2014 FOX Fall Forum - Agenda | Family Office Exchange

Tuesday, October 28 - Family Members, Family Office Executives and FOX Thought Leader Council Pre-Forum Day

10:00 a.m.	Registration desk opens for family members, and single family office and FOX Thought Leader Council members

10:30 a.m.	Introductory Session to the FOX Fall Forum for First Time Attendees

12:00 p.m.	Luncheon

12:45 p.m.	Opening Remarks
	Hosted by: Sara Hamilton, Founder and CEO, Family Office Exchange; Alexandre Monnier, President, Family Office Exchange
1:00 p.m.	GE Capital's Research

	SEMINAR OPTIONS (Please choose one 3 hour seminar, or two 75 minute seminars from below.)
2:00 p.m. -	Seminar 1
5:00 p.m.	Developing Authentic Family Leaders*
	Session host: Amy Hart Clyne, Executive Director, Family Office Exchange
	Family Participants: HC Smith Family Members, Stephanie Smith Choo and Sophie Hawkins
	Speaker: R. Kelly Crace, Ph.D., Associate Vice President for Health and Wellness, William and Mary College
	Members of the HC Smith Family will describe the leadership development program that they conducted for 4th generation future family leaders. The program, led by Dr. Crace, explores the promises and pitfalls of values-based living and leadership for individuals as well as multi-generational families from both a personal and family perspective. While research links values to flourishing, they can also unintentionally get in the way of our productivity, fulfillment and resilience. This workshop will examine these issues and outline a leadership process, called “dynamic blueprinting,” to achieve excellence across generations in your family.

2:00 p.m.-	Seminar 2
5:00 p.m.	FOX Direct Investing Network – Where Are Families Investing their Capital for 2015?
	Speakers: Sara Hamilton, Founder and CEO, Family Office Exchange, Linda Shepro and Seth Jackier, FDX Capital LLC Direct
	FOX and FDX Capital are pleased to profile current investment strategies of importance to our members, and will ask some investors to provide updates on their activities over the past year. We will also present new sources of deal flow for your consideration, as the dynamics of the private equity industry are changing rapidly. On the research side, a panel of technical experts from GE Capital will identify industries where demographics and disruptive technologies are changing opportunities for investors. Join this session to network with peers about their recent deals and co-investment opportunities.

2:00 p.m.-	Seminar 3A
3:15 p.m.	Results from the 2014 FOX SFO Benchmarking Study*
	Speakers: Mariann Mihailidis, Managing Director, Family Office Exchange and Jane Flanagan, Senior Consultant and Director of Family Research, Family Office Exchange
	Please join FOX senior managers Jane Flanagan and Mariann Mihailidis to learn about the key findings from the 2014 FOX Benchmarking Study with highlights from the following best practice areas: Oversight and Governance, Complexity and Cost, Wealth Sustainability, Owner Engagement and Education, Client and Staff Satisfaction. FOX has conducted a peer-based survey to explore the total cost of wealth management and industry compensation and benefits data for most family office positions. The results of this survey not only provide best practices, but also offer a tangible means of demonstrating the value of the family office to the governing board.

2:00 p.m.-	Seminar 3B
3:15 p.m.	Family Governance: How Leading Families Manage the Challenges of Wealth*
	Speaker: Ernesto J. Poza, Professor of Global Entrepreneurship, Thunderbird School of Global Management
	Effective governance empowers leaders of wealthy families and/or families in business to make the most of the unique strength of a family enterprise: the synergy between a strong, unified business owning family and a well-run family enterprise or family office. Ernesto Poza will explain why so many families fail to govern the family-business relationship and the impact this has on their enterprise and wealth. He will also share best practices that successful families in business and affluent families are deploying to build enterprises and wealth that lasts. Case studies of enterprising families that are successfully applying governance best practices in Latin America, Europe, Asia and the United States will be highlighted.

