Transitioning from an Operating Business to a Family Enterprise
Family Business Magazine » Family Offices
by Abbie Boyer
1M ago
This webinar will delve into the pivotal moment in wealth creation when the focus transitions from building a business to selling it, and to strategically managing a wider family legacy. We’ll explore the emotional aspects of business succession and the concept of creating a lasting legacy. We’ll also discuss what it means to become an intentional wealth steward. This webinar offers: Guidance for navigating the post-sale landscape. Strategies for architecting an effective management blueprint for your family enterprise. Crafting an actionable roadmap to define your family enterprise’s imp ..read more
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Leading Both Finance and the Family Office at Vermeer
Family Business Magazine » Family Offices
by Margaret Steen
1M ago
Ryan Agre holds the dual role of vice president of finance and family office for Vermeer Corporation, a manufacturer of industrial, commercial and agricultural equipment based in Pella, Iowa. He talks about the challenges and opportunities the role presents. How did your dual role as VP of finance and family office come about? Back in 2011, I was coming out of law school and was looking for my next adventure. I was in the Pella area and knew the Vermeer family. My experience before I went to law school included finance — I’m an accountant — as well as M&A activity and experience in the fam ..read more
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The ‘Mini’ Family Office
Family Business Magazine » Family Offices
by Margaret Steen
1M ago
Nathan Myer’s family sold their 94-year-old family business, Universal Electric Corp., which made electrical distribution systems for data centers, in 2019. Since then, his branch of the family has redesigned their family office and moved to Puerto Rico. He explains how they have structured their family office to keep the family together while preserving flexibility for individual family members.   Why did you create a family office when you sold the business?  From my vantage point on the board of our 94-year-old family business, I felt a continuation of our industriousness and gene ..read more
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Fair and Equitable Governance: Duchossois Capital Management 
Family Business Magazine » Family Offices
by Margaret Steen
1M ago
Craig Duchossois is executive chair of Duchossois Capital Management (DCM), the investment company and family office of the Duchossois family. The family sold Chamberlain Group, Inc., a leading maker of access control systems such as garage door openers and gate access devices, in 2021. He talks about the creation and evolution of a “hands on” holding company to a diverse investment company that now includes their family office: Family office origins Fourteen years ago, I approached my siblings to share my concern the next family leader was 30 years my junior. Running a hands-on holding compan ..read more
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Navigating the Family Office Landscape: Key Considerations
Family Business Magazine » Family Offices
by Abbie Boyer
2M ago
Family offices play a pivotal role in the modern business landscape by providing comprehensive wealth management, preserving family legacies, fostering multigenerational prosperity, and empowering families to achieve their financial and philanthropic objectives with confidence and integrity. During this webinar, we’ll examine a case study involving a typical business-owning family and its structure. We will then provide an overview of the family office concept, exploring its functions, advantages, disadvantages, and essential considerations for family enterprises. Additionally, we’ll address ..read more
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Ensuring a smooth generational transfer
Family Business Magazine » Family Offices
by Brian Bissell
2M ago
Transferring the ownership of a family business from one generation to the next can be challenging, particularly in today’s world, where the financial values and business objectives of multiple generations may differ. As an advisor, I have witnessed the various difficulties families face while navigating the process of transitioning the family business to the next generation. By prioritizing communication and seeking professional support, families can navigate the complexities of generational transfer with confidence and cohesion, while creating enduring value. Understanding Current Complexiti ..read more
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Inflection point: operational excellence = family office success
Family Business Magazine » Family Offices
by Abbie Boyer
2M ago
Have you ever wondered how your family office compares operationally to your peers? Many family offices struggle to assess operational excellence, often due to a lack of benchmarking data and critical insights. As the landscape of family offices rapidly evolves, propelled by increasing complexity around investing and other wealth matters and the expanding scope of services families seek from their family offices, the importance of operational excellence has never been more paramount. Join subject matter experts Erik Christoffersen and Jill Shipley of AlTi Tiedemann Global, along with Fa ..read more
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Six Reasons Why Most UHNWIs Choose a Multi-Family Office
Family Business Magazine » Family Offices
by Elizabeth Anderson
3M ago
Your family office is a point of pride as well as a smart way to manage your business and personal affairs. But you don’t have to have a gold nameplate and command your own staff to reap all of the family-office benefits. In fact, a multi-family office typically offers greater advantages—and ironically, more control—than a single-family office. Here are six ways that a multi-family office gives you more. 1. Security & Compliance Infrastructure, cybersecurity, compliance training . . . it’s tedious, it’s frustrating, and if you’re not out in front of it, you’re putting yourself at risk. Tha ..read more
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Downtown Capital Partners LLC: Structuring the family office for flexibility 
Family Business Magazine » Family Offices
by Margaret Steen
4M ago
The post Downtown Capital Partners LLC: Structuring the family office for flexibility  appeared first on Family Business Magazine ..read more
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K&S LLC: Same Floor, Different Mission
Family Business Magazine » Family Offices
by Margaret Steen
4M ago
How does it work when you create a family office that has close ties to the family’s operating business yet is a separate entity?  Amy Lynch is the CEO of K&S LLC, the family office of the John and Dyan Smith family, which owns and operates trucking company CRST, The Transportation Solution, Inc. John Smith is chairman of the board of CRST. The Smiths formed K&S to manage their household liquid investments in 2012, and hired its first employee, the CIO, that year. Lynch joined from Deloitte in 2015. She is also chief of staff for Hillcrest Holdings, Inc., the holding company that ..read more
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