Ultra-high net worth families face many challenges that are associated with wealth management and running a business. From dealing with service providers, to making complex investments, estate and tax planning, succession planning, human capital, risk management, cybersecurity, philanthropy, exit strategies, governance and best practices, it can be daunting. When you add to that conflicts within… Read more »

One of the key conflicts that arises in family offices is family office succession. The older generation is reluctant to “let go” and the younger generation may be eager to take the reins. When the patriarch has started the business and built it to a high level of success, it is extremely difficult for them… Read more »

New Family Office Regulations- Kleinberg, Kaplan, Wolff & Cohen, P.C. In 2012, the U.S. Securities and Exchange Commission (the “SEC”) adopted the term “family office” and excluded such entities from registration as an “investment adviser” under the Investment Advisers Act of 1940,as amended. Rather than take the same approach by adopting a regulatory exclusion, the… Read more »

Over the years, the SRI investment options have been increasing. ESG Investments are in public and private markets. The type of investments include alternative investments-private equity, venture capital, real estate, and hedge funds have become the most popular within the impact investing space. Another significant area of ESG investing is community investing,to serve the poor… Read more »

The first step towards implementing an Impact Investing Program is to obtain a unified plan that all family members agree upon. In many cases it is helpful to have an outside party assist with getting everyone on the same page. In some cases one of the family members may become the person who takes the… Read more »

The interest in impact investing by family offices is increasing significantly. While many of them have expressed a strong interest, not as many have actually implemented an ESG program, however we expect that to change quite a bit based upon recent conversations with many of them. Some of the key areas that most families are… Read more »

The first step towards implementing an Impact Investing Program is to obtain a unified plan that all family members agree upon. In many cases it is helpful to have an outside party assist with getting everyone on the same page. In some cases one of the family members may become the person who takes the… Read more »

A significant number of family offices globally are exploring ways to invest for impact. What is SRI or sustainable, responsible and impact investing? SRI is an investment program that considers environmental, social and corporate governance criteria to produce long-term financial returns that also have a positive social impact. Another acronym being used is ESG, which… Read more »

Due to the constantly changing economic climate, organizations cannot wait for an entire year to evaluate their profitability and business plans. Most well run family offices and their businesses are moving toward a continuous planning process that is revised throughout the year. This new comprehensive business planning model provides management with a much more effective… Read more »

Last week we mentioned three areas that will be trending in 2020, investment strategies, cybersecurity and the rising costs to manage a family office. Here is another area that should be addressed: SUCCESSION PLANNING This is one of the most significant areas of concern as we meet with family offices both domestically and internationally. While… Read more »