2013 FOX Fall Forum Agenda


Monday, October 28

This day is reserved for family members, family office executives, and Thought Leader Council members.

11:00 a.m.    Registration for family members, family office executives and Thought Leaders Council members
11:00 a.m.FOX New Member Orientation
12:00 p.m.Welcome Lunch Buffet
Family members, family office executives and Thought Leaders Council members
1:30 p.m.Pre-Forum Seminars


Pre-Forum Seminars provide opportunity for in-depth focus on key topics in a workshop format. Please register to participate in these sessions.

Seminar 1

Creative Engagement: Being Innovative to Foster Involvement
Janis S. Kanter, Joshua Kanter; and Jim Liautaud, Sr.  Moderated by: Michael Sallas, Director of Program Design and Development, Family Office Exchange

Families often complain about the challenge of getting siblings and cousins more engaged in business and family activities. There is a great divide between the “make it happen” people and the “watch it happen” people in the family, and a risk of burnout for the family members who are providing the leadership. Hear how other families have successfully overcome the inertia that develops in some family branches and what you might do to improve engagement in YOUR family. 
Program Introduction—Building a Bigger Family Future by Lee Brower, Founder of Empowered Wealth, LLC, the creator of The Business Family Coach™, and author of The Brower Quadrant
What can families do today to set the stage for empowering family members to use their gifts of time, talent and capital to build a clear path forward for the family?    
As a noted authority on helping families create engaged owners and entrepreneurs that flourish generation after generation, Lee will challenge the FOX audience to identify and deploy the guiding principles that make their family strong. Lee will share how strengthening leadership, relationships and creativity can become your family’s roadmap to creating a Bigger Future.
Lee Brower has been featured in the best-selling book and movie The Secret, and has appeared on numerous television and radio shows in North and South America including The Today Show, and other popular programs. His paradigm shifting method of family estate planning is based on family leadership and transferring not just monetary wealth, but core assets like family values and principles, memories and wisdom. 
The remaining program will be presented in two parts:
Part One: Uniting in Honor - Josh Kanter and Janis S. Kanter will highlight their efforts and the process they created to engage two generations in honoring the memory of the family patriarch.  Included in their discussion will be specifics about how they got everyone involved in a joint philanthropic project for the first time.
Part Two: Results from a Family Research Study: In 2006,  Jim Liautaud (Clinical Professor, UIC Chicago) offered thirty nine members of his extended family an opportunity to participate in a ten year research study. With the assistance and direction of Dr. Larry Grimm (Chair, UIC Graduate Psychology),  Liautaud's family began applying his ISO processes. The remarkable results after seven years show an impressive 39% increase in social and emotional competence in this four generation family. All measurables will be presented, along with summaries from participants describing the process, as well as their sense of personal improvement in social and emotional competence. The University of Illinois, Chicago is expanding this study to other families to determine the extent to which these results can be replicated.

Seminar 2

Master Class on Talent Strategies, Culture and Nurturing the Next Generation* 
Thomas P. Melcher, Executive Vice President and Managing Executive of Hawthorn, PNC Family Wealth; Michael Cole, President of Ascent Private Capital Management; Leslie Voth, President and Chief Executive Officer of Pitcairn; and Alexandre Monnier, President, Family Office Exchange

Despite the continuing concern over job creation, researchers around the globe identify a lack of available skilled talent as a continuing drag on performance. Inherent in this issue are three profound questions: How do you achieve a successful combination of culture and talent to allow ideas to thrive within the context of the family and family office culture? How do you remain competitive in recruiting and retaining talent? How do you effectively engage, motivate and inspire the next generation of  family members and employees? In a two-part session, three industry leaders will explore innovative talent strategies adopted by leading multi-family offices. Part One of the session will include three TED-style conference presentations dedicated to providing short, succinct information on each of the session themes. Part Two will consist of peer dialogue.

Seminar 3

Deploying Private Capital in Direct Investments 
Sponsored by the FOX Deal Exchange Network and FDX Capital

This seminar supports members engaged in direct investments and family-owned funds.  The program offers perspective on the motivations and best practices of families involved in direct investing.  The FDX partners will introduce the FDX online deal platform which can be used to access deals sponsored by other families.   
Members in the deal community will share their insights and experience from a variety of perspectives:
Engaging in deal due diligence – what it takes to get it right 
Sharing insight into where other families are investing their capital
Case studies on three family offices co-investing in a disruptive insurance strategy  
“Quick Pics” on deals sponsored by families and independent sponsors
Networking time for direct investors will close out the session.
5:00 p.m. Adjourn
 *Indicates eligible for 
5:30 p.m.

The FOX Fall Forum is a great opportunity to meet people who are facing similar challenges and exchange ideas. To help you identify your peers at the start of the program, we invite you to take advantage of this time to socialize and network in one of the two smaller FOX member gatherings listed below.

