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.
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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:
Preserving Your Family Legacy
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With some care and effort, your family’s story can live on and grow with each new generation. This article describes the process of creating a family archive: a treasure trove of historical information about family decendants, business accomplishements and important events. Helpful tips such as archival vendors and types of materials to use are included.
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:
Craig Cook of Oakbrook Solutions and Mark Rogozinski of RockIT looked at how progress is impacting back-office operations in the areas of strategy, standardization, reporting and cloud technology as well as the trends that are uppermost in the minds of family office executives.Key takeaways include:
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.
Throughout the United States and across the world today, high-net worth executives and individuals are confronting new levels of risk – from the continuity of their operations and the protection of their assets to the safety of their most valuable resource, their people. This personal security expert addresses the risks families face and outlines steps you can take to create a safe environment.
Business Continuity in the Wake of Hurricane Sandy
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When disaster interrupts your place of business, what contingency plans do you have in place to continue operations?
HR Matters
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Family and multi-family office executives often ask us for human resources best practices. Our panel of family office human resources professionals will share their perspectives on lessons learned, best practices adopted and legal parameters to be considered in managing employee relationships and the human resource function in the office.