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This webinar analyzed the meaning and understanding of “situs” as it relates to Private Family Trust Companies, and focused specifically on the concepts of trust company situs, trust situs, and tax situs. Many people, in and out of the trust industry, utilize the term “situs” without a clear understanding of its many meanings. The speaker evaluated situs in terms of three relatively easy to understand precepts: trust company situs, trust situs, and tax situs with a focus on what to do “in” and “out” of a particular to state.

Inadequately checking the background of a prospective family office employee or performing an improper background check can be hazardous for a family office, resulting in claims of negligent hiring, reckless endangerment, and possible scrutiny from the EEOC, OFCCP, and the courts.

What do families tend to underestimate or overlook in the due diligence process? A single misstep in understanding the market the target business operates in, evaluating the sustainability of product line and customer level profitability, or assessing and motivating the management team, can wipe out a generation of wealth and reputation. Jason Abbott and Bill Clogg from FTI Consulting’s Transaction Services practice led a discussion on the most critical commercial, operational and financial due diligence steps involved in acquiring a business or property.

This webinar gave an overview of how family offices have been “chasing Yale” in pursuit of double digit portfolio returns.

FOX’s annual estate planning review session for 2017 featured Tom Abendroth of Schiff Hardin and Susan Gell Meyers of Warner, Norcross & Judd. They led FOX participants through a thoughtful discussion of some of the most important topics and developments that were covered at the 51st Annual Heckerling Institute on Estate Planning. Key legislative, regulatory and case law impacting family offices were discussed, including: the potential impact of the 2016 election; an update on IRC Sec.

Many are nervous, curious, and even excited for the potential impact of the Trump administration on their portfolios and the economy. In this Hot Topic Webinar, Stephen Kolano of BNY Mellon Wealth Management led a discussion on some of the major events and highlights that set the stage for 2017, plus the key catalysts to watch for in the coming year. In addition, he dove into the policy and geopolitical issues affecting our industry, both domestically and globally, as well as investment implications and areas to consider regarding portfolio positioning.

A critical element of Family Office Exchange’s work is to identify trends and issues that have immediate and future impact on families of wealth. In this session, originally presented at the 2016 Fall Forum, Alexandre Monnier explored the trends emerging in the family wealth industry and how these trends will impact families today and well into the future, what families will need to do to prepare for these inevitabilities, and how these trends link to the family/advisor partnership mindset.

Using private aircraft – anything from large intercontinental business jets down to single-engine piston aircraft – to meet the transportation needs of family office principals, employees, and guests can provide enormous benefits in time, security, and convenience. The ownership and operation of such aircraft, however, can be quite complicated.

Everyone agrees that a written investment plan is a good idea, yet according to recent FOX surveys only 40% of families utilize a written plan. Why are investment policy statements (IPS) avoided by so many families? What are the component parts of an effective IPS? What does a traditional IPS look like versus a modern iteration? What can families do to make the documents integral to the investment process? What are the IPS best practices?

A Family Office is all about providing a tailored, bespoke experience to the family. How does a family office extend that into the digital world? Technology tools, when properly implemented, can provide the personalization needed to create a greater sensation of comfort and higher satisfaction for the family. The right offering can demonstrate the value-add a family office provides and add to the services the office can offer without increasing costs.