The Family Wealth Report Awards 2023 - Acclaim

Harnessing the power of Client DNA

Client DNATM is a digital profile – unique to every user – comprised of hundreds of pieces of information that InvestCloud has captured, cataloged and sequenced within the InvestCloud Digital Warehouse.

From standard contact, demographic and relationship data, through to goals, interests and engagement, a robust tool for building and maintaining client relationships over an entire lifecycle. With Client DNATM stored within our data model, crucial insights are easily uncovered, driving opportunities for growth, retention and operational efficiency.

Explore our library of 300+ apps

As with all apps on the InvestCloud platform, information is fully integrated. Connect digital communication apps to digital planning, financial shopping and more.

Foreword

The Family Wealth Report awards honor the people who continue to drive excellence in serving high net worth individuals’ financial and non-financial needs at a time when challenges can be tough.

The heart of these awards is the judging process. A panel of judges, drawn from senior figures at banks, technology providers, family offices, law firms, consultancies and other institutions work through entrants’ submissions to draw up the shortlist and eventual winners. Judges bring their experience and knowledge to the table. The quality of a submission provides most of the weight in deciding whether an entrant is shortlisted and eventually chosen as a winner. If a firm or person hasn’t entered the awards, they can’t be selected. Judges are split into groups so that they don’t scrutinize entrants from their own sectors.

Reputation means a great deal in today’s business world and these awards are valuable aids in marketing and branding. The organizers of the awards also know how the process of assembling them sheds light on trends in the sector. It is also an enjoyable event and a chance to deepen our connections, including at the editorial level.

OVERVIEW OF NORTH AMERICAN WEALTH MANAGEMENT SECTOR

The North American wealth management industry got a jolt from the 2022 stock and bond market selloff. North American high net worth individuals’ wealth fell, and those with exposure to Big Tech were hit particularly hard. HNW individual wealth in total fell 7.4 per cent in 2022, and the population of HNW individuals slid by 6.9 per cent (source: Capgemini World Wealth Report 2023). This population shifted from equities –part of a general secular move to private markets. In the early months of 2023, the industry was hit by the demise of Silicon Valley Bank and First Republic Bank.

Although rising rates cooled M&A activity in 2022, with some of the hectic pace of preceding years not continuing, deals

have revived in early 2023 and continued. The TiedemannAlvarium marriage – in the works for some time – was wrapped up, and consolidating in the multi-family office space showed some signs of taking place, although far less busy than for RIAs. Rising compliance costs and client expectations, and a desire for independence, continues to drive deals.

The industry is facing up to how artificial intelligence/machine learning will affect it, and whether this will enhance advisor productivity and revenue generation. Technology is also, hopefully, making it easier for holders of relatively illiquid private market investments, such as venture capital, to see how values change, manage capital calls, and other tasks.

The Judging Panel

The Family Wealth Report Awards 2023 judging process was guided and assisted by a panel of independent experts, each of whom has been actively involved in the wealth management industry for many years and have an in-depth knowledge of the North America sector.

Independence, integrity and genuine insight are the watchwords of the judging process with the judging panels made up of some of the industry’s top trusted advisors and bankers.

PATTI BOYLE

Chief Marketing Officer Dstillery

BUZZ BRAY Principal Bray Executive Search

RICHARD CHEN Managing Partner Richard L. Chen PLLC

VIKRAM CHUGH

Chief Operating Officer Robertson Stephens

THERESA CLARKSON Solutions Architect InfoGrate

MICHAEL COLE Managing Partner R360

CAROLE CRAWFORD Managing Director, Americas Region CFA Institute

KELLY EWART VP of Strategic Relationships Pure

LISA FEATHERNGILL National Director of Wealth Planning Comerica Bank

DOUGLAS FRITZ Founder and CEO F2 Strategy

RONNA GYLLENHAAL Head of Global Family Office and Institutional Marketing

BNY Mellon Wealth Management

THOMAS J HANDLER Partner Chairman, Advanced Planning and Family Office Practice Group Handler Thayer

CAROL R. KAUFMAN Founder and CEO Pinventory

GEMMA LEDDY Partner-in-Charge

PKF O’Connor Davies Family Office

DENNIS MANGALINDAN Vice President SEI

EDWARD V. MARSHALL Global Head of the Family Office And HNW Group Dentons

GIO MASO Family Office Advisory Services EY

JAMES H MCLAUGHLIN Founder and CEO J H McLaughlin & Co

The Judging Panel

A shortlist was identified from the hundreds of entries received for these awards and a discussion took place with the judges to agree the winner of each category. The judges were split into three groups, dependent on their industry; a panel of trusted advisors were responsible for judging the private banking categories; a panel of private bankers judges the trusted advisor categories; and new for this year we had a specialist group of tech experts judging the technology categories. This was to ensure that commercially sensitive information was kept confidential and conflicts of interest were avoided.

REBECCA MEYER Consultant Relative Solutions

GARY W POTH Executive Managing Director Key Family Wealth

GREGORY F. ROLL Co-Founder Touchpoint

MIKE SLEMMER LP Sales Director Dynamo Software

NEIL NISKER Co-Founder, Executive Chairman and CIO Our Family Office

JONATHAN NORTH Head of Products 4Pines Fund Services

STEVE PROSTANO Partner, Head of Family Advisory Services PKF O’Connor Davies

JOSEPH W REILLY JR CEO and Founder Circulus Group

APRIL RUDIN Founder and President The Rudin Group

SUSAN R SCHOENFELD CEO and Founder Wealth Legacy Advisors

RUSDI SUMNER Vice President, Chief Operating Officer Market Street Trust

WILLIAM TROUT Director of Wealth Management Javelin Strategy & Research

MICHAEL WAGNER Co-Founder and Chief Operating Officer Omnia Family Wealth

BRUCE WEATHERILL Chief Executive Weatherill Consulting

BILL WOODSON Advisor Various

MICHAEL ZEUNER Managing Partner WE Family Offices

WINNER: Aquilance

WINNER: Arabella Advisors

WINNER: Ascent Private Capital Management of U.S. Bank

WINNER: Bailard Inc.

WINNER: BNY Mellon Wealth Management

WINNER: Canoe Intelligence

WINNER: CIBC Private Wealth - Wanda Colburn

REFINITIV WEALTH SOLUTIONS

Wealth is all about people. Your clients.

And when every client is unique, o -the-shelf advice is simply o the table.

Our solutions combine world-leading content with an intuitive workflow that lets you deliver personalised advice to every client to achieve greater financial wellness.

THERE IS NO AVERAGE INVESTOR. THIS IS NO AVERAGE SOLUTION. Visit refinitiv.com/wealth-management

We’re about much more than paying bills, we’re about financial clar ity.

Aquila nce wa s fou nded i n 1987 to add ress t he complex needs of highl y aff luent famil ies by elimi nati ng the ti me spent on per sonal fina ncial admin ist rat ion, a nd by providi ng ti mely a nd accu rate repor ts to infor m fina ncia l decisions.

Our mission, then and now, is to provide additional time and peace of mind to those we ser ve, providing a path to financial clar it y.

Aquilance Provides Financial Clarity For UHNW Families

Why do you think your organization won this year?

At Aquilance, we provide financial clarity for UHNW families, and for over 35 years it has been our mission to solve the complex, multifaceted needs of highly affluent families by eliminating time spent on personal financial administration, so we are beyond proud of the hard work our team has put in over many years and honored to have won the award for Best Bill Pay solution.

and many have been with us for several decades. Our systems allow us to process thousands of transactions a month –amounting to more than half a billion dollars annually – saving clients and advisors thousands of hours.

How do you intend to maintain the standards you have set?

Our proprietary technology gives us a distinct advantage including scheduling capabilities that allow us to know when payments are due and take corrective action if bills don’t arrive. It minimizes time spent on manual processes, allowing greater focus on delivering value-added services.

We won this year because our team offers a unique, robust customer-service-based approach supported by a proprietary technology platform, which is customizable for each client and designed to help manage their specific needs – whether that’s paying bills, tracking investments, or keeping track of the complex entity structures of wealthy families.

While we are growing rapidly, we have invested considerably in technology to support that growth without compromising the excellence that we have been known for over decades. Our proprietary technology allows us to pay client bills in an efficient, proactive manner with a machine learning engine providing accuracy and tremendous scale, with a unique semi-automated, management-by-exception approach. Investment in this technology, as well as in technology to enable easier and more timely financial reporting for multi-entity family structures, continues.

Our commitment to excellence is reflected by the longevity of our many clients. Their collective net worth is more than $25 billion,

Flexibility is key – and a core aspect of our technological solution. Our custom technology is based on streamlining as much as possible, while still allowing for a flexible and tailored approach to individual client needs. Given our focus on relationships, offering a flexible and personalized approach is critical, and intentionally built into our technology. Our tech improvements have reduced the amount of time spent on key processes, thus allowing greater focus on personal service.

Please give us a sense of where you think the wealth management industry is headed and what the challenges and opportunities are?

The industry is trending towards a comprehensive service model, with families expecting “administrative” services to be a standard part of the services available to them. Increased complexity and technological specialization make it cost prohibitive for firms to adequately provide all these services in-house.

Opportunity lies in creating purpose-built technology and services that can be easily added as additional offerings for firms looking to enhance their core competencies, at little or no cost to them.

"We won this year because our team offers a unique, robust customer-service-based approach supported by a proprietary technology platform"

Aquilance

• Bill Pay

Winner

Making Philanthropy More

Efficient, Effective, and Equitable

Effective philanthropy can positively impact the most important issues of the day and can leave a far-reaching legacy. But it can also be complex and time consuming. Whatever the challenge you are facing or the size of your investment, Arabella can guide you through each step of the journey, never losing sight of your goals.

Constant Innovation Holds Key To Arabella’s Success

Rick Cruz President and CEO Arabella Advisors

Winner

Philanthropy Advice

Why do you think your organization won this year?

The Arabella team works with a wide variety of clients and partners across the philanthropic sector, and this provides us with an extraordinary opportunity to see emerging trends and needs and to adjust our business to fully meet them. This has been especially true for the family and individual funder sector. Arabella is constantly innovating. In the past two years, we’ve launched new services to meet the unique needs of ultra-high-net-wealth families and individuals.

We also continue to adapt to help ensure that our clients have access to, and guidance for using, a variety of philanthropic funding vehicles matched to their individual goals. Our work model helps eliminate fragmentation and frustration in philanthropic efforts.

What did your colleagues do to contribute to the success this year?

With a staff of more than 400 employees across the United States, we have a deep and diverse bench of philanthropic expertise. From 2016 to 2022, Arabella helped our clients and partners make more than 10,000 grants, to more than 4,000 grantees, located in 105 countries and in all 50 US states, plus Washington, DC and Puerto Rico. We helped our clients deploy more than $4B in philanthropic efforts. The Arabella team is a truly remarkable group of people who work in close partnership with our clients to make the world a better place. Like other service providers, the Arabella team often works behind the scenes, but I know of no group more deserving of accolades for its efforts both to do good in the world and to continually do good better

Please give us a sense of where you think the wealth management industry is headed and what the challenges and opportunities are?

We frequently work with the next generation of wealth inheritors, young wealth creators, and ultra-high-net-wealth (UHNW) families and individuals who are eager to engage on the issues they care about through their philanthropy and impact investing.

When Arabella was founded, many of our clients engaged in direct giving as their only philanthropic activity. The field has since evolved significantly, and many of our clients now pursue a variety of interconnected activities – grantmaking, impact investing, public policy advocacy – all designed to create lasting impact and leverage their funds for the greatest possible impact. Using multiple approaches can create complexities to building an impactful portfolio that maximizes and deploys all different types of capital – financial, social, and intellectual – but our team works to streamline that complexity.

Not only are the challenges donors are looking to tackle more complex than ever, working as a family or a couple on intractable issues is arguably harder than it's ever been. We are all operating in a more polarized world which makes issues feel more threatening to all of us. Arabella has honed our practice to help navigate those difficulties in a way that is best suited for each individual client and their impact goals.

•

Delivering Elegant Solutions With Excellence As A Habit

John Zimmerman President

Ascent Private Capital Management of U.S. Bank is a boutique within U.S. Bank that works with families of substantial net worth to preserve, protect, and grow their assets, helping to secure a legacy that could transform the world for generations.

Why do you think your organization won this year?

Nearly everything we do at Ascent is unique, supported by a commitment to technological innovation and focused on the needs of our families.

In one instance, we quickly assembled a multi-disciplinary team (over a weekend) to secure a $10 million credit facility for an airplane a client wished to purchase.

In another, we arranged a $500 million facility under extreme time pressure to help a client acquire a major sports franchise.

In a third, we provided a multi-million-dollar unsecured loan for a new yacht still under construction in Europe, and incorporated currency hedging into the structure.

These are just three of the many instances where Ascent has built on its close client relationships to find creative ways to help UHNW families get things done.

What did your colleagues do to contribute to the success this year?

For UHNW families, credit is often used strategically to manage the entire balance sheet. Ascent’s success results from the ability to respond rapidly to a wide range of these non-standard borrowing needs with institutional-quality products backed by the strength of U.S. Bank. Because each family is unique, our solutions are unique.

How do you intend to maintain the standards you have set?

Recognizing that “excellence is a habit,” we are constantly driven to improve client relationships, delivering elegant solutions tailored to the needs of each of our families. As a result, we have been remarkably successful in sustaining client relationships over time with an effective 98% client retention rate.

Explain what you had to overcome in getting to this level.

The three cornerstones of the Ascent approach are: alignment around purpose, preparing the next generation, and utilizing advanced technology. But what really sets us apart is our focus on assets beyond the financial – including human, intellectual and social capital – with programs and services designed to transition wealth between generations and to build a strong family culture.

Early in the pandemic we were concerned that it would be more difficult to communicate these higher-level concepts without the benefit of in-person meetings. But we quickly discovered that clients liked to gather virtually provided the subject matter under discussion was targeted and presented creatively.

Please give us a sense of where you think the wealth management industry is headed and what the challenges and opportunities are?

Technology will continue to reshape how products, services, and advice are delivered. Virtual meetings, artificial intelligence, and emergent “mixed reality” tools will all play a role. But technology will never be an end in itself; it must support the client experience. Using technology to enhance client relationships is core to the Ascent philosophy.

Ascent Private Capital Management of U.S. Bank

• Credit Solution Winner

FRANKLY , I think the most important facet of our industry is our values. It’s crucial for clients to really think about where they’re putting their money and who’s managing it.

—Sonya Mughal, CFA Chief Executive Officer

Bailard’s Success Through Accountability, Compassion, Courage, Excellence, Fairness, Independence

Sonya Mughal CEO Bailard Inc.

Winner

Women in Wealth Advisory (Individual)

Why do you think your organization won this year?

Driven by our six core values of accountability, compassion, courage, excellence, fairness, and independence, Bailard serves individuals, families, and institutions alike. We have built a long-term asset management track record across domestic and international equities, fixed income, and private real estate, as well as robust, in-house ESG expertise. Our team combines these investment capabilities with financial, tax, and estate planning to provide comprehensive wealth management. Through it all – and with our values-driven ethic – we work with clients to align their financial portfolios with their values. As of March 31, 2023, our AUM stood at $5.3 billion.

We are also proud to have remained an independent firm since our founding in 1969, and we stand committed to our core values. While this has remained consistent throughout our history, the strength of our client service has been particularly important in recent years of unprecedented change, market volatility, and a shift to remote and hybrid workplaces. When I think about this recognition from Family Wealth Report, as well as any time we are recognized by our industry, it often stems back to Bailard’s high-touch client service and relentless pursuit of excellence.

And most importantly, while I am honored and humbled to have been individually recognized by the Family Wealth Report, this is more an acknowledgment of the strength of Bailard’s full organization. The past three years have been challenging to navigate. We’ve seen everything from a pandemic and inflation that proved stickier than expected, to an extremely hawkish Federal Reserve and classic runs on banks. In addition, the nature

of work – how we do it and where we do it – has changed forever. It is only with the strength of Bailard’s 50+ years of experience that we have not just weathered a challenging environment but have been able to grow and thrive through it.

Explain what you had to overcome in getting to this level, such as the aftermath of the pandemic and the economic situation.

In my 29-year tenure at Bailard and in this industry, I have experienced several market cycles. It is always the more painful ones that stand out, like the Tech Bust in 2000, the Great Financial Crisis in 2008-2009, and of course the pandemic that struck in 2020. In each of these situations, it was the commitment to our values that saw us through. We live in an ever-changing world, and now, more than ever before, the pace of change is swift. It is important to be dynamic and not dogmatic yet know the difference between chasing the newest fad versus adapting to a new world. Each of these past market downturns taught us something different, but they all had one thing in common. Stay true to who you are and always bring courage, compassion, and accountability to every interaction you have with clients, shareholders, and colleagues alike.

This document does not constitute advice or a recommendation or offer to sell or a solicitation to deal in any security or financial product. It is provided for information purposes only and on the understanding that the recipient has sufficient knowledge and experience to be able to understand and make their own evaluation of the proposals and services described herein, any risks associated therewith and any related legal, tax, accounting, or other material considerations. Bailard does not endorse or control, either expressly or implicitly, the content posted by any third party and disclaims all comments made or information provided by non-Bailard employees. To the extent that the reader has any questions regarding the applicability of any specific issue discussed above to their specific portfolio or situation, prospective investors are encouraged to contact Bailard or consult with the professional advisor of their choosing.

