Empowering the Rising Generation: Why Estate Planning Must Include Education Mindy Kalinowski Earley | March 1, 2025 Full article titled “Rising Gen Engagement and Education: An Essential Component of the Estate Planning Process” published in Investments & Wealth Review (March/April 2025), by The Investments & Wealth Institute®. The largest intergenerational wealth transfer in history—over $84 trillion—is underway. But here’s the catch: only 1 in 5 affluent investors stick with their parents’ financial advisor. Why? Because the rising generation (or “rising gen”) wants more ...

Author: Marcus Baram As family offices expand their reach around the globe, the need for a private jet for business and personal use has become even more of a necessity. It has also become easier due to the rise in fractional ownership and the growth of charter service providers such as NetJets, FlexJet and Vista Global. Family offices are also increasingly outsourcing key functions to specialized aviation professionals and demanding sustainable aviation that has less of an impact on the environment. In a recent survey by Airbus Corporate Jets, 75% of large family offices surveyed sai...

As family offices increasingly rely on software to manage financial data, just how secure are these solutions? Cybersecurity is a major concern for family offices, consistently raised in thought leadership pieces, global family office reports and discussion panels at conferences. A commonly quoted statistic is from last year’s Deloitte report stating 43% of family offices experienced a cybersecurity breach in the past 12 - 24 months. Having a plan to counter deliberate cybersecurity attacks is essential, but family offices also need to consider their data privacy when using the var...

In cybersecurity, there’s a common belief: the more valuable the target, the more determined the attacker. Family offices are increasingly in the crosshairs of sophisticated cybercriminals. These bad actors aren’t just after financial assets—they also target confidential investment strategies, legal documents, personal communications, and private family affairs. They are motivated by money, resentment, and their own notoriety. Family offices cannot underestimate their risk, assuming they are too private to attract attention. Their wealth, discretion, and perceived under protected digital in...

Author: Andrew Cohen The December killing of UnitedHealthCare CEO Brian Thompson has heightened concerns among high-net-worth families about the risks posed by their digital footprints, prompting many family offices to rethink their cybersecurity strategies. Thompson was shot Dec. 4 outside the Hilton hotel in Midtown Manhattan, where he was scheduled to attend UnitedHealth’s investors meeting — an event publicly detailed in company announcements. While authorities have not directly linked his killing to a cybersecurity breach, the incident has underscored how publicly available informat...

You spent six months selecting accounting software for your family office or firm. You just signed the contract, your team is happy, the principal is happy, and you’re looking forward to implementing the solution. One year later, you’ve held tons of training sessions and have had many headaches over this. Yet, the system is not live. Sound familiar? Unfortunately, this is a common story. In this post, we’ll talk about the realities of implementing any software, but specifically for family office accounting, and share the secret formula for a successful implementation. In a nutshell, it c...

Successful wealth management firms are often obsessed with efficiency, building and refining programs that enable each of their advisors to see more clients. But things are different for family offices, which traditionally focus on bringing highly tailored, holistic planning and concierge services to a smaller number of ultra-high net worth clients. This model has lent itself less to efficiency and scalability in favor of the kind of white-glove service that defies a one-size-fits-all system. But with recent advances in technology, including AI and new specialized tech platforms, today’s famil...

Family businesses are kind of like families themselves: They’re cherished, they’re precious, and sometimes they’re taken for granted by their various members. Families are complicated, and so sometimes it’s just easier to leave things the way they are. But the consequences of getting complacent about the engine that drives a clan’s prosperity are often graver than many realize. “As I see it, complacency threatens the value of a business in two different ways,” said Eric Czepyha, director of business services at Northern Trust, a Chicago-based financial services company. “One, you might be f...

If you’re new to making purchase decisions for software for your organization, it can be an overwhelming experience. Which software should you choose? How will you know which solution is the best one? What if you make the wrong decision? Maybe you made the wrong choice in the past and had to suffer through the experience of discovering that the software wasn’t a good fit for your company’s needs. Either way, selecting new financial software doesn’t have to be a stressful situation. When you follow a proven process, you can minimize the risk of choosing the wrong solution by doi...

With the results of the Presidential Election now behind us, it might be interesting to examine the impact past elections have had on financial markets and if there are any trends that might help us make more informed investment decisions during the next four years. Many wondered which candidate might have the greatest impact on the economy and capital markets. A popular belief is that Republican presidents are better for financial markets. While this belief holds water leading up to a Republican being named to office, it doesn’t hold true during the Republican term as markets, particularly...

When it comes time to hold a family office retreat as a tool to approach legacy planning, professionals within family offices who are tasked with planning that retreat often realize that it is a much larger undertaking than they anticipated. We’ve previously shared insights from experts at Bernstein Private Wealth on hosting a successful family retreat, including bringing in outside consultants to help structure what the experience can look like. Before you start planning your retreat, take a look at these key themes and insights we’ve rounded up from experts at Bessemer Trust, the Council ...

The family offices of today are facing unique and often underappreciated challenges in a world of complex and technology-assisted fraud. Despite not considering themselves prime targets, family offices are increasingly vulnerable, as they lack the extensive security infrastructure that large corporations possess. Without dedicated IT and security teams, they face threats ranging from phishing and internal fraud to property invasions. Threats to family offices also go beyond crime and fraud: Shifting geopolitical winds, which only appear to be getting more volatile as we...

