FOX offers a number of learning events throughout the year. Some, like our webinars, are online, while others, like our annual FOX Fall Forum, are in person. Both have distinct advantages. Online learning is convenient and more readily available. It is easier to fit into your workday.In person events require more of an investment, but they are also generally more rewarding. They are more interactive, allowing attendees to better engage with the speakers and the learning materials. In fact, it’s often during the unplanned portion of a session that you gain the most perspective. Q&A sessions...

I will be conducting our Wealth Advisor Master Class next month with FOX Founder and CEO Sara Hamilton. Much of the program will focus on the sales and service models of elite wealth advisors serving the ultra-high-net-worth market, so I’ve been thinking a lot lately about how firms compete and differentiate themselves.FOX recently published an interesting study looking at key trends in the structure and operation of integrated wealth advisory businesses. The study found that while product offerings were similar from firm to firm, there was one final frontier in the realm of differentiation: c...

FOX is pleased to welcome Dr. Richard Haass back as a keynote speaker for this year’s Fall Forum.Dr. Haass is the president of the Council on Foreign Relations, a non-partisan organization promoting greater understanding of the foreign policy choices facing the United States and other countries. From 2001-2003, he served as the former director of policy planning for the U.S. State Department. He is also the author or editor of 12 books, 11 on American foreign policy, including War of Necessity, War of Choice: A Memoir of Two Iraq Wars.Last year Dr. Haass provided our attendees with an illumina...

We are pleased to announce that Time Senior Political Correspondent Mark Halperin will be delivering a keynote address at this year’s FOX Fall Forum. Mark’s session will discuss “The Substance, Drama and Consequence of Modern Politics,” a subject he has developed an in-depth knowledge of during his more than 20 years of covering Washington. Coming just a couple weeks before Americans head once again to the polls, this timely address will look at some of the motivations for today’s divisive political environment and their policy implications. We hope you can join us for what is certain to ...

Family Office Exchange is known for pioneering initiatives that provide unique insights to wealth owners and wealth advisors. Our latest innovation is the Directory of Leading Wealth Advisors launched in June, after 20 years of research on the topic. This database, designed to help families with multi-generational wealth identify qualified integrated wealth advisors, provides a starting point for families pursuing an advisor selection process. FOX screened the wealth advisors for the Directory using 22 criteria established by FOX and vetted by leaders in the industry. These criteria are a...

Last week we released our latest study, "Building a Family Enterprise Plan to Deal with Future Uncertainty." Based on the press coverage and level of blog commentary, we appear to have touched on an important subject. The tumult of the financial crisis and a feeling that the world has increasingly become a global village has focused minds on the need to think and plan ahead. Our conversations with families in various parts of the world reflect a growing awareness that by readying yourself for different scenarios – geopolitical, regulatory, etc. – you build organizational "resilience," mak...

Our members gathered at the FOX Global Investment Forum last month to discuss investment opportunities and the benefits of taking a longer-term view in their deployment of family capital. They came for an investment update and to see what other families were investing in. What was reinforced by the attendees was their growing interest in buying operating businesses again and their desire to co-invest with other families in some of these opportunities.More families today are seeking to co-invest with other families where there is a greater alignment of interests, greater control, and more flexi...

Courage is what it takes to stand up and speak; courage is also what it takes to sit down and listen. - Winston Churchill Wikipedia interprets the “elephant in the room” as a metaphor for an obvious truth that is either ignored or remains unaddressed. A “white elephant” is also an idiom for a valuable but burdensome possession that the owner cannot easily dispose of. White elephants (albino elephants) have long been regarded as sacred in Thailand. Legend has it that if a Thai king became dissatisfied with a subject he would give him a white elephant, because such a gift, i...

In the last NextGen post, I shared some insights into what keeps some younger family members from becoming engaged in the business of the family. Here’s a list of practical ideas and strategies to encourage engagement with the next generation and other family members. These ideas come from experiences shared by Family Office Exchange members, the FOX Education Toolkit, and input from industry professionals:Create and implement a family engagement survey to understand how individuals want to be engaged and get feedback to inform engagement activities.Identify a small project that aligns wi...

Advisors to wealthy families are nothing if not solicitous. For nearly two-thirds of FOX multi-family office members, “quality of client servicing” is the characteristic that receives the most attention in marketing efforts.When it comes to service quality, however, some firms are likely providing too much of a good thing. In the process, these firms are eroding enterprise value—they are adding cost without commensurate benefit. Delivering on conventional notions of service quality is costly. Providing clients with high levels of customization and easy access to p...

Many NextGen family members who are actively engaged in the business of their families, whether by participating in the foundation, working in the family office, or as an employee of the operating company, say they’re frustrated by peers who are not actively engaged. They’re especially frustrated when these peers complain about decisions but don’t provide input when asked or even respond to simple emails or phone calls.So, what gives? What’s the reason for the lack of participation? From our work with the FOX NextGen community we have been able to gain some insights into what keeps some younge...

You’re right. The last thing the world needs is another blog. This will change your mind.The world of family offices is full of complex issues and lots of smart people working on solutions. They are working in far corners of the globe, often attached to a business or financial enterprise. Their desire to come together, to share experiences, and learn what others consider to be best practices in managing a family’s wealth is why Family Office Exchange exists.This blog is an important new tool to knit this network together in real time. FOX will use the platform to get ne...