CWP Management, Inc., is a busy family office based in Chicago, Illinois. They look after the financial affairs of 10 households and 31 family members across 3 generations, but an ageing IT infrastructure was weighing down on its president’s time and budget. When disaster struck and their data center was compromised, CWP used the opport...
The volume of information in businesses is doubling every two years, creating significant challenges for businesses of all types and sizes, including family offices. Besides the cost of storage, the information in records and data can pose risks that may surface in audits and litigation. One way to successfully tame the rising tide, is to implement...
Knowing what Wealth Managers find crucially important when structuring insurance solutions for their clients can help you differentiate yourself amongst this highly influential group of trusted advisors. The insights in this article can help you strengthen your referral network and increase your pipeline of UHNW business.
The first in-depth exploration from our global family business survey, “women in leadership” shows that family businesses believe in the value of women in leadership overall, not only women family members.
Everybody knows that people will live a lot longer in the future. But most of us don’t know exactly what we mean by a lot longer. Brace yourself, because the truth will surprise you. According to the Census Bureau, in 50 years more than 1 million Americans will live past the age of 102! The trend continues in Canada and across the globe. This...
In response to an ever-growing number of malicious and costly cyber-attacks on U.S. companies, both the Cybersecurity Unit of the Computer Crime and Intellectual Property Section of the U.S. Department of Justice and the Division of Investment Management of the Securities and Exchange Commission recently published reports providing guidance on how ...
Many people think of home care as something that applies only to frail elders; however, at least 65% of people who require home care receive this care after being discharged from an inpatient hospital stay. Home care recipients can be people of any age who are suffering from a chronic or an acute disease, as well as people&...
You have undoubtedly heard the horror stories: missed deadlines, shoddy work, cut-corners, items gone missing, and contractors walking off the job, just to name a few. Whether you are remodeling your home or building a new one, hiring the right person to head up your construction project is critical to a job well done. If you are planning...
Not long ago, we were more protective of our privacy. Following the advent of e-commerce, all that has changed. Today, we don't think twice about buying something online with our credit card or entering our personal information without giving a thought to who has access to this personal and financial information. This article provi...
In this news alert, the author, Perkins Coie, highlights that the SEC is expected to allow two separate exemptive orders being sought from the Family Office Rule with respect to distaff members of a family under the Investment Advisors Act.Because the distaff issue has the potential to affect so many single-family offices, the author believes this ...
Supportive and knowledgeable family members can be very influential in supporting a loved one’s recovery from addiction. With the help of a trusted addiction counselor, families can become “positive enablers” by developing a long-term recovery management plan, looking for effective treatment and identifying sources of leverage for...
Case management, a new concept in the addiction and behavioral health field, can significantly increase the likelihood of sustained recovery for individuals who suffer from chronic diseases such as alcoholism, drug dependence, depression and other addictive and behavioral disorders.
It is frequently suggested that that family offices should mimic institutions and adopt an institutionally disciplined and process-oriented approach when managing their investment portfolios. Through a process-oriented approach, institutions and family offices can be more effective and produce more efficient long-term results.While this concept is ...
The loss of a spouse to either death or divorce is one of the most traumatic experiences anyone can go through. Life will change irrevocably in many ways for the surviving spouse or separated partners. This article reviews often-neglected steps that may lessen the burden and financial issues that you and/or your spouse may face when this painful lo...
Plante Moran provides an in-depth look at password security and sheds light on some of the hacking tools out there. These tools are far better at guessing than you may imagine and, at rates of up to billions of guesses per second, much more persistent.So, what are our options? How can we combat this rising issue?No password is uncrackable. Given en...