•

you carving a path for future

Key Industry Trends: Tech, Historic Wealth Transfer, NextGen

Katy Knox President

Winner

With a deep understanding of our clients and their full financial picture, our teams can bring all of Bank of America’s resources and capabilities to any relationship. Last year, the Private Bank made more than 10,000 referrals into other lines of business to support clients with consumer bank, small business, commercial banking and investment banking needs.

Why do you think your organization won this year?

Bank of America Private Bank is uniquely capable of delivering a boutique-style private banking experience that leverages the global resources of Bank of America. We offer our clients the scale and capabilities of the broader enterprise, including award-winning technology, a tremendous balance sheet and a centralized Investment Solutions Group and Chief Investment Office of 1,000 professionals.

As the largest and most established trust company in the U.S., we have been serving the needs of ultra-high net worth individuals, families and institutions for generations. We help clients strategically use credit to create opportunities, fund major purchases and create liquidity from illiquid assets. We are the number #1 art lender in the world, as well as a premier aircraft and yacht lender.

We drove significant year-over-year growth through deepening relationships with existing clients and acquired a record nearly 3,000 new relationships in 2022. Today, clients entrust us with more than $560 billion in assets.

What did your colleagues do to contribute to the success this year?

Our success comes from the relationships our client-facing teams forge with clients and how they deliver for them day in and day out. Our teams are experts in their areas, holding advance degrees, industry accreditations and drawing on long-tenured careers.

Please give us a sense of where you think the wealth management industry is headed.

Two major themes driving this evolution are technology and the historic transfer of wealth.

Bank of America continues to invest in the newest technologies. The company spends nearly $11 billion on technology, including $3.5 billion on new initiatives every year as we also established a record number of patents for our innovations. Bank of America Private Bank has won multiple awards recognizing it as the best private bank for technology and digital client solutions.

All this said, private banking will always be a people-oriented business. Attracting new talent and investing in existing talent is critical. At Bank of America Private Bank approximately 2,000 teammates have participated in career advancement programs. Finally, it’s critical to be in front of the historic wealth transfer underway. As younger generations inherit wealth, their aspirations differ from their parents or grandparents. Our teams understand this and are helping the next generation of family businesses, philanthropists and art collectors prepare for their futures and the legacies they wish to leave.

As we develop the next generation of professionals, we do so with a focus on ensuring our advisors reflect the diverse communities we serve. This will also help us to better engage with the next generation of clients.

Bank of America Private Bank

• National Private Bank

WINNER: Day Pitney, LLP

WINNER: Delegate Advisors

WINNER: Dentons

WINNER: Emergency Black Bag

WINNER: Dynamo Software

WINNER: Fiduciary Trust Company

WINNER: Foundation Source

RECENT RESEARCH OUTPUT

Why Wealth Managers are the Ultimate Private Market Matchmakers (in partnership with Hywin Wealth & VP Bank)

This report tackles both the supply and demand for private market opportunities in both the Asia-Pacific region and globally, a topic which will continue to be hugely important for the wealth management industry as H/UHNWs seek enhanced returns and diversification in a challenging investment environment and billions of “dry powder” await deployment.

External Asset Managers in Asia - New Directions for Rapidly-Expanding Sector (in partnership with UBS)

Our second annual report examining the growth of Asia’s EAM sector, covering both the powerhouses of Singapore and Hong Kong, and emerging markets like Thailand and the Philippines. This study looks at the growth prospects for independent advisors in the round as they seek to tap the region’s booming wealth and growing client acceptance of the EAM model.

Family Office Focus: An Update of the Industry's Efficiency in Accounting and Investment Analysis (in partnership with FundCount)

A deep dive into the key technological and operational challenges facing family offices in their accounting and investment analysis activities. Based on surveys and interviews among family offices managing over $72

billion in assets, this is an invaluable benchmarking tool for the sector which presents fascinating insights into future developments from a range of industry experts.

Applying Artificial Intelligence in Wealth Management - Compelling Use Cases Across the Client Life Cycle (in partnership with Finantix & EY)

This comprehensive report identifies elements of the institution and advisor’s workloads that are ripe for AI amelioration, and points the way for firms seeking to maximise the competitive advantages offered by new technologies. AI experts and senior industry executives enrich each chapter, answering crucial questions on risk, KYC/AML, compliance, portfolio management and more.

Virtuous Circles: Sustainable Family Governance Models in an Evolving Environment

(in partnership with Jersey Finance)

Essential reading for UHNWs and their advisors, this report unites the findings of a global survey of practitioners and the views of a panel of experts drawn from leading firms, but perhaps most interestingly of all, the paper features a wealth of real-world examples illustrating what forward-thinking families are doing to create lasting legacies.

Winning Women in Asia-Pacific

(in partnership with VP Bank & Hywin Wealth) Asia-Pacific’s wealthy women represent a

highly attractive target client group. Yet, they remain an underserved one in many senses in spite of their growing financial power and pronounced need for professional advice. Our second report examining women’s specific needs presents truly actionable insights drawn from interviews with H/UHNWIs and their advisors right across the region.

Technology & Operations Trends in Wealth Management 2022

(in partnership with SS&C Advent)

This succinct yet wide-ranging report shines a light on both macro and micro trends, beginning with industry growth sentiment and ending on operating model evolution, taking in every key area of development in between. It brings together datapoints and candid comments senior executives at leading consultancies across the world’s major wealth markets to create an invaluable peer benchmarking tool.

Technology Traps Wealth Managers Must Avoid 2023

(in partnership with EY)

With EY providing the overview, this report draws on the front-line experience of many of the technology sector’s biggest names, in recognition of the fact that they are the ones going in to solve wealth managers’ most pressing problems and have typically seen the ramifications of firms’ choices play out numerous times – not to mention in various contexts globally.

Shannon Kennedy On Elevating Women, BMO Beams, Feel Good Fridays

Shannon Kennedy Global President BMO Family Office

Winner

•

Women in Wealth Family Office (Individual)

You won the 'Women in Wealth - Family Office' award. How do you work with women on wealth planning?

I have always stressed the importance of financial literacy with women. I encourage the women of the family to be involved in the wealth planning and management process from the get-go so that they are always prepared for whatever is to come. I have also found that female entrepreneurs and business owners tend to shy away from giving themselves what they are truly worth. I encourage them to pay themselves fairly and then assess how much they can re-invest in their company.

When you won this award, you were the Global President of BMO Family Office. Now you have been promoted to Head of US Advisory and Interim Head of US Wealth for BMO. How do you help other women advance their careers in the business?

During my time as Global President of BMO Family Office, I helped establish and launch the Women’s Advisory Network which focuses on coaching, mentoring and sponsoring women advisors at BMO. When I joined the work force in 1988, I found that women were very competitive with each other, particularly because finance can be such a male-dominated space. That just isn’t the case anymore –there’s enough room at the table for all of us, and I am committed to elevating women in any way I can. At BMO, 40 percent of our senior leadership positions are held by women. That diversity of thought leads to innovation, better decision-making and growth.

As CEO, how do you foster a happy workplace environment?

The most critical components in my mind are: clear communication and transparency about our company-level goals and leadership’s decision making; fostering a responsive culture that operates with a sense of urgency; and keeping the work environment professional but relaxed. We communicate out frequently through staff

meetings, a monthly newsletter email from me, and a weekly “Feel Good Friday” email that most of the time doesn’t have anything to do with work. I also have brown bag chat sessions with employees to hear what is on their minds and solicit employee feedback through surveys. This year, our motto and guiding principle was: AOR – Acknowledge, Own, Respond! This phrase reminds each employee to be highly responsive to every request that comes to them, which helps our operation flow smoothly. Finally, we encourage our team to utilize BMO Beams – notes of appreciation colleagues send each other. We periodically “surprise and delight” employees with small tokens of appreciation or extra time off.

Are there mottos that guide you day-to-day?

One of my favorites is “go ahead and ask – nos are free.” This mindset applies in many areas – whether we are getting scrappy with trying to execute an initiative on a limited budget, or trying to help advance the career of a colleague, or negotiate something on behalf of our clients or our team, it never hurts to ask for what you want.

The Women in Wealth - Family Office (Individual) Award was presented by the Family Wealth Report (FWR) to Shannon Kennedy on May 4, 2023. FWR presents wealth management industry awards annually with each award representing achievements in the previous year (2022). “BMO Family Office” is a brand delivering investment management services, trust, deposit and loan products and services through BMO Harris Bank N.A., a national bank with trust powers; family office services and investment advisory services through BMO Family Office, LLC, an SEC-registered investment adviser; and trust and investment management services through BMO Delaware Trust Company, a Delaware limited purpose trust company. These entities are all affiliates and owned by BMO Financial Corp., a wholly-owned subsidiary of the Bank of Montreal. BMO Delaware Trust Company does not offer depository, financing or other banking products, and is not FDIC insured. Not all products and services are available in every state and/or location. Family Office Services are not fiduciary services and are not subject to the Investment Advisers Act of 1940 or the rules promulgated thereunder. Investment products and services: ARE NOT A DEPOSIT – NOT INSURED BY THE FDIC OR ANY FEDERAL GOVERNMENT AGENCY – NOT GUARANTEED BY ANY BANK – MAY LOSE VALUE Capital Advisory Services are offered by a division of BMO Harris Bank N.A. BMO and BMO Financial Group are trade names used by Bank of Montreal. Views and opinions expressed herein are Shannon Kennedy's and do not necessarily reflect the views and opinions of BMO. #16974476

The Nature Of Managing Family Wealth Is Changing Fast

Why do you think your organization won this year?

BNY Mellon is the world’s largest global custodian bank, with $46.6 trillion in assets under custody as of March 31, 2023, touching 20 percent of the world’s investable assets. For nearly 240 years, we have been helping families build, manage, and preserve their wealth.

Christine

Head

BNY

Our Global Family Office Group, which is part of BNY Mellon Wealth Management, understands the unique and evolving challenges that families face, starting with the first liquidity event and creation of the family office, continuing through the transition of the office to future generations. Along the way, families and family office executives are required to make critical decisions, such as choosing an office structure, selecting trustees, hiring staff, evaluating investment advisors, protecting assets and implementing investment strategies that align with the family’s mission and goals.

Our experience serving family offices allows us to anticipate client needs and align our resources and advice accordingly, as well as spearhead important insights, like the ones found in our inaugural family office study, “Shifting Horizons: Insights Into How Family Offices Are Responding to Rapid Economic & Social Change”

How do you intend to maintain the standards you have set?

Our client-centric approach focuses on delivering solutions and advice to help family offices, as well as their advisors, manage the complexities that exceptional wealth presents. Backed by BNY Mellon Wealth Management’s resources, our clients have access to world-class investment management and custody solutions, sophisticated estate planning and fiduciary support, holistic wealth

management strategies and top-tier private banking. We understand the intricacies of tracking, reporting, and analyzing investments across multiple money managers, asset classes and legal structures, such as family partnerships, trusts, and private trust companies.

Where do you think the wealth management industry is headed?

Today, our clients are looking for proactive, trusted partners who are actively engaged in helping them flawlessly fulfill specific mandates for their family offices. While every family office is unique, they all operate within an institutional framework.

We believe this decade will be defined by speed. Information is moving at a rapid rate, markets are in constant flux, and the nature of managing family wealth is changing fast.

Top priorities family offices are facing include navigating a world of inflation and a new rate environment, more interest in private investing and impact investing, conversations around succession planning and engaging the next generation of family members.

What does success look like to you?

Success for us is the value we create for our clients and how satisfied they are with our services.

To that extent, 94 percent of our family office clients value our overall client satisfaction and loyalty, 85 percent of our clients were willing to recommend BNY Mellon Wealth Management to their network, and 92 percent of our clients were satisfied with the quality of service provided by their Wealth Managers1

1 2021 GFO Client Satisfaction Survey

Curtiss Gill

of Global Family Office

Mellon Wealth Management

BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation and may be used to reference the corporation as a whole and/or its various subsidiaries generally. This material does not constitute a recommendation by BNY Mellon of any kind. The information herein is not intended to provide tax, legal, investment, accounting, financial or other professional advice on any matter, and should not be used or relied upon as such.

BNY Mellon assumes no direct or consequential liability for any errors in or reliance upon this material. © 2023 The Bank of New York Mellon Corporation. All rights reserved. | WM-391896-2023-06-08

Operational Excellence Impacts Investment Team’s Performance

Why do you think your organization won the 'Business Process Outsourcing' Category?

I’m more excited about winning this category than any other because it proves that many family offices and institutional investors are moving away from fully outsourced operational models. Canoe significantly alleviates the burden of the alternatives processing workflow from investment operations teams; however, we are not an outsourcing company in the traditional sense. We offer an in-house technology solution, enabling teams to keep control of their data and workflow while at the same time achieving far greater transparency, accuracy, and speed. Alts outsourcing models typically have a fatal flaw – documents and data are processed within a black box, making it extremely difficult for operations teams to monitor and reconcile potential errors. The stakes are only getting higher, and timely access to accurate data is absolutely critical. Operationally savvy firms are recognizing that it’s beneficial to keep these workflows in-house, automate what they can, and maintain their involvement where it truly matters.

Please give us a sense of where you think the family office priorities are evolving.

We have seen very difficult investment landscapes; from extremely frothy environments where deal cycles were as fast as a few days, to now a completely new regime defined by heightened volatility, rising interest rates, and overflowing geopolitical tension. In response, family offices are re-evaluating their exposure across nearly every asset class. With this rapid evolution of portfolio strategy, investment operations are no longer in the backseat – rather they have become critical to a family office’s success. Investors recognize that operational excellence can materially impact the investment team’s performance. Operational inefficiencies can significantly affect the investor’s ability to allocate to managers, deploy capital across their portfolios, and ultimately deliver the best possible investment outcomes for their

families. Without a sound operational program, investment decisions may be made with stale or incomplete data related to open commitments, available cash, or exposures. Everything is no longer moving to the upper right, and family offices cannot afford to be even slightly constrained by operational inefficiencies.

How do you intend to maintain the standards you have set?

Most importantly: we listen to our clients. Family offices partner with Canoe to bring automation to their alternative investment workflows but the desired business outcomes tend to vary, so our approach is never cookie-cutter. We illustrate the impact automation may bring to the client organization, understand how our solution will fit within their broader workflow, and ensure we’re constantly delivering value. A large amount of our product enhancements are influenced by client feedback. Our team has significant industry experience, from folks who have held front, middle, and back office roles and others coming from asset managers or investment technology companies. It also helps that our leadership has built successful products and companies before! Canoe was incubated within a single-family office and we’ve kept that DNA – it’s deeply important we speak the same language as our clients. A year and a half ago, I was employee #45, and now we’re over 100 people with offices around the world. We’ve reinvented our internal processes multiple times in a short span, from our product development cycles to our implementation framework – each time getting better and with heightened specialization. It’s a great benefit to our single-family office clients when their dedicated relationship manager only works with similar firms. Each year, Canoe has grown significantly across our client base, employee headcount, and product capabilities. We recently completed a $25M series B fundraising round led by F-Prime Capital, a leading fintech investor and partner to disruptive companies. Canoe is uniquely positioned to continue meeting and elevating our standards.

Pete Clancey Director - Family Office Business Canoe Intelligence

• Outsourcing/ Business Process Outsourcing

Winner

From building a future

To leaving a legacy

Your clients have their eyes focused on the big picture, and CIBC is the firm with expert advice and tailored solutions to help make their visions come true. Because for over 155 years, we’ve helped clients go from where they are, to where they want to be.

COMMERCIAL BANKING | PRIVATE BANKING | PRIVATE WEALTH

Understanding NextGen’s Unique Values To Prepare For The Great Wealth Transfer

Wanda Colburn Managing Director CIBC Private Wealth, US

Explain what you had to overcome in getting to this level.

Throughout my 30 year tenure in wealth management, I have overcome numerous challenges, including the most recent ones stemming from the COVID-19 pandemic and economic volatility. The pandemic was a unique and unprecedented challenge that required a rapid shift to remote work and digital communication. Like so many others, I had to quickly adapt to new technology and communication platforms to maintain contact with clients and ensure their investments were being managed effectively. I also had to be proactive in reaching out to clients and prospects to provide reassurance and guidance during a time of great uncertainty. The economic situation has also come with its share of challenges due to rising interest rates, market volatility and changing regulatory requirements. I have continued to remain vigilant and stay up-to-date with the latest economic data, trends, and regulations to ensure our clients’ investments are well-positioned to navigate the changing financial times. I’d credit some of my success in overcoming challenges to my ability to adapt to changing circumstances, remain focused on long-term goals and consistently provide personalized service.

Whom do you look to for inspiration and ideas?

As an active member in the Denver community, I look for inspiration and ideas from philanthropists and community leaders

who have made a positive impact in their respective fields. As a veteran managing director at CIBC Private Wealth, US, I am consistently inspired by my colleagues, clients and industry experts who share their insights and unique experiences. I also attend conferences and networking events to stay up-to date with the latest innovations in the industry. Ultimately, I believe inspiration can come from anywhere. For me, my purpose is people. I am deeply committed to serving clients, colleagues, family, and the people in my community – all of whom inspire me personally and professionally every day.

Please give us a sense of where you think the wealth management industry is headed.

