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Before executing a commercial property lease or sales contract, the parties may prepare a letter of intent or an agreement in principle. The letter of intent or a similar document (the “LOIs”) generally signals that the parties have agreed on the outline of a deal, but not on all of its provisions or details. While LOIs can serve differ...

It’s tempting to imagine the computer systems as airtight vaults, impenetrable and immune to cyberattacks. But this would be a risky move. In reality, IT infrastructure is more like a porous sponge with gaping holes where data can leak when things don’t go according to plan: a staff member might lose a laptop, a system might experience ...

Philanthropists from Europe, the United States, Asia, and the Middle East are approaching philanthropy in an innovative way and actively promote their causes. Interviews illustrate how they are trying to make a lasting change in terms of impact on the ground as well as the longevity of their charitable organizations. For many philanthropists, achie...

Wealth attracts attention and an increase in personal risk, including the risk of being kidnapped. Why then is there resistance to security among wealthy individuals and families, whether they come from security-savvy hedge fund managers or young parents of families with extensive financial holdings intent upon raising their children “like ot...

Vulnerability and personal security risks can be greatly reduced by following five basic principles of security at all times—awareness, low profile, unpredictable routine, communication, and layers of security. Based on those principles, these guidelines are designed to give practical advice on safety and security to anybody who is living in or tra...

Terrorism can take many shapes and involve a vast range of political or ideological agendas. But there are common threads linking all acts of terror: they involve the use of threat of violence, they are random—potentially occurring in any country, against any target, at any time—and their ultimate goal is to generate fear. As terror tac...

Strong cybersecurity for protecting sensitive client data is a critical capability for any Registered Investment Advisor firm. In 2013, Hardy Reed—one of the first firms to earn the Center for Fiduciary Excellence certification—considered cloud services as an option for its IT needs. They wanted to look at alternate options to replacing...

Cybercriminals targets the financial industry 300 times more frequently than any other industry, resulting in mega breaches and millions of records stolen through hacktivism, malware, social engineering, phishing, and other applications. The harsh consequences of remaining vulnerable to cybersecurity breaches are costly, and the number one threat t...

An unprecedented cyber theft transpired earlier this year, one as daring as it is revelatory. When unknown thieves siphoned $81 million from the Bangladesh central bank, by using the SWIFT system to trick the U.S. Federal Reserve into turning over the money, the criminals showed that hackers can exploit virtually every aspect of the global financia...

During the past year, financial institutions of all kinds have experienced repercussions from cybersecurity gaps. The alarming truth is that many broker-dealers have failed to stay up to date with cybersecurity controls and must swiftly get in compliance with all computer-related rules that the Financial Industry Regulatory Authority (FINRA) enforc...

In a referendum held on June 23, 2016, the United Kingdom (UK) voted to leave the European Union (EU). For risk professionals, many of the key issues that affect them will be decided during the negotiations over the coming years that will determine the UK’s new relationship with the EU. However, firms need to begin assessing which areas of th...

After months of fierce debate and a policymaking hiatus, the United Kingdom (UK) electorate has voted in favour of leaving the European Union (EU). While the broad direction is set, companies will still face considerable uncertainty until the UK’s exit strategy is defined and trade negotiations (including the trans-border movement of people) ...

The passionate generosity of countless American families has inspired extraordinary gifts. What is most remarkable is the very phenomenon of American family philanthropy itself. Indeed, many of these families are known more by their philanthropy than by the business successes that made their largesse possible. Through their philanthropic missions, ...

An influx of assets is a powerful transition point in philanthropy. With rising resources comes the budding potential to do more of what you’re already doing—or, perhaps, trying something new. Either way, additional resources will often provide your foundation with new options for making a difference according to your foundation’s...

Do you have younger family members who are interested in learning more about whether being a family foundation trustee is right for them? Are you looking for a quick and fun way to introduce them to concept of stewardship and the demands and possible challenges of being a foundation board member? Then this 5-minute video is right for you.