Essential Reads on Family Offices
Contributions have been carefully curated from the prestigious archive of The International Family Offices Journal, co-published with STEP, and the Special Report, Family Business and Responsible Wealth Ownership.
Containing a collection of authoritative materials dedicated to providing family offices and their advisers with the most informative and thought-provoking contributions on key themes, the content focuses on:
• Family office profiles: profiles of leading family offices from around the world, highlighting their unique structures, strategies and values.
• Governance: best practices for developing and implementing effective governance structures and processes for family offices.
• NextGen planning: expert insights on how to prepare the next generation of family members and manage the family’s wealth and legacy.
Family offices have complex and unique needs, and Globe Law and Business is committed to providing family offices and their advisers with the resources they need to thrive. Contributions have been carefully curated from the prestigious archive of The International Family Offices Journal, co-published with STEP, and the Special Report, Family Business and Responsible Wealth Ownership in order to provide you with the core knowledge needed to manage a family’s wealth, relationships and legacy for generations to come.
Table of Contents
|Family office profiles
|Family office profile: Rodolfo Paiz, CEO of the PT Family Office (Miami and Guatemala)
|Family office profile: Northwood Family Office
|An interview with Sue Nickason of Dart Family Office
|Governance, entrepreneurship, resilience and reinvention on the five-generation journey of a family enterprise
|Family office profile: VALUE works AG, Zurich/Switzerland
|Family business, family office and next gen
|Single-family offices in the 21st century – remaining fit for purpose
|Case study – design and set up of a family investment office
|Family mission vision and values statements: the essential foundation of an effective family governance system or just another form that cannot function?
|The three family constitution arche types and a wise alternative
|Family constitutions, the rule of law and happiness
|Stress tests – building resilience in the face of a crisis
|The benefits of applying the rule of law in family governance
|The great man fallacy and family governance
|Family office succession planning
|The right time to involve the next generation
|Parental expectations: effective guidelines or messy messages?
|Not the founder’s family office: evolving to meet the needs of rising generations
|Let’s do it the SMART way: a practical guide for the raising of affluent children
|The importance of financial education for securing wealth transfer across generations
|I’m successful, but can’t talk to my children about money! Help!
|The hows and whys of enterprising families reinterpreting timeless tales for their NextGen
|Generational resilience through the integration of governance into structure
|Reframing succession in a disruptive era – a business family perspective
|Five things wealthy families can learn from Lee Man Tat
|The next generation of strategic cultural philanthropy – impact, social justiceand the opportunities for nextgen donors in the arts
|Effective mentoring for the next generation
|Women: wealth and self-reliance
|Safeguarding the family’s digital narrative: how to navigate the challenges of the social media revolution
|About Globe Law and Business
Managing partner, Digitalis
Charlie Bain is managing partner at Digitalis, an advisory company that specialises in online reputation management, crisis communications, digital privacy and risk. He is widely recognised as a leading expert in advising clients on their digital footprint and the effect this has on their reputation. During his career, he has helped a number of leading families, global corporates and prominent individuals to understand the nascent field of internet risk and digital crisis communications.
Charlie is on the advisory board of VALUEworks, a multi-family office based in Zurich; and a senior adviser to Dallington Associates, a company that offers specialist mentorship for the rising generation. In addition, Charlie has written for The International Family Offices Journal and was a contributor to the book Advising the Wealthy Client (Globe Law and Business, 2020), giving an insight into his experience advising family offices.
In 2021, Charlie was recognised as a top recommended specialist in reputation management by Spear’s Magazine.
Guillermo Barandalla, CFA, works as chief investment and operating officer for INJAT, the investment office of Jose Antolin Toledano, Honorary Chairman of Grupo Antolin. In 2019 he joined the project to perform the tasks of designing and setting up the family investment office.
FABRIZIO ARENGI BENTIVOGLIO
Fabrizio Arengi Bentivoglio is a third-generation family member, chairman and CEO of Fidia Holding, the single-family office of the family who exited their pharmaceutical family business in 2007. Fabrizio draws on extensive professional experience having worked in the United States, Europe and emerging markets such as China, India and Latin America. Fabrizio is a member of the Council on Foreign Relations and the Council for the United States and Italy.
