation, Emeritus Trustee of The Far Brook School, Emeritus Trustee of Prescott College, former Trustee of the Albert and Mary Lasker Foundation, Board Member of the Hemera Foundation, and Board Member of the Robert H N Ho Family Foundation.
He has spoken frequently at numerous international and domestic symposia on the avoidance of the “shirtsleeves to shirtsleeves” proverb and on the dynamic growth of families’ human, intellectual, social, spiritual, and financial capitals toward their families’ flourishing.
He has authored various Forwards to multiple published works on families and their flourishing and has been cited in the New York Times, the Wall Street Journal and vari-ous professional journals. He is a member of boards of various private trust companies, an advisor to numerous investment institutions, and a member of a number of private philanthropic boards.
Jay is a graduate of the Far Brook School (Class of 1956) which teaches through the Arts, The Pingry School (Class of 1960), Princeton University (Class of 1964) and The Columbia School of Law (Class of 1967). He is a counselor to the Family Office Ex-change and recipient of its Founder’s Award, the recipient of the Private Asset Management Lifetime Achievement Award, the Ackerman Institute Family Partner Award, and the Family Wealth Report Lifetime Achievement Award.
In 2021, The James E. Hughes, Jr. Foundation (JEHJF) was funded, in Jay’s honor and as a gift to him, to advance the field of family wealth management and generational well-being. Rooted in Jay’s landmark Five Capitals research, the JEHJF is designed to spread the spirit of Jay to as many individuals that have this desire.
Founder and Board Chair, FOX
Sara is one of the first professionals to recognize family offices as the most sophisticated segment of wealth management, and she has been described as “the Warren Buffet of the family office industry”. When hundreds of U.S. families became centi-millionaires through leveraged buyouts in the 1980s and 1990s, private family offices were created to manage family capital and to educate wealth owners.
Sara founded the Family Office Exchange (FOX) as a peer network for family office executives in 1989. Within 10 years, she could see that families needed help with family governance and managing financial transitions, in addition to their family offices. As a result, FOX evolved into an advisor to family enterprises, a platform for sharing family wealth best practices, and an industry advocate for the importance of private enterprise in a global economy.
Today, Sara provides input to the strategic direction for FOX and supports the development of new programs and services for family enterprises and wealth advisory firms in 25 countries. Sara is the co-author of Family Legacy and Leadership: Preserving True Family Wealth in Challenging Times. She serves on the executive education faculty of the University of Chicago Booth School of Business where she is an adjunct faculty member for their Private Wealth Management and Essentials of Wealth courses in the Executive Education program. She is on the founding board for the Foundation Advancing Impact and Sustainability in Bologna and the founding board for the Private Directors Association in Chicago.
Founder and Board Chair, FOX
Sara is one of the first professionals to recognize family offices as the most sophisticated segment of wealth management, and she has been described as “the Warren Buffet of the family office industry”. When hundreds of U.S. families became centi-millionaires through leveraged buyouts in the 1980s and 1990s, private family offices were created to manage family capital and to educate wealth owners.
Sara founded the Family Office Exchange (FOX) as a peer network for family office executives in 1989. Within 10 years, she could see that families needed help with family governance and managing financial transitions, in addition to their family offices. As a result, FOX evolved into an advisor to family enterprises, a platform for sharing family wealth best practices, and an industry advocate for the importance of private enterprise in a global economy.
Today, Sara provides input to the strategic direction for FOX and supports the development of new programs and services for family enterprises and wealth advisory firms in 25 countries. Sara is the co-author of Family Legacy and Leadership: Preserving True Family Wealth in Challenging Times. She serves on the executive education faculty of the University of Chicago Booth School of Business where she is an adjunct faculty member for their Private Wealth Management and Essentials of Wealth courses in the Executive Education program. She is on the founding board for the Foundation Advancing Impact and Sustainability in Bologna and the founding board for the Private Directors Association in Chicago.
Senior Research Fellow, BanyanGlobal Family Business Advisors
Dr. Jaffe, a San Francisco-based advisor to families about family business, governance, wealth and philanthropy, is Senior Research Fellow at BanyanGlobal Family Business Advisors. He is author of Borrowed from Your Grandchildren: The Evolution of 100-Year Family Enterprises; Cross Cultures: How Global Families Negotiate Change Across Generations; Stewardship in your Family Enterprise: Developing Responsible Family Leadership Across Generations and Working with the Ones You Love. His global insights have led to teaching or consulting engagements in Asia, Europe, the Middle East, and Latin America. The Family Firm Institute awarded him the 2017 International Award for service, and in 2005 he received the Beckhard Award for service to the field. In 2020 he was awarded a special commendation as an individual thought leader in the field of wealth management by the Family Wealth Report. He has a BA degree in Philosophy, MA in Management, and Ph.D. in sociology, all from Yale University, and professor emeritus of organizational systems and psychology at Saybrook University in San Francisco.