  • 5:00 pm - NextGen Network Cocktail Party
  • 5:30 pm - FOX Global/Council Member Reception 
6:00 p.m. Reception and Dinner for Family Members, Family Office Executives and Thought Leaders

Among the architectural highlights, culture, museums, commerce and shopping that make Chicago a favored tourist destination…is Chicago’s unique positioning as a food lover's paradise. Please come to make new acquaintances and reconnect with long-time friends at FOX’s Taste of Chicago. 



Tuesday, October 29

This morning is reserved for family members, family office executives and Thought Leaders Council members. Advisor members are invited to join at 12:30pm for the All Member Luncheon. 

7:30 a.m.  Breakfast
8:30 a.m.  Opening Comments 
Alexandre Monnier, President, Family Office Exchange
8:45 a.m.
Amy Hart Clyne, Managing Director, Content and Market Development, Family Office Exchange

At the 2013 Thought Leaders Council Summit, attendees worked collaboratively on outlining what is considered State of the Industry, common practice, and State of the Art, best practice, in the private wealth management industry today.  FOX led a similar study in 2000, and 13 years later, the industry has evolved radically with not only significant market shifts, but new entrants, new products and capabilities, new servicing processes, new technology systems and more sophisticated clients with dramatically altered expectations. The result of this research, Best Practices of the Private Wealth Industry will be shared by members of the council.
9:45 a.m.
All for One and One for All: The Family Leadership Challenge* 
Carl Robinson, Ph.D., Managing Partner, Vantage Leadership Consulting
In a family enterprise, the greatest challenge is to engage family members effectively in leadership roles and governing board participation. The development of future leaders in the family is critical to its future, and the leaders' participation in family governance is key to sustaining the enterprise.
As team of nationally recognized leadership consultants he will put a spotlight on the critical leadership skills needed in a complex family enterprise. They will bring to light the important skills that family board members need to develop to provide continuity for the family and its work together.


10:45 a.m.


Break and move to Peer Dialogue

11:15 a.m. Peer Dialogue 
One of the most valuable benefits of the Forum is the opportunity for private peer discussion. Participants self-select into the session that fits their role the best:

  • Owners and Family Members
  • Executives for Offices for Families with Operating Businesses
  • Executives of Small Offices (1-5 employees)
  • Executives of Medium Offices (6-15 employees)
  • Executives of Large Offices (16+ employees)
  • Thought Leaders Council
12:30 p.m.

All Member Luncheon with Keynote Speaker
Tali Sharot, Neuroscientist at University College London and the director of the Affective Brain Lab

Are we born to be optimistic, rather than realistic? Dr. Tali Sharot shares new research in neuroscience, psychology and behavioral economics that suggests our brains are wired to look on the bright side -- and how that can be both dangerous and beneficial. In her book The Optimism Bias, Tali outlines the impact of this bias on families today and in the future.

2:00 p.m. Afternoon Learning Tracks 
Forum attendees have the option of following one of five topical education tracks or to select sessions from different tracks

Track 1: Facilitating Business Owner Transitions

Transferring Business Ownership:  How to Prepare the Family for a Smooth Transition*
Stephen G. Salley, Of Counsel, Greenberg Traurig, LLC.;  Mark Nash, Partner, PwC Private Company Services and Karen Neal, Managing Director, Consulting, Family Office Exchange
A recent PwC study on family business owner trends indicated that more than half of the business owners intend to transition the ownership of their business during the next ten years. Half of these transitions will be an outright sale to a third party, and the other half will be transfers to family members, employees and management.  All types of ownership transitions require thoughtful planning and work to achieve a successful outcome.  What can business owners do to achieve success?  What structural, governance and communication strategies can be implemented today to smooth the eventual transition and mitigate adverse impacts on family dynamics?

Track 2: Enhancing the Executive Professional Team

Rewarding High Performance: The 2013 FOX Compensation Study* 
Jane Flanagan, Senior Consultant, and Mariann Mihailidis, Managing Director, Councils, Family Office Exchange
A family office’s success is largely dependent on selecting and retaining the right employees. So how does a family office develop a compensation and benefits package that will attract and retain key talent?  During the summer of 2013, FOX surveyed its members to learn more about the compensation and benefits practices of today’s family office. In this session we will look at the results.
Attendees will learn:
The prevalence of employment contracts, severance policies, and annual employee reviews
The methodology and annual targets for short-term incentives, and the types and structure of long-term incentive compensation programs
The most frequently offered benefits and perquisites, everything from medical and dental to a company car, as well as who receives these benefits and what they cost
Common vacation, maternity and paid time off policies

Track 3: Making Smart Investment Decisions

Challenges of Family Investment Decision-Making*
Cliff Hurd, Hurd Enterprises, Ltd., John Goddard, Investment Resources Corp and Charles B. Grace III, Senior Consultant, Family Office Exchange
When families make major investment decisions regarding asset allocation, tactical asset allocation, opportunistic investments, and selection and termination of managers, among others, a myriad of questions are raised.  Who will make the investment decision?  Should there be an investment committee?  What will be the process for making the decision?  What degree of formality is optimum in each situation?  What is the role of the investment consultant and others?  This session will include sharing of new knowledge as well as an opportunity for topical, interactive dialogue in the art and science of investment decision-making as well as an a case-study comparison of what makes high-performing families so successful.

