News and Articles
Family office consultancy lands 100th client
(From Private Banker International, March 8, 2010 issue)
Family Office Metrics, a US-based consultancy that advises single-family offices on converting to multi-family offices, has signed up its 100th client.
The business, set up in 2001 by Jon Carroll, helps family offices with selecting and integrating of systems, improving operations and controls and clarifying business strategy. Its recent growth is another illustration of the growing professionalisation of single family offices (SFOs) following the financial crisis.
Paul McKibbin presents to 200+ family members in Bahrain
Family Office Metrics managing partner Paul McKibbin has just returned from Manama, Bahrain where he presented Shaking the Tree's fourteenth original production - "The Decision" - at the 7th Annual Global Asset Allocation Summit, sponsored by The Family Office Co. BSC(c) ("The Family Office").
Family Office Metrics Announces New Advanced Educational Class
Family Office Metrics announces the launch of the Master Class Series. As advanced educational sessions, each Master Class will go ‘beyond the basics' and share practical and actionable knowledge to educate family members, family office professionals and industry executives.
The first Master Class in the series will take place on February 9, 2011 in New York City. In this one-day session, ‘Performing a Strategic Business Assessment and Risk Controls Review,' attendees will learn how to:
- Identify and manage business risk
- Improve operational effectiveness and efficiency
- Measure internal controls versus peers
- Prioritize business goals and objectives
Family office consultancy lands 100th client
(From Private Banker International, March 8, 2010 issue)
Family Office Metrics, a US-based consultancy that advises single-family offices on converting to multi-family offices, has signed up its 100th client.
The business, set up in 2001 by Jon Carroll, helps family offices with selecting and integrating of systems, improving operations and controls and clarifying business strategy. Its recent growth is another illustration of the growing professionalisation of single family offices (SFOs) following the financial crisis.
Family Offices Eye Portfolio Administration
(From Private Asset Management, March 5, 2010 issue)
Family offices are looking for the most efficient portfolio information systems in an attempt to reconcile asset holdings and measure the overall portfolio performance. Paul McKibbin, managing partner, Family Office Metrics said that family offices are struggling with finding the right portfolio administration systems to fit their investment styles.
21st Century Single Family Offices: What Service Providers Need to Know
(From Private Wealth, September/October 2009 issue)
Executive Summary
Current Trends
-The 21st Century SFO is run like a business. SFOs value quality of service, control, flexibility and cost efficiency more than longstanding relationships
-Generational and technological shifts are the main accelerators of structural change in SFOs. Recent market turmoil has added momentum
-Increased number of providers and solutions creates more flexibility and cost leverage for SFOs
Key Take-away
-SFO service providers who adapt their business model to these current trends will win
Getting Personal: Single Family Offices Undergo Big Change
(From Wall Street Journal, August 21, 2009)
Younger generations of ultra-wealthy families are showing little loyalty to the advisers their predecessors put in place when taking over management of single-family offices, the private companies that manage their investments.
The trend - which may affect not only investment advisers, but other services, such as bill paying and accounting; and advance planning, tax, estate planning and legal experts - was under way before the market's downturn, but is expected to accelerate as investors, jaded by losses and news of scams, look to rebuild their trust.
Family Office Technology
(From Trusts & Estates Magazine, August 2009)
It's a brave new world of connectivity: even in the past few years, there's been a quantum leap in the ability of modern technology tools — designed to improve work group efforts and data management — to help all family office stakeholders communicate and collaborate more easily and effectively. Let's look at what's available — and how one single family office is taking advantage of it all.
Family Offices: In Search of the Easy Button
(From IBSJ Wealth Management Supplement, November 2008)
Jon Carroll is interviewed by Lawrence Freeborn about the technology requirements of family offices.
View Article
Meeting the Challenges of the 21st Century Family Office: Integrating People, Process and Technology
(From Southeast Wealth Management Business, July 2008)
This article discusses how successful families respond to the challenges of increasingly complex offices, effective business processes needed to fulfill the functions of a family office, and how technology completes the picture.
Is a Family Office Within Reach?
(From Wealth, Financial Perspective from Northern Trust, Winter 2006)
Jon Carroll comments on how similar to successful companies, as families grow and prosper, they may find themselves needing more resources to manage their assets; they may need a family office. New options are making this support available for more families today.
View Article
The Importance of Being Benchmarked: It can help your family office meet- or exceed- expectations
(From Trust & Estates, August 2006)
SFO to MFO Conversions
(From Trust and Estates Magazine, August 2005)
Jon Carroll is cited by Patricia Soldano, CEO of MFO Cymric Family Office, and Kathryn McCarthy, independent consultant, in their article about the opportunities and challenges facing a single family office considering the transformation to a multi-family office.
View Article
Is Your Family Office Techno-Savvy?
(From Trust & Estates, August 2005)
One size doesn't always fit all. That's why it's advisable to look at all your options when you want to out-source or build your family office technology to improve productivity and profitability.
People, Process & Technology to Meet Your Fiduciary Responsibilities
(From Senior Consultant, Vol 7, No 8, August 2004)
What high net worth investor would not be attracted by an advisor who has adopted proven technology, best practices and business process implementation based upon professional standards? Advisors and their high net worth clients ultimately have the same objectives when it comes to fulfilling their respective fiduciary responsibilities.
IT Upgrades for Improved Performance in Your Family Business Office
(From Families in Business, December 2003)
As a growing family business owner, you must execute your strategic business plan, build great products, stay focused on maintaining excellent client relationships, and deliver strong financial results. You also need to ensure that your business technology infrastructure provides your company a strong competitive advantage.
Multi-Family Office Outsourcing: Due Diligence and Conflicts of Interest
(From Institute for Private Investors, Investor-Advisor Dialogue & Roundtable, December 2003)
When your family office out-sources activities or functions to others, what sort of conflicts of interest arise and how should you mitigate them?
Business Continuity Considerations for a Small Family Office
(Family Office Metrics White Paper, June 2002)
Since the tragedy of September 11, 2001, most family offices have become more concerned about their ability to continue operations should a serious interruption occur. Taking stock of the basic requirements that must be met, and keeping an eye on costs and complexity, many family offices have implemented simple and cost effective business continuity plans. This whitepaper outlines successful practices that can be easily implemented by your family office.
Designing and Implementing Technology in Your Family Office
(From Families in Business, April 2002)
Today more than ever, families need information about their personal financial affairs quickly and easily. Whether at home or away, family members need to stay in touch with each other in order to make decisions, provide counsel, or just stay informed. Today’s family business office provides the framework for the collection, integration, and communication of personal financial information to the family.
The Functions of a Family Office
(From Journal of Wealth Management, Vol 4, No 2 Fall 2001)
Families today face the challenge of keeping family wealth in the family, while continuing the legacy of the wealth creator. Families that successfully share values through generations will preserve and expand the family’s wealth. The author believes that the most effective approach for a family of significant wealth to preserve and enhance its wealth through the generations is by the creation of a properly functioning family office. The CIO, CFO, and Trustee functions described support the objectives of a wealthy family that wants absolute control over its own affairs, completely customized and personalized service, and privacy. Thoughtfully managed, the family office is the best chance available for a family to successfully share its values and its wealth with succeeding generations.
Restructuring the Family Office & Modeling the Alternative Family Office
(From Sophisticated Investor Strategies, May and June 2001)
Small family offices have several options when they want to upgrade their operations. Families searching for an integrated solution have more options from which to choose.
View Article - Restructuring the Family Office
View Article - Modeling the Alternative Family Office
