FON Magazine - Holiday Issue - 2020

FA M I LY

O F F I C E S

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W E A LT H

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P H I L A N T H R O P Y

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F I N E

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L U X U R Y

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M AGAZIN E

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L I F E S T Y L E

LIVE LIKE

ROYALTY

IN THESE ITALIAN CASTLES

OUTSIDE SAO PAOLO A WEEKEND HOME IN THE OPEN SKY

HEAD TO ONE OF THESE WONDERLANDS THIS WINTER

FLYING IN HIGH STYLE

PRIVATE JETS FOR DISCRIMINATING TRAVELERS

MALIBU’S MAR DE AMOR ON PARADISE COVE A HOME FOR LAVISH LIVING

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READY SET

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We are corporate jet leasing, done right.

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ANDREW SCHNEIDER F O U N D E R /

P U B L I S H E R

from

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The Publisher

I hear over and over how difficult it is to connect with family offices, and we’re dedicated to making that possible for select companies with unique offerings.

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t’s no secret that family offices are among the largest consumers of luxury products and services, such as yachts, art, private aviation, collectibles, jewelry and much more.

Interestingly, during the past five years that FON has been hosting events at art galleries, polo and other high-end luxury venues, we have attracted more family offices than many of the traditional wealth management conferences. While many of these events have been virtual in 2020, we’re slowly getting back to normal and hope to see everyone soon either online or in person.

I hear over and over how difficult it is to connect with family offices, and we’re dedicated to making that possible for select companies with unique offerings. FON currently has over 200,000 members, including about 15,000 U.S. and global family offices with between $50-100 million net worth. We reach the top four percent of the global population in terms of income with an audience that has a median age of 54, including 72 percent male and 28 percent female. We see the average age decreasing as more and more families involve their children and grandchildren in the family business and decision-making process. If you have a product or service that’s a good fit for our families, I invite you to reach out to us.

As we continue to keep our pulse on the family office community, we’re dedicated to meeting the demands of our discriminating audience for news and features that impact their daily lives.

Keeping up to date on the latest and greatest luxury goods and services is essential and we strive to offer magazine content that is interesting, entertaining and aspirational.

I’m especially excited about Family Office Marketplace and hope that our readers will enjoy learning more in my Q&A included in this issue. As background, family offices can utilize our new Marketplace technology in several important ways. It’s a great way to buy, sell and/or rent luxury goods and services and learn what they have to offer to families in our network.

Andrew Schneider Founder/ Publisher

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Trusted Legal Advisor. Pepper focuses on assisting family offices in deploying and managing their investments, as well as assisting families in the creation and structuring of their family offices.

Berwyn Boston Detroit Harrisburg Los Angeles New York Orange County Philadelphia Pittsburgh Princeton Rochester Silicon Valley Washington Wilmington pepper.law

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Content FAMI LY

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Any form of reproduction of any content on this magazine without the written permission of the publisher is strictly prohibited. © 2020 FON Magazine.

All rights reserved.

AR T

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LUX URY

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LIFEST YLE

THIS WINTER

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LIVE LIKE ROYALTY

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OUTSIDE SAO PAOLO

IN THESE ITALIAN CASTLES

A WEEKEND HOME IN THE OPEN SKY

COPY EDITOR Sara O’Boyle 561.812.4000 sara@fonmagazine.com

The opinion expressed in each article is the opinion of its author and does not necessarily reflect the opinion of FON Magazine or Family Office Networks.

Therefore, FON Magazine and Family Office Networks carry no responsibility for the opinion expressed thereon.

FIN E

TO ONE OF THESE 08 HEAD WONDERLANDS

ART DIRECTOR Surej Kalathil (Sunman) 561.827.9072 surej@fonmagazine.com

The information in this issue of FON Magazine is for information purposes only. FON Magazine Inc. assumes no liability or responsibility for any inaccurate, delayed or incomplete information, nor for any actions taken in reliance thereon.

The information contained about each individual, company, product or organization has been provided by such individual, company, product or organization without verification by us.

