"Family office structure decisions directly impact sustainability and success,” said Mack.
Chicago, Illinois (PRWEB) May 14, 2013
Linda C. Mack, founder and president of Mack International, a premier retained executive search and strategic family office/human capital management consulting firm, will speak on two panels at the Financial Research Associates’ (FRA) “Building the Better Family Office” conference on May 15-16 at The New York Athletic Club in New York.
The FRA ‘s interactive agenda is designed to ensure maximum benefit to family office attendees and features a speaking faculty of C-level executives, nationally renowned family office advisors and service providers, and family members and principals. The sessions will focus on developing a blueprint for generational success via systematic planning and enhanced performance metrics.
Linda Mack will first participate in a panel for the session titled “The Hard-to-Value Family Office – Measuring Performance and Accomplishments” along with fellow panelists Natasha Pearl, CEO and Founder, Aston Pearl, and David M. Martin, President, Foster Holdings.
“We will be discussing a single family office (SFO) case study and examine the issues that may arise when setting goals and performance targets, especially when there are multiple generations and potentially diverse succession and measurement priorities,” said Mack.
According to Mack, SFO families need to communicate effectively and engage and educate multiple generations if they are to succeed in building sustainability and longevity. “Our discussion will focus on priorities, staying on track among distractions and ‘emergencies’ and enhancing communications among family members and across generations. We will also stress the importance of 'effectiveness' metrics versus 'efficiency' metrics alone in measuring family office success."
The second panel, “The Evolution of the Family Office and the Impact on the Bottom Line,” will also include Patricia Hale Botoff, Director, Compensation & Benefits Consulting at Grant Thornton, and Wendy V. Kane, President, Mantucket Capital.
According to Mack, “Family offices are dynamic rather than static and will transition over time. Therefore, the key decisions required when establishing a family office must be revisited as circumstances and family needs evolve,” she said.
“This session will provide a detailed discussion of the critical nature of aligning family values and objectives with a family office structure and cost; compensation best practices including considerations of structure, competitiveness, benchmarking and incentives; and the impact of outsourcing versus internal staffing,” Mack added.
"Family office structure decisions directly impact sustainability and success,” said Mack. “This in turn affects the longevity of the family office as well as the family’s overall wealth, and therefore must be viewed as a business decision that requires extensive thought and planning.”
Financial Research Associates (“FRA”) provides the financial community with access to business information and networking opportunities. Offering highly targeted conferences, FRA is a preferred resource for executives and managers seeking cutting-edge information on the next wave of business opportunities.
Other conference sessions will cover a range of issues and topics, including shifting from a family business to a family office; technological challenges in running the modern family office; best practices for sustainability as offices contract and expand; how offices are addressing and maintaining staffing needs; strategically navigating taxes; easing the process of generational transitions; head-on solutions for regulatory obstacles; banking and investing selection, due diligence and reporting; and the bottom line – how much should it cost to run a family office.
About Mack International
Mack International, LLC, headquartered in Chicago, is a global retained executive search and consulting firm serving clients in the family office/wealth management industry on a national and international basis. For more information, visit http://www.mackinternational.com or call 800.976.0015.