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Nov 1 Conference To Discuss "Full Balance Sheet" Of Clients' Lives

Tom Burroughes

19 October 2018

Some of the most influential names in North America’s wealth industry will gather in New York City’s Midtown on November 1 to discuss the full “balance sheet” of clients’ lives, covering not only the wealth accumulation and preservation side of the ledger, but also the liabilities and spending patterns as well.

Besides such topics as investment management ideas, the challenges of ultra-low interest rates and the complexities of inheritance, managing aviation assets, luxury residences, education and healthcare will also be covered. The conference agenda is designed to examine clients’ needs holistically. 

At this Family Wealth Report conference, we work with several commercial partners and invite, on a complimentary basis, private family office executives, wealth owners, and senior executives at independent firms serving UHNW clients. As a constructive critic of the industry, we want this conference to help shape the governance of family offices by focusing on the need for expertise and use of technology.

This conference, like those held previously, is an opportunity for attendees to dive deep into key issues, as well as make new contacts and catch up with existing ones.

Held at the offices of Pepper Hamilton LLP at The New York Times Building, and moderated by Andrew Hulsh, partner at the host firm, the agenda kicks off with a keynote speech on the issues of entrepreneurs and their families from TIGER 21 founder Michael Sonnenfeldt, whom this publication has interviewed about his personal story and recently-published book. A session follows on “future-proofed investment plans” – speakers include Michael Felman, president and CEO of MSF Capital Partners, Carol Pepper, CEO and founder, Pepper International, and Arthur Bavelas, managing partner, Bavelas Group. After a break the conference looks at some of the big divergences in the global economy, with a presentation on this theme from Randy Parrish, head of credit at Voya Investment Management. 

The focus of the conference then shifts towards lifestyle management and the arising complexities, as well as aviation, residences, healthcare and education. This panel discussion includes contributions from Susan Sofronas, client services managing director of Geller Advisors and Frazer Rice, of Wealth Actually. Your correspondent will also chair this panel. Sticking with discussions of such big-ticket items is a presentation from David Norton, partner and head of aviation practice at Shackelford, Bowen, McKinley & Norton, on aviation matters.

The afternoon sessions start with a look at inheritors’ dilemmas. A keynote speech on this subject will be given by industry luminary and regular commentator Charles Lowenhaupt. A panel discussion follows on the changing face of philanthropy, facilitated by Rebecca Meyer, Consultant at Relative Solutions, with contributions from Maura Cunningham, founder of Rock The Street, Wall Street, Kim Laughton, president of Schwab Charitable, and Walter Sweet, senior vice president, Rockefeller Philanthropy Advisors. 

Attention then moves onto a presentation on “optimizing the family office formula”, given by Gemma Leddy, partner-in-charge, PKF O’Connor Davies Family Office, and Marc Rinaldi, partner-in-charge, PKF O’Connor Davies.

Concluding the program is a wide-ranging discussion about the right model – if any such exists – for serving ultra-high net worth individuals and families. Panelists include Mel Lagomasino, CEO of WE Family Offices; Bill Woodson, MD at Citi Private Bank; Joe Calabrese, national head of investments at Key Private Bank, Steve Prostano, founder and managing partner, SPI Partners, and acting as chair is Jamie McLaughlin, founder and CEO, JH McLaughlin & Co.