Over the past three decades, I’ve witnessed significant changes in the wealth management industry, driven by technology, changing demographics and regulatory updates. The industry’s ability to adapt to these advancements has resulted in more customized, efficient and comprehensive services to clients. Looking ahead, the wealth management industry faces a new set of challenges, particularly as millennials are set to inherit an estimated $68 trillion over the next few decades.1 While the transfer of wealth presents a significant opportunity for financial advisors to expand their client base, the challenge lies in understanding the unique preferences and values of this generation – like technology, financial education and socially responsible investing – and adapting to their needs. I think that by embracing innovated technologies and tailored approaches, financial advisors can build strong relationships with millennials as they help this next generation achieve their financial ambitions.

1 CNBC, What the coming $68 trillion Great Wealth Transfer means for financial advisors.

• Leading Individual (MFO)

Winner

Day Pitney’s Sophisticated Cybersecurity Services For Family Offices

R. Scott Beach Chair of the Family Office Practice

William “Bill” Roberts Co-Chair of the Data Privacy, Protection and Litigation Group Day Pitney LLP • Cyber Security

Why do you think your organization won this year?

Day Pitney, a law firm with close to 300 attorneys spread across 13 offices, is home to one of the largest and most sophisticated private client practices in the country. Families and family offices across the country choose Day Pitney because of the depth and breadth of services we provide.

Among these services is our cybersecurity practice that has a special focus on the needs, risks, and concerns of family offices and family members. Our clients choose Day Pitney because we provide end-to-end service that confidently addresses the data privacy and protection and cybersecurity risks families face with respect to their personal lives, their finances, their investments, and more. We guide families through a cybersecurity risk assessment and work with them and their technical advisors to ensure appropriate measures are in place. We also have a team ready should a family face a cybersecurity threat, whether it be a data breach, ransomware, or theft.

What did your colleagues do to contribute to the success this year?

Our team provides a wealth of robust thought leadership, resources, tools and education opportunities for our clients through events, presentations, articles and white papers on topics covering investment strategies, transition planning, wealth transferring, family and business governance, and leadership succession.

As one of the few private client and family office practices in the country with a specific focus on serving our clients’ cybersecurity

needs, we are able to effectively advise clients on protecting their confidential information and assist them in the event of an incident.

How do you intend to maintain the standards you have set?

Drawing on our broad experiences in law, compliance, information technology, finance and public policy, our team is well-positioned to provide sound, innovative advice on continuously evolving cybersecurity and data privacy and protection issues across all business sectors.

We continually provide a personal approach to all client interactions making us better equipped to understand the cybersecurity needs of the family office and then advise them moving forward. Empathy is a big part of it; we listen to them, and they know we are as engaged in this as they are, which allows the relationship, not the transaction, to take center stage.

What do you hope will be the result of receiving this accolade?

Day Pitney believes our team will continue to thrive for the same reasons that thousands of individuals and families worldwide come to us – unparalleled understanding of the private client practice, deep connections nationwide, a manner of practice grounded in trust, meaningful connections, supporting clients and their families through the generations, and offering a wide array of services and solutions.

We also advise on family office vendor and outsourcing contracts, and conducting family office cyber-risk assessments and counseling regarding potential cybercrime activity.

Winner

Andy Hart On Tech’s Pivotal Role While Maintaining Indispensable Human Touch

Delegate Advisors was founded in 2012. Since then, our firm has grown and transformed, yet our core focus remains the same: to provide highly customized investment and planning advice to our clients.

We’ve continued to grow each year and now serve 38 clients across the country. With more than $2.8B in assets under advisement, our team is small, but mighty, with numerous accreditations and designations under our belt.

Our growth, specifically among families of this size and complexity, under-scores our business and service model and the desire for independent advice away from sales mandates.

Why do you think your organization won this year?

Delegate’s demonstrated ability to solve unique client challenges has proven to be tremendously valuable for clients.

In the past year, we’ve helped clients with numerous, complex wealth challenges that ultimately helped them make informed decisions, resulting in positive outcomes and have multi-generational impact.

How do you intend to maintain the standards you have set?

Our firm seeks to improve the lives of our clients and to improve the world in which we live. To support this goal and to meet the growing demand among clients for philanthropic and impact investing guidance, Delegate has created a role dedicated to helping clients become more proactive in their giving efforts.

This position also places emphasis on assisting clients in creating and maintaining family governance systems aimed at safeguarding their wealth for future generations.

Additionally, it involves offering advice on sustainable investment strategies, supporting the funding of businesses that share their core values.

Please give us a sense of where you think the wealth management industry is headed and what the challenges and opportunities are.

The wealth management industry is heading toward a future marked by increased digitization, heightened regulatory scrutiny and evolving client expectations.

Technology will play a pivotal role in delivering personalized and efficient services.

Data analytics and artificial intelligence will enable wealth managers to gain deeper insights and offer more sophisticated investment strategies.

However, maintaining the human touch and building strong client relationships will remain essential.

Advisor

Andy

Dentons Team Fulfills Legal Family Office Needs

Edward Marshall Global Head, Family Office and HNW Group Dentons US LLP

Winner

• Legal Team of the Year

•

The Dentons Family Office (DFO) team offers clients the experience and insight of over 350 colleagues who work with prominent family office (FO) enterprises to find cutting-edge solutions to a myriad of legal and business issues. The DFO global team has gained tremendous traction in the FO community as an innovator in fulfilling the accelerated demand for such legal services.

Why do you think your organization won this year?

The DFO team sets the professional standard in offering innovative solutions that result in the high-caliber advice expected by our clients in diverse jurisdictions around the world. It is not only our team’s aptitude in successfully navigating our clients through complex cross-border transactions, tax systems, real estate issues, corporate regulations, and cybersecurity concerns to name a few; but our pioneering approach and thought leadership which are contributing factors to being recognized as the 'Law Firm of the Year' for the second year in a row.

Leading Individual (Service Product Provider)

What did your colleagues do to contribute to the success this year?

Our success is chiefly attributed to the determination of our DFO group in providing detailed and tailored solutions for the benefit of our clients. The perfect example of our colleagues collaborating across practices and regions is noted in our a unique Family Office Direct Investing Survey Report. The first of its kind, curated by a legal industry innovator, this report offers thought-provoking insight, supported by comprehensive data, into the factors FOs consider as they weigh investment options reflecting curated results based on current market indicators and potential future trends. This survey reveals responses from almost 200 FOs in 33 countries, outlining the key factors driving FO investment strategies and the outlook for 2023.

Please give us a sense of where you think the wealth management industry is headed.

This question is answered in our FO Direct Investing Survey Report. In recent years, we have witnessed a trend toward direct investments by FOs. The ability to make these investments is attractive; however, the economic and geopolitical turmoil we are facing in 2023, requires FOs to spread risk through diversification, as well as gain market and regulatory intelligence to identify suitable opportunities.

In addition to our acclaimed Family Office Direct Investing Survey Report, we discuss developments currently shaping the industry in our Family Office Intel podcast series. We co-authored a book on FOs; we released a white paper and database covering the 101 questions FOs should ask their lawyers when endeavoring to improve their structure; and we launched Exit+, which advises clients on effective strategies in selling a business.

In evaluating top needs for 2023, deal flow was No. 1 among FOs, with more opportunities and better-quality deals and/ or new partners sought. In terms of investments, private equity is an area of focus for opportunities. The most likely future industries of interest for direct investments are healthcare (65%), disruptive technology/digital tech (61%) and commercial property (58%).

"The DFO team sets the professional standard in offering innovative solutions that result in the high-caliber advice expected by our clients in diverse jurisdictions around the world."

Dynamo Enables Personalized, Secure And Digital Investor Communications

Why do you think your organization won this year?

I believe this award is a reflection of our dedication to building a world-class cloud platform with end-to-end capabilities for the alternative investments ecosystem. Dynamo Software is leveraged by more than 1,000 clients around the globe to manage in excess of $10 trillion in assets because it is configurable, cloud-based, automated, and versatile.

In today’s cluttered market, personalized and digital communication is essential to engage with and retain investors. As new funds launch and your investor base grows, collecting information, monitoring engagement, and responding to ad hoc reporting requests can place undue strain on investor relations and finance teams.

The Dynamo Investor Portal makes two-way communication with prospective and existing investors manageable and productive.

The key to success is maintaining the balance of personal, human touch with the smart use of digital tools. Dynamo enables both so family offices and wealth managers can communicate most efficiently and effectively with their clients.

Whom do you look to for inspiration and ideas?

Client needs and feedback are the driving force behind the Dynamo platform. Every product update contains hundreds of new enhancements that are mostly sparked by client input. When clients make requests or comments, these are translated into development requests that improve the experience for our entire user base.

We hold client luncheons and user events to ensure we’re actively soliciting input and remaining aligned with investor needs and expectations. Our annual two-day Boston-based user conference, Dynamo

University, enables those intimate discussions with our clients. We’ve expanded this event regionally too to help further foster highly meaningful conversations that influence our product and service delivery roadmap.

How do you intend to maintain the standards you have set?

It starts with a client-centric approach and overall mindset. We also use a proprietary Global Health Score to manage our relationship with clients. This score provides deep levels of insight to help our team more understand client sentiment, mutual engagement, and overall satisfaction.

As a result of the Global Health Score, Dynamo has a centralized and comprehensive measurement of all client relationships. It ensures the relationship between Dynamo and every client continues to grow in a meaningful manner. This effort has created an annual Net Revenue Retention (NRR) greater than 110 percent, with clients also providing a 97% positive rating post-implementation. Please give us a sense of where you think the wealth management industry is headed and what the challenges and opportunities are?

Without a doubt, technology will grow more central to investment management.

Of course, we need to address the hot topic of AI! Artificial intelligence is poised to have a transformative effect across all industries, including the financial services. Investing in alternatives relies heavily on human expertise and judgment.

However, we anticipate significant opportunities to enhance investment decision-making and processes through increasingly sophisticated work flow processes, data analysis, risk assessments, predictive modeling, and intelligent automation.

Hank Boughner CEO

Dynamo Software

Botoff Consulting is the premier provider of compensation data and consulting services to family offices, family investment firms, and family business enterprises across industries and geographies.

We conduct leading studies, and continue to build and maintain the most expansive database of family office, family investment firm, and estate and household compensation data.

Compensation Benchmarking

Benefits

Benchmarking

Compensation Structure

Incentive Plan Design

Compensation Strategy

Performance Management Governance and Board Support

Litigation/Expert Witness Support

www.circulus.com

inquiry@botoffconsulting.com

www.botoffconsulting.com

United States: Los Angeles, Charlotte, Atlanta

WINNER: Genus Capital Management

WINNER: InvestCloud

WINNER: JDJ Family Office Services

WINNER: Key Family Wealth

WINNER: leafplanner

WINNER: Ledgex

WINNER: Mammoth Technology - Erin Heck

Emergency Black Bag: Bridging The Gap In (Global) Medical Support

Why has your organization won this year?

Since 2009, Emergency Black Bag’s singular mission has been to protect the health of our clients, their friends and families, and their colleagues, by providing emergency medical consultancy.

We have convened a network of experts in the fields of emergency medicine, wilderness medicine, critical care medicine, pediatric emergency medicine, evacuation, translation, and security.

Our team can react in real time to client needs and adapt our responses to the rapidly evolving situations in which people may find themselves

One of Black Bag’s clients, a couple in their upper 80s, were traveling in Tanzania in a Jeep without seatbelts. The vehicle rolled over and the couple was crushed. They were taken to the local hospital by car, as there was no EMS and then transferred to a more sophisticated hospital in Nairobi, because both had punctured lungs and the wife had eight broken ribs.

The couple’s daughters connected with Dr. Chris Sidford, whose expertise in the medical complexities of trauma care, proved invaluable in eventually getting the couple safely back stateside.

The client’s daughter shared:

“Dr. Sidford was so knowledgeable, most importantly in medical trauma. He reviewed charts, gave us questions to ask, and gave us the advice we needed to safely get our parents home after three weeks convalescing in an African hospital. Their punctured lungs made an immediate medical evacuation unsafe, so ongoing access to Dr. Sidford during that time frame was invaluable. I cannot thank him enough.”

When and where there is no 911, there is always Emergency Black Bag.

Emergency Black Bag is also deeply committed to making a difference in the world.

Dr. Chris Sidford is a dedicated supporter of organizations working towards advancing human rights. He has spent over a decade connecting with leaders in the field of children’s health and education. Some of the causes about which he feels passionately include World of Children’s Awards, Room to Read, and Community Solutions

Dr. Sidford is eager to capitalize on the networks he has across countries and disciplines in order to best care for and support underserved populations.

Please give us a sense of where the wealth management industry is headed and what the challenges and opportunities are?

Black Bag is in a strategic position to help the clients of family offices, where trusted advisors in multiple arenas serve the diverse needs of an entire family. Our practitioners are experts in software and cyber security, physical security, investing and risk management, philanthropy and family transitions, and emergency health.

Black Bag helps navigate an increasingly complex healthcare system and is an antidote to the shrinking access to primary care physicians and specialists who have less and less time to answer patient questions and address individual needs.

Black Bag works holistically with clients’ usual health care team. We bridge the care gap in unknown and atypical circumstances, by providing immediate medical intelligence for the treating physician.

Chris Sidford Founder and Medical Director Emergency Black Bag

• Healthcare Services

Impactfully Provides Transparency To Philanthropy

Steve Aponte Vice President of Product & Strategy

Why do you think your organization won this year?

Ninety percent of affluent households are active in charitable giving, yet philanthropy has been virtually overlooked by the wealth tech community. Philanthropy is an important part of a complete financial solution for wealthy families. It builds multi-generational legacies while creating social impact in the world.

Impactfully, from Foundation Source, is a new agile platform that can easily be incorporated into family office operations to provide transparency, efficiency and effectiveness to the philanthropic piece of a portfolio.

Its innovative technology and economies of scale lower the cost of foundation ownership and minimize the administrative burdens for family offices, while also offering greater opportunities to coordinate with investment, tax and legal advisors to ensure a holistic approach to wealth management.

Specifically, we enable single and multi-family offices to deliver a higher level of service along with the tools and insights that can help family members achieve greater impact with their charitable dollars. Impactfully’s integrated dashboard offers families and their advisors a comprehensive view of activities, engagement features and simplified workflows for grantmaking and administration.

Clients also benefit from fast onboarding, charity research tools, seamless data imports, the ability to plan, make and monitor grants, expenses, grant application tracking, annual payouts monitoring, and more.

How do you intend to maintain the standards you have set?

We hold ourselves to the highest standard of stability and reliability. To that end, we continuously enhance our technology solutions with state-of-the-art tools to maximize philanthropic impact. Today, we support more than 2,000 foundations of all sizes representing over $20 billion in charitable assets and have a 98 percent retention rate. We are a trusted partner to affluent philanthropists and their closest advisors, providing tailored support every step of the way.

Whom do you look to for inspiration and ideas?

Our clients inspire us every day with their desire to make the world a better place. Our company is rooted in the belief that every charitable act has the power and possibility to make the world better. Foundations offer one of the most powerful giving toolkits, while also allowing families to retain control of the donated assets and create an enduring legacy.

What do you hope will be the result of receiving this accolade?

Our goal is to give families and their advisors the tools they need to be successful. Whether a foundation is getting started or well established, we offer configurable technology solutions that suit each unique set of client needs. Our innovative technology, proven workflows, and years of experience have lowered the cost of foundation ownership and minimized administrative burdens while also making it easy for families to use every capability of their private foundations to bring their philanthropic visions to life.

Foundation Source

• Product Innovation (B2B)

Winner

Genus’ Pursue For Diversity Results In Better Decision Making And Success

What did your colleagues do to contribute to the success this year?

Our team at Genus played a pivotal role in contributing to our success this year. Executive and leadership team members actively participated in diversity training and education programs, ensuring that they understood the importance of inclusivity in wealth management, and could share it with their respective teams. Genus fosters a workplace culture of diversity and empowerment. Our commitment to diversity helps us to better serve our clients, our communities and pursue innovation.

How do you intend to maintain the standards you have set?

CEO

To maintain the high standards we have set, we will continue investing in diversity and inclusion initiatives. We are currently developing a comprehensive diversity, equity and inclusion policy and will regularly review and update that policy and our practices to ensure they align with evolving best practices and industry standards. Diversity and inclusion in our asset management company has grown and evolved along with the firm. Many studies have shown that diversity brings strength to companies in the form of new ideas, broader perspectives, and innovative approaches to challenges and crises. At Genus, we know first-hand that this is the case.

Explain what you had to overcome in getting to this level?

Getting to this level was not without challenges, especially considering the aftermath of the pandemic. This forced us to adapt rapidly to remote work and virtual client interactions. Work-from-home policies enabled us to grow our team beyond the capacity limits of our office, and

ongoing hybrid policies have enabled us to be flexible in our hiring processes, allowing us to grow the team and further increase the diversity of our team.

Whom do you look to for inspiration and ideas?

We actively seek input from our clients, industry experts, and thought leaders who have demonstrated a commitment to diversity and inclusion. We also engage in partnerships and collaborations with organizations that share our values. By learning from others' experiences, we can continuously refine our practices and stay at the forefront of promoting diversity in wealth management.

What do you hope will be the result of receiving this accolade?

Receiving this accolade is a validation of our efforts and serves as a testament to our commitment to diversity and inclusion. We hope that it will inspire other organizations in the wealth management industry to prioritize diversity and actively work towards creating a more inclusive environment.

