Linda Mack speaks on Family Office Best Practices at the Fifth Annual Private Wealth Management Summit, in Kuala Lumpur, Malaysia
Linda C. Mack, founder and president of Mack International LLC was a featured panelist at the Family Office Best Practices Forum during the fifth Annual Private Wealth Management APEC Summit held at the Hilton Kuala Lumpur Hotel, Oct. 27-29 in Kuala Lumpur, Malaysia.
Chicago, IL (PRWEB) November 11, 2014 – Mack International LLC, the premier family office/wealth management retained executive search and consulting services firm, announced today that the firm’s Founder and President Linda C. Mack was a featured panelist at the fifth Annual Private Wealth Management APEC Summit at the Hilton Kuala Lumpur Hotel in Kuala Lumpur, Malaysia on Oct.29.
The fifth annual Private Wealth Management APAC Summit is the premium forum bringing elite buyers and sellers together. As an invitation-only, private event, the summit offers regional single-family offices (SFOs), multi-family offices (MFOs), wealth advisors, and international fund managers and consultants an intimate environment for a focused discussion of key new drivers shaping wealth preservation and investment strategy.
Linda Mack was a featured panelist at a Family Office Best Practices session titled “Greater collaboration for Greater Results: Unleashing transparency while leveraging in-house talents to maximize ROI, reduce costs and boost overall performance.” Other panelists included Richard Boyce, MD, Boyce Family Office, and Alex Lega, Founder and Director, Sterling Partners.
“Building and running a family office comes with its own set of challenges, and operating successfully while controlling costs remains a key concern for the attendees,” Mack said. “To stay competitive family offices must strive to develop innovative investment strategies, comply with rising regulations, understand clients’ unique needs, identify key partners and retain talent to deliver service excellence. While there is no secret recipe, there are a number of success factors enabling optimal results,” Mack added.
The panel, which was moderated by Todd Benjamin, former Financial Editor, CNN International, was a highly interactive one that explored key challenges faced by family offices and best practices for:
- Selecting key advisors for the family/family office
- Engaging and educating the next generation and promoting entrepreneurship
- Making decisions to insource vs. outsource the delivery of family office services
- Integrating treasury management as a part of the family office value proposition to deliver value-added services while saving costs
- Building fruitful collaborations with investment managers and solution providers to create win-win situations and mutual benefits
- Attracting and retaining key talent to lead the family office and deliver operational excellence
- Developing effective operating metrics to measure family office success
- Stepping up from price taker to price maker to reduce costs by re-pricing investment products independently
- Protecting family/family office privacy and security
“Recruiting for families and family offices is a complex process, best achieved through customized and consultative work with the families,” Linda Mack said. “No two families are ever alike, yet so many different families report the same challenges. It is universally critical to recruit and retain talent for key leadership roles who are not only technically qualified to be successful but who are also the right “culture fit” for the family and will remain with the family for 15 to 20 years.”
About Mack International
Mack International, LLC, headquartered in Chicago, is a global consulting and retained executive search and strategic management/human capital consulting firm serving national and international clients in the family office, family business enterprise and wealth management industries. Mack International is known for its unmatched industry expertise, in-depth market knowledge and unparalleled track record of success. For more information, visit www.mackinternational.com or call 800.976.0015.