Family offices have traditionally been a mysterious entity in the wealth management space. Designed to preserve privacy, exclusivity, and prestige, family offices seemed destined to remain under the radar, each operating to its own unique beat. However, as wealth continues to grow across a broader spectrum, the establishment of family offices is beginning to follow a more familiar tune. According to Deloitte’s Family Office Insights Series report, the number of Americans with a net worth exceeding $30 million grew nearly 10% in 2023, and the number of individuals worth more than $100 millio...

In the intricate world of family offices managing high-net-worth portfolios, Artificial Intelligence (AI) emerges not as a replacement but as a robust ally. AI augments human capabilities, offering precise data analysis and predictive analytics that aid in efficient decision-making. While excelling in data processing, AI's role is complementary, as it can't replicate the nuanced human judgment integral to family offices. By pairing AI's analytical prowess with human expertise, family offices can achieve heightened efficiency, strategic insight, and personalized service. In the ...

Family offices manage a unique set of challenges. With multi-generational wealth, diverse investment strategies, and a constant need for transparency, ensuring efficient and accurate reporting becomes paramount. Traditional reporting methods often struggle to keep pace with these complex needs, lead...

One of the biggest challenges facing family offices is educating the next generation in financial literacy, governance issues, finding their inner purpose and aligning their wealth with their values. Yet despite the fact that 60% of family offices say preparing the next generation for responsible ownership was a key concern, only one in five families has an education program in place for that purpose, according to a survey by Citi Private Bank. “Most concerning is the insufficiency of leadership succession planning for families and family offices alike and the lack of educational programs f...

This week, Family Office Exchange (FOX) recognized Katherine Dunlevie, Advisory Board Member of the UHNW Institute, and Scott Peppet, President of the Chai Trust Company, LLC, as the 2024 recipient of its Community Builder Award, Inspired by Glen W. Johnson, FOX’s former President of Membership. The award is presented to distinguished individuals with extraordinary business achievements and who demonstrate the following characteristics and values: Connector Inclusive Inspiring Effective Philanthropic Socially involved “It’s my honor to accept this award from FOX, an organization...

From Ohio school computers to nationwide hospital operations and Donald Trump’s presidential campaign, cyberattacks are compromising vast areas of society. Family offices are no exception, with ultra-high-net-worth individuals being a top target for criminal groups around the world. “Even though family offices might be small employee-wise, they really need to think of themselves like medium-sized companies, because the assets they control be be significant,” said Michael Ehrlich, former chief of operations for a cyber defense group at the U.S. National Security Agency. “It's surprising the ...

Keywords: ACT, wealth management, FOX, underserved, small business, housing Imagine a small business in an underserved community that wants to grow but can’t get a loan from a traditional bank. It’s the kind of company your family office would like to support—a builder of affordable homes, a grocer in a food desert, a youth center in an inner city—but there seems to be no practical way to get involved and make a difference. Thanks to a new program, large depositors like your family office can have your deposits placed at financial institutions serving minority and low-income communities ...

Where do SMA's stand in Q1 and Q2 2024? There is a common perception in the investment world that active managers have an advantage over passive managers during times of increased volatility, since active managers can go on the defensive, whereas passive managers have strict mandates to mimic an index. After an extended time period (2012 – 2019) where equity volatility, measured by the CBOE VIX index, traded below its 20-year average of 20.1, volatility increased during the peak of the pandemic. After a bout of low volatility in 2021, volatility surged above its 20-year average in 2022. ...

Today’s family office plays a far more complex role than merely overseeing financial stewardship. It has evolved into the family’s primary advisor, akin to the consigliere of old, expected to possess a holistic view of the family’s world. This encompasses navigating daily life, educating family members and advisors, identifying blind spots, and ensuring no crucial details are overlooked amidst all of the moving pieces. Additionally, it involves guiding the creation, preservation, and transmission of family values and legacy, as well as being prepared for smooth transitions and successions. And...

As we look ahead to fall, here’s a glimpse of what summer was like: Summer is when the valuation team prepares for the busy times ahead. While our work never truly slows down, we take this opportunity to help ensure we’re well prepared during the busy times. Our summer was full of initiatives like training analysts, getting acquainted with future talent through our intern program, refining templates, and exploring new ways to help our clients create, grow, and protect value. We also spent a little more time digesting economic trends and forecasts and considering what implications these vari...

Our very own CEO, Peter Moustakerski, was recently featured in Scott J. Allen, Ph.D.'s podcast, Phronesis: Practical Wisdom for Leaders, episode 243: Seeing Around Corners. Peter and Scott discus Navigating Change and Building Community, Maximizing Family Capital for Impact, Managing Complexity and Future Cycles, and Leading in the Family Context. Click here to listen to the conversation.

The Synergy of Strong Networks and Personal Development In Part 2 of our Love & Legacy series, we explore The Synergy of Strong Networks and Personal Development. This will be done by examining 3 specific facets of this synergy that we at Boutique Matchmaking encounter every day: via Leveraging Educational and Professional Networks in Matchmaking, balancing career success with personal fulfillment, and encouraging openness and philanthropy. Leveraging Educational and Professional Networks in Matchmaking The networks established through educational and professional achievements pla...

Love & Legacy When managing multi-generational wealth, the intertwining of love and family legacy presents unique challenges and opportunities for parents curious about how they can guide or positively influence their children's marital choices. At Boutique Matchmaking, we help navigate this sometimes-tangled web, and guide these conversations to constructive solutions for all involved. This 3-part series, entitled Love & Legacy, and starting here with The Delicate Art of Parental Guidance in Love, will explore this fascinating dynamic in-depth. We’ll delve in...