Senior Research Fellow, BanyanGlobal Family Business Advisors
Dr. Jaffe, a San Francisco-based advisor to families about family business, governance, wealth and philanthropy, is Senior Research Fellow at BanyanGlobal Family Business Advisors. He is author of Borrowed from Your Grandchildren: The Evolution of 100-Year Family Enterprises; Cross Cultures: How Global Families Negotiate Change Across Generations; Stewardship in your Family Enterprise: Developing Responsible Family Leadership Across Generations and Working with the Ones You Love. His global insights have led to teaching or consulting engagements in Asia, Europe, the Middle East, and Latin America. The Family Firm Institute awarded him the 2017 International Award for service, and in 2005 he received the Beckhard Award for service to the field. In 2020 he was awarded a special commendation as an individual thought leader in the field of wealth management by the Family Wealth Report. He has a BA degree in Philosophy, MA in Management, and Ph.D. in sociology, all from Yale University, and professor emeritus of organizational systems and psychology at Saybrook University in San Francisco.
Founder and Managing Partner, Wealthbridge Partners, LLC
Ellen Perry is the founder and Managing Partner of Wealthbridge Partners, LLC. She has more than 30 years of experience serving as a strategic advisor for families of substantial wealth. During this time, she has gained perspective on the many ways wealth affects families and developed expertise on practices that substantively enhance the life of a family and its individual members. She works with families and family ecosystems on issues such as governance, succession planning, conflict resolution, communication, and leadership development. She has extensively studied the emotional and psychological context of family and completed a 3-year post graduate program in Family Systems Theory at the Bowen Center at Georgetown.
Before founding Wealthbridge Partners, Ms. Perry was the co-founder and President of GenSpring Family Offices, a multiclient family office. She is a frequent speaker, author and advisor on family strategies that create and sustain great families throughout multiple generations. Her book, A Wealth of Possibilities has become a vital resource for those who seek to better understand the qualitative issues and human capital of their family.
Founder and Managing Partner, Wealthbridge Partners, LLC
Ellen Perry is the founder and Managing Partner of Wealthbridge Partners, LLC. She has more than 30 years of experience serving as a strategic advisor for families of substantial wealth. During this time, she has gained perspective on the many ways wealth affects families and developed expertise on practices that substantively enhance the life of a family and its individual members. She works with families and family ecosystems on issues such as governance, succession planning, conflict resolution, communication, and leadership development. She has extensively studied the emotional and psychological context of family and completed a 3-year post graduate program in Family Systems Theory at the Bowen Center at Georgetown.
Before founding Wealthbridge Partners, Ms. Perry was the co-founder and President of GenSpring Family Offices, a multiclient family office. She is a frequent speaker, author and advisor on family strategies that create and sustain great families throughout multiple generations. Her book, A Wealth of Possibilities has become a vital resource for those who seek to better understand the qualitative issues and human capital of their family.
Founder, Purposeful Planning Institute
John A. Warnick, who family, friends and clients know as “John A”, describes himself as a “recovering tax attorney.” After practicing for thirty-two years as a tax and legal advisor to wealthy families, he left the large law firm to found the Purposeful Planning Institute (“PPI”), a multi-disciplinary education and training organization whose primary mission has been to explore and share the best practices which empower advisors and consultants to assist enterprising families find sustainable paths to flourishing legacies. While he still maintains an active legal and consulting practive, Mr. Warnick has devoted over 50% of his professional energy teaching and writing about what he calls the Eight Keys of Purposeful Trusts and Legacies and the Six Paradigms of Purposeful Planning. He has been a strong proponent for what he describes as “Fusion”, the processes of implementing best practices from the qualitative worlds of family wealth and family enterprise into the technical planning.
Mr. Warnick is currently on sabbatical from service as a Fellow of the American College of Trust and Estate Counsel. Until 2022 he served as the chairperson of two subcommittees within ACTEC. He also served for five years as the Philanthropic Editor of the Journal of Practical Estate Planning and serves today on the Carter Center Philanthropy Council. He was proud to be a member of NAEPC’s Multidisciplinary Teaming and Professional Collaboration Committee. In the 1980s and 1990s he authored two portfolios for Tax Management, a Bureau of National Affairs publishing arm for tax professionals and frequently consulted with attorneys, CPAs, CLU, and CFPs on the topics of private annuities and self-cancelling installment sales. In 1989 he published a law review article: “The Ungrateful Living – The Estate Planner’s Nightmare and Trial Attorney’s Dream. His most recent publications include “Generative Trusts & Trustees: A New Paradigm for Design and Administration”, “Innovate or Die”, and "Selecting a Trust Situs in the 21st Century".
Mr. Warnick received a BA magna cum laude from Brigham Young University and his JD from George Washington University with honors. He is a member of the Nevada, Wyoming, and Colorado Bar Associations and was a member for many years of the Rocky Mountain Estate Planning Council, until he and his wife moved from Denver to St. George, Utah, where they currently reside.
