FAMILIES AND WEALTH
Wealth offers choices and freedom for families. It allows people to build enterprises, pursue their dreams, give back generously and raise industrious children. Many wealthy families lead purposeful lives, use their wealth constructively and raise successful heirs.
But, it is also common for families that become wealthy to exhaust their family’s wealth. As the saying goes, “shirtsleeves to shirtsleeves in three generations.”
As families grow over generations, their wealth can either grow or decline. There is much to be learned from those families that successfully regenerate their wealth and keep their family united and productive.
For more information: Videos | Overview | Attendees | Speakers
The Building Family Wealth Conference introduces a holistic view on how families can achieve significant new wealth creation in every generation. With breakthrough new research and a systematic method for developing sustainable wealth creation strategies, attendees will learn:
- Successful strategies for developing wealth creators to build significant new wealth over generations
- Productive uses of wealth beyond financial investment, such as supporting philanthropy, governance, family unity and developing the next generation
- Methods for diversifying family assets at the right time with the right strategy
- Ways to build and maintain a unified family and ownership group
- The impact of wealth on family and individual happiness and success.
Participation is encouraged for family members who play central roles in the:
- Strategy, management and oversight of their family’s wealth
- Leadership and decision making of their family, business, family office, entrepreneurial venture, family council or board
- Development of the next generation
Groups of three or more family members are encouraged to attend together to discuss key lessons. Close advisors and non-family executives are welcome to accompany a family. No prior business or wealth management experience or formal education is needed to understand the concepts presented.
$3,000 per person; $2,700 per person for groups of 3 or more from the same family or company. Space is limited so register today!
PREMIER SPEAKERS: WORLDCLASS EXPERTS AND HIGH-PERFORMING FAMILIES
Professor John A. Davis
Founder and Chairman, Cambridge Institute for Family Enterprise
Faculty Chair, Families in Business Program, Harvard Business School
For over thirty years, John Davis has served as an academic, advisor, writer and speaker in the family enterprise field. He is considered a leading authority on family enterprise and family wealth. He is Founder and Chairman of the Cambridge Institute for Family Enterprise, and Faculty Chair of the Families in Business program at Harvard Business School. He is author of Enduring Advantage: Collected Essays on Family Enterprise and co-author of Generation to Generation: Life Cycles of the Family Business, a preeminent work in the family enterprise field.
John Davis describes cutting-edge research results and lessons from leading families on how families generate and manage their wealth over generations.
Professor Howard Stevenson
Sarofim-Rock Professor of Business Administration, Emeritus, Harvard Business School
Howard Stevenson has held several academic appointments at Harvard University, specializing in real property asset management and general management. He is founder and co-chairman of the Baupost Group, which manages partnerships investing in liquid securities for wealthy families. He has authored, edited or co-authored eleven books including Just Enough: Tools for Creating Success in Your Work and Lifeand Make Your Own Luck: 12 Practical Steps to Taking Smarter Risks in Business.
Andy Stevenson, son of Professor Howard Stevenson, manages the Stevenson family’s financial assets.
Howard Stevenson and his son, Andy Stevenson, share their personal account of raising the next generation in wealth, and the impact of wealth on family behavior and life satisfaction.
Chairman, COFRA Group
5th Generation Family and Business Leader
Maurice Brenninkmeijer is the 5th Generation leader of one of the world’s most successful dynasties, the Brenninkmeijer Family of Holland. He is Chairman of his family’s diversified portfolio of companies organized under the COFRA Group. Founded by brothers Clemens and August Brenninkmeijer in 1841, the COFRA Group operates in retail, real estate and private equity, and employs 50,000 people throughout Europe, North and Latin America and Asia. Its core business, C&A, was one of the first retailers to offer ready-to-wear clothing to the public, and is one of the leading fashion retailers in the world. Redevco, a real estate company, manages one of the largest retail portfolios in Europe. The family’s private equity activity is managed through Bregal Investments, which has has invested over $9 billion USD since its inception.