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HOLIDAY ISSUE

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ASTON MARTIN DEBUTS DBX

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FLYING IN HIGH STYLE

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MALIBU’S MAR DE AMOR ON PARADISE COVE

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FON MARKETPLACE

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LAURENCE GARTEL

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NSORO FOUNDATION

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HOW THE STRUCTURES OF FAMILY OFFICES

– A HOME FOR LAVISH LIVING

& FUTURE OF FINTECH

:THE FATHER OF DIGITAL ART

A LIFELINE FOR YOUTH AGING OUT OF THE FOSTER CARE SYSTEM

AS ITS FIRST-EVER SUV

– PRIVATE JETS FOR DISCRIMINATING TRAVELERS

ARE EVOLVING TO MEET THE GROWING NEEDS OF THE

UHNW

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PIAGET

POSSESSION NOVELTIES TIME PIECE AND JEWELRY COLLECTION

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Head to One of These

This Winter

BY VICTORIA L. HOFFMAN

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or those who dream of a white winter wonderland where snowcapped peaks and powdered trails beckon to you as they shout your name, here’s a glamorous list of the top places to visit this winter. Whether you’re looking to party like a rock star or spend quality time with your family or loved one, these resorts all have one thing in common – luxury.

This word may mean something different to each person – your ski butler not only warming your boots, but actually delivering a hot toddy to you on that steep slope or perhaps it’s the chauffeur-driven Maybach taking your group to a celeb-filled nightclub. Then again maybe it’s simpler – a plethora of topnotch trails and high-tech ski lifts are all you need.

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Whether you’re looking to party like a rock star or spend quality time with your family or loved one, these resorts all have one thing in common – luxury.

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Big Sky, Montana Head to this area of the Rockies where skiers can enjoy 5,850 acres of trails along with 38 lifts and 7 terrain parks. Big Sky is the second largest resort in the U.S. in terms of acreage and has more than 400 inches of snow per year. The area is overdue for recognition as being one of the top ski spots in the world. No wonder affluent people like Tom Brady, Ben Affleck, Justin Timberlake, and Bill Gates own homes at the nearby very exclusive Yellowstone Club where the initiation fee is $300,000 for starters. This very high-end private community also has its own ski area.

Among its aspirations, Big Sky plans to invest millions in further development of the village particularly in the tourism and hospitality sectors. The luxury Montage resort brand is making roots here and will open the Montage Big Sky, the first ultra-luxury resort in the area set on more than 3,530 acres of land with ski-in, skiout access in 2021. Offering a mix of hotel and private residences with prices starting at close to $6 million, features will include private ski lockers, an 18-hole Tom Weiskopf-designed golf course, a state-of-the-art fitness center, a bowling alley, a ski shop, and other ski-related amenities.

With so many acres, it’s a no brainer that every level of skier should do well here. Given the small amount of traffic to the area, there are basically no lift lines.

Highlights: Dine at the upscale Everett’s 8,800 nestled at the top of Andesite Mountain. Take the lift up where you can enjoy the mountain views and head back via an enclosed snow coach.

Who Goes: Serious skiers, the affluent who like to avoid crowds.

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Jackson Hole, Wyoming Many ski enthusiasts have the challenging Jackson Hole, known as The Big One, on their winter bucket list as the Teton slopes are not for the shy. It boasts the highest vertical drop in the U.S. at 4,139 feet. There are 116 named trails of which 50% expert, 40% intermediate, and 10% beginner are stretched across 2,500 acres with an additional 3,000 acres in its backcountry. A region that is often overlooked, Jackson Hole may not have mega ski resorts or plenty of high-end hotels, but it does have ample trails, rugged terrain, and a breathtaking backdrop with tons of wildlife to see at the National Elk Refuge.

For daredevils there’s heli-skiing and a quick tram system known as “The Red Heli.” For those more experienced skiers, head to 12

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Corbet’s Couloir considered one of the toughest runs at Jackson Hole. Prefer to skip the blacks? There’s something for everyone - dog sledding, snow shoe, and snow mobile activities.

One of the great features of the resort is its aerial tram which takes people to the top in only 12 minutes. Just a few years ago, the Sweetwater Gondola opened which is a mere two-minute ride and takes those who are beginner and intermediate to easier trails.