Peter Brock is the co-founder and managing partner at BeeWyzer GmbH (www.beewyzer.com), an independent, holistic and enabling step-by-step online video training programme for better wealth organisation. It enables wealth owners to develop strategies to grow, secure and transfer wealth successfully to the next generation.
Jeremy Cheng is Founder of GEN+ Family Business Advisory & Research, and a PhD student at The Chinese University of Hong Kong.
Russell Cohen is a partner at Farrer & Co LLP, London. He specialises in providing advice on family governance, succession planning, structuring and tax planning.
CARLY E DOSHI
Carly E Doshi is the Head of Philanthropy, Family Governance, and Family Office Advisory for HSBC Private Banking, Americas.
BARBARA R HAUSER
Barbara R Hauser is an independent adviser based in Minnesota in the United States. She is a leading author on global family office issues and family governance. She was the advisory editor for Family Offices: The STEP Handbook for Advisers (http://www.globelawandbusiness.com/FOS).
Iraj Ispahani is CEO of Ispahani Advisory Ltd and based in London. Ispahani Advisory advises family businesses on business strategy, governance, people and education. Iraj also serves as a Group Director and Board Member of the Ispahani Group, a family business headquartered in Bangladesh which marked 200 years in 2020. Prior to joining the family business, Iraj held global and regional leadership roles in banking at JP Morgan and organisational development at Korn/Ferry. He also co-founded Cantos, an online corporate communications business in 2001. Iraj is Chair of the Shakespeare’s Globe Council and an independent trustee of the Standard Chartered Foundation. Iraj is an adviser to UNICEF in the United Kingdom and in Bangladesh and a member of the UK Development Board of the International Committee of the Red Cross (ICRC). For more information, please see: www.ispahaniadvisory.com.
WILLIAM J KAMBAS
William J Kambas is a Partner and the Regional Division Leader of the US Private Client and Tax Team at Withers Bergman LLP.
Raimund Kamp is an entrepreneur, researcher, author and speaker in the international field of family offices and business families. His special expertise relates to families who are in transition and the transfer of the wealth/family business to the upcoming generation.
ROGER KING, PhD
Roger King, PhD, is Adjunct Professor of Finance and Founding Director and Senior Advisor of the Tanoto Center for Asian Family Business and Entrepreneurship Studies and the Thompson Center for Business Case Studies at The Hong Kong University of Science and Technology.
Principal, The Offices of Philip Marcovici Limited
Philip Marcovici is retired from the practice of law and consults with governments, financial institutions and global families. He was a partner of Baker McKenzie, which he joined in 1982, and practised in the area of international taxation in Hong Kong and Zurich while with the firm. Philip has also practised law in New York and Vancouver, British Columbia. He retired from Baker McKenzie at the end of 2009. The author of numerous publications, Philip is also the author of The Destructive Power of Family Wealth (John Wiley & Sons). Among others, Philip is a member of the Public Policy Committee of STEP and chairs its Responsible Stewardship of Wealth thought leadership group. He holds law degrees from Harvard Law School and the University of Ottawa (magna cum laude), and is admitted to practise in Hong Kong, the State of New York, the Province of British Columbia (retired), Canada, England and Wales.
CEO and founder, Dallington Associates
Jessica McGawley is a consulting psychologist, family mediator and the CEO and founder of Dallington Associates, a specialist mentorship practice for the rising next generation. She holds an undergraduate degree in ethnomusicology and African culture; a postgraduate diploma in counselling and psychotherapy; and a master’s in consulting psychology – psychodynamic and systemic approaches. Prior to founding Dallington in 2015, Jessica spent seven years as head of operations for London-based consulting firm Oxford Place, where she focused on wealth transition to the next generation.
The youngest-ever board member of United Nations Women London in 2012, Jessica proudly set up its first mentoring scheme. She is a trustee of the Cassandra Learning Centre, a charity that focuses on supporting victims of domestic abuse; and a governor of the Mossbourne Victoria Park Academy in Hackney, London. Jessica is listed as one of the world’s top problem solvers in Tatler’s High Net Worth Address Book.
Asher Noor is the Chief Investment Officer for AlTouq Group, a sophisticated Saudi Arabian single-family office.
FRANKLIN J PARKER
Franklin J Parker, CFA has advised wealthy families internationally for over a decade. He is author of the book Goals- Based Portfolio Theory, and the founder of Directional Advisors, a Texas-based registered investment advisor.
