THE UHNW INSTITUTE NOVEMBER THEME: INTEGRATED FAMILY WEALTH MANAGEMENT
We look forward to seeing you at the Fourth Annual UHNW Institute Symposium in NYC on Wednesday and Thursday, November 13 and 14th for The Future of Family Wealth Advising: Positioning Your Firm for Success!
Whether you’re live in NYC or attending virtually, we’ll explore the delivery of Integrated Family Wealth Management (IFWM), and our new Multiphasic Service Model (MSM). There will be discussions on family needs and trends, strategic considerations for firms, options relating to the delivery of integrated solutions, new service delivery models — structure and implementation, considerations for outsourcing and establishing strategic alliances, storytelling from peers and plenty of networking and time to connect.
If you have not yet registered, in-person seating is now limited, so click here to join us, explore the agenda and learn more about the event.
For an overview of what to expect, check out Family Wealth Report’s recent article – Symposium Preview: Helping Firms Adapt To Evolving UHNW Realities. Learn about each session and hear from presenters about this year’s content.
Oh, and by the way… If anyone shows up in their UHNW socks from last year, you’re in for a huge surprise!
Be sure to explore the Institute Resource Library resources and other reading recommendations in preparation for the upcoming Symposium.
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BOOKS, ARTICLES & WHITE PAPERS
The Multi-Family Office of Tomorrow—Simplifying Complexity for Families of Significant Wealth
Schwab Advisor Family Office
This survey research white paper offers a comprehensive in-depth look at the current state of the multi-family office (MFO) industry as of 2023. Multi-family offices are expected to provide an increasingly broad suite of services and expertise including more of the Ten Domains than ever before, including family dynamics, health care concierge, philanthropic advice, personal security and cybersecurity. Wealth advisors face important decisions when considering what services they will provide in-house and what may be better sourced to a third-party specialty provider. Recommendations and opinions are provided in the paper concerning where the industry may be going.
Developing Integrated Wealth Advisors with Tom McCullough
Tom McCollough
In this informative and engaging interview with the Family Office Exchange, a prominent MFO advisor discusses his 2023 Journal of Wealth Management article that first introduced four distinct markers of an integrated advisor — mastery, mindset, method and maturity.
The Rise of the Integrated Advisor
Tom McCollough
Ultra-high-net-worth families, frustrated with traditional, product-focused advisory models, are driving the rise of a new professional role: the integrated advisor. Tom McCullough, CEO of Northwood Family Office, examines how integrated advisors address these clients’ multifaceted needs through a more holistic, family-centered approach.
Family Matters: Family Focused Family Office
Mark Tepsich, Nicole Sebastian
This paper introduces the family-focused family office (FFFO), a service delivery model that shifts the focus from financially-based goals toward developing skills that enhance cohesion across the family enterprise. An FFFO prioritizes family communication, financial education, trust-building, leadership development and resilience. Governance structures reflect this service model, focusing on goals that align with the family’s values.
Kristin Twiford, Nines
Many of today’s client families value the nonfinancial capitals of the family as highly as they do their financial wealth. This article explores the concepts of integrated wealth management and holistic wealth management through the lens of a family-focused family office model. Advisors wishing to adopt a more balanced service approach in their family offices will find this a valuable read.
Wealth 3.0: The Future of Family Wealth Advising
Dennis T. Jaffe, James Grubman, Kristin Keffeler
Written by three industry experts who are Institute members, Wealth 3.0: The Future of Family Wealth Advising outlines how the field arrived at this point over the past forty years and what will be needed to establish a positive vision of family wealth advising in the future. Written for wealth professionals, Wealth 3.0 introduces a paradigm with significantly improved practice, professional organization, education/training and research. It outlines how family wealth advising could evolve into a more enduring, scalable, rigorous profession.
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TOOLS & RESOURCES
Dennis T. Jaffe, James Grubman, Kristin Keffeler
This primer offers a simple overview of the concepts in the book Wealth 3.0: The Future of Family Wealth Advising. Graphics show how the field evolved over the past forty years and demonstrate how improved practice, professional organization, education/training and research can support each other to usher in a more positive vision of family wealth advising.
The Multiphasic Service Model (MSM) – Coming soon