Highlights: Stay at the posh Four Seasons or the jaw-dropping Amangiri nearby.

Who Goes: Advanced skiers; lovers of wildlife

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Park City, Utah Home to the Sundance Film Festival and the 2002 Winter Olympics, Park City Mountain Resort has 7,300 skiable acres which makes it the largest ski resort in the U.S. At nearby Deer Valley Resort there’s an additional 2,026 acres of powdery terrain. It doesn’t hurt that the area receives about 300 inches of snow per year.

Park City has definite charm and this is in part due to its significance in the history books of the American West. Once deemed a silver mining town, which was settled in 1869, there are plenty of landmarks that still exist. Specifically, there are 47 preserved buildings on the National Register of Historic Places.

Among them is the general store, a former hotel along Main Street, and an old jail.

Many of the posh hotels offer ski-in/ski-out accessibility allowing guests to literally step on and off the slopes. For those looking for a challenge try the steep Daly Bowl for a double black diamond run. Experience high-speed chairlifts at the fabulous Montage Deer Valley and after a day of skiing the mountains, kick up your feet at their Veuve Clicquot après ski lounge.

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At the swanky St. Regis Deer Valley, guests have the option to stay in a residential home or the hotel. One of its key amenities is it operates its own funicular (railway system up and down the mountain). After skiing all day, select a fantastic red from their 13,000-bottle wine cellar. One of their many great attributes is the customized bobsledding experience with an Olympian finalist. Guests can expect access to the bobsled track at Utah Olympic Park where the 2002 Winter Games took place.

While there is quite a selection of five-star hotels to choose, in recent years, there have been more luxury chalets and residential hotel developments being built. For instance, at Victory Ranch residents can enjoy the exclusive ski-in/ski-out clubhouse at the base of the Park City ski resort. Other amenities on site include an 18-hole Rees Jones–designed golf course, a 50-foot swimming pool, a fitness center, and two restaurants.

The Auberge “hotel” brand opened the Lodge at Blue Sky and is nestled on 3,500 acres outside of Park City offering a serene glance of elegant rustic life. Besides heli-skiing, guests can enjoy many activities including clay pigeon shooting, horseback riding, and more.

The food scene is just another reason why Park City continues to be a hot destination. Whether looking for a pub on Main Street or planning to dine at one of the hotels, there’s variety based on your mood from casual to five-star dining.

Highlights: For après ski, head to the High West Salon, a historic building that is now a distillery. If you want an authentic Utah mountain experience, go to the Viking Yurt and take a sleigh ride on the way up while drinking hot chocolate.

Who Goes: All levels of skiers, socialites, and families Telluride, Colorado This small quaint 19th century mining town, which also has a Mountain Village, offers some serious skiing with lifts that reach 12,515 feet high and has 2,000 acres of multi-level terrain.

What makes this resort a great destination is that it offers plenty of skiing for all levels and lots of places both on and off the mountain to shop, eat, and stay. Each area is full access to skiin/ski-out and there’s a gondola that connects the town to the village.

For those daredevils there are plenty of cliffs and chutes to test your double black prowess. Unlike many other ski resorts, Telluride has an onsite daily Heli ski operator. Snowboarding here is also high on the list. While there are plenty of trails and terrain, it’s impossible to get lost with the well-organized lift system in place.

Favorite hangouts include the rooftop pool at The Madeline Hotel which is an Auberge Resort and is always in demand. A must visit is the Telluride Distilling which has a great assortment of liquor plus their own varieties of award-winning schnapps.

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Dining in Telluride is full of winners. From tacos and pizza to fine dining at places like the incomparable 221 South Oak, learn about food and wine pairings. Visit Alpino Vino, a five-star dining experience at almost 12,000 feet elevated.

For those who don’t particularly wish to ski there are still plenty of activities to enjoy. Visit nearby ghost towns, go dog sledding, learn how to ice climb, and take a snowmobile tour.

Highlights: Check out the New Sheridan Hotel’s Wild West saloon and see where Butch Cassidy did his first bank heist.