Please give us a sense of where you think the wealth management industry is headed and what the challenges and opportunities are?

We believe the wealth management industry is heading towards a more inclusive and client-centric approach. We have a growing recognition internally that diverse perspectives contribute to better decision-making and outcomes for our clients. Embracing diversity, adopting sustainable investing strategies, and delivering holistic, values-driven wealth management solutions are what we see as the key to success in this evolving landscape.

Steve Au

Genus Capital Management

• Diversity in Wealth Management (Company)

Our experienced, professional staff works with clients and their advisors to provide customized accounting, financial administration, and lifestyle management services. We simplify our clients’ lives by managing these responsibilities, freeing them to focus on those activities they value most. We solve their problems creatively, and help them plan for their future no matter where life takes them.

Our mission is to build meaningful long-term relationships with our clients. We do not manage money or sell products, which enables us to keep our clients’ interests as our top priority. We don’t just help people, we care about them.

JDJ’s Focus: Family Office Services To Simplify Clients’ Lives

James M. Kittler Co-founder JDJ Family Office Services

Winner

• Concierge/Specialist Service Firm

• Rising Star Under 40

Why do you think your organization won this year?

JDJ is a nationally recognized and an award-winning multi-family office. Our focus: simplify the lives of our clients to give them back their time.

Our Lifestyle Management team sets us apart. This award-winning division delivers resourceful, well-executed solutions including household management, payroll administration, property and casualty insurance oversight, concierge requests, event planning, construction oversight, and investment property administration.

Our Lifestyle services complement our comprehensive financial administration, reporting, and bill paying services. We are truly a ‘one stop shop’ to manage the lives of our clients.

What did your colleagues do to contribute to the success this year?

Our lifestyle management team, led by Senior Director Elana Vasi-Smith, solves a variety of unique challenges creatively, and consistently exceeds client expectations.

No matter the challenge, the team will take it on, implement a plan, and be ready to pivot when needed. If we can’t handle it ourselves, we connect them with someone who can.

Our families depend on our creativity, discretion, and attention to detail. We take pride in our ability to deliver!

How do you intend to maintain the standards you have set?

We create a customized plan for each family to outline the optimal communications and approval process. The client team convenes

regularly to ensure our programs are on track and ensure team communication. We incorporate process and program changes into our plan and review and adjust it regularly.

Our families come first. We set high standards for ourselves and our results. It’s that simple.

Explain what you had to overcome in getting to this level.

Since our beginning in 2001 with one client, JDJ has grown to 85+ ultra-high-net-worth clients comprising 280+ entities. We have increased our revenue and expanded our staff every year, while maintaining our personalized client focus and standards of excellence.

During the pandemic, we pivoted to a virtual work environment. As people returned to the office, staff chose their ideal “base of operations.” We began to hold in-person social events last year to continue to foster camaraderie and make our team even stronger.

Our focus on our client service and our fiduciary responsibility is the foundation of our success – even as we work through changing market conditions and economic challenges.

Please give us a sense of where the wealth management industry is headed.

The number of UHNW families and their complexity continues to grow, with strong demand for family office services. Many firms offer these on an ancillary basis. What sets JDJ apart - providing family office services is our core business and singular focus.

"Our families come first. We set high standards for ourselves and our results. It’s that simple."

Elana Vasi-Smith and James Kittler holding their 'Rising Star Under 40' and 'Concierge/Specialist Service Firm' trophies at The Tenth Annual Family Wealth Report Awards 2023.

Together with our clients, we reached the top.

Key Family Wealth is one of the largest and oldest family offices in the country. We take a generational approach in all that we do. And have done so for more than 190 years.

Our award-winning service starts with the understanding that wealth is personal. Wealthy families face complexities that require special expertise and sophisticated planning techniques. That’s why a dedicated team of highly credentialed advisors with an average tenure of 22 years will work closely with you and your family.

In all that we do, we strive to exceed client service expectations. This is one reason our clients stay with us year after year – most for more than 20 years.

Put your plan into action. Contact or visit key.com/generations.

Key Family Wealth’s Consultative Approach Leads To Client Satisfaction

Why do you think your organization won this year?

Key Family Wealth is a truly differentiated multi-family office serving firstgeneration business owners and their families and a relentless focus on improving the client experience with its integrated platform. Our enhanced consultative services for business owners, legacy planning and education gives our clients an edge when it comes to succession planning and achieving their goals. Their passions are intertwined with the businesses they have built, their legacies and their families.

Key Family Wealth stood out this year because of our client satisfaction and commitment to achieving their goals. Our consultative approach sees their motivations through more than money through our legacy planning and family education services. Our ability to listen, connect, learn and execute sets us apart.

As one client said recently, “Thank you for these thought provoking questions to begin this process. As I mentioned on the call, I believe this format is truly what I had been hoping, and in hindsight really didn't know how or what to ask for.”

The time Key Family Wealth spends understanding a client’s pain points, fears, and dislikes have proven to be learning edges that over time leads clients to more open and trust-based practices.

What did your colleagues do to contribute to the success this year?

KeyBank is built on a foundation of collaboration and teamwork. Our principled culture is defined by how best to help our clients and communities thrive. This relentless focus on relationships means that high levels of collaboration exist not just within various professional disciplines throughout our wealth management business, but also across Key’s retail, commercial and

investment banks – providing clients with access to the full breadth of KeyBank services.

Whom do you look to for inspiration and ideas?

We continue to be inspired by different industries that achieve excellence in various ways. For example, as a fiduciary, we value the client-centricity of professional services firms that focus on the importance of advice more than products. We also admire technology firms that have reshaped consumer behaviors through innovation and set new and high standards for servicing clients simply and easily.

What do you hope will be the result of receiving this accolade? How does it help your business in this region?

We continue to be proud of the reputational excellence that Key has developed throughout the years by staying laser-focused on our clients, employees, and the communities we serve. We are humbled by this accolade, which serves to endorse our legacy of reputational excellence in wealth management and our fiduciary capabilities across our footprint.

Gary Poth Executive Managing Director Key Family Wealth

Family Wealth Report has an unmatched reputation of independence, integrity, and genuine insight in the awards judging process. We are delighted by the degree to which our clients notice, care about, and value this third-party recognition. We will proudly promote this accolade across our website and marketing materials.

"We are humbled by this accolade, which serves to endorse our legacy of reputational excellence in wealth management and our fiduciary capabilities across our footprint."

• Family Wealth Counseling

Winner

Prepare and educate family members and advisors for an effective, comprehensive, and efficient succession of information.

BENEFITS

Provide a tool to effectuate requirements of planning.

Easily facilitate reviews of financial, insurance, and legal planning.

Track life changes requiring adjustments to planning strategies.

Deepen client relationships with family members.

leafplanner For Efficient Succession Of Information

leafplanner is charting new territory as it establishes itself at the intersection of WealthTech, professional services technology, and family office management to enable families of wealth to be better engaged, educated, and empowered.

Having productized over three decades of wealth advisory and risk management expertise, leafplanner enables clients to collect, organize, and map a family’s and family enterprise’s information on a secure software platform.

Allowing a family to identify blind spots, take proactive and corrective actions, and be better prepared, resulting in an effective, comprehensive, and efficient succession and succession of information.

leafplanner was designed from the ground up to prepare for a succession of information in a way that has rarely been accomplished.

A comprehensive leafplan solves for the multitude of advisors, the different roles and responsibilities of various parties, and the plethora of existing technologies across which data and information is captured and managed in today’s complex family and family office ecosystem.

A leafplan is an ever-evolving family owner’s manual that allows a family to move beyond the what and where to the how and why.

Why do you think your organization won this award?

We believe we won this award because the judges recognize that we have filled a gap in the industry in an elegant, new, and critically important manner.

Whom do you look to for inspiration and ideas?

We look to the audience we serve –UHNW and family office clients – for our inspiration and ideas. Our goal is to use our decades of experience in the industry and our client’s input about their needs

to continue developing leafplanner in a way that provides value to them that they can’t get elsewhere.

Please give us a sense of where you think the wealth management industry is headed.

We think the wealth management industry is headed toward an ever-increasing desire for, and promise of, a true multi-family office experience, surrounding client families with a truly holistic, integrated set of solutions.

The industry’s biggest challenge, and opportunity, will be developing the knowledge and tools to make good on that delivery.

This will be to the advantage of advisors in the industry who see the importance of bringing together organization, education, empowerment, and transparency, who understand the multi-faceted needs and integrations of the issues that surround families of wealth and will be to the disadvantage of those who don’t have that knowledge or experience, or who simply are not interested in delivering that level of service to their clients.

What do you hope will be the result of receiving this accolade?

While this accolade might lead to business opportunities, more critical is the accolade's impact on our credibility and the recognition of our peers and the judges that we've brought something new and essential to the industry.

By specifically winning in the client-driven innovation category, we hope the industry will also see how we are innovating in an area that can benefit from new tools and approaches.

Josh Kanter Founder and CEO leafplanner

• Client Driven Innovation (B2C)

Purpose-Built Platforms Free Up Time For Family Offices

Nicole Eberhardt CEO Ledgex

Why do you think your organization won this year?

Managing family wealth is complex and becoming more so with growing interest in alternative investing. Family offices have distinct needs that can only be met with purpose-built technology, not general investing solutions or antiquated legacy systems. It’s validating to be recognized for effectively and uniquely answering this dynamic market’s needs, particularly in the accounting category.

Ledgex Pro is a multi-asset class portfolio management and accounting solution built by a seasoned team of software professionals. This extensive experience in portfolio and partnership accounting solutions is evident in our product suite. It’s specifically designed for family offices, foundations, endowments and multi-strategy managers. It’s the most comprehensive offering for family offices to manage diverse portfolios from front to back.

Our platform brings accounting and investment books of records together, streamlining workflows as teams only need to capture and reconcile data once to unearth new insights. Not only does it manage data across multiple views, an index with advanced algorithms assesses a level of confidence to underlying data. It also offers a visual heatmap overlay on reporting and analytics for more informed, faster decision making.

How do you intend to maintain the standards you have set?

Ledgex values relationships, so we spend a lot of time understanding our clients, as well as organizations and individuals that make up the family office community in general. Their input drives our technology development and working intimately in a market you know is an advantage.

Most platforms in the marketplace come at a big cost and with lots of features family offices will never use. So, we’ll continue our laser focus and rely on customer feedback and industry experience.

Further, we’re leveraging emerging technologies, as seen in our recent partnership with Alkymi. By integrating their data workflow into our solution, customers can automate data collection and management, lower costs and raise investing performance and analytics with AI and machine learning.

What do you hope will be the result of receiving this accolade?

We expect this will introduce us to new firms in the family wealth community, which will not only deliver financial gains, it’ll further fuel our development efforts via greater feedback.

Equally importantly, though, we look forward to more family offices seeing there’s a solution just for them and a path to the future.

Please give us a sense of the challenges and opportunities in the wealth management industry?

The investment world is nervous about a recession. To avoid the risk of investments like stocks, UHNW clients are being moved into safer waters like alternative and direct investing. It’s reported over 60% of family offices are now involved in direct investing. The problem is, it’s complex and family offices are don’t want to take on more than their staff can handle.

The key is harnessing purpose-built platforms that provide control over available data and free up valuable time spent on tasks like deal flow, exit strategy and due diligence.

• Accounting Winner

WINNER: Marsh McLennan Agency Private Client Services

WINNER: New Republic Partner

WINNER: Our Family Office Inc

WINNER: Pathstone

WINNER: PNC Private Bank Hawthorn

WINNER: Private Wealth Systems

WINNER: Pure Insurance

Mammoth’s Blazing Path Of Access, Opportunity And Integration

Why do you think your organization won this year?

Mammoth Technology is a cutting-edge technology and services company that revolutionizes the way fund managers, financial advisors and founders establish and service funds to enhance investor experience.

We believe the future of financial advice requires wealth managers, planners, and advisory teams to reach further, serve deeper and deliver next-level solutions –well beyond the public markets.

Heck Chief Legal Officer Mammoth

Mammoth brings together the best of alternative investing, technology, integration, compliance, legal and tax analysis into one platform for all fiduciaries. Our intuitive, integrated online platform unites fiduciaries funds, founders and investors through seamless communication. We are focused on delivering an ever-enhancing, modern alternative investing experience for fiduciaries and their clients alike. Instead of building the same old business model on the same old framework, Mammoth is blazing a path of access, opportunity, and integration.

What did your colleagues do to contribute to the success this year?

My team is composed of experienced investors, entrepreneurs, inventors, and advisors with diverse backgrounds, educational expertise and professional experiences. Having previously founded or led successful health science, technology, wealth management, and marketing companies, each of us know how to create value through precision, data and advanced technologies.

By combining our expertise with a client-first and innovation-focused approach, the Mammoth team is able to deliver customized solutions that create value and drive success for our clients.

How do you intend to maintain the standards you have set?

We’re a values first, organization. Our core values unify our team, focus our mission and help us to never take our eye off of the needs of all of our customers.

We Believe in When, Not If

We are committed to viewing the future through a lens of possibility.

We are Solvers

We look for solutions individually and as a community. We are committed to finding the best path to success.

We Run Through the Tape

We get the job done – whatever it may be. We are responsible for the outcome even if it is beyond our scope.

We Never Let Them Guess

We don’t wait for our clients or teammates to reach out to us. We believe that clarity is kindness.

We Model Confident Authenticity

We value our previous experiences and the wisdom we’ve gleaned already to show up boldly while staying ready to learn more.

We Believe Everybody Matters

We treat every person with respect and believe that maintaining healthy relationships is the point of everything we do.

We hire and fire based on alignment to these values, so everyone who joins our team innovates on our platform and services from this lens.

Our dedication to innovation, delivered through a values driven team is what has brought us to where we are today, and it is what will continue to propel us forward as we move into the second half of 2023 and beyond.

Erin

Exceptional insurance solutions for extraordinary clients.

MMA Private Client Services is proud to provide personal insurance solutions for some of the world’s leading families, family offices, and individuals who trust us to help them protect their assets, wealth, and lifestyles.

We understand how to safeguard what you are most passionate about –homes, cars, art, yachts and more – no matter how unique. Our global reach and resources allow us to find coverage when others can’t. And in the event of a loss, we’re on your side, helping to resolve the claim so you can go back to pursuing your dreams.

Learn more at mmapcs.com.

Creative Insurance Solutions For People With Complex Lives

Pete Walther President Marsh McLennan Agency Private Client Services

Winner

Insurance Brokerage Provider

For more than four decades, Marsh McLennan Agency Private Client Services (PCS) has been delivering tailored insurance solutions to protect what our clients cherish.

As part of Marsh McLennan, PCS offers global coverage through local resources. We excel at finding coverage in challenging situations and we are committed to resolving losses effectively and efficiently.

With more than $1.7 billion in premium managed through 1,200+ colleagues in 150+ US offices, families trust PCS for our world-class resources, thought leadership, innovative analytics, catastrophe modeling, and dynamic program design.

Why do you think your organization won this year?

While we have been dedicated to the family office segment for more than 40 years, we see ourselves as a start-up in an incredibly dynamic marketplace, one ripe for innovation with a fresh mindset and approach towards risk.

We are driven by an unrelenting curiosity and desire to do great things in this space – to deliver truly differentiated value to the many families we have the privilege to serve.

What did your colleagues do to contribute to the success this year?

Our business is built on the shoulders of great colleagues who act with clarity of purpose and conviction every day when serving our clients and each other. They have shown great agility in adapting to a challenging and dynamic market. We have always led with education and advocacy, taking great care to understand the client’s needs and tolerance for risk within the context of their lifestyle.

On top of that, our colleagues have incredible technical capabilities, expertise, the freedom to be creative, and the heart to advocate on the client’s behalf in the moments that matter.

How do you intend to maintain the standards you have set?

We intend to keep raising the bar. Our clients are some of the most successful people in the world; they live complex lives that require creative solutions. Working with them is a privilege because it encourages us to move aggressively beyond conventional thinking and historical frameworks.

We are investing heavily in expertise, technology, data, and insights to give ourselves and our clients every possible advantage. In fact, we have expanded our workforce by a third in the past two years and redesigned our entire organization to deliver maximum value to our clients.

Please give us a sense of where you think the wealth management industry is headed.

The wealth management industry is undergoing transformative changes, which compels financial advisors to seek new ways of delivering value to retain and grow their business.

We’ve seen more wealth advisors inclined to provide resources for holistic advice, and they are looking to partner strategically with firms that have highly regarded brands capable of delivering best-in-class risk-based advice, consistently and reliably at scale.

We were pioneers in the high-net-worth space starting 43 years ago and our purpose-built Wealth Advisory Solutions channel is a long-established, well-resourced, and digitally enabled offering in the industry.

•

Innovation And Next-Level Thinking Benefit Clients At New Republic Partners

New Republic Partners is an innovative investment management and wealth advisory firm offering clients the expertise, resources, and scale of a multi-billion-dollar family office. Clients benefit from access to elite wealth strategies and investment opportunities usually reserved for large institutional investors. The firm offers customized portfolios, bespoke asset-class-specific fund offerings, complex financial planning, and the expertise of an experienced investment management and wealth advisory team.

What differentiated your firm and made it stand out as the winning new entrant in the family office category?

