Building Your Enterprise Family
Many successful business families evolve over time to become enterprise families who embrace a long-term vision for their future together. Enterprising families see the connections between the entities they steward – the businesses, the investment capital, the philanthropic capital, and the recreational capital they own.
They are bound together by legacy, business, and community impact. They recognize the importance of investing in each new generation of owners, and redefining the enterprise with each new generation of leaders.
What starts out as a family business can gradually evolve into multiple businesses, major real estate holdings, multi-generational ownership structures, complex investment portfolios, as well as philanthropic and community involvement.
FOX guides families through a thoughtful way to create an Enterprise Family by helping them plan, organize and oversee a structure for these complicated activities while implementing a vision for the family’s future together.
Governance includes not only leading the family, but also training future leaders, developing goals and metrics and implementing a process for decision-making. The complexity of this endeavor increases as the family grows, and clearly defined governance principles can help support smooth transitions and alignment across the generations.
FOX offers workshops and resources to help families understand common governance practices, board oversight duties, and various ownership structures.
Family Office Best Practices
It’s often said “if you’ve seen one family office… you’ve seen one family office.” Each family office is unique because it is defined by the goals of the family who founded it.
Through more than 30 years of education, peer networking and monitoring industry trends, FOX has established a rich repository of best practices to draw on.
When successful families are asked what challenges them most, their first answer is frequently, “helping my children become productive adults.” Parents want to ensure that children are prepared for the responsibilities that come with wealth so that it becomes a source of opportunity and not a source of future stress.
Getting this right is not easy, but FOX is committed to helping families find the tools, resources and network needed to educate the next generation.
Developing a successful investment strategy goes beyond financial asset management, diversification, due diligence, and financial reporting. Integrating your family investment plan with personal, financial, and philanthropic goals is essential.
FOX delivers world-class resources to support self-directed investors and family offices in their investment decisions through education programs, peer networking, benchmarking studies and a direct investing network.
A key component to establishing a family legacy is often grounded in philanthropy. Charitable giving provides an opportunity for families to establish a mission based on their values, and invest in the community. Many families are also extending this perspective to their portfolios and looking closely at how their investments make a difference to the local community and the world.
FOX has made a commitment to impact philanthropy and plans to share best practices and resources to help families achieve their philanthropic goals.