Who Goes: Friends, families, and all levels of skiers and snowboarders CANADA Whistler Blackcomb 16

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Imagine flying via helicopter over sparkling glaciers and lush landscapes of green forests. Skis barely touch down and hit the powdery mountains exploring the 3,677 square mile terrain.

There is silence in your ears except for the swoosh of down runs and the thump of your heartbeat as adrenaline overtakes the body’s core. You are jumping off mountaintop ridges, holding your breath as you navigate your way through tight tree lines, and hear names like Eye of the Tiger. You return to base camp via chopper to your luxury heated tent – a pop up hotel created specifically for the ski season- located above the Kuldo River, which offers prime access to long glacier runs and steep chutes that promise to challenge even the most seasoned skiers. During your stay you have access to 100,000 feet of vertical time. After a long day of runs, dine on albacore-tuna tataki and magret duck.

Now….welcome to Whistler!

Located in British Columbia, Canada, Whistler Blackcomb is for those who love the outdoors and nature. And what’s there

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not to like? Expect gushing waterfalls, snow-capped mountains, shimmering lakes, challenging trails, and incredible restaurants.

With more than 8,100 acres of resort, about 40 feet of snow annually, and 200+ marked trails, it’s no wonder that there are so many winter sports activities and festivals in the region. The longest trail lasts for seven miles and descends more than 5,000 vertical feet.

Advanced skiers love the terrain and look for additional adventures such as zip trek tours in which thrill seekers swing from tree top bridges to explore Whistler’s Signature Mountains.

Other activities include hiking, biking or bobsledding. For those who prefer the easy life such as sipping cognac at the fireplace or indulging in a spa, there’s also plenty of shopping, art galleries and museums to explore.

During the winter months, there’s a Fire and Ice Show every Sunday which highlights Whistler’s best skiers and riders as they flip and jump through a ring of fire while a DJ is on hand and fireworks illuminate the sky.

Despite the enormous terrain, Whistler and Blackcomb

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Mountains are connected by the resort’s PEAK 2 PEAK Gondola which enables skiers to access both mountains in one day.

At its base discover a picturesque village which offers an array of shops, accommodations, and some of the best après-ski scene. Check out the coldest Vodka Bar in the world. Head to the Mountain Club, a members-only facility, offering amenities such as hot tubs, saunas, pools, private lockers, and preferred parking. Take a Heli adventure to the backcountry ice caves and hot springs. By helicopter visit Howe Sound and then onto a 4-person Stingray submarine to explore under the water of Howe Sound Fjords.

Highlights: Take a helicopter ride with panoramic mountain views to a farm where guests will gather glacial ice to use in a mixology class.

Nothing like a private après ski!

Who Goes: Intermediate and expert skiers and snowboarders, sports enthusiasts, couples, friends, the affluent EUROPE

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Courchevel 1850, France Courchevel is known as the most glamorous destination in the French Alps offering 18 five-star hotels and the greatest concentration of Michelin star restaurants (there are seven) outside of Paris. It also has incredible skiing without crazy lines and spectacular views of Mont Blanc. Courchevel is connected to the Trois Vallées, the largest ski domain on the planet.

At 1850, expect well-groomed pistes ideal for the international jetsetter who more often than not, also frequents Saint-Tropez in the summer. Make no mistake – if you come here- you are a diehard adrenaline junkie, but let’s not forget that those who come often need to soothe the body and mind with sinful decadent restaurants, designer labels, and out-of-this-world five star spas.

If you’re thinking of heading there this winter, here’s what you need to know. Le Strato, a five-star boutique hotel, is located right on the slopes and offers impeccable guest services with a more personalized approach from the staff. With sweeping views of snow-capped mountains, guests can enjoy marble bathrooms and Nepresso machines in their rooms. Like many of its competitors, Le Strato offers a dedicated children’s playroom. Before you hit the slopes, you’ll be fitted for heated gloves and boots and there is the opportunity to rent luxury brands in case you forgot your fashionable ski outfit.

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After coming off the slopes you may consider a yoga class, a personal trainer, or better yet some champagne. This leads us to think about dinner plans at the two-star restaurant Baumanière 1850. Only open in the evenings, enjoy Jerusalem artichoke covered in truffles and fish from Lake Geneva drizzled with a pumpkin jus.

