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COVID numbers have turned up – for the worse. Given the large spikes in new cases, hospitalizations and positive test rates across the United States, it is difficult to ignore the conflict between economic growth and crushing the pandemic. This tension between economic growth and efforts to stop the virus have been evident since the coronavirus sta...

In our May 26th FOX Virtual Member Exchange, we discussed the factors to consider when planning to open your Family Office. The below steps are critical to consider in addition to monitoring state and local regulations. In addition to working with your building management team, there are also guidelines that the Centers for Disease Control (CDC) as...

We have come a long way from the days when Artificial Intelligence (AI) was primarily a research project in academia or in the corporate world, and the size of the market opportunity was unclear. Today, the transformative power of AI is well recognized and the dollar value generated by AI is estimated to be at least a $3 trillion dollars annually (...

What are the primary business challenges that your solution addresses? Addepar is a reporting solution for a broad range of advisor and family office needs, with the ability to provide a comprehensive but also simplified picture of complex wealth. Their technology is distinctive in how it recognizes very unique investments, like private eq...

What is the biggest impact your solution is having in family offices? SEI Family Office Services is a technology and outsourcing provider using the Archway PlatformSM to aggregate family assets and serve as a central data hub for accounting and back office services. By providing families with integrated data aggregation, families can ha...

What are the primary business challenges that your solution addresses?Knowledger is a technology tool that efficiently moves data from a custodian source, housing the data, and creates all the journal entries into your general ledger. Knowledger provides a digital solution to manage the massive amount of data to be entered into a firm’s general led...

What is the biggest impact your solution is having in family offices? Masttro is a wealth management financial technology company, originally developed by a global multi-generational family office. Today the technology is used by a diverse group of family offices across 24 countries. The platform offers a comprehensive and interactive view of tota...

What are the primary business challenges that your solution addresses? Founded originally by a family office 130 years ago, Northern Trust is a global financial services company, serving clients across the US and throughout Europe, Asia, Australia and the Middle East. Northern provides holistic family office technology, coupled with deep expertise...

What is the biggest impact your solution is having on family offices? Sage Intacct is a best-in-class cloud accounting and financial management software solution that provides powerful, measurable value to family offices. One family office, a real estate investment firm, gained vastly increased revenue using Sage to more quickly conduct monthly cl...

In June, the IRS announced that it will begin a new campaign to audit hundreds of high net worth individuals after they reopen their offices on July 15th, 2020. To learn about who should be concerned and what to do, Scott Winget, Enterprise Market Leader for Family Office Exchange interviews Leigh Griffith, a partner with Waller Law. Leigh recently...

The Covid-19 pandemic has undeniably impacted client service across the globe. As various trends emerge from this new normal, one issue wealth management firms must address is technology. How are the most successful firms approaching technology and innovation? And is my firm on the right track?The pandemic proved the necessity of serving clients di...

In today’s fast-paced and media-driven environment, wealth advisors see themselves as everything from a trusted partner to an educator to a financial therapist. Today’s advisors must be great listeners, crisis managers and transparent communicators. They must have a high IQ, and an equally high EQ. They must provide accurate, quick information to c...

The top three best practices in developing relationships are active listening, emotional intelligence, and building trust. Neuroscientific research on oxytocin – the trust and relationship molecule – reminds us that in every initial interaction with a human being we have two subconscious questions:Do I trust this person?How do I get them to trust m...

Wealth advisors round the globe are asking, “How do we connect with our clients in a meaningful way, when we can’t be in the same room?” In this new world of increasing virtual reality, screen fatigue is real, and advisors have had to quickly pivot and rethink how to meet the needs of clients, while building trust and staying connected.Even before ...

Why is it when two people experience the same event, one person is overwhelmed and stressed, yet the other person is fine, and might even grow from it? What are these two people doing differently?Now more than ever, as we grapple with the incredible disruption of Covid-19, people are raising the question of resilience – can we come out the other si...