WATCH VIDEO: i3 recently hosted the experts from Black Lantern Security, Dr. Philip Hartlieb and Larry Campbell, for a 90-minute session geared toward family office and family business data security.
Social Distancing requires increased remote-work security awareness. The latest FBI report details that Cyber Actors are taking advantage of the Covid-19 pandemic to exploit vulnerabilities and fears.
Join us April 23 @ 3PM to learn more about protecting your employees and data for a no-fee webinar with Black Lantern Security
Mar 26, 2020 03:00 PM EDT
The question for every Family Business becomes one of recovery after the event; how do we rebuild short-term losses and communicate resiliency to our customers, employees, vendors and communities?
i3 CEO Kevin Heaton enjoyed contributing to this
Forbes article from Christopher Carosa on #FamilyBusiness Owners’ Three Biggest Practical Personal #Wealth Questions
Internet-enabled crimes and scams show no signs of letting up, according to data released by the FBI’s Internet Crime Complaint Center. Educating the family as to potential threats, and having a clear, realistic and actionable policy in place will go far in protecting the family from cybercrime.
It is wise to direct efforts focused on identifying and acquiring assets that meet the current and long-term needs, establishing a healthy balance for risk/reward appetite, and meeting the goals of an investment timeline during a recession period and beyond.
“i3 is proud to have grown its private asset management and family CFO services business over the past twelve years solely through client referral” said CEO Heaton. “Perfecting what works has allowed i3 to steadily refine our services and evolve our methodologies and deliverables.”
Authority Magazine, a Medium publication, is devoted to sharing interesting “interview series” featuring people who are authorities in Business, Film, Sports and Tech. They use interviews to draw out stories that are both empowering and actionable. This enlightening interview from Kevin Heaton highlights the “5 Things I Wish Someone Told Me Before I Became the CEO of i3”
(This article by Kevin Heaton is reprinted by permission and originally appeared in the Insurance Research Letter, November 2019 issue.)
Leveraging the expertise of a Family Office and guidance of a Family CFO, high-wealth families can conduct the due diligence necessary to identify insurance coverage gaps before crisis occurs.
This webinar is presented by Kevin Heaton, Founder i3, LLC Private Asset Management & Family CFO Consulting Services, and David Lisko, a litigation and business attorney with Holland & Knight and a member of the firm’s national Entertainment Law and Sports practice. David is also the Founder of the Sports Business & Leadership Association https://nationalsbla.com
When the time to create a family office arrives, many families settle for what, or who, they already know. High net-worth families and their businesses have complex structures and those complex structures are most often understood by either their current CPA or their CFO, but is that the best approach?
The foundation of a single family office is a family’s desire to have access to information through multiple channels, they want an infrastructure that enables them to manage assets, philanthropic endeavors and administer the family’s lifestyle, and they want investment counsel and opportunities for both private assets and financial assets.
Suffering an investment loss happens to most investors at least once, and a major loss can result in trauma that can be hard to overcome if not managed properly. The key, experts say, is turning from the loss toward a plan of action and recovery rather than fear and inaction.
For High-wealth Families, Social Broadcasting creates significant leakage. High-wealth families must view themselves as organizations, as they are equally if not more vulnerable to criminal threat via technology. They must employ the same safeguards and multiple levels of security as do best-of-class organizations.
Do you talk to your kids about money? You should. Learn how. Our Founder Kevin Heaton recently contributed thought leadership to OppUniversity on 8 #Money Habits Parents Should Start Modeling Right Now along with Alexandra Fung, Caroline Vencil, Jonathan Huang, Deb Meyer and others — Give it a read in full, and Kevin’s thoughts are below:
Leveraging the expertise of a Family Office, families can conduct the due diligence necessary to identify all sleeping filing cabinet assets and in essence, wake them up. Through this strategy, there may be opportunities for reevaluation of investment position, reinvestment opportunities, and more important, held-asset risk analysis.
Whether inherited over generations or newly created through the success of a small business grown large, the management of high wealth – if handled poorly – can be the catalyst for a crisis of stunning proportion that reverberates from one generation to the next. It can be the collapse of the entire family foundation. It can be the storm of the century.
To sum it up, a CNBC article described it as: “…when the money began to run out, it triggered a family feud … [one] that saw mother and son turn on each other, landed one family member in prison, and left a name once associated with entrepreneurship and philanthropy forever tarnished by scandal.”
Families that take the critical step of developing separate plans for their business and their family wealth management, and within those plans, create constitutional covenants, will find that although conflict will occur, they are better prepared to respond without creating organizational- and generational-wide disruption.