Maurice Brenninkmeijer shares his personal perspective on how his family built their business empire over five generations, kept their family united, and regenerated their wealth for going on six generations.
Advisor to Families and Family Offices
Kathryn McCarthy has over 25 years of experience managing the financial affairs of wealthy families and individuals, and is currently an advisor to families and family offices. She was the founding president of the Sulzberger Family Office (The New York Times Company) and is former managing director of Rockefeller & Co., where she advised members of the Rockefeller family and other families on asset allocation, investment manager selection, personal financial planning and strategic wealth management. She is co-author of the forthcoming book, Rethinking Family Wealth, to be published by the Cambridge Institute for Family Enterprise in June 2013.
Kathryn McCarthy examines how family offices can extend their role beyond financial investments to support families with their strategy, governance, unity, philanthropy and other important dimensions of a family enterprise.
Professor Christopher Geczy
Academic Director, Wharton Wealth Management Initiative
Founding Principal, Forefront Group
Cofounder, GKFO, LLC – a multi-family office
Professor Chris Geczy has been on the Finance Faculty at The Wharton School since 1997 where he teaches investment management and is the Academic Director of the Wharton Wealth Management Initiative. He has taught on investment management, risk management, hedge funds, endowments and foundations, and advanced wealth management strategies. He advises private and institutional investors and ultra-high net worth families on portfolio construction, management and evaluation, asset allocation, investment selection and many other areas. Professor Geczy’s research focuses on wealth and risk management, asset allocation, and his work has appeared in numerous books and journals.
Professor Chris Geczy discusses how rigorous, holistic risk management across a family’s non-liquid and liquid asset holdings is critical to multi-generational growth of wealth.
Member of the Bancroft Family
Chairman, Minot’s Light Family Office
Mike Hill is a fifth-generation member of the Bancroft family, which bought Dow Jones & Co. in 1902. Dow Jones is a publicly traded, American publishing house, most noted for its publication of The Wall Street Journal. The company was led by the Bancroft family, that controlled the company’s voting stock, until it was sold to News Corporation in 2007. Mr. Hill is Chairman of his family’s office, Minot’s Light, where he oversees investment and asset allocation, wealth and estate planning, philanthropy and education. He began his career 28 years ago as a petroleum geologist before focusing on the environment and public health at the United States Environmental Protection Agency.
Mike Hill recounts the tale of how his family owned and built Dow Jones and the Wall Street Journal, then became disengaged and sold their legacy business as the newspaper industry declined.
Vice Chairman, Arezzo and Founder, Schutz
Brazilian footwear designer
Alexandre Birman is the second-generation successor of Arezzo, a Brazilian luxury women’s shoes and accessories company. He is founder of the couture brand, Alexandre Birman, and the footwear company, Schutz, which was purchased by his family business after its remarkable success in the Brazilian and international markets.
Alexandre Birman describes how he grew his family enterprise and family wealth through his own successful entrepreneurial ventures, and shares lessons on how to develop entrepreneurs in families.
Dr. Eileen and Jon Gallo
Advisors to Families on Raising Responsible Children
Founders, Gallo Consulting
Since 1987, Jon & Eileen Gallo have been writers, speakers and advisors on the psychological, emotional and legal issues of family wealth. Dr. Eileen Gallo is a licensed psychotherapist in private practice, where she assists individuals and families with issues related to money, children and family wealth. Jon Gallo heads the Family Wealth Practice Group of Greenberg Glusker Fields Claman & Machtinger. They are co-authors of Silver Spoon Kids: How Successful Parents Raise Responsible Children and The Financially Intelligent Parent: 8 Steps to Raising Successful, Generous, Responsible Children.
Jon and Eileen Gallo describe the many considerations involved in raising a fiscally responsible next generation in wealth.