Enjoy the people-watching at la Croisette where you will also find all the luxury and latest in fashion. Le Tremplin is a top après-ski spot. Also consider dining at Le 1947 located in the very elegant Cheval Blanc which is the only restaurant in France to receive a Michelin three-star rating in 2017. A favorite hotel among celebrities and the elite, this boutique five-star LVMH owned property boasts ski-in/ski-out access. If you can, book the extraordinary apartment which is dressed in fur, leather, and cashmere with modern glamour.

Le Kintessence at the Hotel Le K2 has two Michelin stars and so does the Montgomerie at the Hotel Le K2 Altitude. In 2017 Chef Mauro Colagreco — whose Michelin-starred Riviera restaurant, Mirazur, was named fourth in The World’s 50 Best Restaurants 2017 — arrived in Courchevel 1850 with the opening of his BFire restaurant at the very happening and newest addition to the area - Barrière Les Neiges Courchevel. Besides enjoying the chic lobby, check out the minibars that look like travel trunks and are covered with Hermès hides. There’s also the ski room, a private cinema, and an exceptional, movie-themed Kid’s Club, complete with a hangout area for teenagers. Soak your feet and get a massage at the Spa Diane Barrière – one of the largest spas in Courchevel.

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Not to be outdone, Aman Le Mélézin opened a holistic spa which has experiential showers, hot and cold pools, and services designed to combat the cold and dry skin such as dry brushing to boost circulation and a hot stone massage.

For those who prefer total seclusion, rent one of the many fabulous ski-in/ski-out chalets where the interior of the private elevators are designed and covered in leather with the famous LVMH logo and couches are comprised of Mongolian fur by Fendi. How about taking a lap in the indoor swimming pool or watching the latest movie in your private theater? For the kids, they can hang out in their castle complete with costumes or they can spend time in the vast music room where they can record their own lyrics.

The dilemma in coming to Courchevel is to decide which fivestar hotel or private property really outshines the other ones. As each offers outrageous over-the-top amenities including theaters, bowling alleys, children’s playrooms, music rooms, and stateof-the-art fitness centers, and spas, the only solution is to keep coming and trying different places.

Highlights: Go for Christmas and New Year’s when there are dance parties on the slopes and Santa’s Parade.

Who Goes: Royalty, celebrities, families, and the uber-rich.

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SWITZERLAND Gstaad Located in the Southwest part of Switzerland, this upscale village has one of the largest ski areas in the Swiss Alps and is popular among the international elitists. Upon arrival, visitors will feel as if they stepped into a Charles Dickens novel with its picturesque backdrop of snow-capped peaks, forests, cobblestone streets, horse drawn carriages and luxury chalets. The area even has an outdoor skating rink.

For those who decide to spend their winter holiday here, chances are they will spend a good deal of time shopping in one of the many designer shops ranging from Chanel and Hermes to Cartier and Louis Vuitton and pretty much every Swiss jeweler in between that has “sparkled” the hands, ears, and necks of people including Elizabeth Taylor and Jackie Kennedy to Prince Charles and Madonna.

Gstaad offers 136 miles of slopes including Glacier 3000, which is the only glacier in the region (well-heeled locals go by helicopter).

The destination is primarily recognized as one of the top ski areas for cross-country especially there are four valleys offering trails for all levels. Both snowboarders and skiers will discover 53 lifts – 10 gondolas, four trams, 17 chairlifts and 22 surface lifts— which accesses 136 miles spread over 103 pistes.

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Additional outdoor activities include curling, ice skating, bob sledding, indoor tennis and more.

Perhaps the most famous hotel of all is the Gstaad Palace which is nestled on a hill overlooking the Swiss Alps. With its luxury accommodations including suites and a penthouse, it’s no wonder that this is the hottest destination jetsetters flock to. Besides their five restaurants and famous GreenGo nightclub, there’s also the state-of-the-art gym and their spa which is a great place to unwind after a day of skiing.

Enjoy pastry-making classes, peruse art galleries, and wine and dine at all the Michelin-star restaurants.

