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Managing New Liquidity |
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Our work begins with a series of discussions with family
leaders to identify their current challenges. We design
a structured process to educate the family about the
challenges of wealth and discuss the alternatives available
for the management of their personal and financial affairs.
Leveraging the lessons learned by FOX members, we are
able to help the family document their collective needs and
guide them to the right solution for their family. Getting
to the right solution requires the family’s commitment to
answer the following important questions:
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• What do we want to accomplish with our wealth for the
long-term?
• What wealth management services do we need?
• How can we benefit from the buying power of the
family group?
• Should we set up our own family office, or engage a
multi-family office or wealth advisory firm?
• How do we identify the right strategic advisors for our
family? |
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Planning for Family Continuity and Governance |
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Family groups that have thrived for generations have
invested their time, talent and resources to ensure that their
family has a thoughtful and flexible plan for the future.
We focus on defining family goals and shared risks and
work with the family to design a governance structure that
will allow the family to work effectively together to achieve
its collective goals.
Family groups continually face transitions that test their
relationships—with each other, with their advisors or with
leaders of the family business. Whether you are facing a
leadership change, strategy change or are setting a new
direction for the family, FOX can help your family navigate
the transition by providing a safe environment and a
structured process to guide you to a successful outcome. |
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Designing Your Family Office |
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Like an architectural blueprint, our process involves a detailed analysis that results in the creation of a customized
family office designed to address the family’s unique needs.
Key deliverables include:
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• Recommended family governance, ownership and operating structures
• Specific scope of financial and non-financial services needed by
the
family
• Investment guidelines and processes
• The optimal systems
and infrastructure required for managing an
efficient office
• Operating polices and procedures and risk management tools
• Management and staffing needs in the office
• Preliminary budgeting and forecasting for the set-up
and maintenance
cost to run the office
• Methodology for annual assessment of value the office provides to the
family
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Assessing Your Family Office |
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FOX consultants spend time with family advisors, key office staff, and family members to
evaluate the core competencies of the office and identify
practices that can be utilized to enhance service delivery
and cost-effectiveness. FOX may also utilize its client survey
tool to determine how the office’s services are viewed
and valued by its clients. The typical steps in this process
include:
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• Identifying goals and objectives for the assessment
process
• Interviewing clients and office staff
• Considering future needs of the client base
• Documenting the complexity of the office relative to
industry peers
• Summarizing the challenges and opportunities facing
the office
• Making recommendations for enhanced performance |
