Fox interview with Matthew Davidson (Kaplan family) and David Patterson (Choate family), from their of offices in New York City.
Resource Search
Fox interview with the Donahue family and Harry Sichi in Pittsburgh at Harry's office.
The question Virginia “Ginny” Esposito, Founder of the National Center for Family Philanthropy, gets asked the most, is “How can I engage my family in philanthropy?” In this episode, Ginny highlights what family business is and common trends in the work she has been in for over 30 years. She has lots of wisdom for parents and great resources, whether you are just getting started or if you’ve been giving for decades.
Families of wealth and business-owning families report that privacy and security of personal and financial data is a concern, yet few report confidence that these risks have been mitigated. This guide is designed to help families, family offices, and family enterprises integrate a security strategy in a code of conduct framework that is responsive to the family’s risk and intrusion tolerance that comes with living in a digital world.
Succession planning for a family business inevitably requires planning for the transition of the management team. This transition presents several challenges, including dealing with non-family managers and with a family member who is not suited for a leadership role in the business. These difficulties are not insurmountable, and, with clear communication, careful planning and assistance from advisors, the family will end the planning process with a stronger and more successful management team and family business.
The 2018 U.S. Trust Insights on Wealth and Worth® study asked nearly one thousand high-net-worth individuals about their approach to building wealth and the extent to which they are using it to achieve their goals and support the causes they care about most. The study found that while wealth provides the freedom to do more, it also brings increased obligations, expectations and demands.
It is often thought that financial success comes with a certain level of financial freedom: the freedom to pursue passions, to take risks, to give back, and to make an even bigger impact. In the 2018 U.S. Trust Insights on Wealth and Worth® survey, the results revealed that only half of high-net-worth individuals have a plan to optimize the opportunities their wealth provides.
Stories that are passed down from generation to generation are a way to create a family legacy that will be remembered long after we are gone. These stories are precious in understanding who we are and where we came from. Too often, the people who hold the keys to family stories lose details to memory loss or pass away before their histories can be recorded. Vacation time and the holiday season are ripe opportunities for families to seize the moment to capture family history across generations.
The importance of connecting with your children, whether they are ten years old or sixty years old, never diminishes. The investment you make in them comes back ten-fold in the family office setting and in innumerable, intangible ways in your life with them. A filmmaker translates her right-brain know-how to a left-brain playing field—the tax attorneys, wealth consultants, and risk strategists—on how to connect with the rising gen.
Impact investing uses investment capital to solve social or environmental problems. Such investments often promote renewable energy, food, water, health, and economic development. While once of interest to a relative few, impact investing has gone mainstream and, according to US SIF, now accounts for more than one out of every six dollars under professional management in the United States.