The Evolution of a Successful Family Office National Webinar

David Salsburg, Gresham’s President, was a panelist in Andersen’s national webinar held on November 9th titled “The Evolution of a Successful Family Office.” The panel of experts addressed investment, tax, legal, regulatory and other considerations a wealthy family would confront in the face of a global recession.

This webinar was the second in a three-part series Andersen held for its clients and friends, with experts like David providing advice based on their extensive experience serving wealthy families. David’s comments included:

  • Planning for major challenges, such as a global recession, is critical to minimize the adverse impacts that may result and potentially position the family to play offense when others are playing defense. This planning can include sound portfolio construction, a reasonable spending rate, downside protection strategies, cash flow and liquidity planning and effective governance.
  • In the midst of a global recession, a family needs to avoid panic and take a disciplined approach to reviewing investment strategies, debt servicing, cash needs and liquidity options, with a goal of being able to deploy new capital opportunistically.
  • It is also important to have an effective asset ownership structure in place, which can include using separate entities for different investor profiles or investment strategies. Such a structure can avoid harmful impacts caused by competing interests within the same entity and enable good decision-making, especially when capital markets are in turmoil.

Please contact your Gresham team member if you would like to learn more about this event.

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