Highlights: Go to Le Grand Chalet and select from their 1500wine bottle list. Have a private tour, tasting, and lesson at Maison Cailler, the oldest chocolate brand in Switzerland. Purchase the regional lift ticket which provides access to other Super Ski Region resorts and local transportation.

Who Goes: Glamorous rich people, celebrities, families, royalty, intermediate skiers St. Moritz The name alone sounds glitzy and it still remains an affluent ski town for jetsetters. Located almost 6000 feet above sea level, St. 22

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Moritz has been declared the “Top of the World.” From casinos to polo-on-snow, there’s something for everyone. Fashion’s finest ostentatious darlings arrive doused in plenty of fur, jewels, and the fanciest couture wear money can buy. St. Moritz consists of three villages: Bad, Dorf, and Celerina. Dorf has the most considerable amount of restaurants, nightclubs, and shops.

Despite its glamour, elegance, and notoriety for “being seen in the scene,” St. Moritz is considered a top ski area for serious sports enthusiasts with plenty of winter activities including polo, bobsledding, ice skating, and horse racing and cricket on the frozen lake. A favorite sport of those who flock to this destination, is Nordic skiing and guests can enjoy 115 miles of cross-country trails. The resort has five ski areas (Corviglia, Corvatsch, Lagalb, Diavolezza, and Furtschellas), which consist of 220 miles of exquisite mountain terrain with 56 lifts.

Intermediate skiers will adapt best to this terrain with 350km of pistes spread over four main sections. Each village has its own lift to the center of Corviglia which is the main ski area. For expert skiers try the black runs at Diavolezza and Lagalb.

The most famous hotel in the region dating back to the 19th century is the five-star Badrutt’s Palace which has its own private six acres of ground next to Lake St Moritz. It has seven restaurants and also boasts the King’s Club, the hottest nightspot.

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Highlights: Enjoy afternoon tea on terrace where you can people watch and enjoy the majestic views.

Who Goes: Jetsetters, the rich, royalty, intermediate skiers, families

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single will be allowed on two-seat lifts. On four-seat lifts, two singles can sit on the opposite side of each lift. On six-seaters, either two singles or two parties of two can sit separated on opposite sides.

Safety Guidelines This Season for North America For the 2020-21 ski season, Vail Resorts will require all skiers and snowboarders to reserve mountain space. The ski conglomerate consists of 34 North American resorts. Even those with seasonal passes must reserve ahead of time as there will be limited capacity.

Here’s how it will work – those who buy individual lift tickets will reserve their mountain space at the time of purchase, while pass holders will use a different reservation system to schedule ski days.

Epic Pass holders will be able to reserve mountain space only a week in advance. However, Vail does not plan to sell any daily lift tickets until December 8 which means only pass holders will ski prior to that date. Additionally, pass holders will be able to reserve mountain space for up to seven different days of Vail‘s core December 8 to April 4 ski season before daily tickets go on sale.

To maintain safety, face coverings are mandatory on the mountain, in lift lines, on ski lifts and at resort amenities.

Other things to note - physical distancing will also be required. On chairlifts, parties at the resort together will be able to ride together. But singles will be separated. Just one

ABOUT THE AUTHOR: Victoria L. Hoffman is the owner of the luxury agency Concierge & Events by Victoria (soon-to-be The Dreammakers Agency) that provides one-of-a-kind WOW experiences, luxury Virtuoso travel programs, and event planning.

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LIVE LIKE ROYALTY in These Italian Castles

BY VICTORIA L. HOFFMAN

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While there are many spectacular castles throughout Italy, we have selected Central Italy where there is an abundance of magnificent castles dotting the landscape each with their own unique story to share.

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xploring castles in Italy can be met with enthusiastic appeal especially for those with interest in architecture and history as no two castles are alike given their broad spectrum of shapes and imposing appearances. Perhaps the greatest factors in determining their facades come from the political landscape and regional rivalries through the centuries as well as the historic age – the Italian Renaissance, medieval military style, Gothic, and Byzantine eras.

