From potential family office regulations to the Corporate Transparency Act, it seems new proposed legislation impacting family offices will continue to emerge. This panel examines the legislative shift that is placing the burden on family offices as well as what the implications are to existing and future family office structures, compliance, privacy, and reporting. Panelists also discuss what is being done in Washington to bring an industry voice and balanced perspective.
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Welcome to the Forum | 2022 FOX Family Office Forum
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Welcome to the 2022 FOX Family Office Forum. Peter Moustakerski, CEO, FOX Glen W. Johnson, President of Membership, FOX
Real Estate Direct Investment in the Family Office
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Real estate as an asset class requires constant attention to ever-changing variables. Implementing a defined, analytical, yet flexible asset management process within your family office’s direct investment function is critical to ensure your portfolio is positioned to meet intended goals.
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.
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. Bank Moderated by Scott Winget, Enterprise Market Leader, FOX
Family Offices: Best Practices for Philanthropy
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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.
Sharing a Family Office Advisory Relationship?
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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.
The Changing Role of the Chief Investment Officer
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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.
By implementing proactive controls, organizations can minimize the chance of falling victim to a ransomware attack. This guide explores these eight leading cybersecurity practices, with critical steps to take and tips to incorporate into your approach: Know your environment Keep your data backups safe Implement a patch management program Build a security-aware culture Assess control and authentication Monitor, detect and respond Implement a ransomware recovery strategy Consider ransomware insurance