Track 4: Fostering Effective Family Interaction

The Spirit of the Gift: Giving Wisely to Family Members*
Keith Whitaker, Ph.D.; Susan Massenzio, Ph.D., Wise Counsel Research Associates 
Many parents fear that gifts to family members lead inevitably to entitlement. Giving wisely can avoid that result and turn gifts into a force for growth. Keith Whitaker and Susan Massenzio will share some of the key practices of wise giving captured in their book with Jay Hughes, The Cycle of the Gift: Family Wealth and Wisdom (Bloomberg, 2013), including:
• Understanding yourself as a giver
• Understanding your recipients
• Communication strategies around family gifts
• Special cases including blended families and grandparents

Track 5: Implementing Best Practices

Building Trust: Designing a Distribution Policy that Beneficiaries Understand*
Carlos Feliciani, CEO, The Weisz Family Office; and Sara Hamilton, CEO, Family Office Exchange
Carlos Feliciani will present a summary of the process followed when developing a trust distribution policy for the family served by the Gamma Consulting family office.  As part of the session, he will set forth how technical and complex financial parameters are explained to family members who do not have financial and business experience.  The process, education tools and an outline of the final distribution policy document will be shared for the benefit of the participants.
3:15 p.m. Break
  Participants have the opportunity to self-select into the session that best fits their needs out of the options below:
3:45 p.m. 
Track 1: Facilitating Business Owner Transitions
Taking the Long Term View: Building a Hundred Year Family Enterprise*
Dennis Jaffe, Ph.D., Saybrook University; and Sara Hamilton, Founder and CEO, Family Office Exchange
While most family wealth is newly created, families increasingly look ahead and want to design a multi-generational future that balances all aspects of their family capital. This session will identify the building blocks for a strong family enterprise, and will review the success patterns of 40 multi-generational families. We will look at the steps that lead to a shared decision to create a lasting family enterprise. As a critical element of this process, families can evolve into a family enterprise by understanding the important building blocks of the family enterprise. 
As a result of interviews with family leaders from 40 successful multi-generational families, we will provide experiential knowledge demonstrating how the heirs of the wealth creator have implemented a shared decision to create a great family to support their successful wealth and family enterprise. The group will discuss the strategies and best practices utilized to meet the internal (family) and external (business and environmental) challenges that face every family of wealth. 

Track 2: Enhancing the Executive Professional Team

Applying State of the Art: Making it work in Your Family Office
Amy Hart Clyne, Managing Director, Content and Market Development, Family Office Exchange, Karen Rush, Director of Membership, Family Office Exchange

Affecting meaningful and lasting change cannot be achieved without a comprehensive change management plan that identifies your goals, isolates the essential personnel who will impact the change and provides the necessary knowledge and support to impact the process. Members of the Thought Leaders Council will engage participants in a discussion about how you can affect change within your organization that can lead to “Best in Class” performance.

Track 3: Making Smart Investment Decisions

For-Warned is For-Armed: The Value of Due Diligence*
Matthew P. Morris, Director, Grant & Eisenhofer PA; and Charles B. Grace III, Senior Consultant, Family Office Exchange

In the world of alternative investments, it is important for investors to protect themselves and know their rights. This session will explore strategies such as how to exit a dormant fund that is locked-up, as well as discuss the state of the law on claw-backs and ‘no action’ clauses. As a critical element of this session, participants will be guided through a series of questions dedicated to uncovering the hidden challenges and inherent risks of alternative investing.

Track 4: Fostering Effective Family Interaction

Bridging the Divide: Impactful Family Communications*
Daisy Medici, Managing Director, Governance and Education, GenSpring Family Offices
Ineffective communications between and among family members often creates a divide that is difficult to overcome. Communicating effectively, however, is not an easy task that necessitates mastery of communication types, temperament, emphatic listening skills and a keen understanding of the real and perceived meanings of words and attitudes. So how do you handle difficult conversations without isolating family members? What can you do to improve your communication skills so that your interactions transcend family members from apathetic to empathetic family engagement? And…what can you, personally, do to bridge the communications gap in light of challenging family dynamics?

