President Trump’s recently released proposed budget for Fiscal Year 2018, titled “A New Foundation for American Greatness,” has numerous points of interest for employers, including proposals to: cut the Department of Labor’s budget; slash the budget and workforce of the National Labor Relations Board; reduce the budget of the Office of Federal Contractor Compliance Program and merge it with the Equal Employment Opportunity Commission; implement mandatory E-Verify for all employers; and establish a federal paid family leave program.
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As Market Street Trust Company reaches the 30-year milestone as a private trust company, Marianne Young, President, and Rachel Sherman, Vice President, Client Service, discussed the evolution of Market Street’s early leadership, governance, and services to its current form as a shared family office and private trust company. Over the course of the webinar, they shared the benefits, roadblocks and considerations involved in the formation of a private trust company as well as the continued progression of client and family office services, both in depth and complexity.
Succession planning, development of the next generation, finding and keeping key staff members… all seem to be constant quests in the Family Office. In this session, we explored how to incorporate helpful goal setting principles in creating expectations for your staff and apply practical tips for providing effective performance feedback within your organization.
This annual FOX survey of investor attitudes and behaviors provides readers with peer perspective from 118 family offices on a wide range of topics, including asset allocation and investment performance, passive versus active investing in long-only equity, 2017 investment trends, benchmarking a multi-asset portfolio, current economic outlook, investment opportunities and financial challenges for 2017.Webinar
This webinar analyzed the meaning and understanding of “situs” as it relates to Private Family Trust Companies, and focused specifically on the concepts of trust company situs, trust situs, and tax situs. Many people, in and out of the trust industry, utilize the term “situs” without a clear understanding of its many meanings. The speaker evaluated situs in terms of three relatively easy to understand precepts: trust company situs, trust situs, and tax situs with a focus on what to do “in” and “out” of a particular to state.
Inadequately checking the background of a prospective family office employee or performing an improper background check can be hazardous for a family office, resulting in claims of negligent hiring, reckless endangerment, and possible scrutiny from the EEOC, OFCCP, and the courts.
The 2016-17 FOX Thought Leaders Council Report: Strengthening the Partnership Between Families and Advisors is a great resource for those who are seeking ways to construct sustainable partnerships and how to make them productive. Inside, you’ll find why partnerships are key to successful family/advisor relationships, what makes partnerships enduring, how to determine the right partnership approach and how to manage new as well as existing partnerships.
Using private aircraft – anything from large intercontinental business jets down to single-engine piston aircraft – to meet the transportation needs of family office principals, employees, and guests can provide enormous benefits in time, security, and convenience. The ownership and operation of such aircraft, however, can be quite complicated.
A Family Office is all about providing a tailored, bespoke experience to the family. How does a family office extend that into the digital world? Technology tools, when properly implemented, can provide the personalization needed to create a greater sensation of comfort and higher satisfaction for the family. The right offering can demonstrate the value-add a family office provides and add to the services the office can offer without increasing costs.
Attracting and retaining talent is the #1 Human Capital challenge in family offices today. Please join FOX principal researcher and Managing Director, Jane Flanagan and Bruce Benesh, Partner-in-Charge, Human Capital Services, Grant Thornton LLP to find out what 151 of your peers who completed the 2016 FOX Family Office Compensation & Benefits Survey are doing to attract and retain key talent. From flexible work options to incentives, this session will update you on the latest trends in family office compensation.