The firm was founded by families for families – with an emphasis on alignment of interests and a common vision among the leadership team, founding families and clients. Clients invest alongside firm partners, large family offices and other clients while receiving a customized solution for their individual needs and goals. All clients, including the founding families and the leadership team, are fee paying clients. Every client has access to the same investments, on the same terms.

The founders included a group of experienced financial executives and several prominent family offices, all of whom saw firsthand how families and institutions are underserved by traditional investment solutions. The strategy of bringing together the families’ investment teams and decades-long relationships with some of the best investment managers globally created an

Winner

innovative multi-family office firm with a powerful combination of access, alignment and customization.

New Republic Partners allows clients to access the next level of investment management and wealth advisory services. Most firms have expertise in either investment management or wealth advisory; our objective is to excel in both and bring the best resources, expertise, and experience in each area to every client.

How did your colleagues contribute to the firm’s success this year?

Our team of professionals brings decades of experience in global asset management, wealth advisory, private and public market investing and portfolio management. This extensive experience brings a sourcing edge by offering investors access to top-tier managers and investment opportunities, some of which are closed to new investors. Our expertise in both investment and wealth management partnered with the scale and resources of our founding families creates a high-touch wealth advisory with the tailored approach of a family office.

Our team delivers the next level of investment management as well as exceptional wealth advisory services. We believe investors need both to be successful. This approach provides clients with institutional-quality asset allocation, unparalleled access to top-tier managers, fully customizable portfolios and a full suite of family office services.

Where is the wealth management industry headed, what challenges and opportunities are ahead, and how does New Republic Partners plan to address them?

We believe investors need a different approach. The traditional “60/40” portfolio is likely to fall short of investors’ expectations in the years to come. New Republic Partners was founded to help clients navigate this changing investment landscape by creating investment solutions that reflect the new reality.

New Republic Partners

• Multi Family Office (New Entrant)

L to R: Sam Bowles, Managing Director; Tom Hoops, CEO; Cort Haber (seated) Managing Director; Michael Phipps, Managing Director; David Routh (seated) Managing Director; Zelle Dunn, Managing Director

Our Family Office is Canada’s first truly integrated Shared Family Office™ where affluent families protect and grow their wealth while preserving their legacy for the future.

We provide customized investment management, tax and wealth advisory and financial oversight by developing a clear picture of your values and vision for the future.

www.ourfamilyoffice.ca

Client-Owned, Our Family Office Blends Investment, Planning, Expertise

Neil Nisker Co-Founder, Executive Chairman and CIO

Tim Cestnick

Co-Founder and CEO - FCPA, FCA, CPA (il), CFP, TEP Our Family Office Inc

What sets you apart from your peers this year and why?

We created Our Family Office not only to be different, but to make a difference. We have a different governance model; we are owned by many of the families we serve. The interests of our firm are very aligned with our clients. We were born out of equal parts, portfolio management, and advanced planning. Our expertise in both of these areas is incredibly significant, which has led to a much better seamless and integrated planning and capital management for clients. We focus on risk as much, if not more than returns. For example, last year in 2022, the classic 60/40 model was down some 16%. All of our clients were up. Approximately 70% of our portfolios are invested in assets other than stocks and bonds.

How have your colleagues contributed towards the success of your organization?

Successful businesses are not generally built on one or two people. The strong foundation of our business is our staff. They deserve this award, and they are the real reason that we have won. Our staff consists of highly knowledgeable, multi-disciplinary professionals who truly understand how to integrate the planning around various areas of our clients’ financial and personal lives. This is no easy task.

What are you going to do to stay on the front foot in a fast-growing but also challenging region such as this?

In terms of staying ahead in our market, we continue to demonstrate how differently we invest clients’ capital and can

show the difference this has made to risk-adjusted returns for our clients. We also continue to share leading-edge tax and estate ideas that are becoming even more important in a world of governance, deficit budget and debt levels, where taxes are due to increase.

Whom do you look to for inspiration and ideas?

Before we created Our Family Office Inc., we spent 2.5 years writing a business plan and interviewing over 40 multi-family offices in the US. We also looked to the most successful families in this country, and abroad, with whom we have relationships, to how they deal with investment, tax, estate and family governance and continuity issues. Finally, we have a big network of professionals with whom we collaborate to bring ideas to clients.

What do you hope will be the result of receiving this accolade?

Last year we won Best Multi Family Office in North America with assets under $2.5 billion. We hope that this new recognition of 'Best Outsourced CIO', a win in a different category, will open new doors for discussion with families and foundations.

How does it help your business in this region?

Canada is a country of significant geography, but a close-knit community in many ways. News of this award will demonstrate to Canadians that we are recognized beyond our borders, which will help in our business development efforts.

• Outsourced CIO

Winner

Private banks and wealth managers face unique KYC demands.

Clients can be higher risk. Due diligence challenges are extensive.

was built from the ground up to meet each of these challenges Our solutions include:

Adverse Media Screening

Source of Wealth Corroboration

Network Mapping & Relationship Risk

List Screening & Entity Resolution

ESG Risk Intelligence

Periodic Refresh

Perpetual KYC (Continuous Monitoring)

Robo Onboarding

Batch Remediation

Lead Generation and Target Profiling

smartKYC is built to provide a 360° view of your client. Intelligent automation providing a platform for private banks and wealth managers to empower their front-of-house teams to be an efficient and effective first-line of KYC defense and focus their compliance teams where it really matters.

www.smartkyc.com

smartKYC proudly sponsors this awards ceremony and we congratulate all the winners!

Focus & Experience

For more than 40 years, private clients, family offices, leading financial institutions, professional advisors, asset managers, and international businesses have turned to us for the provision of independent corporate, trust and fund administration services. Clients rely on our worldwide presence, local knowledge and our commitment to responsiveness, reliability, attention to detail and personal service.

Our U.S. team, located in Atlanta, Houston, Miami, New York and Sioux Falls, has built a reputation for technical excellence and delivering the highest quality of client service. Contact us to discover how our global reach, experienced professional personnel, tailored services and on-the-ground presence in the U.S. can make a difference to you and your clients. Contact: Peter Randazzo General Manager, South Dakota prandazzo@tridenttrust.com +1 605 679 4355

Ownership Structure Energizes Pathstone People To Deliver

Kelly Maregni President Pathstone

Winner

• Multi Family Office ($15 Billion AuM/AuA and Above)

Pathstone is an independently owned and operated wealth management firm serving multi-generational families with complex needs, single family offices, and foundations and endowments. Our comprehensive range of services and expertise go far beyond investment management. We employ an advocacy-focused model that empowers our clients to define and achieve their unique long-term goals and support their legacy.

Pathstone has more than $80 billion in total assets under advisement and administration, offices in 17 locations nationwide, and 350-plus team members, more than 180 of whom are shareholders of the firm.

Why do you think your organization won this year?

The past year was a very important one for Pathstone. We made several strategic acquisitions and technology investments to make Pathstone better, not just bigger, with a focus on innovation to meet the evolving needs of our clients.

We expanded both the breadth and depth of our in-house expertise and geographic presence, adding to our family office client solutions, bringing on expertise in serving tech and start-up clients and strengthening our senior leadership team. We added in-house trust services to further our commitment to generational advice by partnering with Willow Street, a Wyoming-based independent trust and fiduciary services firm.

Our investment in Advisor Partners significantly enhanced our in-house capabilities in tax-optimized direct indexing and automated rebalancing. Each decision reflects our focus on continuous improvement to deliver cutting edge services for our clients.

How do you intend to maintain the standards you have set?

Our leadership team built Pathstone on the belief that if our people are happy, our clients will be happy, and the business will do well. Our ownership structure and collaborative culture energize our people to deliver to a high standard.

Also, we know that in the RIA industry complacency can be the death knell for a firm. We’re always looking for ways to create efficiencies through technology so our advisors can devote more time to service our clients.

Explain what you had to overcome in getting to this level.

Coming out of the throes of the pandemic was certainly a challenge in 2022, but we maintained a focus on high-virtual-touch contact with our clients and we think we have emerged with stronger client relationships for it.

A longer-term challenge is nurturing a sustainable business model that will allow Pathstone to succeed as an independent RIA long after the founders and other current leaders have retired.

Our strategy has been to partner with outside capital providers to fund our growth while developing our internal leadership talent and leveraging the expertise we add through acquisition. We believe this formula has fueled our success.

Whom do you look to for inspiration and ideas?

With over 350 team members, we get a lot of great ideas in-house. Our investment team includes researchers who are the engine of both our day-to-day operations and our ideation for the future.

Also, our executive team is always looking around the industry to see what’s new and interesting.

Everyone’s “why” is different. And we want to hear all about yours. Because when it comes to navigating the complexities of family wealth and figuring out how to best protect and grow it, we understand that finding a bank that will work with you to develop a tailor-made plan is essential. That’s why we’re devoted to providing the expertise you need to achieve what you want.

We’re happy to help take care of the how. You just tell us, what’s your why? Let’s talk about your why at 888-947-3762 or scan below.

Support And Focus On The Long Term Plan In Uncertain Times

PNC Private Bank Hawthorn is a premier multi-family office for clients with significant assets. As part of The PNC Financial Services Group, Inc., PNC Private Bank Hawthorn leverages the extensive resources of one of the largest diversified financial services institutions in the United States to offer integrated, custom solutions that help ultra-high net worth individuals and their families preserve and grow assets and create meaningful legacies.

Why do you think your organization won this year?

Annamaria Vitelli Head of Hawthorn PNC Private Bank Hawthorn

Our national Wealth Strategy team is a differentiator for PNC Private Bank Hawthorn. We have a highly experienced, credentialed team of experts who work with our ultra-high net worth clients and families to take them through a deep discovery process into identifying and articulating their vision, values and goals.

We help them develop a plan to prepare all generations for the benefits, responsibilities and challenges of significant wealth.

Explain what you had to overcome in getting to this level.

I think our industry is still adapting to post-pandemic life as we navigate what “return to work” looks like and how to adjust to being back in the office. Add to that the current economic situation, and we are in a challenging environment right now. I’ve always believed that during times of uncertainty Wealth Strategists really thrive.

They can put clients at ease by reminding them of the long-term plan and showing them that they remain on track, even if there is a bit of a bump in the road. During these times of uncertainty, our team has stepped up for their colleagues and our clients, and I am very proud of them.

Whom do you look to for inspiration and ideas?

Our clients serve as a great source of inspiration and motivation for us. They share their goals, objectives and challenges, and listening to their stories and what they hope to achieve, allows us to better understand the services and solutions we need to provide them.

For example, the PNC Private Bank Hawthorn Institute for Family Success was born from the realization that our clients need guidance with their family dynamics and governance. As the needs of our clients evolve, we want to make sure we can meet them where they are.

Please give us a sense of where you think the wealth management industry is headed.

I believe that the future of wealth management will be providing clients with advice and other services that go beyond traditional investment and wealth management. While it remains important to offer core capabilities such as investments, as client priorities change, we will need to offer additional solutions.

Already we see our clients looking to have conversations about their philanthropic goals or seeking to make sure their children and grandchildren are prepared to inherit wealth. Our challenge and our opportunity is developing the resources our clients need to help them move into the future.

"As the needs of our clients evolve, we want to make sure we can meet them where they are."

A Reporting Platform With A Reputation For Data Accuracy

In the Fintech industry, there is no shortage of slick tools that slice and dice financial information in beautifully designed point-and-click reports.

Platforms are often chosen by customers for this very reason – the nice looking display with an intuitive interface. Yet, for decades, aggregator reporting tools have been delivering these attractive reports filled with errors. Errors from the very sources used every day by everyone in the industry.

Craig Pearson CEO Private Wealth Systems

In fact, these days bank feed errors approach 18% on a regular basis. Think about that for a moment. 18% of the nice looking pie charts, bar graphs, spreadsheets and summaries could be showing you very nicely-formatted incorrect information.

Since these errors make it through to the final reports, it’s up to the family office staff or the wealth owners to detect. Then, a series of requests goes back to the reporting platform vendor to correct the data. What kind of a process is this?

Why don’t reporting tools prevent this error from reaching your report?

Well, because creating a way to cross-check is very, very hard to do.

Consider the key ingredients. In order to find and correct these errors on their way to the reports and dashboards, you must:

1. Start with a platform that is designed from the outset to calculate performance correctly.

2. To do THAT, you need to build a new aggregation engine that solves the problems of other aggregators (e.g. calculating on trade date vs. settlement date).

3. Then, you need a reconciliation process to capture and correct the errors from bank feeds – again, which have an 18% error rate.

Since that is much harder than it looks, most platform vendors compensate by touting large reconciliation/operation teams of 50, 60, 70 people ready to help you at a moment’s notice.

Hint: That’s not reconciliation though, it’s a support staff that are there to fix the errors they should have prevented from sending you in the first place. The burden and cost has been shifted from the vendor to the family office – just changing the face of the problem and not actually fixing it!

If this resonates with you, then you’ll understand why Private Wealth Systems was created, and why it’s been consistently recognized as the leading reporting platform in the industry – with an unparalleled reputation for data accuracy.

Private Wealth Systems set out to create a truly independent multi-asset investment accounting engine to sit between ingesting custodian data and presenting it in an online reporting suite.

The result is the right use of technology to enable high data accuracy and true scaling, automatically identifying and correcting data errors before it gets to clients’ reporting.

The right platform will preserve wealth. The wrong platform could lead to decision making that will lead to the destruction of wealth. For 1000s of family offices around the world, Private Wealth Systems is the right platform.

Visit

PwC Helps Families Stay Compliant

Why do you think you won this year?

I believe our success this year stems from a variety of key factors: our dedication and consistency to building authentic relationships with our clients has allowed us to become the trusted advisors that family offices and high-net-worth individuals are looking for. We take the time to really listen to our clients and ask clarifying questions which enables us to address their needs and provide trusted insights across a variety of complex cross border issues – whether it’s pre-immigration planning, income and estate treaty analysis or restructuring entities and trusts.

Our vast global private wealth network of specialists across 155 jurisdictions enables us to act as a cross-border liaison as needed, and help manage the various complexities and country jurisdictions.

We go beyond helping families maintain compliance with their personal tax and wealth planning requirements – we also advise them on appropriate structuring and planning opportunities to help them achieve their goals. We can help families get the most out of their investments and realize value faster because we are super users of various technology platforms and we can build customized solutions for clients. Our commitment to expertise, personalized service, innovation, and specialized knowledge sets us apart from the competition.

What did your colleagues do to contribute to the success this year?

At PwC, our biggest asset is our people. We have a deep bench of talented professionals across tax, accounting and consulting specialties so the range of solutions we provide both in the US and globally can address almost any issue high-net-worth individuals and family offices can face – not just with their cross-border issues. Our clients experience the benefit of a seamless, multidisciplinary team approach which enables them to have peace of mind that they may not have with multiple advisors or vendors. Our PwC community of solvers comes together in

unexpected ways to connect families to growth and secure their legacy.

How do you intend to maintain the standards you have set?

To maintain our standards, we leverage 170 years of leadership, strategic thinking, and the latest technologies. However, our primary focus is investing in our people. We have tangible short-term and long-term goals to advance diversity, equity, and inclusion and hold us accountable.

The New Equation guides our conduct, aligning with the interests of clients, people, firm, and communities. These values underpin our governance, systems, and processes to drive quality, transparency, ethics, and accountability.

PwC is committed to digitally upskilling our workforce and plans to invest $1 billion in expanding and scaling AI capabilities as part of this effort. Our people-centric approach and ongoing investments secure our commitment to excellence.

Explain what you had to overcome in getting to this level.

We successfully navigated the challenges brought by the COVID-19 pandemic and the global economic issues that ensued. We quickly pivoted to remote collaboration, and we were successful in doing this by fostering effective teamwork, investing in technology, and enhancing the skills of our professionals. This allowed us to maintain strong client relationships and establish ourselves as trusted advisors.

We have continuously prioritized investments in our people and technology to remain up-to-date and responsive, enabling us to scale our operations, create efficiencies, and to help address more complex issues that come with international investments, real estate, crypto, among other assets, and the associated tax implications that come along with a growing portfolio.

Frank Graziano Private, Personal Financial Services Leader PwC US

Your life goals are our life’s work

We’re honoured to be named “Best Regional Private Bank” by the Family Wealth Report Awards 2023.

We help our clients accomplish more with our personal approach, in-depth knowledge and innovative technology. This award reflects our commitment to helping our clients prosper in an ever-changing world.

To learn more about our uncompromising client service, please visit rbcwm.com

of Royal Bank of Canada. Used under license. © Copyright 2023. All rights reserved. In the U.S., RBC Wealth Management is a division of RBC Capital Markets, LLC, Member NYSE/FINRA/SIPC. In Canada, RBC Wealth Management member companies include RBC Dominion Securities Inc.*, RBC Phillips, Hager & North Investment Counsel Inc., RBC Wealth Management Financial Services Inc., RBC Global Asset Management Inc., Royal Trust Corporation of Canada and The Royal Trust Company (collectively, the “Companies”).* Member-Canadian Investor Protection Fund. Each of the Companies and Royal Bank of Canada are separate corporate entities which are affiliated.

RBC Wealth Management Successfully Retaining Talented Employees And Clients

Kim Mason Senior Vice President and Head, RBC Private Banking Canada RBC Wealth Management

Winner

Regional Private Bank

Kim Mason is Senior Vice President and Head of RBC Private Banking Canada. She leads a team of private banking professionals who draw on the expertise of their RBC Wealth Management colleagues across the bank to deliver customized banking and credit solutions for high-net-worth (HNW) clients.