Founder, Purposeful Planning Institute
John A. Warnick, who family, friends and clients know as “John A”, describes himself as a “recovering tax attorney.” After practicing for thirty-two years as a tax and legal advisor to wealthy families, he left the large law firm to found the Purposeful Planning Institute (“PPI”), a multi-disciplinary education and training organization whose primary mission has been to explore and share the best practices which empower advisors and consultants to assist enterprising families find sustainable paths to flourishing legacies. While he still maintains an active legal and consulting practive, Mr. Warnick has devoted over 50% of his professional energy teaching and writing about what he calls the Eight Keys of Purposeful Trusts and Legacies and the Six Paradigms of Purposeful Planning. He has been a strong proponent for what he describes as “Fusion”, the processes of implementing best practices from the qualitative worlds of family wealth and family enterprise into the technical planning.
Mr. Warnick is currently on sabbatical from service as a Fellow of the American College of Trust and Estate Counsel. Until 2022 he served as the chairperson of two subcommittees within ACTEC. He also served for five years as the Philanthropic Editor of the Journal of Practical Estate Planning and serves today on the Carter Center Philanthropy Council. He was proud to be a member of NAEPC’s Multidisciplinary Teaming and Professional Collaboration Committee. In the 1980s and 1990s he authored two portfolios for Tax Management, a Bureau of National Affairs publishing arm for tax professionals and frequently consulted with attorneys, CPAs, CLU, and CFPs on the topics of private annuities and self-cancelling installment sales. In 1989 he published a law review article: “The Ungrateful Living – The Estate Planner’s Nightmare and Trial Attorney’s Dream. His most recent publications include “Generative Trusts & Trustees: A New Paradigm for Design and Administration”, “Innovate or Die”, and "Selecting a Trust Situs in the 21st Century".
Mr. Warnick received a BA magna cum laude from Brigham Young University and his JD from George Washington University with honors. He is a member of the Nevada, Wyoming, and Colorado Bar Associations and was a member for many years of the Rocky Mountain Estate Planning Council, until he and his wife moved from Denver to St. George, Utah, where they currently reside.
CEO, FOX
Peter Moustakerski is CEO of Family Office Exchange (FOX), the premier resource for families managing private enterprises and family wealth across generations. For over 30 years, FOX has been recognized as the industry’s most exclusive, innovative, and influential community for peer networking and learning, and has provided independent insights, expert guidance, and practical solutions to complex problems related to family transitions and family wealth.
Peter has spent more than 25 years as a C-level strategist and executive across a variety of industries, including wealth management, capital markets, and technology. He is a former family office executive and FOX member, management consultant, and entrepreneur. He has served as a strategy, innovation, and growth leader for a number of private and public companies and founded two start-ups in New York City and China.
Prior to joining FOX, Peter served as Chief Operating Officer of the family office of the founder of Bridgewater Associates, where he worked closely with the principal family members to envision and oversee the redesign of the family office strategy and day-to-day operations to better serve the evolving needs of the family. Before that, Peter was a management consultant at Booz Allen Hamilton, advising many of the world’s top C-suite leaders, and a strategy executive at UBS, leading all growth and transformation initiatives for the bank’s wealth management organization.
Most recently, Peter was Chief Strategy Officer of News America Marketing, a former News Corp. subsidiary, where he built and led the Corporate Strategy and M&A function and led the company’s successful carve-out and sale to a private equity sponsor. In addition, for more than 20 years, Peter has been a contributing writer and researcher with The Economist Intelligence Unit (EIU), and has led many qualitative and quantitative research projects, and written a number of influential white papers for the EIU, NBER, and other research institutions and media publications.
Peter holds an MBA from Columbia Business School and a BSc in Computer Science and Engineering from Zhejiang University in China, and is proficient in Mandarin, Russian, and Bulgarian.
CEO, FOX
Peter Moustakerski is CEO of Family Office Exchange (FOX), the premier resource for families managing private enterprises and family wealth across generations. For over 30 years, FOX has been recognized as the industry’s most exclusive, innovative, and influential community for peer networking and learning, and has provided independent insights, expert guidance, and practical solutions to complex problems related to family transitions and family wealth.
Peter has spent more than 25 years as a C-level strategist and executive across a variety of industries, including wealth management, capital markets, and technology. He is a former family office executive and FOX member, management consultant, and entrepreneur. He has served as a strategy, innovation, and growth leader for a number of private and public companies and founded two start-ups in New York City and China.
Prior to joining FOX, Peter served as Chief Operating Officer of the family office of the founder of Bridgewater Associates, where he worked closely with the principal family members to envision and oversee the redesign of the family office strategy and day-to-day operations to better serve the evolving needs of the family. Before that, Peter was a management consultant at Booz Allen Hamilton, advising many of the world’s top C-suite leaders, and a strategy executive at UBS, leading all growth and transformation initiatives for the bank’s wealth management organization.
Most recently, Peter was Chief Strategy Officer of News America Marketing, a former News Corp. subsidiary, where he built and led the Corporate Strategy and M&A function and led the company’s successful carve-out and sale to a private equity sponsor. In addition, for more than 20 years, Peter has been a contributing writer and researcher with The Economist Intelligence Unit (EIU), and has led many qualitative and quantitative research projects, and written a number of influential white papers for the EIU, NBER, and other research institutions and media publications.
Peter holds an MBA from Columbia Business School and a BSc in Computer Science and Engineering from Zhejiang University in China, and is proficient in Mandarin, Russian, and Bulgarian.