Track 5: Implementing Best Practices

All in the Family: The Risk and Rewards of a Family Bank*
Warner King Babcock, AM Private Enterprises, Inc.; and Karen Neal, Managing Director, Consulting, Family Office Exchange

Stimulating…and funding…entrepreneurship within a family enterprise can become risky business. How do you find the balance between encouraging the next generation of wealth creators while minimizing financial exposure and risk to the enterprise?  Warner Babcock will lead a discussion on developing, implementing and governing a family bank. Included in the dialogue will be insight into investment structures, wealth strategies, tax and estate planning as well as family dynamics considerations that must be taken in account prior to enacting a successful Family Bank.
  *Indicates eligible for 
7:00 p.m.

All Member Reception and Dinner
Crystal Gardens, Navy Pier, Chicago
Since 1995, the historic Navy Pier has been a gathering place where Chicagoans and tourists from around the world have come together to enjoy the beauty and the thrills of a day on Lake Michigan. Please join fellow program attendees for an evening of networking and fun at the Crystal “Butterfly” Gardens of Navy Pier.




Wednesday, October 30

7:30 a.m.


8:30 a.m.
Family Office Exchange Update
9:00 a.m.
Future Owners of Impact: Empowering the Younger Generation*
Danielle Oristian York, Director, 21/64
The next generation can bring unique skills and perspectives to the philanthropic community. However, the prospect of engaging the next generation can be daunting. Next-generation family members have grown up with access to broader opportunities fueled by information technology, increased diversity and global connectedness. The questions they ask, language they use, and even their values and priorities change the way the family communicates. The more a family is able to see that “involving the kids” does not only mean adding children to an existing system, but rather shifting the family paradigm to become multigenerational--embracing what each generation brings to the table--the better prepared they will be for the next phase of the foundation’s evolution, and for meeting the needs of the 21st century.
10:30 a.m. Break
11:00 a.m.
Owners of Impact – Families Making a Difference
With wealth comes responsibility—a challenge that daunts some families, but inspires others. Two families, from the myriad of FOX families who engage their wealth in high impact activities, have been chosen to share their personal stories of what they did more, better and differently to initiate a Butterfly Effect within their family and community.
11:00 a.m. – 11:45 a.m.
Service: Unlocking Our Nation's (AND FAMILY’s) Potential 
Andrew Hauptman, Chairman of Andell, Inc. and Owner and Chairman of the Chicago Fire Soccer Club
As chairman of Andell, Inc., a private investment firm and family office he controls with his wife Ellen Bronfman Hauptman, Andrew oversees the firm’s investment, operating, sports, real estate and media businesses. He is the owner and chairman of Major League Soccer’s Chicago Fire Soccer Club and serves as Chairman of Storage Mobility, the nation’s largest franchisee of Portable On Demand Storage (PODS.)  In addition to this work, he is deeply involved with several philanthropic and civic organizations, including serving as a national trustee of City Year, and co-founder and chairman of City Year Los Angeles.  As part of a family with deep historical roots in philanthropic causes, As part of a family with deep historical roots in philanthropic causes, Andrew will share how they identify causes where real impact can be made while also protecting the family’s legacy by selecting appropriate initiatives and monitoring the gifting process. Andrew will share how they identify causes where real impact can be made while also protecting the family’s legacy by selecting appropriate initiatives and monitoring the gifting process. He will also share specifics on some of the family’s business ventures as well as his personal goals of advancing society while also preparing the next generation of the family to maintain their positioning as a Family that Makes a Difference.
11:45 a.m. – 12:30 p.m.
Eric Russell, President and CEO, Revalesio Corporation 
It's not uncommon after the sale of the family business for a key family member to ask the question, "Now...what?" What is uncommon, however, is answering that question by dedicating your life and resources to the health and healing of individuals and communities around the world. Today, Eric and his wife Marcee are fully engaged in developing a novel category of therapeutics for the treatment of inflammatory diseases using a revolutionary charge-stabilized nanostructure (CSN) technology. With their goal of improving life through science, Eric and his team are funding work with leading academic institutions, research organizations and pharmaceutical companies to tackle: Asthma, Multiple Sclerosis, Alzheimer ’s Disease, Parkinson’s Disease, and other neurological disorders as well as Cardiovascular Acute Myocardial Infarctions.
Eric Russell will provide insight into his family’s impact on remarkable biotech discoveries, the status of clinical research trials and their amazing progress impacting global food security, human health and hydration. In a moment not to be missed by any FOX Fall Forum attendee, Eric will share video documenting the personal progress of one of their neurologist researchers, who with Food and Drug Administration approval, has become a one-man research trial in his personal fight against ALS–Lou Gehrig’s Disease. 
  *Indicates eligible for 
12:30 p.m. Wrap Up and Adjourn & Box Lunch