[et_pb_section fb_built=”1″ _builder_version=”4.16″ custom_padding=”4px|||||” global_colors_info=”{}”][et_pb_row _builder_version=”4.16″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.16″ custom_padding=”|||” global_colors_info=”{}” custom_padding__hover=”|||”][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_cta title=”Empower America’s Legacy: Join the Movement for Family Businesses!” button_url=”https:\/\/familyenterpriseusa.com\/2024-annual-family-business-survey\/?utm_source=FEUSA&utm_medium=cta&utm_campaign=2024Survey” button_text=”Take the 5-minute ANONYMOUS survey now and shape the future of family-owned businesses. Your voice matters!” admin_label=”Call To Action Top” _builder_version=”4.23.1″ _module_preset=”default” background_color=”#397389″ custom_button=”on” button_bg_color=”#ff0019″ custom_padding=”16px||19px|||” global_module=”9695″ saved_tabs=”all” global_colors_info=”{}”][\/et_pb_cta][et_pb_divider color=”#397389″ divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text admin_label=”1″ _builder_version=”4.23.2″ text_font=”||||||||” text_font_size=”16px” background_size=”initial” background_position=”top_left” background_repeat=”repeat” global_colors_info=”{}”]<\/p>\n
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\u00a0<\/em><\/strong><\/p>\n Family office industry is facing a tough future, according to three experts discussing the topic in a new Family Enterprise USA podcast<\/a> airing now.<\/p>\n The new episode of \u201cThe Voice of Family Business on Capitol Hill<\/a>,\u201d hosted by Pat Soldano, President, Family Enterprise USA and Policy and Taxation Group, is a panel discussion with Family Office Exchange (FOX) founder, Sara Hamilton, and Margaret Steen, editor of the new family office newsletter, The FO Pro, from MLR Media, publishers of Family Business Magazine.<\/p>\n The panel discussion centered on several critical issues facing family office models, including different approaches used to meet different family goals, and whether one approach is preferred over another.<\/p>\n The podcast also discusses the challenges centered on \u201cThe Next Generation\u2019s\u201d entrepreneurial spirit coupled with the often unwillingness of the current leaders to give up complete control of the family business.<\/p>\n Sara Hamilton provides an overview on the variety of reasons families start family offices, stating family goals determine the cost of the family office more than the size of the assets the family has under administration.\u00a0 She referenced a recent FOX Benchmarking survey that included 151 family office respondents who had from $150 to $900 Million in investable assets, with office costs ranging from $640,000 to $3.7 million.<\/p>\n These were among the many issues the panel members discussed, including what family offices need to focus on today and how family offices balance older generational goals and priorities with new priorities of rising generations.<\/p>\n \u201cGenerally, the multi-family office has more resources, more powerful technology, and pooled investment resources,\u201d Hamilton says during the episode. \u201cBut the single-family model is dedicated to the family first, offers the highest service level, is in total control, and offers the ultimate in privacy,\u201d she says. \u201cBoth models provide continuity for the family members, and both treat the office like any other business, but they need to have different service offerings for the different generations. That is critical.\u201d<\/p>\n Steen, in the podcast, says family business members are looking for information and resources on how best to manage family interests, whether it\u2019s new wealth or a multi-generational family business.<\/p>\n \u201cFamilies are looking for the best approach to fit their needs,\u201d she says. \u201cThey\u2019re looking for resources and information on services, fees, and generational needs,\u201d she said. \u201cThis tells me there is a great opportunity for family offices to fill that need.\u201d<\/p>\n Host Soldano, with deep experience in managing family offices, offers in the discussion that the Next Generation of family business leaders aren\u2019t necessarily convinced they need traditional family office service offerings, like household or real estate management, or even investment advice.<\/p>\n Soldano, former manager of the western region for Genspring, a multi-family business office, believes many in the Next Generation think they can \u201cbecome do-it-yourselfers.\u201d<\/p>\n \u201cThey often believe they can handle many management responsibilities themselves and they are willing to take on riskier, more entrepreneurial investment options,\u201d she says. \u201cThey want to know if their wealth can make a difference in the world. This podcast goes deep into the challenges facing family offices<\/a> and what they need to do to adapt, and survive now, and in the future.\u201d<\/p>\n Soldano is President of Family Enterprise USA and its sister organization, Policy and Taxation Group. Both are based in Washington, DC, and advocate for America\u2019s family businesses.<\/p>\n This latest episode is now airing on Spotify, and other major podcast platforms, such as Apple iTunes and TuneIn. The podcast is sponsored by Cilker Henderson Properties, the leading medical office provider in Silicon Valley.