With many properties restored to their former glory, it’s no wonder that present day generations of noble families still own and maintain their appearances and have turned these ancient relics into luxury hotels. In celebration of their culture and legacy, traditions can still be enjoyed and experienced – whether attending a medieval joust, a masked ball, a boar hunt, or opera.

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From majestic towers to sumptuous palazzos overlooking vineyards and lush green rolling hillsides, it is easy to step back into history and become part of a fairytale. Be pampered with massages while gazing at ancient ruins from afar, sip on bold red wines at sunset, and enjoy all of the modern amenities while enjoying the authentic feel and flavor of where queens and kings once dined, slept, and fought for their domain.

While there are many spectacular castles throughout Italy, we have selected Central Italy where there is an abundance of magnificent castles dotting the landscape each with their own unique story to share.

Castello di Vicarello, Cinigiano, Tuscany In the rolling Maremma hills of southern Tuscany, this 12th century boutique hotel surrounded by vineyards and divine olive groves and organic gardens offers plenty of experiences from wine tastings and truffle hunts to cooking classes and horseback riding. Throughout the years, this family-run property has won many awards including Condè Nast Traveler – The Gold List 2019, Food and Travel Magazine – International Hotel of the Year 2018, Decanter – Platinum Medal 97/100 points, and more. www.castellodivicarello.com Castello Di Spaltenna, Gaiole Castello di Spaltenna dates back to the 12th-century castle and is located in the Chianti region. The current bedrooms were once the quarters of monks. Expect medieval décor of shields and armory, an outstanding 26

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wine cellar, an outdoor swimming pool in a private park, and an array of accommodations including villas. www.spaltenna.it Castello Banfi — Il Borgo, Montalcino The 17th century Banfi Castle, Castello Banfi – Il Borgo is that ONE – producers of some of the most incredible award-winning red wines including Brunello and Super Tuscans. Enjoy the food, wine, and incredible views of the Tuscan countryside. Surrounded by fruit orchards and forest, Castello Banfi Il Borgo, among its amenities, offers both formal and casual dining options, a reading room, cooking lessons, horseback riding, and more. www.castellobanfiilborgo.it/en Castel Monastero, Siena Castel Monastero is situated in the center of Chianti and is perched on top of a hill overlooking lush vineyards, cornfields, chestnut forests, and Cyprus trees. Once a medieval village and XI century monastery, the property houses a gym, spa, and two gastronomic restaurants (one of which is owned by Chef Gordon Ramsay). In the fall, take advantage of the truffle hunting. This location is ideal for a wedding and for those incredible aerial views, try a hot air balloon ride. www.castelmonastero.com Castello di Casole, d‘Elsa, Tuscany Set on 4,200 acres of green Tuscan countryside is this 10thcentury castle turned boutique hotel. Besides the marvelous views, the accommodations feature many original frescos and

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beamed ceilings. From the infinity pool to the spa, there’s plenty to enjoy including the fillet of beef Tosca with foie gras and black truffle. Enjoy the fancy cocktail bar and al fresco dining.

Explore the ancient vineyards and towering cypress trees. www.casalidicasole.com Castello di Velona Resort, Thermal SPA & Winery, Montalcino This one thousand year-old property which has a 12th century Watchtower intact offers an in-depth look at the castle’s evolution over the centuries from medieval battles to the splendor of the Renaissance. Enjoy beautiful sunsets and the estate’s vineyards. Here in this pure heaven focus is on wellness in the form of wine and spa treatments. Drink as much Brunello di Montalcino as you want and dine in TWO Michelin-star restaurants onsite. www.castellodivelona.it Travel tip: Visit the Tuscan countryside in early fall and take advantage of the truffle hunts and festivals that are held on an annual basis. We also like the Palio di Siena, a traditional horserace, that is held twice per summer in July and August.

As this article goes to print, please be advised that many of these castles are currently closed due to COVID-19. With your safety in mind, please check the websites for updates.

ABOUT THE AUTHOR: Victoria L. Hoffman is the owner of the luxury agency Concierge & Events by Victoria (soon-to-be The Dreammakers Agency) that provides one-of-a-kind WOW experiences, luxury Virtuoso travel programs, and event planning.

