Family Office Best Practices

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A Look at Private Company Governance
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Bruce Golden of Accel Partners has been recognized as one of the top 100 venture capitalists in Forbes’ Midas List of tech investors. He also sits on the boards of several public and private companies. In a recent interview, he shared his perspective as both a board member and investor, and explained how communication and measurement are the keys to good private company governance.

The Answer to Family Office Regulatory Reform – The Private Family Trust Company
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As a result of the Wall Street Reform and Consumer Protection Act, the private family trust company (PFTC) has becomie a very popular vehicle to provide not only Family Office SEC exemption but also trust administration to the ultra wealthy inter-generationally and several additional tax and non-tax advantages.

Social Media Risks
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This article highlights steps that should be taken to ensure the privacy of family members and family office staff who use social media tools, including warnings about posting location-based information and a review of privacy settings for social media.

Good Fortune: Building a Hundred Year Family Enterprise
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In his latest research study, Dennis Jaffe and research contributors from Family Business Network, Family Office Exchange, and Stetson University’s Family Enterprise Center interviewed 38 families that have managed to overcome the adage “shirtsleeves to shirtsleeves in three generations.” The report discusses the generational stages in the development of the family enterprise and includes 19 vignettes of family member refle

Have Your Excel Based Applications Overstayed Their Welcome?
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A software consultant to financial services firms provides some food for thought about the extensive use of custom built Excel-based applications. The article touches on reasons why the use of Excel may be hurting your advisory firm or family office, reasons to review your existing Excel applications in use and whether you should consider other options.

Best Practices: Internal Controls
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Walnut Ridge Strategic Management Co. just completed an internal controls audit. Lou Colella and his advisor, Chris Cutrara of Plante Moran provided an in-depth look at their audit experience, including how they identified resources, implementation, and the end results.The biggest issues identified in this case study included: lack of cash controls, accountability for financial reporting, documentation on investment policy, and lack of committees and communication on trusts.Key takeaways include:

FOX Technology Survey Results
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This session previewed new Family Office Exchange research on family office technology with a look at current software solutions, technology budgets, biggest technology challenges and plans for the future. FOX Senior Consultant Jane Flanagan led the discussion.Key takeaways include:

Cyber Security: What Is It & What We Are Doing About It
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Our daily life, economic vitality, and family security depend on a stable, safe, and resilient cyberspace. As we all become more reliant on modern technology, we also become more vulnerable to cyber attacks such as corporate security breaches, spear phishing and social media fraud. These threats will be addressed and solutions provided in this session.

Fraud Alert: A Social Engineering Survival Guide
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Social engineering is the term security experts use to describe fraud campaigns that target human rather than technology elements. This brand of fraud has grown increasingly pervasive in recent years. In fact, with technology-based security programs becoming more sophisticated, more criminals are turning to social engineering. Tristate President Chuck Fawcett will address what you need to know to combat this ever-growing threat.