FOX’s 2017 study on The Shifting Talent Paradigm: How Advisors Are Redesigning Their Talent Strategy can serve as a great resource for those seeking insights on what is changing the advisor labor market and how they can shape the best talent strategy for their firm. This report is organized into four sections:
Client Experience and Expectations
Resource Search
10 Steps to Create a Robust IT Security Program
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In the last few years, hackers and cyber criminals have become much more sophisticated in how they steal private information, which has led to massive data breaches. These data breaches not only cost an organization hundreds of thousands of dollars in fixes and possible fines, they can ruin a long-established reputation in a matter of hours. Putting in place a robust IT security program will help protect the personal information you maintain from being stolen and misused.
Navigating the Wealth Management Landscape
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The nature and variety of investment alternatives, ever-changing tax laws and rigorous regulatory constraints make the work of managing multigenerational wealth more complex than ever. The common use of the term “wealth advisor” makes it difficult to distinguish between product providers and independent advisors who are paid to look out for the owners’ best interests.
The Future of Work—A Journey to 2022
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Tremendous forces are radically reshaping the world of work. Economic shifts are redistributing power, wealth, competition and opportunity around the globe. Disruptive innovations, radical thinking, new business models and resource scarcity are impacting every sector. Businesses across the world are beginning to understand that they need a clear and meaningful purpose, and mandate for the decade ahead if they are to attract and retain employees, customers and partners.
Maintaining successful communication during disruptive times as we’ve all experienced this year, requires a strategic approach of knowing how and when to reach out to clients via email, text, phone, or face-to-face meetings.
Elements of Sound Performance Management: Goal Setting, Performance Improvement and Performance Reward Systems
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Succession planning, development of the next generation, finding and keeping key staff members… all seem to be constant quests in the Family Office. In this session, we explored how to incorporate helpful goal setting principles in creating expectations for your staff and apply practical tips for providing effective performance feedback within your organization.
Succession - Taking a Broader View
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Single family offices are increasingly faced with the topic of succession whether triggered by an upcoming departure of a family office executive or a broader transition in generational family leadership.
The revolution of the “information age” has created tremendous advantages and helped accelerate innovation, but it has also brought with it new risks—namely cyber attacks. While the corporate attacks get most of the media attention, do not forget that individuals—especially the high net worth—need to be vigilant about cyber security. The good news is that there are ways for individuals to protect against cyber risks. This paper touches on the key threats to the high net worth and provides advice to help reduce the associated risks.
Protecting Your Business Against Data Breaches
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Data breaches have become an accepted fact of modern business. According to the Privacy Rights Clearinghouse, twenty-nine businesses reported data breaches in August of 2016 alone. No industry was safe. For many organizations, the question now is not “if,” but “when.” This year appears to be on pace to surpass the number of breaches reported last year. With that in mind, there are concrete steps an organization can take to mitigate the cost of a breach that could occur later.
QuickBooks and Excel are a common software pairing for family offices that seemingly has cost, flexibility and familiarity on its side. However, the disadvantages of this approach soon begin to outweigh the benefits. The fact that close to 90% of spreadsheets contain errors in at least 1% of all formula cells means considerable hidden risk. Plus, family office demands on QuickBooks tend to quickly exceed its functionality and the spreadsheet as de-facto reporting tool can only work for so long.