Managing Partner, Baldwin Bell Green
Tom Steiner has been a business strategy consultant for 30 years, mainly in the organization, operations and information technology sectors for financial institutions, manufacturing, technology and telecommunications firms–many of which are family-owned businesses. Trained as a lawyer and business strategist, he has advised companies in over 20 countries. He is managing partner of Baldwin Bell Green, a boutique management consulting firm focused on strategy and operations, and is co-founder of Mitchell Madison Group and former partner of McKinsey & Co. He is co-author of Technology and Banking: Creating Value and Destroying Profits and The Banking Revolution: Salvation or Slaughter?
Tom Steiner discusses the importance of evaluating the industry life cycle of a family’s assets as a critical component of a family’s long-term investment strategy.
4th Generation President and CEO, The Port Blakely Companies
René Ancinas is President and CEO of The Port Blakely Companies, a fourth-generation family business with forestry and real estate interests in the U.S. and New Zealand. Mr. Ancinas joined the family business in 2005 as successor to the CEO, his cousin. He was a founding member and the first President of the Eddy Family Council, where he led a five-year effort to establish a sustainable family governance structure. He is a professionally trained classical clarinetist.
René Ancinas describes the challenges his family and their business faced that led them to organize their family. He explains the benefits that family governance has brought to his family and enterprise, their family council’s future agenda, and words of advice for families seeking to build family governance.
Professor Heinrich Liechtenstein
Associate Professor of Financial Management, IESE Business School
At IESE Business School, Professor Heinrich Liechtenstein specializes in entrepreneurial finance, management of wealth, and governance of entrepreneurial families. He advises leading families and financial institutions, and conducts research on private equity, impact investing and governance. He is author of the book, Getting Between the Balance Sheets.
Heinrich Liechtenstein examines how families can use their wealth to generate positive social impact, and in return, strengthen their family’s unity, brand and mission over the long-term.
Adam Wolfensohn is a Managing Director at Wolfensohn & Co. where he leads the firm’s environmental markets initiative and efforts to invest in low carbon energy companies in emerging markets. Prior to Wolfensohn & Co, he managed the clean-tech portfolio for the Wolfensohn family office and produced the climate change documentary, “Everything’s Cool,” that debuted at the Sundance Film Festival in 2007. He directs environmental grant making for the Wolfensohn Family Foundation, and serves as a trustee or advisory board member for Rockefeller Philanthropy Advisors, Harvard Center for Health and the Global Environment and others.
Adam Wolfensohn provides a live case example of family impact investing.
Liesel Pritzker Simmons
Liesel Pritzker Simmons is co-founder of the Blue Haven Initiative, a family office dedicated to deploying capital to solve social problems. She is also co-founder of the IDP Foundation, a private foundation with a mission to increase educational opportunities around the world. Liesel is co-founder of Opportunity International’s Young Ambassadors for Opportunity, a global network of young professionals who are passionate about microfinance.
4th Generation Family Board Member, Pella Corporation
President and Chief Investment Officer, Mettle Ventures
Adam Farver is a 4th Generation member of the family that founded Pella Corporation, a privately-owned window and door manufacturing company in the U.S. He serves on the Pella Corporation Board of Directors and is successor his father as Chairman. Mr. Farver is also President and CIO of Mettle Ventures, a hedge fund based in Denver.
Portfolio Manager and Financial Advisor to HNW Families
Matt DuPree, CFA, CPA, has been managing portfolios and advising high net worth families since 1994. He works with Mettle Ventures, a hedge fund based in Denver, in developing and implementing their investment strategy. He is former Senior Portfolio Manager for BNY Mellon and former Financial Counselor at Wealth Management Consultants.
Larry Peck is a private investor whose focus is on equity markets and private equity. His investment style centers around deep research. He has been ranked #2 by Institutional Investor Magazine two years in a row for research coverage. Mr. Peck is former Portfolio Manager at SAC Capital Advisors, a leading global hedge fund, where he managed $450 million in capital. He is also co-founder of Copper Beech Capital, a long/short equity fund which grew to $800 million in assets in five years.
Adam Farver, Matt DuPree, and Larry Peck discuss how one multi-generational family continues to create wealth in every generation through hard work and consensus building plus smart management of financial assets.