Family Office

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Engaging the Client of the Future
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Today’s young adult family clients – specifically those who identify as Millennials or Gen Y – are bringing a distinct set of preferences and sensibilities to their relationships with their most trusted advisors. While the value proposition is essentially the same for this group as it is for their parents and has been for their grandparents, sophisticated family leaders, experienced family office executives, and state of the art wealth advisors know that in order to engage Millennial family members, they must meet their expectations for how that value is delivered.

Understanding Currency Risk: A European Family Perspective
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Currency risk is a fact of life for European families. Today even the simplest diversified portfolios include foreign currency exposures. Many investors find it tempting to ignore currency risk, believing that it will all “even out in the end.” But this is not an option for most families who need to draw down funds from the portfolio to meet distributions to beneficiaries. Even for families with no current spending needs, it is still prudent to manage the portfolio’s currency exposures in line with its likely long-term liabilities.

Building or Renewing Your Board
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Boards can assist with some of the particularly challenging issues family companies face. There are several different factors that should be considered as a board is created or renewed. While each family company’s situation is unique and every scenario cannot be addressed, the goal is to provide a framework of how corporate governance practices apply to family companies.

What is a Board's Role in a Family Business?
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This Family Business Corporate Governance Series "What is a Board's Role in a Family Business?" explains how to build an effective board for your family company, and how boards can assist with some of the particularly challenging issues family companies face.

Finding the Clarity, Courage, & Confidence to Leverage Top Talent
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Pitcairn and The Corporate Greenhouse have co-written a case study that validates why talent planning and business planning are equally important and interdependent. The case study discusses how Pitcairn’s CEO is transforming a 90-year-old family business into a high-performing multi‑family office with increased profitability, streamlined processes, and happier employees.

Simplifying Securities Regulation of M&A Brokers
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Business brokerage services are critically important to the liquidity of small business ownership, business growth, and related jobs preservation and creation. Baby boomers are faced with the prospects of either selling or closing their businesses to retire. Small business owners need and rely upon the professional services of merger and acquisition intermediaries, advisors, and business brokers (together, “M&A brokers”) to advise about and assist with the sale of privately owned businesses.

Results from the 2014 FOX SFO Benchmarking Study
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Please join FOX senior managers Jane Flanagan and Mariann Mihailidis to learn about the key findings from the 2014 FOX Benchmarking Study with highlights from the following best practice areas: Oversight and Governance, Complexity and Cost, Wealth Sustainability, Owner Engagement and Education, Client and Staff Satisfaction. FOX has conducted a peer-based survey to explore the total cost of wealth management and industry compensation and benefits data for most family office positions.

Case Study: Metrics for Measuring Value in the Family Office
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Julio Cazorla will share some of the leading practices implemented by the family, including the Critical Controls Checklist that his management team uses to manage key projects in the family office.We will review their Human Resources process for Performance Management and Performance Measurement and Julio will discuss how firm-wide metrics are developed for the managers of the office.

Building a Comprehensive Family Office Communication Plan
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Members of the US Executive Council will lead a session that describes how a group of 30 leading family office executives worked together to develop and later to refine a Family Office Communications Plan at their two meetings this year. The plan provides a compilation of the best thinking of the Peer Council members, using the 20+ years of experience that each participant brought to the discussion. There are action steps for the Family Board, the Family Council, the Investment Committee, the External Advisors, and the staff relations with both family members and other staff members.