FundCount at FOX
FundCount was once again a sponsor at the Family Office Exchange’s (FOX) largest annual conference, the Fall Enterprise Forum. With its theme of “Preparing for the Unexpected” many sessions focused on family preparedness — both for opportunities and risk. Sessions such as “Global Risks and Your Risk Management Strategy” and “Is Data the New Alpha?” emphasized the theme.
In “Managing the Unexpected Using an Opportunity and Risk Framework” FOX presented its research on managing opportunities and risks in the family enterprise. Offices that embrace change, are open minded, employ creative managers and have responsive, flexible systems and processes will be well-positioned to handle disruption. The session addressed “the family view, the business view, the financial view, and the philanthropic view of the family enterprise” and offered a formal opportunity and risk management oversight process.
The research did not cover operational or systemic suggestions for managing unexpected risk, another critical component that should be incorporated into a family office’s risk roadmap.
At the FundCount booth, many single and multi-family offices dropped by to say how they’re now on QuickBooks and Excel or an array of siloed systems. They know how inefficient, unsecure and unmanageable operations and information are — and thus how risk is heightened and opportunities lost. Thankfully, FundCount provides a solid first step toward “preparing for the unexpected.”