3:45 p.m.-	Seminar 4A
5:00 p.m.	Structuring Family Wealth: Performance Reporting for Meaningful Interpretation*
	Speakers: Douglas S. Rogers, CFA, Chief Investment Officer and Founder, Ascencio Asset Management, LLC and Tania Neild, Ph.D, Founder and CEO, InfoGrate, Inc.
	Families continue to seek a better way of communicating performance results so that end users can gain a thorough understanding of the impact of strategic asset allocation, rebalancing, tactical shifts, and individual manager results and other performance measures. Critical to the success of such reporting is starting the performance discussion at the overall relationship level, and as such, Tania and Doug will share the seven essential elements or questions the investor needs to ask and have answered. Included in the discussion will be strategies for effectively communicating results, essential reporting formats, approaches to take in transitioning from the macro to the micro and guidelines for defining how to interpret performance results.

3:45 p.m.-	Seminar 4B
5:00 p.m.	How To Make Governance Meaningful to Family Members*
	Speaker: Charles Grace, Managing Director, Family Office Exchange and a FOX Family Member
	One of the most difficult things for family leaders to convey to younger owners is the relevance and complexity of family governance. Using our recently completed Family Learning Module, Charlie Grace will provide an overview on governance concepts, and he will show you how to highlight the most important concepts to make the decision-making process a priority for family member. In addition, we will have a family member who has faced this challenge explain what they have learned about the process, and how to avoid the pitfalls of family members who lose interest in the process.

5:00 p.m.	Adjourn

5:30 p.m.	Next Gen Reception
	The FOX Fall Forum is a great opportunity to meet peers, socialize and network. In an effort to connect Next Generation attendees, there will be a cocktail gathering at this year's forum prior to the dinner.

5:30 p.m.	Council Cocktail Hour
	Members from the 9 Family Office Councils FOX operates in US, Europe and Australia are invited to meet their Council level peers at this special cocktail reception.

6:30 p.m.	Dinner at the Art Institute of Chicago
	Family Members, Family Office Professionals and FOX Thought Leader Council members are invited to attend this special event where we will experience ‘food as art’ while encountering some of the world’s finest art treasures.
	Location: Griffin Court in The Modern Wing, a short walk from the Palmer House.

Wednesday, October 29

7:00 a.m.

Registration opens for all family and advisor members

7:30 a.m.

Breakfast
Collaboration Center Open

Relax and refresh at the Collaboration Center and Café open during all meal functions, where you can reconnect with colleagues, meet with Fall Forum sponsors and visit the FOX resource center.

8:30 a.m.

Welcome and Program Overview
Speaker: Sara Hamilton, Founder and CEO, Family Office Exchange

8:45 a.m.

A New Era for Enterprising Families:

Working Toward Collaboration and Collective Impact

Speaker and Session Host: Sara Hamilton, Founder and CEO, Family Office Exchange

Panelists: Christine K. Galloway, President and CEO, Okabena; Dirk Junge President and CEO, Pitcairn; Patricia M. Soldano, Managing Director of Client Service, GenSpring Family Offices and Loraine Tsavaris, Managing Director, Office of the President at Rockefeller Financial

For the past 25 years, FOX has been at the forefront of identifying trends and best practices driving growth and change within the private wealth industry. Sara Hamilton will identify key opportunities for enterprising families in a global economy, describe trends that are changing the landscape, and share insight into what the next generation of leaders will encounter. She will recognize four industry leaders who have contributed over 100 years of service to our industry, and they will share their views on the challenges family leaders will be facing in the next decade.

10:00 a.m.

A History Based on Guiding Principles: The Bemberg Family Enterprise

Speakers: Serge de Ganay, Board Member of Quilvest, the Bemberg family enterprise, and Francesco D'Amico, Managing Director & Member of the Executive Committee, Quilvest Switzerland Ltd.