Maya Prabhu is managing director and head of wealth advisory for Europe and the Middle East, JP Morgan Private Bank. Maya is passionate about helping families talk and plan for the future on a range of topics including the meaning and purpose of their wealth, how they stay close as a family, how they wish to manage and make decisions about their money and their family business and how they prepare their children and grandchildren for the opportunities and challenges that wealth brings.
Antoaneta Proctor is a private client partner at City law firm Wedlake Bell, focusing on international tax and trusts, family wealth structuring, cross-border succession and family governance. She is the author of the UK #1 best-selling book Generational Wealth: Why 99% of Families Fail to Establish a Lasting Legacy (2022).
Amelia Renkert-Thomas is the founder of Renkert Thomas Consulting LLC, the author of Engaged Ownership: A Guide for Owners of Family Businesses (Wiley, 2015) and Professor of the Practice of Family Business at the University of North Carolina Kenan-Flagler Business School. Renkert Thomas Consulting LLC works with family enterprise owners on issues related to strategy, ownership and governance.
SUSAN R SCHOENFELD
Susan R Schoenfeld, JD, LLM (Taxation), CPA, MBA, is CEO and founder of Wealth Legacy Advisors LLC based in New York City, USA, which serves as thought partner to families of wealth through personal attention and human spirit. She is an Attorney and CPA, with vast experience as an adviser to families and family offices on matters of generational wealth transfer, estate planning and education on the personal issues of wealth. A former Family Ambassador at a private Single Family Office, and Fiduciary Counsel at a prominent US trust company, Susan is a recognised speaker and author on family office and fiduciary matters.
MICHAEL S SCHWARTZ
Michael S Schwartz is a Partner in the Private Client Group and Co-Chair of the Trusts and Estates Practice at Curtis, Mallet-Prevost, Colt & Mosle LLP.
Carl Sjöström is an independent senior adviser to company boards and management, working across Europe and with most industries and forms of ownership. With a focus on reward and performance, Carl is a frequent speaker and commentator on topics of strategy, executive pay and corporate governance issues from an international perspective. For more information, please see: www.vitisolutions.com.
Christian Stewart is the managing director of Family Legacy Asia (HK) Limited, a process consulting firm based in Hong Kong. He is also an associate of the Boston-based think tank and consultancy Wise Counsel Research Associates. Mr Stewart assists families around Asia with family governance and succession.
CEO, Philanthropy Company
Over nearly three decades, Caroline Underwood OBE has worked with philanthropic individuals and families to achieve positive change, as well as with a wide range of charities and cultural bodies in the UK and worldwide. Caroline was awarded an OBE for charitable services in the 2017 Queen’s Birthday Honours. She is a fellow of the Royal Society of Arts; a trustee of donor-advised fund Our Common Good; a governor of Britain’s leading preparatory school, the Dragon School, Oxford; and former vice chair of UNICEF UK.
PHILIPPE J WEIL
Philippe J Weil TEP, an established Swiss banker, is the founder and managing director of PJ Weil Ltd, a multi-family office boutique with offices in Tel Aviv and Zurich. He is personne de Confiance for a few selected Global Families of Wealth.
Based in Melbourne Australia, David Werdiger works with high-net-worth families and their businesses with a focus on succession planning, family/business shared vision and governance, managing family conflict, and general strategic advice. David’s diverse background gives him a powerful mix of skills: second generation family member, tech entrepreneur, Adjunct Professor at Swinburne University, best-selling author on wealth transition and a dynamic conference speaker and educator.
MELISSA COWLEY WOLF
Melissa Cowley Wolf is the founder of MCW Projects LLC – www.mcw-projects.com – a consulting firm dedicated to expanding the next generation of cultural philanthropists, audiences and advocates. Melissa advises organisations on philanthropic and narrative strategies to increase relevancy and revenue streams and democratise their supporter base; partners with the financial sector and their clients to highlight the immense and unique impact achievable in the cultural economy; and collaborates across industries to advocate for increased philanthropic support of the arts. She has 20 years’ experience in philanthropy and programming for cultural institutions across the United States, and was named in the Artnet 2020 Innovators List as one of 51 global innovators transforming the art industry. Melissa is also the director of the Arts Funders Forum – www.artsfundersforum.com – an advocacy, media, and research platform designed to increase private support for arts and culture.