As a senior family office professional or family member for an established family office, you may be looking for ways to elevate the services and outcomes offered to the family. This workshop is designed to help you explore best practices employed by the world’s leading family offices, and will help you create a strategic mindset to enhance the overall effectiveness and efficiency of your office. With a focus on value-add components to sustaining wealth and family cohesion, you will be able to build a roadmap to accomplish ambitious goals. We begin with strategic planning and goal setting and will explore best practices in family office operations, governance, leadership succession, communication, talent development, and benchmarking.
The workshop will be led by FOX subject matter experts along with other leaders in the family office industry. It provides insights from over 30 years of FOX thought leadership, proprietary research, practical solutions, and showcases select findings from our benchmarking surveys as well as our advisory practice. The program is designed to be interactive, with presentations, case studies, collaborative exercises, and peer exchange opportunities to share experiences.
WHAT TO EXPECT
- Engage in strategic planning for key dimensions of a family office
- Review the value-added financial and non-financial service menu and operating practices provided by a family office
- Create the talent and team structure needed for enhancing the family office
- Develop leadership and succession plans for both the family and family office
- Understand sophisticated governance structures that can better align the family and the family office
- Define best practice goals and measurements of family office performance and opportunities for improvement
WHO SHOULD ATTEND
Ideal for wealth owners and single-family office executives with an established family office who are interested in elevating their knowledge about best practices in leading offices. Attendees may have participated in previous FOX Family Office Design Workshops.
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Topics to be Covered
The Strategic Family Office
Building on an understanding of the best practices used by family offices around the world, we will explore how to define and shape a robust strategy for your family office for today and tomorrow. This includes aligning the purpose of the office with the services delivered and exploring next level goals. We will introduce roles the office can play to better support the family, including acting as a risk manager.
Harnessing Talent in the Office
Who you hire and how you utilize the team in your office—in conjunction with third party advisors—is an important lever critical to enhancing performance. This session examines the shifting roles and responsibilities of staff members, and provides an opportunity to map key family office goals to skills and services. This enables you to nurture office culture, think thoughtfully about compensation and retention of talent, and your team composition.
Creating High Value Services through the Family Office
As families grow and offices become more complex, it is important to understand the mix of services offered and how to deliver what will yield the highest value, in both financial and non-financial services. We will look at the best practices of sophisticated family offices to understand how they provide a customized array of services to their families. These include communication, supporting family transitions, succession planning, leadership, governance, and holistic service offerings. We will also explore how family transitions can provide opportunities to reassess and recalibrate services offered.
Effective Family Office Governance
Measuring and Managing Family Office Performance
Best Practices and Seeing the Big Picture for Your Family Office