Today’s young adult family clients – specifically those who identify as Millennials or Gen Y – are bringing a distinct set of preferences and sensibilities to their relationships with their most trusted advisors. While the value proposition is essentially the same for this group as it is for their parents and has been for their grandparents, sophisticated family leaders, experienced family office executives, and state of the art wealth advisors know that in order to engage Millennial family members, they must meet their expectations for how that value is delivered.
Fox Research
The State of the Art in Family Wealth Management is a great resource for those who need to better understand what it means to be an “enterprise family” and understand how to work within a Family Enterprise Framework. Inside you’ll find the big picture view of the work that families need to be prepared to do, where families need to focus their efforts, and how families and advisors must work together.
FOX Insights contains condensed versions of some of the best and most popular research and presentations offered by FOX during the past year. If you can only afford to read one FOX publication this year, FOX Insights is an excellent choice.
Family wealth advisory firms are taking a fresh look at how they approach and staff their sales function to meet the increasing demands for growth. Up until now, many firms have not had a clearly defined sales culture. Relationship managers have been responsible for servicing current clients as well as courting new business. While these managers have not viewed sales as their first priority, their organizations have recognized the need for more new business, which is leading to a change in industry sales models and greater specialization in sales roles. This study:
Marketing plays an increasingly important role in determining sales success for private wealth advisory firms. Many firms have enhanced their service offerings and have a compelling new “story” to tell. At the same time, new entrants continue to crowd the marketplace, making it more difficult for prospective clients to distinguish among service providers. This study:
Family office executives are always looking for ways to improve their financial reporting packages and their client relationships. This best practices document reflects the work of 20 members of the FOX Financial Executive Council™ who gathered to learn about how one’s learning style impacts the creation and delivery of financial information and to develop a "best in class" reporting package. This comprehensive document includes a client meeting checklist as well as exemplary quarterly, annual, and supplemental reports that can serve as models for other family offices.
This study is written for the small office executive or wealth owner running an office with seven or fewer employees who wants to better understand their office's performance relative to others of similar size. It provides:
The 50 Best Practices for an Enduring Family Enterprise are the practices that we believe have contributed to the multi-generational success of the highest achieving and most forward thinking families that we know. Case studies, exhibits, and peer benchmarking data are also included to assist you in assessing the relative importance and state of these best practices in your office.
The result of one year of research and study with ultra-wealthy families, this landmark report by FOX not only examines the need for thoughtful, intentional preparation for ownership but also provides proven strategies for sustaining family wealth for multiple generations. This report includes: