The Private Wealth Management Survey is conducted annually by FOX and The University of Chicago Booth School of Business and samples alumni of Chicago Booth’s Private Wealth Management course, a four-day program offered in downtown Chicago for high net worth individuals and families. This year’s stu...

The private family trust company (PFTC) has become a popular and useful vehicle to provide trust administration to ultra high net worth families. There are many issues to consider when deciding whether to create a PFTC. These include:JurisdictionMany states have enacted laws specifically desig...

Sometimes the greatest challenge for a family is to agree on how they will measure the “success” of the enterprise in each generation. The metrics of success should be tied to the current goals and priorities of the family, since they must be viewed in tandem. We can’t expect strong family leaders t...

As the family grows, both in number and wealth, it is critical to address the management of the family’s personal financial future with the same diligence that goes into managing the future of the business. So when should you separate and move your financial affairs away from the family business?&nbsp...

If any of the following situations are familiar to you, you probably have a family office embedded within your business.There is a department within the company referred to as “shareholder relations”Certain employees are dedicated solely to working with the family without other business-related respo...

In recent posts we’ve looked at what separates extraordinary wealth advice from the industry norm. Several industry leading advisors gathered with a select group of family office executives to tackle this issue at our most recent FOX Thought Leaders Council Summit. They concluded that state of...

Late last year several industry leading advisors gathered with a select group of family office executives for our annual FOX Thought Leaders Council Summit. They tackled an interesting question: What separates the best wealth advisors from the merely average? What they found was that high performanc...

The 2013 FOX Thought Leaders Council brought together representatives from sophisticated family offices and industry leading advisors with the goal of identifying the state of the art in private wealth management. They discovered that while on paper the services offered from one firm to the next are...

Recently key figures from leading advisors in the private wealth management industry gathered with executives from several sophisticated family offices for our annual FOX Thought Leaders Council Summit. The attendees met to discuss what constituted state of the art wealth management. What they deter...

Assigning a business executive to manage or coordinate personal financial or administrative affairs can be problematic for several reasons: Lack of alignment of interests between the business and the family – The personal goals and appetite for risk-taking of some owners may not align with the i...