What did your colleagues do to contribute to the success this year?

Our success in the wealth management space is rooted in the breadth of expertise at RBC, and our team’s ability to work together, create solutions, and deliver a highly personalized experience for our HNW clients. The RBC Private Banking team works closely with wealth management colleagues across the bank, including Dominion Securities, PH&N Investment Counsel, Royal Trust, Family Office Services, Global Asset Management, Commercial Banking and Group Advantage, to name a few. We want to make sure we’re bringing the right experts to the table, whether our clients are looking for estate planning, business owner planning, commercial banking, complex credit solutions, or strategic investment advice.

How do you maintain the standards you have set?

Our offering is brought to life and experienced best through qualified, capable and tenured professionals. We have put a concerted effort on ensuring an inclusive environment where a path to a promising career is visible and within reach to enable retention of key talent. We’re focusing on growing our team’s capabilities and encouraging partnerships to flourish, all in the spirit of deepening our existing client relationships and building new ones. Many HNW clients are focused on estate and retirement planning.

Part of supporting them throughout that transition means forging relationships with the next generation of leaders within their families, and continuing to earn our role as trusted advisors. We’re also exploring new ways to structure credit, which is a priority for many of our clients.

Please give us a sense of where the wealth management industry is headed and what the challenges and opportunities are?

There are a number of forces that are changing the industry, and the way we interact with clients. These include regulatory changes, recession fears and rate sensitivity, a shift to digital, evolving expectations, new competitors, and competition for talent.

We’re strategically investing to ensure we can grow our business without compromise to the client and employee experience. This includes investments in our salesforce and digital capabilities to improve the client experience. Key to our success is our commitment to going above and beyond for our clients, and delivering plans that are grounded in solid understanding of their goals and opportunities.

What will be the result of receiving this accolade?

I hope that this honor from our peers – and from the community we serve – speaks to RBC Wealth Management’s ability to not only think boldly, but to back up our vision with action. But most of all, I hope this award will be a great source of pride for the thousands of dedicated RBC Wealth Management employees who care for our clients, and whose hard work, thoughtfulness, and commitment to excellence made this recognition possible.

•

Focused on Alpha and Outcomes

Rockefeller Asset Management serves institutions, financial professionals, and other institutionally-minded investors through equity, fixed income, and alternative solutions that seek outperformance driven by a disciplined investment process. As part of the Rockefeller ecosystem, we are well positioned to convene global networks to generate insights and outcomes not commonly found in the investment community. With over 30 years of intellectual capital from pioneering global investing and ESG leadership, and decades of constructive shareholder engagement, we are committed to continually building partnerships and expanding our platform. Our clients can benefit from a track record of innovation and a compelling level of service that puts them and their performance first.

Visit rockco.com/ram to learn more.

Services Addressing Climate Change Will Outperform The Broader Market Over Time

Jose Garza & Rolando Morillo Portfolio Managers Rockefeller Asset Management

Winner

ESG Investing (Product)

Why do you think your organization won this year?

The Rockefeller Climate Solutions strategy is approaching an 11-year history that reflects a deep commitment to long-term investing aligned with a consistent process in identifying solution-oriented business models that address climate adaptation and climate mitigation. This award is a testament to the deep expertise of our portfolio managers, equity analysts and shareholder engagement analysts working in collaboration to provide a holistic lens to company research at Rockefeller Asset Management. Our long-term performance has validated our belief that companies that provide equipment and services that address climate change should outperform the broader market over time.

What did your colleagues do to contribute to the success this year?

Our process and expertise in understanding the climate solution universe has provided an edge to identifying the companies that can benefit from the expected wave of green capex, supportive government policies and secular shifts that will be required to align with the principles and targets of the Paris Climate Accord. Our shareholder engagement team also adds an important and differentiated research perspective to understand material internal sustainable initiatives as well as the external impact that business models have on society and the environment.

Whom do you look to for inspiration and ideas?

We are the proud beneficiaries of the Rockefeller legacy in the sustainable investing space" which dates back to the 1970s.

Rockefeller Asset Management has developed a deep network of non-profit organizations that provide our research team with independent and objective insight into science, technology, policy and regulations. This network serves as a source of ideas and allows for intellectual curiosity to explore details to various sub-themes such as sustainable agriculture, circular economy, water scarcity, sea-level rise, climate change policy, energy security and the transition to a low carbon economy.

Since the inception of Climate Solutions, our partnership with The Ocean Foundation has been instrumental in understanding climate change science from an ocean-centric lens and developing our proprietary universe of climate solutions. In recent years, we have expanded our scientific network to include expertise from other non-profits and organizations such as Planet Tracker, World Resources Institute, Rockefeller Foundation, and New York University Center for Sustainable Business.

What do you hope will be the result of receiving this accolade?

We are excited to be recognized for our long-standing commitment to responsible investing and to our thematic investing expertise in climate solutions. We hope that this award will raise awareness of our differentiated approach to investing in companies linked to secular trends related to climate change should that we believe should be considered for any long-term equity portfolio allocation.

We believe that a thematic investing approach to climate solutions increasingly resonates with next generation investors that are seeking exposure to emerging opportunities that climate change related capital expenditures can unlock.

•

The firm was founded in New York in 2002 by Ronald Varney, previously Senior Vice President of Trusts and Estates at Sotheby’s, and is active throughout the country and increasingly abroad.

Clients are primarily UHNW families and private collectors, referred almost exclusively by leading family offices, law firms, philanthropic advisors, accountants and other advisors to art collectors and their families. www.ronaldvarney.com contact: zoe@ronaldvarney.com

Annie Morris (B. 1978), Stack 8, Turquoise, executed in 2020. Sold privately on behalf of an American Collector.

Navigating The Art Market With Ronald Varney

Ronald Varney Principal

Ronald Varney Fine Art Advisors

Why do you think your organization won this year?

We have always believed in the value of thought leadership in setting our firm apart from our competitors, and so this past year we intensified our efforts in this regard.

In addition to producing many illustrated guides about art collecting and the art market for family offices and their clients, we also produced articles, blogs and essays on a host of art-related issues for serious as well as novice collectors. Increasingly, our business is driven by thought content.

What did your colleagues do to contribute to the success this year?

They have been especially productive in widening our circle of influence with financial and legal advisors as well as clients and prospects of our firm throughout the United States.

Through Zoom calls, presentations, speeches and one-on-one meetings they have listened carefully to the needs of this broad, diverse constituency and formulated solutions to a host of art-related challenges and needs.

How do you intend to maintain the standards you have set?

Every year it seems that the art market, truly a global behemoth, becomes ever more difficult to navigate. The auction houses have become like merchandise marts catering mainly to the ultra-affluent, and thus making it more intimidating and confusing for families to participate with confidence and poise.

We thus will be intensifying our efforts in the coming year in helping these families to navigate the art market to greatest financial advantage – in the most stress-free manner possible.

Explain what you had to overcome in getting to this level.

The business model that we had pre-pandemic, since our firm’s founding in 2002, had to be changed and fine-tuned amidst so many mystifying changes wrought by the pandemic.

Creative and productive networking became essential. We forged many new alliances with like-minded firms in areas such as philanthropy and lifestyle management, and we held regular Zoom calls to broaden our mutual networks to greatest effect. As travel lessened, remotely-conducted business development suddenly became the norm.

Please give us a sense of where you think the wealth management industry is headed.

With so much consolidation in this industry, with so many competing voices and perspectives, we feel that families more than ever will need a comprehensive plan from their financial advisors on meeting many complex and daunting needs.

For example, the art market was not something most family offices cared about a few years ago. It just wasn’t within their immediate range of concerns in serving their clients. But now it is. They can’t afford to ignore it, not least because the value of art has continued to explode in every direction.

And so, from our own little niche within the vast wealth management industry, we feel the time has surely arrived for this industry to pursue a more nuanced approach to serving the diverse lifestyle needs of families, and with bespoke expertise –which would include art collecting.

• Art & Private Collections

Winner

How can we help you make an impact? www.sonencapital.com

Award Demonstrates Competitive Returns With Lasting ESG Impact

Why do you think your organization won this year?

We were honored to have won the Impact Investing Advisory category, the list of finalists was impressive, and we congratulate them on their showing. We believe Sonen Capital stands out as a pioneer in impact investing. We have a long history of collaboration with clients who are also contributors to the field, with stated impact goals and outcomes. As an organization, we strive to be a trusted partner to our clients, share our innovations and thought leadership with the field, and of course, to deliver a track record of success; but all of that is just a starting point. When you combine those intentions and actions with a collegial team that is all in on the mission, we end up with a culture of excellence, the sum of which I believe sets us apart for the award this year.

What do you hope will be the result of this accolade?

It’s important to take a moment and honor the recognition of one’s work, and I hope our team feels that their focus, expertise, and contributions have earned this award. Certainly, the accolade validates our efforts in the field and bolsters credibility among our clients, partners and stakeholders. As a business, additional visibility could also help us reach a broader audience to further catalyze capital towards positive outcomes.

As a thought leader and contributor to the sustainable investing ecosystem, we hope that these awards can be another demonstrable reason that investing to generate competitive returns and lasting social and environmental impact are compatible and mutually reinforcing objectives.

Please give us a sense of where the wealth management industry is headed.

Over the past decade, we’ve seen a tremendous growth and reconfiguration of the sustainable investment management

industry. Asset owners are increasingly recognizing the importance of aligning their investments with their values. Younger generations, in particular millennials and Gen Z, are driving demand for sustainable products and services, and issues of sustainability are rapidly becoming a mainstream expectation. We expect that sustainable investing will also become mainstream and a much more common demand from this generation of asset owners and investors. Traditional investment managers and other financial institutions have increasingly been incorporating sustainable factors into their investments and launching successful impact funds. Aside from the ever-present potential of misrepresenting actual, real impact, the ongoing challenge of impact measurement remains.

We are seeing gradual consolidation around several frameworks and standards to measure and report impact, as well as the creation of tools to capture and report impact data. Standardization is gaining momentum, but measurement is more than agreement on key performance indicators – we need to advance data collection and third party validation of impact results. We believe that improved data, alongside such validation, will strengthen the momentum in this industry and draw more and more capital to investments that can truly create positive and durable impact.

Sonen Capital

SS&C Black Diamond: Empowering Women & Delivering Compliance Excellence

Jen Becher Vice President, Client Experience SS&C Black Diamond Wealth Platform

• Women in Wealth Technology (Individual)

SS&C’s Black Diamond® Wealth Platform is an offering of SS&C Advent, a business unit of SS&C Technologies. Family offices, wealth managers, RIAs, and broker-dealers leverage Black Diamond to streamline operations, gain business insights, and deliver a differentiated client experience.

What’s your reaction to winning the Family Wealth Report 'Women in Wealth Technology' Award this year?

I think this award says two important things about SS&C’s Black Diamond platform. The first is the terrific opportunities for women to rise to leadership positions within the team. I have always known I had a voice at the table since my earliest days with Black Diamond, and I’m not the only one.

Second, I think this award speaks to the quality of the client experience for Black Diamond users. It’s one thing to deliver award-winning technology, which we do, but then we surround that offering with a dedicated team that pulls out all the stops to ensure our clients get the most value from our platform. That’s a big differentiator and I am proud to represent that aspect of our business model.

Black Diamond was also recognized as the winner of the 'Compliance' category. Why do you think your organization won this year?

Compliance has become extremely complex and a strain on resources for family offices and wealth managers. We are fortunate that, as part of the SS&C family, we can offer our clients a seamless integration with SS&C’s Risk & Compliance Intelligence

Platform (RCI). This automated solution leverages Black Diamond data to strengthen compliance oversight. The combination of Black Diamond and RCI enables firms to demonstrate to the SEC and FINRA that they have effective supervisory controls, dramatically reducing their compliance risks and headaches.

What did your colleagues do to contribute to the success this year?

Everyone on the Client Experience team is really good at listening to our clients and understanding what they care about. The team can then communicate feedback internally so our developers can work on enhancements or integrations that genuinely answer client needs. That type of circular feedback loop is ingrained in the Black Diamond culture. The RCI integration is an excellent example of the kind of innovation that comes from those insights.

What do you hope will be the result of receiving these accolades?

These awards remind our current clients that they are in good hands, and for firms looking to upgrade their core operational platform, this recognition showcases that Black Diamond is a solid and complete enterprise solution backed by a team of people you’ll enjoy working with.

Finally, as a woman, I’m honored to be recognized as an industry leader, and I’m thankful to work for a company that values the contributions of women in leadership positions. I encourage women to seek careers in the wealth management industry, and I hope this recognition encourages interest in pursuing careers at SS&C.

• Compliance

Winner

Redefining The Digital Experience

Dan Gregerson Chairman and CEO Summitas, LLC

Why do you think your organization won this year?

On the product side, our center of gravity has always been security, privacy, and data integrity. We also have a human side, where we focus on helping customers achieve their goals and measure their success.

With a background steeped in building software companies and competing through innovation, our marketing budget is tiny. We know that action speaks louder than words for the individuals we serve.

What did your colleagues do to contribute to the success this year?

People are everything. Our team delivers every day. Software is a perishable asset because the systems and protocols around it are constantly changing. Our engineers enhance products in the context of evolving technologies and infrastructure. Our Customer Success organization is our customers' voice and vote, and sales can only occur with dedicated relationship builders and solution specialists.

Marketing that conveys the truth about the products and services requires keen sensibilities to avoid pretension. Money is energy that needs to flow with minimal turbulence and misdirection. Our legal team needs to craft plain language agreements that anyone can understand. These skills depend on great people with a shared vision to innovate and a commitment to work toward common goals.

How do you intend to maintain the standards you have set?

Businesses are living organisms with cultures and capabilities that grow and change as they scale. We may be phase-shifted by

disappointment and success, but we always return to our chief purpose – service. We plan to continue helping people who have invested in us achieve their aims. As long as we keep that in mind, we will thrive.

Explain what you had to overcome in getting to this level, such as the aftermath of the pandemic and the economic situation.

We adapted. The pandemic led to turns in human behavior and increased the demand for digital services while amplifying cybersecurity concerns. We were challenged but also benefited from those. Remote work taught us to be better communicators and note the minor accomplishments that move everyone forward.

What will be the result of receiving this accolade?

We aim to reach more people who want to redefine the digital client experience. We'd like them to know that connecting to external sources, in the same way that data aggregators did for financial accounts, can deliver a holistic view of their digital lives and help them organize, protect, and share that information while improving communication and collaboration.

Please give us a sense of where you think the wealth management industry is headed and what the challenges and opportunities are?

The wealth management industry is moving to a more digital, personalized, and client-centric approach, driven by advancements in AI, big data, and fintech. Challenges include data security, regulatory compliance, and managing digital transformation.

The focus will be on holistic wealth management, where “wealth” means integrating financial planning, health, lifestyle, family, philanthropy, and sustainability.

• Customer Facing Digital Platform

Winner

You

WINNER: PwC US

WINNER: Rockefeller Asset Management

WINNER: RBC Wealth Management

WINNER: SS&C Black Diamond Wealth Platform

WINNER: SS&C Black Diamond Wealth Platform - Jen Becher

WINNER: Summitas

WINNER: TAG Associates

Associates is an independent, privately owned wealth management firm offering investment management and family office services to individuals, families, endowments and foundations with substantial assets.

TAG Associates’ Diligence: 360 ° View Of Each Investment

What did your colleagues do to contribute to the success this year?

Our colleagues were critical to our success. TAG advisors construct all of our client portfolios and TAG analysts perform all investment due diligence in-house. Our research team conducted more than 700 manager meetings in 2022 across all asset classes. We focus on hedge funds, private equity, co-investments, separate accounts, mutual funds and ETFs spanning North America, Europe, and Asia.

The diverse backgrounds of the diligence team members give us the ability to evaluate various potential issues ranging from counterparty risk to liquidity issues. Each research team member is responsible for investment and operational diligence, allowing a 360-degree view of each investment.

Jonathan Bergman President

David Basner Chief Executive Officer TAG Associates

The diligence team has been together for more than 10 years, allowing for a consistent flow of accumulated knowledge on investments. Our Investment Committee meets biweekly to analyze market conditions, evaluate funds on the platform and new potential additions. The Committee, comprised of seven senior professionals, then debates and votes on the proposed investment.

It is an effort that relies on strong teamwork, so our success was a collective achievement.

How do you intend to maintain the standards you have set?

TAG was founded almost 40 years ago with the goal of helping ultra-high net worth families manage their assets and their personal financial lives. Our core principles, including true independence and objectivity, have not changed over that period of time. We are focused on maintaining and growing our clients’ wealth for generations.

Explain what you had to overcome in getting to this level.

As the pandemic began to evolve into the difficult economic environment of 2022, we set about planning and positioning our client portfolios so they would be less exposed to the unprecedented volatility in stocks and bonds.

We allocated a large portion of portfolios to Absolute Return strategies, which proved beneficial, especially in the face of stock and bond prices moving downward concurrently. This helped stabilize portfolios during an extremely turbulent market.

Whom do you look to for inspiration and ideas?

Our clients provide all the inspiration we need. Knowing their stories, their families, how hard they’ve worked, their generosity, and helping them achieve their financial goals is what drives us every day.

