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Following the enactment of the Corporate Transparency Act (CTA), the U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) explained that the CTA and FinCEN regulations "would help protect the U.S. financial system from illicit use by making it more difficult for bad actors to conceal their financial activities th...

Employers need to be mindful of building culture as they embrace hybrid work. In this conversation, business leaders explore the topic and discuss the critical aspects of engaging employees in a hybrid work environment. They stress the importance of demonstrating company culture, fostering collaboration and innovation through purposeful in-person m...

People are critical to a family office’s long-term success. However, recruiting top talent continues to be a great challenge when there’s a shortage of top talent in a tight labor market. Compounding the problem, many family offices lack robust training and development plans to prepare next-generation family members and existing employees to step i...

Family offices continue to be the preferred way for ultra-high net worth individuals and families to manage assets and to support the goals and legacy of their family. But with more than 14,000 family offices across the globe facing new challenges and complexities, raising concerns about whether their operating model is providing the transparency a...

As family offices turn their attention toward achieving operational excellence, they are facing tremendous challenges and opportunities to maximize efficiency and productivity across the enterprise amid constant change and uncertainty. As shown in this report by RSM, it’s the technology and talent considerations that rank as a top concern for many ...

The unique and personalized nature of each Family Office can make it challenging to access benchmark remuneration data. Family Offices require a distinct skillset, incomparable to other working environments, and many professionals that Family Offices search to recruit are accustomed to a certain compensation structure. This informative report by KP...

Given the latest court decisions in Delaware and the Federal Trade Commission’s announcements on restrictive covenants, it’s becoming clear that employers will need to rethink or halt their non-compete restrictions and clauses on employees when it comes to their HR policies and procedures. Although the Delaware Supreme Court has not yet...

Wealthy families have a significant positive socio-economic impact around the world, but lasting impact depends on those families prospering for generations. This is not guaranteed, however, and more intergenerational wealth transfers succeed if families adopt a modern Family Office model that suits their needs and goes beyond managing and gro...

For families with substantial diversified portfolio investments, costs are an important consideration when devising an overall wealth management strategy. While there are a range of cost estimates drawn from real world examples, each family’s wealth management cost formula is different when analyzing it through a framework and analysis of four part...

Retaining and recruiting top talent has been a challenge for employers over the last few years, with companies struggling with how to best hold onto and reward employees. Even though there have been some layoffs, many employees are finding new positions quickly and negotiating their compensation and benefits. With a broad range of compensation vehi...

On September 29, 2022, the Department of the Treasury’s Financial Crimes Enforcement Network (“FinCEN”) issued its Final Rule implementing the beneficial ownership information reporting requirements of the Corporate Transparency Act legislation. The Final Rule brings about significant revisions to the U.S. anti-mone...

On September 30, 2022, the Department of the Treasury issued final rules addressing the scope of the reporting requirements for beneficial ownership and control of entities provided under the Corporate Transparency Act (CTA), which creates more clarity for families looking to understand their reporting requirements and potential exceptions. While t...

The use of a specific ownership structure to provide for the deduction of investment management fees has evolved since 1941 to most recently in 2018 when guidance was provided by the U.S. Tax Court in determining whether the activities of a family investment management company constitute a trade or business. With a review of the details of tha...

Employing service providers in your home carries considerable risk. If not handled with extreme care, the process of hiring, termination, and managing day-to-day responsibilities can create liability—and even result in claims of discrimination and retaliation by the employee. This report provides a snapshot of an increasingly complex employment lan...

With the signal of a looming recession, forward-looking employers are preparing for a change in course regarding labor challenges. Taking steps now to prepare for the possibility of future workforce reductions will help companies lower their legal risks. Understanding the nuances of the WARN Act, proper documentation of performa...