Oftentimes, families struggle with a sense of fear and lack the clarity needed to address complexities of navigating change and growth. In this session, participants will learn an easy-to-implement framework on how to develop a greater sense of positive influence within the family system. Through an experiential learning process, you will gain confidence and practical tools that are rooted in a positive, strengths-based approach. Speakers will challenge the perspective of "what do we want to prevent?" and replace it with, “how do we want to grow?"
Evolution of the Family Journey
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The new year brings unique opportunities for families and their offices, but it can also create new obstacles to navigate. FOX has identified three dominant themes that will drive disruption and opportunity for families of wealth, their family offices, and their professional advisors.
At some point, your family wealth may be so complex, or a significant transition happens that starts a process to form an independent family office outside of the business. Whatever the reason, separating family wealth management from the business should be considered an evolutionary process and starts with your family gaining consensus to establish an independent office or use outside partners.
Private Wealth vs. Family Wealth: A Holistic Approach to Sustaining Generational Wealth
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Family wealth encompasses more than the financial capital of the family. From a multi-generational and family sustainability perspective, it’s about thinking beyond the private wealth and incorporating a holistic approach that prepares the human capital, enhances the intellectual capital, and builds the appropriate governance framework. This shift in thinking and practice will foster clearer communication among family members, stronger family cohesiveness, and well-prepared heirs who are better positioned to govern the family enterprise.
2021 FOX Foresight – What's on the Minds of Members
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FOX Foresight keeps you up to date on our latest thinking about matters affecting Enterprise Families. 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. 2021 FOX Foresight is presented in 7 chapters:
Families are becoming more complex, but a shared family vision and strategy are becoming easier to define. Business-centric families are becoming enterprise-centric and risk assessment is more sophisticated. Having impact in the future will require new strategies and new ways of thinking. The Family Office of old will need to make substantial adjustments to stay relevant in the coming decades. To thrive in the future, families must prepare themselves for dramatic change. Here we look at the seven most significant changes taking place as families adapt to the modern times.
2020 FOX Foresight: Meet Families of Impact
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Sophisticated families are looking for new ways to positively affect their communities and the world. Learn the innovative approaches of six families achieving lasting impact in our world.
2020 FOX Foresight: Take the Long-Term View
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The perennial question facing financially successful families is how to preserve the family and its well-being beyond the first generation. It isn’t the size of wealth that determines the family’s ability to build successful Enterprise Family—it’s realizing you have something worth preserving and setting a goal to maintain the family’s financial, social, and human capital for generations to come. Like all worthwhile journeys, it helps to start with a roadmap to ensure your family’s long-term success.
As families of wealth and their Family Offices consider future success strategies, how ready are they to adapt? To help families prepare for the various stages of changes in the family journey, Dr. Jim Grubman shares the approach he uses—including the application of the Readiness Ruler—in this Q&A with FOX.
2020 FOX Foresight
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FOX Foresight keeps you up to date on our latest thinking about matters affecting Enterprise Families. 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. 2020 FOX Foresight is presented in 7 chapters: