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In light of the increased cyber fraud of email accounts, firms should adopt client callout practices to confirm third-party wire requests received through email. Faxes, voice mail messages and emails should not be used to verify wire transactions. Client education makes these types of money movement controls more acceptable and encourages clients t...

For wealth management organizations, the slow growth in number and assets of their target client pool is disconcerting news after a brief period of great opportunity for those firms with the proper skills and support infrastructure. The challenge going forward will be to demonstrate to existing and prospective clients that they can provide a compel...

Technology has always outpaced regulation, and social media is no exception. This paper examines the main social media outlets, provides tips for advisors that choose to navigate these sites and lays out a best practices framework for developing a comprehensive social media policy.

Wealth management decisions carry an inherent risk for all investors but especially for ultra-wealthy families that require the services of a range of providers. Regardless of the advisory firm a family selects, it’s in the family’s best interest to ensure that, above all, the firm adheres to five core fiduciary principles of wealth man...

With an estimated 82,000 variations of viruses and malware released every day by hackers, how can you keep your client data secure? There is no room for complacency when it comes to the security of your client data, yet it is easy to become apathetic when nearly every day another cybersecurity breach is reported. This article provide...

Family businesses are an essential source of prosperity and stability to both our global economy and our society. The characteristics and practices of large, long-lived family businesses serve not only as a model for other family businesses but also for all companies that aspire to maintain an entrepreneurial spirit, innovate and maintain growth. T...

Effective Board oversight demands information that is current and relevant. However, the natural gaps that exist between what management communicates to the board and what the board needs to know, often creates inefficiencies and ineffectiveness of oversight. This report tackles these issues of disconnect between management and the board and offers...

A new era of family wealth has driven an explosive growth opportunity for providers and placed far greater demand on their resources. This webcast will cover our perspectives on the changing nature of demand among families of wealth, check-in on the health of the UHNW business and discuss how firms balance growth and demand in this new era. Thom...

Explosive wealth growth and escalating client demands are collectively impacting the course of the Ultra-High Net Worth business. ​This webcast will discuss some of the challenges presented by this shift in our industry. Will this new shift cause a meaningful departure from common past practices and spur the adoption of new ones? How prep...

One of FOX’s invaluable member benefits is the peer perspective gleaned from participating in FOX surveys. Jonathan Tunner, Director of Private Investment Opportunities at FOX, and Scott Muench, the market leader for Financial Families at FOX will share the key themes that emerged from this year’s annual Global Investment Survey.

The ultra-wealth business continues to perform well, but not without some growing pains. While advisors to families of wealth benefited from a strong rebound in the markets during 2020, for some firms costs are rising faster than revenue. Now that we are in the midst of a receding pandemic, what does this look back on 2020 tell us about how prepare...

FOX’s annual Global Investment Survey was divided into two segments, launched in February and March 2023, respectively, to the FOX community. The surveys fielded until the end of April 2023. Please note that the 2023 FOX Global Investment Survey data pertains to investment activities and performance during calendar year 2022.

When developing a model coronavirus response plan, there are three areas family businesses and family offices should consider. In addition, it is important to have an FAQ communication for employees. A sample FAQ is provided, keeping in mind that each employer will have different answers to the questions asked based on its unique consider...

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act") was signed into law. The CARES Act provides emergency assistance to individuals, families, and businesses affected by the COVID-19 pandemic. The CARES Act is divided into two divisions: Division A includes programs to benefit individuals, companies, an...

COVID-19, also known as the coronavirus, has caused unprecedented global disruption. Keeping your stakeholders informed with clear, consistent messaging is essential for risk mitigation, so be sure to use a crisis communication strategy.