As a respected leader in the Bemberg Family, Mr. de Ganay will share some of his family’s history spanning 6 generations. He oversees the Quilvest financial business and was involved in selling the business the family owned together for over 120 years. The governance process that the family has developed over time has made it possible for the family to stay together through the purchase of another industrial business and through leadership changes. Joining Mr. de Ganay will be Francisco D’Amico, a key family financial advisor and expert on family governance, who has assisted the family in identifying valuable family traditions and supporting their strategic philosophy for putting private capital to work

10:30 a.m.

Break at the Collaboration Café

11:00 a.m.

Peer Dialogue for Family Members and Family Office Executives

Select your appropriate group:

Wealth Owners and Family Leaders
Executives for Business-centric Offices
Executives of Small Offices (1-5 employees)
Executives of Medium Offices (6-15 employees)
Executives of Large Offices (16+ employees)

11:00 a.m.

Advisor Member Idea Exchange

Adding Value to the Industry and Perspectives of Industry Founders

To be attended by FOX Thought Leaders Council, MFO Council and Advisors

12:30 p.m.

Luncheon

Hosted by: Alexandre Monnier, President, Family Office Exchange

Pencils of Promise

Luncheon Speaker: Adam Braun

As a student, Adam Braun, was inspired by a film to travel to developing countries to see poverty firsthand. In India, he asked a boy he encountered what he wanted most. The reply stunned him: "a pencil." Braun gave the boy his pencil and never forgot how his face lit up. He returned home with a goal of starting an organization to raise money to build a school overseas. Since 2009, Pencils of Promise has partnered with communities and governments to build 206 schools in Latin America, the Caribbean, Africa and Asia. It also trains teachers and covers other school costs. Braun's book, The Promise of a Pencil, released this spring, was a New York Times best-seller.

Afternoon Learning Breakouts

Forum attendees have the option of attending one of five topical education breakouts per each session persiod

2:15 p.m.

Choose one of the following breakout session options:

Positive(ly) Wealthy:

Ten Recommendations for Preparing the Next Generation Wealth Owner

Speaker: Jill Shipley, Managing Director - Family Dynamics, Education and Governance, Abbot Downing

“What can I do to ensure the wealth has a positive impact on the next generation?” While there is not a silver bullet solution or a guarantee of success, this session will provide insights and examples to help parents, family office professionals and wealth advisors address this common question. Jill will provide concrete tools, guidelines and success factors for empowering and engaging your next generation family members including an actionable listing of the ten recommendations for preparing the next generation wealth owner.

Risky Business: Is Your Trustee Role a Mission Impossible?

Speakers: Loraine B. Tsavaris, Managing Director, and Elizabeth P. Munson, Rockefeller & Co.

Do you have...or are you considering engaging individual trustees for your family's trusts? Do you currently service as...or are you considering being a trustee of your family's trusts? All too often trustees are not aware of the challenges, obstacles and inherent risks that can arise in establishing and maintaining a complex fiduciary relationship.

Utilizing checklists, lessons learned and sound experiential advice, Loraine and Liz will provide a template for families considering trustee selection and from-the-trenches survival guide for those who may be chosen for such a role. Come learn how to navigate your Mission Impossible so that it is possible to help your family succeed and thrive while also reducing the peril in what come become...Risky Business.

Case Study: Metrics for Measuring Value in the Family Office

Speaker: Julio Cazorla Aiguabella, Grupo Corporativo Landon, Barcelona Family Office

Julio Cazorla will share some of the leading practices implemented by the family, including the Critical Controls Checklist that his management team uses to manage key projects in the family office.

We will review their Human Resources process for Performance Management and Performance Measurement and Julio will discuss how firm-wide metrics are developed for the managers of the office.

Case Study: New Thinking on Hedge Funds

Speakers: Brad Balter, CEO, Balter Liquid Alternatives and David Sackler, President, Summer Road LLC

The Sackler family has been a multi-generational investor in hedge funds for over 20 years. They recently transitioned a portion of their portfolio from traditional limited partnership structures into liquid alternatives, also known as alternative mutual funds or ’40 Act vehicles. Are these vehicles the truest form of innovative disruption the hedge fund industry has seen in decades? In partnership with the family’s long-time liquid alternatives consultant, Brad Balter and his firm Balter Capital Management, they think this is precisely the case. This has led to a reclassification and a new framework for the family’s approach to hedge fund investing. The discussion will include a detailed synopsis of how the Sackler Family began their process of due diligence and journey into the liquid alternatives space.

The Impact of Economic Disparity on the Future of Tax Policy

Speaker: Jeff Cook McCormac, Senior Advisor, Policy & Taxation Group

Policy and Taxation Group commissioned important research by leading pollster Frank Luntz to understand why resentment toward high net worth individuals has increased so much in recent years and what the impact of heightened class conflict has been and will be on the future of the fight for estate tax relief. As Policy and Taxation Group has remained exclusively focused on the estate tax fight, several PATG families launched a separate effort called Each American Dream to continue this valuable research and reduce the stigmatization of success in the economic debate. Jeff will share this relevant research with Fall Forum families and advisors as he provides updates on the impact and perceptions of income disparity on families of wealth, as well as a preview of what the elections may have in store for the continuing tax policy debate on Capitol Hill.

3:15 p.m.

Break/Collaboration Café

3:45 p.m.

Choose one of the following breakout session options:

Who are the FINANCIAL CREATIVES in your Family System?

Speaker: Joline Godfrey, CEO, Independent Means, Inc.

The evolving expectations of family governance practices and family transitions are bringing a more diverse set of family members into the heart of family operations—including those members who self-identify (or could be identified) as FINANCIAL CREATIVES. Financial Creatives: those creative, but slow to open financial reports; entrepreneurially spirited, but not practiced in how to critique a business plan; leaders whose talents and energies the family wants and needs, but who may otherwise ignore more traditional plans and actions.

This session will help families and their advisors identify the characteristics of financial creatives, how to leverage the strengths they bring to family service while respecting and supporting the financial creatives in their midst.

Expert Panel: Sports Team Ownership- Balancing the Rewards with the Responsibilities

Speakers: Bill Mulvihill, Senior Vice President, Head of Sports and Entertainment Group, US Bank and Chuck Stutenroth, CFA, Regional Managing Director Ascent Private Capital Management of U.S. Bank

As the economics of professional sports evolves, ownership of a franchise as a general or limited partner presents a unique investment opportunity. Chuck will facilitate a multi-disciplined panel with extensive experience in buying, selling and operating a professional sports franchise. The panel will discuss the legal and financial issues potential owners should consider when contemplating an investment, particularly from the point of view of a private family. In addition, the panel will provide insight on some of the more important challenges and opportunities facing Sports Franchise, including the explosion of media rights, international expansion, and league governance.

Building a Comprehensive Family Office Communication Plan

Speakers: David Martin, President, Foster Holdings, Inc. and Dulcie L. Truitt, President and Chief Executive Officer, Briar Hall LLC

Members of the US Executive Council will lead a session that describes how a group of 30 leading family office executives worked together to develop and later to refine a Family Office Communications Plan at their two meetings this year. The plan provides a compilation of the best thinking of the Peer Council members, using the 20+ years of experience that each participant brought to the discussion. There are action steps for the Family Board, the Family Council, the Investment Committee, the External Advisors, and the staff relations with both family members and other staff members. Further discussion and feedback will be solicited from the participants in this session who will review the work done to date on this new resource document.

Liquid Alternatives: Managing Alpha Across the Investment Spectrum

Speakers: Bernard Abdo, Managing Director - Alternatives and Fund Solutions, Deutsche Asset and Wealth Management and Steven Einhorn, Vice Chairman, Omega Advisors

Liquid Alternatives have risen in popularity for family offices and families as they increasingly bring these vehicles to supplement their alternative allocations. Packaging and delivery of these return streams have been brought to market in the form of Alternative '40 Act Funds or Alternative Private Investment Partnerships. Do these innovative liquid vehicles deliver on their return expectations and alpha generation? How can they work in tandem with other more traditional investment vehicles? Bernard Abdo will share views of the hedge fund landscape, including current trends and how liquid alternatives can be implemented as an alpha and diversification tool for investors. Hedge fund manager, Steve Einhorn will provide an overview on his current investment outlook and positioning in this dynamic market.

Data Security and Privacy Issues – Staying on Top of the Game!

Speaker: Dr. Cédric Jeannot, Founder & CEO, I Think Security Ltd

As an expert in information secrets, cyber attacks and corporate espionage, Dr Cédric Jeannot utilizes his experience in the field of cryptography, authentication, key management and forensics in various high-profile security projects. An author and frequent internal speaker on the topic of information security and privacy, he is currently involved with LOQ, an information security and control service that provides asset managers with a competitive advantage while enabling technology that reduces risk exposure and supports compliance efforts.

Dr. Jeannot will address the common, and not so common, digital security and privacy threats to families, family offices and advisor firms and how to stay ahead of the cloud and mobile game.

7:00 p.m.

FOX 25th Anniversary All Member Dinner

Location: Field Museum

Join us for cocktails and dinner as we celebrate FOX's 25th Anniversary amongst the dinosaurs and ancient artifacts at the world-renowned Field Museum.

Thursday, October 30

7:30 a.m.	Breakfast Visit Collaboration Center

9:00 a.m.	Opening Remarks Speaker: Alexandre Monnier, President, Family Office Exchange

9:30 a.m.	A View From the Bridge*
	Speaker: Neil Howe, Founding Partner and President, LifeCourse Associates Neil Howe is a renowned demographer and authority on generations and social change. He develops and implements cutting-edge research, analysis, and consulting services to help clients understand how generations impact marketing and workforce issues as well as strategic and financial planning. As a historian, economist, and demographer, Neil Howe is a recognized authority on global aging, long-term fiscal policy, and migration. As a bestselling author, he has written over a dozen books on generations, demographic change, and fiscal policy, many of them with William Strauss. Howe and Strauss originally coined the term “Millennial Generation” in 1991, and wrote the pioneering book on this generation, Millennials Rising, in 2000.

10:45 a.m.	Break/Collaboration Cafe

11:15 a.m.	The Client of the Future: Experience, Expectations and Engagement*
	Speaker: Amy Hart Clyne, Executive Director, Family Office Exchange Knowledge Center The new era of enterprising families will be characterized by an unprecedented transfer of wealth that is currently underway and will continue to escalate over the next twenty years. Unfortunately, not much has been determined about how these new recipients of wealth will actually engage within an existing family management wealth framework. Family Office Exchange has been leading the charge to examine the 3Es: Experience, Expectations and Engagement of these new and emerging clients of the future and how their perception of the world will ultimately impact the relationship between themselves, other family members, family office executives and advisors with whom they will…or won’t… engage.

12:30 p.m.	Closing Luncheon - Families Making and Impact
	Hosted by: Sara Hamilton, CEO and Founder, Family Office Exchange Luncheon Speakers: Michael Coors, CEO, Outlast Technologies, Advisor and Officer, One Thousand and One Voices and Hendrik Jordaan, President and CEO, One Thousand and One Voices One Thousand & One Voices™ is a movement of influential families investing Relational Capital, Intellectual Capital and Patient Financial Capital — or Three-Dimensional Capital™ — to profitably accelerate prosperity in rising markets. The consortium of aligned families from around the world has the objective of accelerating prosperity in rising markets while increasing prosperity for investing families. The One Thousand & One Voices model is anchored in values-based investment grounded in the time-tested principles of free enterprise and the belief that: Prosperity results from jobs of which people can be proud Profitable companies create jobs of which people can be proud Values-based investment of the Three-Dimensional Capital™ model builds profitable companies

2:00 p.m.	Wrap up and Adjourn

	CPE Credit is offered to those attending sessions marked with an asterisk(*) Up to 10 hours are offered to those attending October 28-30 programming Up to 7.5 hours are offered to those attending October 29-30 programming.