Dive into Artificial Intelligence (AI) governance with Grant Thornton’s concise video series that are designed for board members and senior executives. The four short videos summarize insights on the challenges and opportunities of AI board governance. From understanding the need for “AI circuit breakers” to tracking risks and accountability, and finally embracing AI as a manageable challenge, this series addresses some of the key issues for staying on top of AI in your business.
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Time is our most precious, finite, and versatile resource. Family office industry stakeholders are reevaluating their relationship with time—making meaningful behavioral changes to maximize their “return on invested time.” Powerful and practical tools—some borrowed from the field of investment management—can help maximize return on this scarce and treasured asset.
The future will bring transformative changes to families, their enterprises, family offices, and wealth advisors. Transformation will be structural, philosophical and cultural, resulting in a paradigm shift that better balances managing the family’s financial capital and nurturing its other capitals—especially the well-being of its members.
We are excited to bring you FOX’s 2024 Foresight. As FOX turns 35, join us in exploring a range of highly consequential themes shaping the next 35 years and beyond. It is our hope the topics, which originated from families, thought leaders, practitioners, and the FOX team, will stimulate your thinking and inform your decisions and actions over the coming months. 2024 FOX Foresight is presented in 9 chapters:
The dramatic growth of the family office industry in the 1980s was sparked by new liquidity running through hundreds of business-owning families. In an effort to preserve and expand their wealth, they needed a professional financial office so they could focus on broadening their business endeavors or living unencumbered lives.
At its core, a mission statement serves as a compass, continually steering an organization or business toward their goals. For the families who undertake the process of creating a mission statement, it provides a similar and essential navigational tool. To be successful, however, the mission statement must resonate and mean something to everyone in the family. It should ideally look inward to identify each family member’s personal values.
FOX Foresight keeps you up to date on our latest thinking about matters affecting families, family offices, and their advisors. It gives you our forward look on what we're learning from our members and subject matter experts. Please share it broadly with your family, your office, and your advisors.2023 FOX Foresight is presented in 8 chapters:
As we approach the two-year mark since the COVID-19 virus first hit and start to envision a “new normal,” Family Office Exchange (FOX) has identified three dominant themes that will drive disruption and opportunity for families of wealth, their family offices, and their professional advisors. We call them the "3Ts” – transitions, talent, and technology.
Any owner at any age can gain ownership-related perspective and skills contributing to greater family harmony and business success. With two other authors, Gaia Marchisio, executive director at Cox Family Enterprise Center at Kennesaw State University, has written a book providing enterprising families and their advisors examples and practical advice to promote knowledge, skills, and capabilities -- incorporating a broad range of topics spanning personal and interpersonal, leadership and wealth, business, ownership, and financial.
While it is essential to employ the best investment managers, accountants, attorneys, and experts to guard the private wealth, from a multi-generational perspective, it is crucial to think beyond the private wealth, and incorporate the family wealth. This shift is a holistic approach that prepares the human capital, enhances the intellectual capital, and builds the appropriate governance framework. The result will foster clearer communication among family members, stronger family cohesiveness, and well-prepared heirs who are better positioned to govern the family enterprise.