Owner/Operator Council '16 Meeting - May 2016


Monday, May 9, 2016 - 6:30pm to Wednesday, May 11, 2016 - 5:00pm
The FOX Owner/Operator Council is composed of family members who directly oversee the operation of their family's financial enterprise, with or without staff, working together to share insights and strategies.  
The purpose of this council is to provide a forum for these leaders to test ideas, get peer advice, and learn from appropriate experts to improve their performance in managing the family’s wealth and preparing the family for the future.
Each Council works from a FOX developed curriculum that is tailored to the needs of the Council. Meetings include content from the curriculum as well as specific topics and discussions requested by the Council members. FOX provides the appropriate internal and external resources for lively, fruitful meetings.

  • Agenda

Host: Family Office Exchange


Monday, May 9, 2016

6:30 p.m.


Optional Dinner

Tuesday, May 10, 2016

8:30 a.m.



  • All meals served in “Room 220” Lounge

9:00 a.m.


Welcome and Overview of Member
2015 Accomplishments and 2016 Challenges

Facilitated by Karen Clark, Managing Director, Family Office Exchange

Interactive discussion.  All members will give a short overview of your 2015 accomplishments and 2016 challenges.   Each member should limit their discussion to 5 minutes.

10:30 a.m.



10:45 a.m.


Case Study: Lessons Learned from our Family Meeting

Last summer, Mariann attended the *** family meeting to lead the family through a series of exercises to help them determine what “responsible ownership” means for their family and discuss the different ways that family members can engage in the family enterprise. Our speaker will share the key takeaways from this experience and how they have put this learning into practice since July.

12:00 p.m.



  • All meals served in “Room 220” Lounge

1:00 p.m.


Risk & Opportunity Mapping Discussion

Mariann Mihailidis, Managing Director, Family Office Exchange

Economic uncertainty causes many families to stop and revisit their long-term goals and expectations. In this session, Mariann will lead the group in a discussion on the risk and opportunity mapping exercise you completed as pre-work before the meeting. 

This exercise is designed to help each member of the group document and prioritize the risks and opportunities facing their families at this time.  The “risk map” is a tool that allows you to plot your key concerns by level of influence and impact so that you can visually recognize how different events and issues may affect you and quickly prioritize mitigation efforts. This exercise was an illuminating experience for the group back in 2010; the time is right to revisit it.

2:30 p.m.



2:45 p.m.


Estate Settlement: How to Prepare for the Inevitable

Stacy Singer, National Director of Estate Settlement Services, The Northern Trust Co.

We invest a lot of time and energy figuring out the best way to pass wealth from one generation to the next. But how can anyone truly prepare for the practical realities of settling a family member’s estate while grieving and managing the impact of this loss on the family?

Stacy Singer from Northern Trust will outline some of the things you can be thinking about now and what will need to get done …  before, during, and after there’s a death in the family.

4:00 p.m.


Executive  Dialogue - Part One

Facilitated by Karen Clark, Family Office Exchange

5:00 p.m.


Meeting Adjourned

6:00 p.m.


Council Dinner

  • Rural Society Argentine Steakhouse
    Located within the Lowes Chicago Hotel
    455 N. Park Drive | Chicago
    “The Gaucho Room”


Wednesday, May 11, 2016

8:30 a.m.



  • All meals served in “Room 220” Lounge

9:00 a.m.


Executive  Dialogue - Part Two

Facilitated by Karen Clark, Family Office Exchange

10:00 a.m.


Cybersecurity and the Family Office:
Achieving Privacy and Data Security in a Connected World

Joel Dubin, Manager, Security and Privacy Services, RSM  US LLP

A family office is more often than not founded around the concerns about privacy and data security that a family has, so securing communications and personal and financial information is a top priority and key challenge for FOX members.  

In this session, Joel will outline the current trends in privacy and data security and identify the steps you can take today to protect your office and your family.  He will share the latest developments in technology and offer strategies for managing your people, processes and technology to minimize cybercrime risk.

11:00 a.m.



11:15 a.m.


The Future of Family Office Technology

Steven Draper, Senior Consultant, Family Office Exchange

The rapid changes in technology are all around us and the latest financial technology developments feature in the news daily.  But what does it mean to the family office? What developments should a family office be focusing on?

Steven Draper will update us on the state of the industry and outline new ways to save money while enhancing efficiency.

12:00 p.m.



  • All meals served in “Room 220” Lounge

1:00 p.m.


Beyond the Virtual:  When Threats Feel More Real

Karen Clark, Family Office Exchange

The multifarious threats to families, assets, employees, portfolio value and reputations emanate both at “Home” and “Away”.  In the context of these unprecedented security times, families and family offices can mitigate these threats and protect themselves in an affordable and sustainable manner without over restricting their freedoms. 

Karen will share the expert opinion of Ed Butler, retired Brigadier of the British Army who recently spoke to members of FOX’s Global Family Council.  Ed drew upon his 24 years in the British Armed Forces, much of it spent on the front line with the SAS and other government departments undertaking counter-terrorist and intelligence operations, as well as the last eight years spent in the private security, private client and business intelligence sector to share what we all need to know in today’s world. 

2:00 p.m.


Meeting Wrap Up and Next Steps

2:45 p.m.


Break - Joint Owner Operator Meeting begins at 3:00 p.m.


Wednesday, May 11
Joint Owner Operator Council Meeting

3:00 p.m.


Meeting - Welcome and Group Introductions 

Karen Clark, Managing Director and Jane Flanagan, Director, Family Office Exchange

3:30 p.m.


Investment Discussion

Facilitated by Karen Clark and Mariann Mihailidis

  • Recent Activity: Strategic and Tactical Asset Allocation Changes (Worksheet Review) All participants to highlight changes and discuss reasons for the change.
  • Specific deal and/or manager presentation and feedback

5:00 p.m.


Meeting Adjourned

7:00 p.m.


Council Baseball Outing (Both Council Groups)

  • Wrigley Field


*** Business casual attire for meeting ***