<\/p>\n Subscribers will receive alerts as future shows are posted. \u00a0To find it on Spotify go to: https:\/\/open.spotify.com\/show\/73pcpIL2NfPi11WG0FZdyX?si=xIww0QSoS_OHMdOeR9qXhw<\/a><\/p>\n [\/et_pb_text][et_pb_divider color=”#397389″ divider_weight=”2px” disabled_on=”off|off|off” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_text disabled_on=”off|off|off” admin_label=”Become a member text” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5822″ global_colors_info=”{}”]<\/p>\n As we prepare for what promises to be a pivotal year for America, we’re asking you to consider becoming a member.<\/p>\n The need for fact-based reporting of issues important to multi generational businesses<\/a> and protecting a lifetime of savings<\/a> has never been greater. Now more than ever, multi generational businesses<\/a> and family businesses<\/a> are under fire. That’s why Family Enterprise USA<\/a> is passionately working to increase the awareness of issues important to generationally-owned family businesses<\/a> built on hard work, while continuing to strengthen our presence on Capitol Hill. The issues we fight for or against with Congress in Washington DC include high income tax rates<\/a>, possible elimination of valuation discounts, increase in capital gains tax<\/a>, enactment of a wealth tax<\/a>, and the continued burden of the gift tax<\/a>, estate tax<\/a> and generation skipping tax<\/a>.<\/p>\n [\/et_pb_text][et_pb_button button_url=”https:\/\/familyenterpriseusa.com\/donate\/” button_text=”Become a Family Enterprise USA Member” button_alignment=”center” disabled_on=”off|off|off” admin_label=”Become FEUSA member button” _builder_version=”4.21.0″ _module_preset=”default” custom_button=”on” global_module=”6503″ global_colors_info=”{}”][\/et_pb_button][et_pb_divider color=”#397389″ divider_style=”dotted” divider_weight=”2px” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_divider][et_pb_video_slider disabled_on=”off|off|off” admin_label=”Video Slider Family Business Stories 2″ _builder_version=”4.21.0″ _module_preset=”default” global_module=”6670″ global_colors_info=”{}”][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=y9VszpRjVDM” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=03T2VODneEg” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=fHIxWaTwK64″ _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][et_pb_video_slider_item src=”https:\/\/www.youtube.com\/watch?v=TI7P07GbNdU&t=27s” _builder_version=”4.19.4″ _module_preset=”default” global_colors_info=”{}” show_image_overlay=”off”][\/et_pb_video_slider_item][\/et_pb_video_slider][et_pb_text disabled_on=”off|off|off” admin_label=”FEUSA Statement” _builder_version=”4.21.0″ background_size=”initial” background_position=”top_left” background_repeat=”repeat” link_option_url=”https:\/\/familyenterpriseusa.com\/donate-2\/” global_module=”5910″ saved_tabs=”all” global_colors_info=”{}”]<\/p>\n Family Enterprise USA<\/a> promotes generationally<\/a> owned family business<\/a> creation, growth, viability, and sustainability by advocating for family businesses<\/a> and their lifetime of savings with Congress<\/a> in Washington DC.\u00a0 Since 2007, Family Enterprise USA<\/a> has represented and celebrated\u00a0all sizes, professions and industries of family-owned enterprises and multi-generational<\/a> employers. It is a bi-partisan 501.c3 organization.\u00a0Family foundations can donate.<\/a><\/p>\n [\/et_pb_text][et_pb_text disabled_on=”off|off|off” admin_label=”Hash tags & Tags” _builder_version=”4.21.0″ _module_preset=”default” global_module=”6498″ global_colors_info=”{}”]<\/p>\n #incometax #taxseason #federaltaxpolicy #taxation #EstateTax #Deathtax #wealthtax #taxLegislation #CongressionalCaucus #CapitalGainsTax #incometaxrates #incometaxseason #taxrefund #taxreturn #incometaxreturn #gifttax #Generationskippingtax #InheritanceTax #repealestatetax #FamilyBusiness #promotefamilybusinesses #familyowned #supportlocalbusiness #womeninbusiness #AdvocatingForFamilyBusinesses #Generationallyowned #Multigenerationalbusiness\u00a0 @FamilyEnterpriseUSA @PolicyAndTaxationGroup @DitchTheEstateTax #FamilyEnterpriseUSA #PolicyAndTaxationGroup #DitchTheEstateTax<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":" Family Offices Must Adapt as Next Generation of Family Businesses Take Center Stage, Experts Say in New Family Enterprise USA Podcast Family Office Exchange (FOX) Founder Sara Hamilton and The Family Office Pro Newsletter Editor Margaret Steen Discuss Trends, Challenges Family Office Mangers Face Today; with Host Pat Soldano, President, Family Enterprise USA \u00a0 […]<\/p>\n","protected":false},"author":2,"featured_media":10210,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","content-type":"","footnotes":""},"categories":[48,78,98],"tags":[],"class_list":["post-10208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-family-businesses","category-in-the-news","category-podcast"],"acf":[],"_links":{"self":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/10208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=10208"}],"version-history":[{"count":4,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/10208\/revisions"}],"predecessor-version":[{"id":10223,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/posts\/10208\/revisions\/10223"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=\/wp\/v2\/media\/10210"}],"wp:attachment":[{"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=10208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=10208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/familyenterpriseusa.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=10208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}We hope you’ve enjoyed this article. While you’re here, we have a small favor to ask…<\/em><\/h4>\n
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