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Cybercriminals targets the financial industry 300 times more frequently than any other industry, resulting in mega breaches and millions of records stolen through hacktivism, malware, social engineering, phishing, and other applications. The harsh consequences of remaining vulnerable to cybersecurity breaches are costly, and the number one threat t...

Strong cybersecurity for protecting sensitive client data is a critical capability for any Registered Investment Advisor firm. In 2013, Hardy Reed—one of the first firms to earn the Center for Fiduciary Excellence certification—considered cloud services as an option for its IT needs. They wanted to look at alternate options to replacing...

When a family needs to add to their domestic staff, they often call upon their family office for assistance in overseeing the process. This paper from Mahler Private Staffing provides an overview of the steps involved in hiring domestic staff, as well as questions to ask when assessing search firms.

To be competitive, advisors need to determine and consistently demonstrate what makes them unique and relevant to ultra-wealthy clients. This workbook from Natixis Global Associates helps advisors define what they stand for, understand how they are perceived, determine the priorities and needs of clients, create a personal brand message, develop an...

This PriceWaterhouseCoopers study of global private banking and wealth management provides insight into the themes and trends affecting the world of wealth management as well as practical suggestions for actions wealth managers should be taking. The study is conveniently divided into six sections covering performance, client service, products and s...

In the latest issue of Private Banking Newsletter, Baker & McKenzie examines the case of Centre Trustees (CI) Ltd & Another v Van Rooyen & Others, in which the Royal Court of Jersey endorsed the removal of the protector who had put himself in a position where his own interests were in serious conflict with the interests of the trust beneficiaries.

The crisis of confidence in private banking has some obvious causes. It also has one not so obvious remedy: change the ownership structure. This remedy, however, requires a high level of involvement in all aspects of the business. For those families willing to make the commitment, Mutual Private Bank says, the only confidence that matters may be in...

GenSpring reports that despite increased market volatility and instability on global markets, threats of inflation and recession, the age of affluence is upon us. It further argues that men play a central role in decision-making of most affluent families. Understanding their attitudes, views and practices may therefore help us to understand their f...

This research brief reports on declining UHNW client satisfaction levels among their wealth advisors and private banks.

This IBM report argues that many client relationship managers do not actively sell their firm. IBM also contends that there is a tremendous opportunity for wealth management firms to strategically use client attitudinal information to target and improve high-impact service interactions. Firms that get it right can strengthen their ability to improv...

Even with the recently enacted financial industry reform legislation, prudent investors should evaluate whether their advisors are truly acting in their best interest by examining nine areas in which a conflict of interest could exist.

A method for determining the complexity level of a prospective client and evaluating if they are a good fit for the firm's services.

As part of our commitment to help the community of those who serve Ultra High Net Worth (UHNW), we recently completed our annual Family Wealth Advisor Survey (FWAS). The 146 respondents to our most recent survey shared valuable insights into the health of their businesses, the challenges they are facing, and what they are doing to build and stre...

Join FOX for our second quarterly town hall of 2024, hear the latest news about FOX membership, new and helpful services and benefits for members, and FOX leadership observations on our community and our industry. Most importantly, please join us to ask any questions or share any thoughts and feedback pertaining to FOX membership, services, benefit...

Whether you and your family split financial responsibilities or delegate them to one person, it is critical for your family members to have access to all your financial information. Use this guidebook created by Northern Trust to detail the location of important documents, accounts, and plans. Designed as a fillable and easy-to-update resource, it ...