Families hire family office staff with the expectation that the office keeps their information, assets, and reputation protected. To safeguard the families’ interests, it’s critical for family offices to ensure that internal controls take the pragmatic approach, starting with four main areas: segregation of duties, transaction volume, managing complexity, and succession planning.
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A private family trust company (PTC) often serves as an excellent governance framework and corporate structure for a virtual family office (VFO) by providing integrated, holistic oversight of fiduciary, investment, tax, philanthropic, governance, and other activity. Learn more about how and why families choose to form a VFO around their PTC, the concept of a VFO Manager, the benefits of a PTC-VFO structure, and roles within a typical structure.
Sharing, documenting, and preserving family narratives are an important part of wealth planning and governance. This session explores how family histories can set a foundation for connection and continuity.Karen McNeill, PhD, Managing Director, Family History, Ascent Private Capital Management of U.S. BankModerated by Scott Winget, Enterprise Market Leader, FOX
Family offices are often tasked with managing a family’s philanthropy but may have limited knowledge and resources. Several best practices can help both families and family offices lead philanthropic efforts to heighten their impact.
The Family Office 5.0 model is changing how advisors deliver services. Strategic partnerships can help family office service providers better focus on delivering core value-added offerings. A roadmap toward that goal will help you meet the evolving needs of family offices and provide best-in-class services.
As families grow their investment function, the Chief Investment Officer (CIO) must provide insight and flexibility to serve varied and changing investment platforms. While much of the CIO’s role is focused on investments and the investment decision-making process, many CIO responsibilities aren’t investment-centric and will impact the long-term success of the investment strategy—and therefore the long-term success of the family office as it continually evolves to meet its mission, goals, and objectives.
Welcome to the 2022 FOX Global Investment Forum.Peter Moustakerski, CEO, FOX Jonathan S. Tunner, Director, Private Investment Opportunities
As noted in The New Family Office 5.0 Model, a rising number of family offices are allocating resources to direct investments, including building an in-house direct investment function to gain greater control, better diversification, increased flexibility, and income and estate tax benefits.
It's not news to family office hiring managers that prepandemic employment challenges have only become more intense. COVID-19 just fanned an existing flame of empowerment and flexibility demands. Salary is no longer a potential hire’s biggest concern. When the postpandemic conversation becomes less about where work is done and more about how (and how well), thoughtful programs focused on health and wellness will become table stakes. If your organization doesn’t have a competitive total-compensation philosophy, be prepared to lose in today’s fierce talent war.
Over the course of more than 25 years, I’ve built a body of knowledge in family systems, adult-learning theory, executive education, and generational learning. From this vantage point, I have been able to witness how organizations and family-owned businesses across the country equip their future leaders. I’ve seen successes and failures. With those experiences, I’ve come to learn five things every family needs to know.