Breakout Session B: Virtual Family Offices and Meeting the Needs of Their Clients

Needs and goals of the family inform the attributes of any good family office. How the family office supports the family in that regard is a big question. Increasingly, certain families are considering transforming into a virtual family office, in part at least, as they think about the family client of the future. But what are the considerations that should be addressed as part of such a change? This session will explore the impact of such a transformation of a family office on oversight, cost, technology, team and advisor ecosystem, as well as insourcing vs. outsourcing of services, among other considerations. What are the different types of virtual family offices that exist? Why have families chosen (or not chosen) this path? FOX Managing Director Charlie Grace will address these questions and walk attendees through scenarios that explore the various iterations of a virtual family office as well as the lessons learned. The session will then divide into facilitated breakout groups to address technology as well as other tactical and strategic considerations for virtual family offices.

Presenters:

Andrew L. Busser, Managing Director of Strategy, Pitcairn

Steven Draper, Partner, Markets & Best Practices, ETON Solutions

Dain Kistner, Director of Family Office Innovation, Pitcairn