As for our investment ideas, we utilize proprietary screening for our active manager research and have a robust sourcing funnel for fund managers. Managers are identified through a variety of sources, such as database screens, network contacts, industry publications and conferences, current managers, and client sourced managers.

TAG maintains an active dialogue with prime brokers and covers most industry events. TAG investment professionals make annual trips to Europe and Asia and travel domestically each quarter to meet with managers.

Generally, we prefer smaller managers, who we find to be nimbler and better aligned. We review the spectrum of investment opportunities, from the smallest niche strategies to the large global macro funds, and everything in between.

LEARN. GROW. LEAD.

Tamarind Learning puts a fresh and modern twist on wealth education with courses focused on trusts, taxes, investing, and finance. Including real-life examples, case studies, and bespoke resources, our approach improves learner

recall and retention for the next generation of wealth owners. Raise the bar and empower your client through an on-demand virtual environment that fosters learning on their own—asynchronously—or with their peers—in a cohort.

™

For more information: info@tamarindlearning.com | tamarindlearning.com

Empowering families to build wealth knowledge and skills to follow their dreams.

Kirby Rosplock Highlights The Great Wealth Transfer

Why do you think your organization won this year?

For nearly a decade, we have been working with a broad range of family offices, from de novo to complex, multi-generational organizations. We fill a very specific niche to support both the management and leadership of a family office while also educating and advising family owners on the direction of their family office.

Helping bring transparency, awareness and confidence to owners and their management is why we are relevant and in demand.

How do you intend to maintain the standards you have set?

We are constantly looking at ways to improve, grow, and learn alongside the family offices whom we serve. To do this, we also have an implicit standard, like doctors, to the Hippocratic Oath to do no harm and take on projects where we help clients excel.

Whom do you look to for inspiration and ideas?

We are inspired by the extraordinary families and family offices whom we serve. The family office space is evolving, adapting, and forcing families to keep pace. We embrace breakthrough technologies, new opportunities for improving efficiency, innovative learning and utilizing fresh, modern approaches.

offices by providing greater confidence and competence.

What do you hope will be the result of receiving this accolade?

We hope to share this honor with our clients, our peers, and to continue to push the boundaries of management consulting. We hope this accolade will help us forge new collaborative working relationships with peer firms to scale our education with family offices.

Tamarind Learning, our education platform, is particularly well positioned to be a resource for the ongoing education of family and the family office advisor.

Please give us a sense of where you think the wealth management industry is headed and what the challenges and opportunities are?

Tamarind believes the greatest challenge facing the industry is precisely its greatest opportunity. The “Great Wealth Transfer” event is here; Generation X and millennial households will inherit the lion’s share over the next 25 years1. Approximately 73 million baby boomers will pass on roughly $78.3 trillion. Many have ascribed to a “giving while living” mentality, thanks to advantageous gifting opportunities as part of a broader U.S. tax planning strategy.

The wealth management industry has the opportunity to increase advisory and educational support for families, family offices and beneficiaries as most of this wealth (80+%) will be passed on in trust.

The key is for advisors to prepare families holistically for this transfer and recognize the risk to families who are underprepared; Tamarind is a partner and resource to help guide this journey.

Tamarind Learning, the sister company to Tamarind Partners, is an excellent example of how innovative education can elevate families and their family

1 According to Cerulli Associates, 2023 as cited in “The Greatest Wealth Transfer in History Is Here, With Familiar (Rich) Winners” by Talmon Joseph Smith, Karl Russell, New York Times, 2023.

"We embrace breakthrough technologies, new opportunities for improving efficiency, innovative learning and utilizing fresh, modern approaches."

Kirby Rosplock Founder and Principal Tamarind Partners

• Family Office Management Consultancy

Tapestry Helps Clients Realize Return On Their Enjoyment Capital

Why do you think your organization won this year?

Traditionally, when reporting on wealth performance, only financial data is tracked, measured, and advised on. We think Tapestry was recognized for its innovative approach to broadening the focus of traditional wealth management – for both the families and advisors who serve them – to deliver a total wealth view. As a result, clients and their advisors can successfully navigate the challenges and risks posed by a client’s lifestyle property assets and help them realize the best return on their invested Enjoyment Capital™.

Developed over years and based on our intimate experience working closely with many of the world’s wealthiest families, our proprietary process assesses and maps a visual representation of our clients’ lives’ organizational geometry and operational ecosystem (their extended family, properties, staff, vendors, and management processes). Laid out in detail, clients see, often for the first time, the depth and complexity of their personal world and the gaps between their current reality and desired goals and outcomes. We call them “Epiphany moments” and they are impactful. The assessments serve as a benchmark and guide for measuring the experiential dimension of wealth. They surface risk, lifestyle management opportunities, necessary staff realignments and catalyze fresh strategies for preserving and growing wealth and personal delight within a client's property asset portfolio.

What did your colleagues do to contribute to the success this year?

Our client engagement directors each have experience serving UHNW individuals and families or their family offices and are the cornerstone of our unique value proposition and success. They offer clients expertise informed by empathy, authenticity, a keen intelligence, and an objective, attuned ear committed to listening before advising. We were also fortunate to collaborate with Botoff Consulting this past year on

their inaugural “Estate and Household Staff Compensation Report”, which was undertaken on behalf of Morgan Stanley. We are excited to offer this depth of compensation data and related insights to our clients.

Explain what you have had to overcome in getting to this level.

On aggregate, the wealth invested in personal property, be it real estate, transportation assets, or collectibles, often comprises a significant percentage of a client’s wealth portfolio, as well as their anxiety. Knowing that tangible assets represent the highly personal “spend” side of families’ lives, it’s understandable that wealth managers and family office executives might prefer to focus on their client's or Principal’s investable liquid assets. Nonetheless, our client service goals mirror those of our colleagues: conserving wealth, minimizing risk, and optimizing return. Still, our biggest challenge in 13 years has been to be recognized as filling a missing chair at the UHNW advisory table; one that speaks objectively to the demands of holding, managing, and enjoying lifestyle assets and being accepted as a valued partner in the holistic, comprehensive management of wealth. This perspective has changed as word of mouth among our clients has grown, and the lines between their business, financial and personal lives are increasingly interconnected and blurred.

What will be the result of receiving this accolade?

We are deeply gratified to see our approach to redefining the boundaries of wealth management consulting recognized by the Family Wealth Report for the second time. We hope it will open opportunities for us to collaborate with others in the wealth advisory community who share the desire to better understand, appreciate, and serve wealth through a wider lens. Ultimately, our thinking goes to a desire for UHNW clients to be increasingly better served by deepening our collective understanding of their personal lifestyle needs and expectations.

Judy Boerner-Rule President Tapestry Associates LLC

• Property & Household

Winner

Servant Leadership At The Family Office At Synovus

The Family Office at Synovus is an award-winning leader in the family office industry. As a team of trusted advisors and strategic partners to multi-generational families, we understand what it takes to balance the complexities that come when you blend family, wealth and business. Our purpose is to empower enterprising families to thrive. Together.

The Family Office fosters a culture of excellence, collaboration, transparency, inclusiveness and life-long learning. Combined with our experience and depth of knowledge, we deliver an array of custom, integrated solutions that are personalized for each client family, including investment management, wealth-transfer and tax planning strategies, family enterprise management and fiduciary services. Currently, The Family Office team of 47 serves more than 88 clients with approximately $10 billion in assets under administration.

Why do you think your organization won this year?

Katherine Dunlevie President and CEO

• Multi-Family Office (Client Initiative)

• Alternative Asset Manager

• Outstanding (COO) Chief Operating Officer

• Multi-Family Office ($5 Billion to $15 Billion AuM/AuA) - Highly Commended

The Family Office at Synovus has roots as a single-family office. Established over 75 years ago, The Family Office began out of a need to help one family understand the intricacies of passing down family values and wealth to generations to come. Our firm's focus on developing human capital and empowering families to thrive has set us apart from our start. We know that a family's success is measured well beyond any economic impact of a portfolio, and that understanding is what drives our unique client experience and service model.

What

did your colleagues

do to contribute to the success this year?

Every team member in The Family Office at Synovus lives out the concept of servant leadership. If you walk our halls and ask anyone on our team, they will tell you that we live to serve. It's why we bookended our values with service and leadership. At the core of those values is excellence. It's who we are and what we stand for. Our team excels in each client interaction and in each task they perform. Winning these awards is a direct result of their unwavering dedication to service and excellence.

Please give us a sense of where you think the wealth

management industry is headed.

We believe the wealth management industry is evolving rapidly in several tangible aspects. First, there’s been an explosion of wealth over the last decade, leading to the multi-family office industry experiencing tremendous inflows of capital. Additionally, families are becoming more complex, and their needs are evolving rapidly. There is more focus now than ever before on a family’s human capital, in addition to their financial capital. As a result, client families are seeking enhanced services, including next-generation education and engagement, facilitation of family meetings and communication, and strategic philanthropy. All these changes require a new approach to serving families that takes into account a family’s overall well-being, not just their financial well-being. Ultimately, this new era of family wealth is forcing leading providers to adapt business models, advisor development, scope of services, and team structures.

The Family Office at Synovus

Creating A Lasting Legacy With The Schmidt Investment Group

Marvin J. Schmidt Founder and Principal The Schmidt Investment Group

Why do you think your organization won this year?

At The Schmidt Investment Group, our purpose goes beyond simply managing wealth. We are dedicated to simplifying the lives of our clients and enabling families of affluence to thrive. With exceptional care and a white glove service, we provide access to a wide range of integrated family office services. As we navigate life alongside our clients, we offer counsel, guidance, and concrete solutions to their most pressing issues. What sets us apart is our commitment to continuous growth and innovation. We constantly evolve our services, and the addition of our international foundation, Expand Hope, is a testament to our dedication to making a difference.

We direct 100% of our investment management revenue for the initial 18 months of each new client relationship to Expand Hope and these funds are used to build schools in areas with limited or no access to education. When a school is built, client families are invited to join our Global Impact Trip, where they can witness first-hand the life changing transformation they are making happen. Through this program, our clients have the power to impact the lives of thousands of children worldwide, creating a lasting legacy and I believe it is these aspects of Expand Hope that stood out for the judges among other client initiatives.

What did your colleagues do to contribute to the success this year?

Simplifying the wealth and lives of affluent families is not a one-person job. We have a large in-house team of experts, a high professional to client ratio and an extensive network of strategic partners. I am a firm believer that the quality of your life is based on the quality of your relationships and our team has wonderful relationships with our clients.

When you surround yourself with passionate performers embedded in a culture of excellence, great things abound, and this success belongs to every member of The Schmidt Investment Group so congratulations team!

What will be the result of receiving this accolade?

We are deeply humbled by this prestigious recognition, and it serves as a constant reminder of the high standards we uphold. Our aim is to redefine the landscape of the family office industry, offering an experience that is unlike anything seen before. Receiving recognition for our social mission also allows more families to learn that they can support social progress simply by who they choose to do business with!

It would be great if this recognition encouraged other businesses to feel empowered to commit to positive societal impact in a dedicated way. Together, we have the power to shape a future where businesses not only thrive but also become catalysts for positive change in the lives of our clients and those who are most vulnerable. This recognition fuels our resolve to forge ahead on this journey and make a lasting difference in the lives we touch.

Never Explore Alone

Harness the power of machine learning and artificial intelligence

TOGGLE AI analyses billions of data points to identify interesting patterns and actionable insights

www.toggle.ai

Generative AI - Galvanizing Wealth Management Services

Jan Szilagyi CEO and Co-Founder

TOGGLE AI

Why do you think your organization won this year?

Since its inception, TOGGLE AI has embraced cutting-edge technology. We believe the award recognizes the progress we made to make it easy for wealth managers to use bleeding-edge AI tech for everyday use cases, like supporting a conversation with a customer!

What did your colleagues do to contribute to the success this year?

We have a fantastic team of technologists who absolutely love AI and fintech – this is what makes our product so great. Our team works with passion to solve universal use cases for asset managers, bringing the most exciting AI developments into their everyday workflow.

How do you intend to maintain the standards you have set?

We plan to surpass the standards we have set: we are witnessing the dawn of the golden age of AI, and this is just the beginning.

We are at the technological frontier, and work every day with our customers to solve practical applications with the latest developments in AI.

Explain what you had to overcome in getting to this level, such as the aftermath of the pandemic and the economic situation.

The pandemic and its economic aftermath presented challenges and opportunities alike. Our technological advantage helped gather interest from customers and investors alike, and the trust we built with both groups helped us succeed in spite of a volatile market environment.

Whom do you look to for inspiration and ideas?

I started my career at Duquesne and it was actually Stan (Stanley Freeman Druckenmiller) who encouraged us to spin out TOGGLE AI as its own company. Stan is an industry legend who made history in the markets and has been an avid supporter of TOGGLE from day one.

What do you hope will be the result of receiving this accolade?

AI is revolutionizing the way financial advisors serve their customers, and we hope to continue helping the largest wealth managers in the world ride this wave of new technology.

Please give us a sense of where you think the wealth management industry is headed and what the challenges and opportunities are?

The wealth management industry is headed towards greater personalization and customization of services, with a focus on providing tailored solutions to meet the unique needs of individual clients. The key opportunity is providing high-quality AI services even to smaller customers. On the flip side, AI will unavoidably carry increased regulatory screening - but wealth and asset managers know how to do business in a regulated environment. This is a galvanizing moment for the industry that will result in many more customers receiving even better wealth management services.

• Fintech Start-Up

Winner

Analytics For Institutional Investors

Venn by Two Sigma helps investors of all sizes embrace a modern, quantitative, and intuitive approach to multi-asset portfolio risk management and investment decision making. Venn combines Two Sigma’s expertise in technology and investment analysis with a modern platform for data-driven portfolio decisions.

Venn’s global clients include investment offices of Single and Multi-Family offices, Pensions, Endowments, Foundations, Wealth Managers, Asset Managers, and Investment Consultants. These investment professionals use Venn to drive:

Investment Evaluation & Comparisons

Manager Due Diligence & Monitoring

Stress Testing

Portfolio Construction & Optimization

Factor-based Risk Analysis

Reporting & Data Visualization

vennsales@twosigma.com

venn.twosigma.com

Empowering Investment Offices with Advanced Analytics

Della Torre CEO

Why do you think your organization won this year?

Venn is Two Sigma’s portfolio analytics platform used by asset owners, asset managers and advisors. We believe that Venn was recognized for the ways in which we apply Two Sigma's expertise in research, data science, and technology to modernize the analytics experience for institutional investors.

Our focus is on helping our clients embrace a quantitative approach to multi-asset portfolio risk and investment decision-making.

We are honored to receive this prestigious award, which validates our capacity to provide wealth teams with an institutional-grade solution that enhances investment due diligence and portfolio management.

and portfolio construction. We listen to the needs of our clients and often incorporate their feedback into future product enhancements.

Our Client Solutions and Strategy team is at the forefront of partnering with our clients, where many hold a CFA and/or are prior practitioners. This deep understanding of our clients’ needs is critical to our current and future success.

How do you intend to maintain the standards you have set?

On top of maintaining our academic rigor and engineering excellence, we have always aimed to build partnerships with our clients and will continue to do so in the future.

Our team of Solutions Specialists work hand in hand with our clients to help them better understand Venn outputs and optimize their workflows on the platform.

Explain what you had to overcome in getting to this level, such as the aftermath of the pandemic and the economic situation.

What did your colleagues do to contribute to the success this year?

The Venn team actively works with our clients to help perform analysis to inform manager due diligence, investment evaluation,

Two Sigma consistently heard from clients that existing risk tools failed to address the unique needs of allocators and managers of multi-asset portfolios.

Venn was developed in-house and created to provide greater insight into the underlying risks that inform clients’ asset allocation and outside manager evaluation decisions.

"We are honored to receive this prestigious award, which validates our capacity to provide wealth teams with an institutional-grade solution that enhances investment due diligence and portfolio management."

Marco

Venn by Two Sigma

• Portfolio Management

Winner

Creating An Equitable And Sustainable World Through Capital Markets

Stephanie Cohn Rupp CEO Veris Wealth Partners

Founded in 2007, Veris Wealth Partners is an independent, women-led firm managing over $2 billion AuM as of October 31st, 2022. Veris is distinct for its 100 percent focus on impact and ESG investing. The firm helps high-net worth individuals, families, foundations, and endowments align their portfolios with their values and mission.

Why do you think your organization won this year?

For the ESG Investing category, the judges were looking for evidence that the winning firm is making a genuine, meaningful, and measurable difference by investing in solutions seeking Environmental, Social, and good Governance outcomes. We believe we were recognized both for our work and our authenticity in ESG investing and shareholder engagement.

We have remained focused on ESG since our firm was founded in 2007. The Veris investment approach is rooted in the idea that investing in companies that are committed to sustainability and ESG principles can deliver competitive market performance while mitigating risk for investors. We allocate client assets to investments focusing on four impact themes: Racial & Gender Equity, Community Wealth Building, Climate Solutions, and Regenerative Agriculture.

What did your colleagues do to contribute to the success this year?

Our wealth management teams seek to build thematic portfolios tailored to our clients’ financial and impact goals. Our research department seeks to measure and reports on the real-world impact

of these investments and they have devised a proprietary approach to due diligence which includes diversity, equity, inclusion and belonging (DEIB) considerations at every level of our manager research. We believe Veris has one of the largest community lending platforms in the US, enabling our clients to invest in entrepreneurs in under-resourced communities. Our firm has also seeded many impact funds in the industry.

