New Balance: The Inflection Point Facing Family Wealth | 2023 FOX Family Office and Wealth Advisor Forum

For the past 3 decades, the private wealth industry has been heavily focused on, and dominated by, highly technical disciplines, such as investment management, tax and accounting, and trust and estate planning, with solutions primarily serving the financial capital of enterprise families and the vision of prior generations. The qualitative needs and wellbeing of future generations expected to benefit from these solutions have rarely been a focus of industry practitioners. Today, we're at a turning point, as the next generation of family leaders, family office professionals, and wealth advisors face existential questions about the meaning of wealth, the purpose of the family office, and the family's definition of multigenerational success. Qualitative objectives, such as happiness, personal fulfillment, and family unity are rising in prominence and propelling human capital to the top of the family agenda.

Peter Moustakerski, CEO, FOX