On the operational side, Veris works to match our corporate action with our themes. We are a firm that is committed to net zero and DEI, and we do significant work in policy advocacy.

How do you intend to maintain the standards you have set?

Our core values are the guiding principles we operate by. Veris has made a strong commitment to DEIB within our firm, and we have engaged CommonHealth Action to help us design and implement a more equitable plan for leadership development and a strategic plan centered on equity. We believe that diversifying who sits at the decision-making table is key to achieving our DEIB goals.

What do you hope will be the result of receiving this accolade?

We hope that more investors will begin to share our vision and mission to create an equitable, just, and sustainable world through capital markets. We believe investors can have an impact across all asset classes and strategies through ESG integrated investing, shareholder advocacy, and thematic impact investing.

We believe the larger the number of values-driven investors, the greater the positive impact we can achieve together.

WE IS THE FAMILY OFFICE COMPANY

WE is an independent family office firm serving families as an outsourced family office, as an extension of an existing single family office, or by managing special projects and mandates for families or family offices as needed.

WE Family Offices’ Wealth Enterprise Solution

WE Family Offices

WE Family Offices is a family office company of 53 team members, serving ultra-high-net-worth clients and single-family offices. In our work with families, who are often institutional in size, we focus on putting the systems and best practices in place to help the family manage their wealth like a well-run company. When the family’s wealth will often outlive the family members themselves, governance and decision-making frameworks for investment advisory, wealth planning, tax planning and other related factors are at the core of successfully transferring wealth from one generation to the next.

Our unique approach of empowering each client family in the management of their family Wealth Enterprise® has resonated with families seeking a long-term, multi-generational solution for their wealth management.

By helping them harness the talents and skills that created the wealth in the first place, we help them create wealth enterprises through which the family can actively participate in the decisions and activity surrounding their wealth. The company now advises on approximately $13.4 billion and reports on an additional $1.3 billion for a total of assets under advisement of $14.6 billion.

Why do you think your organization won this year?

This past year was particularly challenging with market volatility and uncertainty. As public equity markets experienced dramatic devaluation, our investment team leaned into private markets more than ever before and worked to keep our clients and colleagues up-to-date and informed of these unique market opportunities that could help to mitigate volatility.

• Multi-Family Office ($5 Billion to $15 Billion AuM/AuA)

In addition, our company increased the amount of content we produced to provide insight and information into the constantly changing financial markets for the families with whom we work. Giving our advisors the tools and insights they needed to properly communicate with clients has helped to strengthen existing relationships in addition to leading to new opportunities.

How do you intend to maintain the standards you have set?

Our work is highly focused on engaging the next generation of a family early-on, with emphasis on more than technical planning. We take a specialized approach focused on communication, family governance, decision-making frameworks and family dynamics.

Our family office company is built to serve across generations, thus allowing us to strengthen the relationship over time. As we grow as a firm, our work with clients becomes even more robust and laser-focused, as we continually strive to provide them with the tools and infrastructure they need to make crucial decisions about their family’s investments, planning, taxes and finances, as well as the confidence and competence they need to navigate the challenges associated with a life with wealth.

What do you hope will be the result of receiving this accolade?

This recognition is a testament to our dedication and commitment to building a different kind of family office. It serves as validation of the efforts of our team and motivates us to continue raising the bar in providing exceptional service and solutions for our clients.

Outstanding Contribution to Wealth Management thought leadership Award (Individual)

Wealth Legacy Advisors is proud to share its 10 year Anniversary with the Family Wealth Report Awards.

Ten years ago we had a big idea – that what keeps families of wealth up at night is not their investments, taxes or estate plans, but rather raising their families in an atmosphere of wealth to become competent and confident stewards of their wealth.

Wealth Legacy Advisors congratulates CEO and Founder

Susan R. Schoenfeld

Helping Families To Become Competent And Confident Stewards Of Their Wealth

Susan R Schoenfeld CEO and Founder Wealth Legacy Advisors LLC

Winner

•

Outstanding Contribution to Wealth Management Thought Leadership (Individual)

Explain what you had to overcome in getting to this level?

2022 was a particularly challenging year, both globally and personally. Of course the pandemic was a game-changer for all of us. We had to learn to adapt to the new normal, to new ways of gathering, collaborating, and serving clients.

Wealth Legacy Advisors serves as partner to families of wealth through personal attention and human spirit, and provides guidance to families of wealth, family offices and their trusted advisors on the human issues of wealth: governance, legacy, stewardship, next generation and philanthropy. Based in New York City, Susan is a self-described “recovering” attorney and CPA with deep experience as an advisor to UHNW families and family offices. Susan’s passion is helping families of wealth reach their full potential.

Wealth Legacy Advisors is honored that Susan R. Schoenfeld, nationally recognized thought-partner to UHNW families and their trusted advisors, won in the Best ‘Outstanding Contribution to Wealth Management Thought Leadership (Individual)’ category at the Tenth Annual Family Wealth Report Awards 2023 program.

Wealth Legacy Advisors, also celebrating its 10th anniversary this year, has twice before been named as a winner at the Family Wealth Report Awards. In 2020, Susan Schoenfeld was awarded the prestigious 'Women In Wealth Management' Award for being “one of the few women on the national speaking circuit who is guiding financial services firms and their clients to connect with the human side of the client relationship.” In 2018, Susan also won for 'Outstanding Thought Leadership'

On a personal level, I overcame a potentially devastating sports injury in late 2021 that landed me in a wheelchair, and I spent the better part of 2022 recovering. Nevertheless, I showed up in-person to speak at conferences, spoke at virtual events, wrote more than a dozen articles, and inspired others with my journey from pain to recovery, self-pity to empathy, despair to gratitude.

What do you hope will be the main consequence of achieving this accolade?

Ten years ago I had a big idea – that what keeps families of wealth up at night is not their investments, taxes or estate plans, but rather raising their families in an atmosphere of wealth to become competent and confident stewards of their wealth.

The families who have invited me into their worlds these past 10 years are each fascinatingly unique but, upon reflection, do fall into two distinct patterns: families experiencing some pressing business transaction or transition, and families who want to “get ahead of the curve” by engaging in governance planning to set up the next generation for success and create structures for better communication and decision-making before the inevitable issues arise.

I am passionate about the work that I do with families of wealth. The so-called “soft issues” of wealth are the hardest of all, and I look forward to my next 10 years of guiding families through the land mines … and having fun while doing so!

Fiduciary Expertise, Innovation, And Collaboration In Every Relationship

Willow Street provides trust and fiduciary services from our office in Jackson, Wyoming. Founded in 2005, we work collaboratively with families and their advisors to provide guidance and administration for custom Wyoming fiduciary structures.

Every Willow Street relationship is founded on the principle that fiduciary services should be more than a commoditized, transactional business. Beyond simply implementing trusts, our approach is proactive, transparent, and comprehensive. With strategic, experience-based insight into trust organization and management, we help ensure the durability of a family’s legacy over generations.

Willow Street provides corporate trustee services to families of wealth seeking a responsive, relationship-focused fiduciary through our publicly chartered trust company overseen by the Wyoming Division of Banking. We also specialize in advisory, governance, and operations for Wyoming private trust companies, working with clients and their advisors to establish and administer these entities. As of December 2022, we administer over $36 billion for 169 client families based in the US and abroad; our clients are both multi-generational families and wealth creators.

Why do you think your organization won this year?

Our success hinges on the strength and depth of our team: each Willow Street colleague has strong foundational skills and industry experience related to our client families’ asset mixes and interests. Our uniquely varied backgrounds include estate planning, risk management, finance and investing, regulatory compliance, strategy, and operations.

Our focus on developing senior-level team members, who enhance the client experience and strengthen our in-house expertise and thought leadership, particularly contributed to our success this year. In 2022 we promoted three individuals to the role of managing director for the first time; we believe it is critical to elevate key colleagues to positions of expanded scope and accountability both to serve our clients and to ensure the long-term durability of the firm. In addition, this year we expanded our internal legal/compliance team to provide enhanced services to both clients and team members.

Collaboration and innovation are at the core of everything we do at Willow Street. We pride ourselves on developing meaningful

relationships with our client families and their advisory teams, both of whom we look to for inspiration and ideas. Due to the multidisciplinary – and often multi-jurisdictional – aspects of trust and fiduciary services, we are in ongoing dialogue with our clients and their legal, tax, accounting, investment, and family office advisory teams. We differentiate ourselves by bringing an innovative approach and strategic expertise to every relationship, providing the “glue” that binds together the guidance obtained from our clients’ advisors. Moreover, we regularly analyze learnings from each relationship to inform our approach and deliver those leading practices to our client families and their advisors – insights they value deeply.

This close collaboration allows us to provide carefully calibrated and bespoke services to each family. Our clients derive comfort and benefit from knowing that we consider every aspect of their wealth transfer structures, from the big picture to the risks and opportunities in the details.

• Fiduciar y or Trust Services

Willow Street

Versatile Skills To Manage And Leverage Wealth For Impact In Society

Christina Wing Founder Wingspan Legacy Partners

Why do you think your organization won this year?

I believe Wingspan Legacy Partners was highly commended in the category of Family Office Management Consultancy because of our proven commitment to our families and their needs. The families Wingspan partners with span numerous geographies, multiple industries, every generation, and all levels of involvement within family businesses and family offices. We advise our families on the intersections of family, wealth, and family business, and through frequent interactions, we develop a deep understanding of the diverse and unique challenges and opportunities facing family businesses and family offices of today and tomorrow.

Wingspan excels in helping family offices solidify their vision and enable our families to navigate change, manage risk and capitalize on opportunities to position them for sustained success and impact.

What contributed to your success this year?

My team either comes from family businesses or have worked in family business/family offices, startups or finance. They are well educated, thoughtful and innovative, and most importantly, they are good listeners. It is their first-hand and hands-on experience, combined with my mentorship, that gives Wingspan a distinct advantage. We are closely connected to those we serve. Whenever possible, we spend meaningful time in our families’ native environments to understand their values and culture, which provides invaluable insight into family dynamics and beliefs. With this knowledge, mutual trust is developed, allowing us to have the more difficult conversations and collaborate with the families to build customized solutions for the family’s long-term success.

• Family Office Management Consultancy

What will be the result of receiving this accolade?

I hope more families and founders learn about Wingspan and all that we offer in helping build and preserve legacy. We’re eager to partner with more forward-looking families and founders who want to build a strong legacy – as long as they share our values and are committed to leveraging their wealth to make a positive impact in society.

Please give us a sense of where you think the wealth management industry is headed.

The biggest issues on the horizon are the massive wealth transfer we’re about to see from founders of family offices to the next generation, and being able to identify talent in hiring people to manage the office. Many don’t have the governance structure or succession plans they need, and there are also differences between older and younger generations on the best ways to invest or run the office. It also takes a management team with versatile skills to manage this business and execute on the variety of demands. Families need to proactively resolve these issues to ensure successors will inherit wealth and potential – not chaos and conflict.

For Wingspan there is an opportunity to further advise founders and families on the best ways to effectively navigate these challenges and build a community to share ideas and access best practices. We are excited by the opportunities and see many ways to help these businesses thrive.

The Tenth Annual Family Wealth Report Awards Finalists 2023

The Tenth Annual Family Wealth Report Awards Finalists 2023

WINNER: Tamarind Partners

WINNER: Tapestry Associates

WINNER: The Schmidt Investment Group

WINNER: The Family Office at Synovus

WINNER: TOGGLE AI

WINNER: Venn by Two Sigma

WINNER: Veris Wealth Partners

Linda Mack and Mack International were selected as a finalist in three categories for the 10th Annual 2023 Family Wealth Report Awards: Leading Individual Service Product Provider, Women in Wealth Family Office, and Family Office Management Consultancy.

“We are honored to be recognized for providing a valued service, and that our efforts are aligned with best-in-class providers in wealth management”—Linda C. Mack

The Tenth Annual Family Wealth Report Awards Winners 2023

TECHNOLOGY CATEGORIES (VENDORS)

Bill Pay

Fintech Start-Up

Reporting

Client Communications (Excl. Reporting)

Portfolio Management

Product Innovation (B2B)

Process Outsourcing

TECHNOLOGY CATEGORIES (IN-HOUSE AND ADVISORS)

Client Driven Innovation (B2C)

Customer Facing Digital Platform

INVESTMENT & ASSET MANAGEMENT CATEGORIES

Alternative Asset Manager Asset Management Firm Serving Family Offices and Private Banks

Implementation of a Technology Solution/ Best Tech Stack

Private Client Investment Platform

INSURANCE CATEGORIES

Insurance Brokerage Provider Insurance Underwriter

Outsourced CIO

WINNER WINNER

WINNER

WINNER

Neil Nisker

We Place Your Family First®

20 years of providing direction, perspective, and confidence to families of wealth

FAMILY OFFICE CATEGORIES

Multi-Family Office (New Entrant)

Multi-Family Office (Up to and Including $2.5 Billion AuM/AuA)

Multi-Family Office ($2.5 Billion to $5 Billion AuM/AuA)

Multi-Family Office ($5 Billion to $15 Billion AuM/AuA)

Multi-Family Office ($5 Billion to $15 Billion AuM/AuA)

Multi Family Office ($15 Billion AuM/AuA and Above)

Multi-Family Office (Client Initiative)

Multi-Family Office (Client Initiative)

Outstanding CEO

Outstanding CIO

Outstanding CTO/COO

Rising Star Under 40

WINNER

WINNER

WINNER

Elana Vasi-Smith

Michael Clark

Ted Neild

Julie Lilly

PRIVATE CLIENT (LEGAL & FIDUCIARY) CATEGORIES

RESPONSIBLE INVESTING CATEGORIES

ESG Investing (Advisory)

ESG Investing (Product)

ESG Investing (Product)

Impact Investing (Advisory)

Impact Investing (Product)

CONSULTANTS TO PRIVATE CLIENTS CATEGORIES

COMMENDED

Family Office Management Consultancy

Family Office Management Consultancy

Family Wealth Counseling

Philanthropy Advice

Solutions for “International Americans”

WINNER

WINNER

WINNER

WINNER

SPECIALIST WEALTH MANAGEMENT CATEGORIES

Art & Private Collections

Concierge/Specialist Service Firm

Cyber Security

Healthcare Services

Marketing or PR Campaign

Property & Household

LEADERSHIP CATEGORIES

Diversity in Wealth Management (Company) WINNER

Leading Individual (MFO) WINNER

Leading Individual (Service Product Provider) WINNER

WINNER

Outstanding Contribution to Wealth Management Thought Leadership (Company)

Outstanding Contribution to Wealth Management Thought Leadership (Individual)

WINNER

Lifetime Achievement

WINNER

Stephen Prostano

Susan R Schoenfeld

Wanda Colburn

Edward V. Marshall

troweprice.com

Visualize better estate planning

Vanilla transforms legacy estate planning into a modern, easy-to-use experience that turns complex documents into ongoing conversations.

With a complete picture of your client’s total estate and deeper understanding of your ultimate goals, advisors can:

- Engage in deeper client conversations

- Expand share of wallet

- Differentiate and grow your practice

WOMEN IN WEALTH MANAGEMENT CATEGORIES

Women in Wealth Advisory (Individual)

Women in Wealth Banking (Individual) WINNER

Women in Wealth Family Office (Individual)

Women in Wealth Investment (Individual)

Women in Wealth Management (Company)

Women in Wealth Technology (Individual)

A Be�er Way To Manage Family

• Mul� -family, mul� -genera�onal

• Trust details and related par�es

• Tax prep management

• Integrated document management

• eSignature

• Distribu�on and payment tracking, approval and review

• Deal flow tracking

• Integrated financial informa�on

• En�ty hierarchies

• Family trees

The only CRM built specifically for ultra-high net worth family and asset administra�on.

• Family and professional portal

• Special asset management (Real estate, planes, are, other real property, PE and hedge funds, private placements, loans, insurance)

Sonya Mughal

Thanda Brassard

Shannon Kennedy

Erin Heck

Jen Becher

WINNER: Wealth Legacy Advisors LLC - Susan R Schoenfeld

WINNER: Willow Street

WINNER: Wingspan Legacy Partners

WINNER: Anchin Private Client

WINNER: Ronald Varney Fine Art Advisors

WINNER: BMO Family Office

WINNER: Gresham Partners LLC - Ted Neild

FEBRUARY 2023

WealthBriefing Swiss Awards

WealthBriefing WealthTech Americas Awards

MARCH 2023

WealthBriefing Swiss EAM Awards

WealthBriefing European Awards

MAY 2023

Family Wealth Report Awards

JUNE 2023

WealthBriefingAsia Greater China Awards

WealthBriefingAsia Awards

JULY 2023

WealthBriefing Wealth For Good Awards

OCTOBER 2023

WealthBriefingAsia EAM Awards

NOVEMBER 2023

WealthBriefing MENA Awards

DECEMBER 2023

WealthBriefing Channel Islands Awards

Whether you’re looking to protect and grow your assets for future generations, succeed in your business ventures, or prepare for the unexpected, Wilmington Trust is here to help guide you through life’s transitions. To learn more about how we can help you achieve your goals, visit wilmingtontrust.com.

Wilmington Trust is proud to celebrate 120 years of helping generations of families and businesses thrive.