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Outside Sao Paolo A Weekend Home in the Open Sky

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hen long-time clients of Ali Behnam Bakhtiar expressed a desire to build a weekend escape just outside of Sao Paolo, Brazil, the initial plan to build at the base of a lovely hillside soon evolved into a decision to look to the sky and build closer to the top.

Choosing to positively use the height required immense structural support and beaming, including integration of the surrounding rock and working with suspension. To make sure the foundation was solid and seismic, the team used strong natural materials such as concrete, titanium and high quality bronze throughout, not just as a design choice but also as a functional necessity.

Highlighting the stunning landscape, the house is designed to be as versatile and open as possible, with large water features and a super convertible roof. Being able to hear the sound of water, smell the fresh air and see the open sky within the house, gives the home a connection to nature rarely found in properties this size.

The multiple swimming pools together form a fountain, with the upper swimming pool leading into the master’s private swimming pool and then again into the main swimming pool, which serves the guest house and pool house.

The lower ground features a spa with a beautiful orchid garden to enhance the relaxing mood. Lateral planting and carefully 28

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curated vegetation further envelops the house with conscious green, and the outside fireplace and all-round natural colour palate complete the holistic sense of balance. The home lives and breathes nature. This extends to power and water use as the property is built to be off the grid with solar panels, internal soil heating systems and water filtration systems supplying the house and gardens.

“My clients had a multi-functional vision for the property; a party space, a business arena and a private family home. So, the rooms were designed to be easily transformed, divided and merged.

The dining room, for example was fitted with soundproof sliding doors, to host the option of a confidential conference room,” said Ali Behnam Bakhtiar, who previously designed homes for the owners in Geneva, London, St Moritz and Saint-Jean-CapFerrat.

The high tech subterranean garage space not only makes parking a futuristic experience, it also makes it reclaimable as a private night club. Strategically placed LED lights in the rocks and walls lead to underneath the house where a dual purpose room allows cars to be elevated away, bars to unfold, a dance floor to come through and in-built hydraulics to provide an instant lounge area.

The transformation from garage to night club is easy, fun and fully in-line with the owners’ wish for malleability. The entertainment

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“As a designer, I believe the house turned out so well because we never compromised on excellence.

Everyone and everything involved in the project was the best we could find. It created not just a magnificent house, but also a unique home.

The unification with, and celebration of nature paired with hyper modern comfort, makes for a divine experience of simultaneous relaxation and excitement,” - Ali Behnam Bakhtiar.

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area includes a cinema, billiard room, pool room and library – all luxuriously furnished for comfort. Every room has its own story to set it apart, providing some entertainment in and of itself.

From a technology point of view, the whole property is systemized, perfectly engineered and motorized to work specifically for this house and to be fully automated to suit the owners’ personal preference. This includes a centralized oxygen machine that constantly measures, enhances and purifies the oxygen throughout the house, a high-end built in sound system, and adaptable smart lighting. Naturally, all windows are bullet proof and soundproof for privacy and security purposes.

Everything is understated and discreet, yet of the utmost quality.

The designer used the best craftsmen and experts from around the world, commissioning Italian rock sculptures, French concrete specialists and countless artisan products. From the cutlery, to the linens and the crockery, everything was especially created or tailored for this house. The ‘house perfume’ was developed

by Delmona, an independent French luxury house, who created a unique scent for the house with matching beauty and body products.

“As a designer, I believe the house turned out so well because we never compromised on excellence. Everyone and everything involved in the project was the best we could find. It created not just a magnificent house, but also a unique home. The unification with, and celebration of nature paired with hyper modern comfort, makes for a divine experience of simultaneous relaxation and excitement,” said Ali Behnam Bakhtiar.

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ASTON MARTIN DEBUTS DBX as its First-Ever SUV

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f you’re yearning for a fast and stylish sports car but require the comfort and convenience of an SUV, be sure to check out the Aston Martin 2021 DBX – the company’s first-ever SUV.

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BASE PRICE FOR THE 2021 ASTON MARTIN DBX IS $192,986.

With 700 Nm maximum torque, 550PS maximum power and the ability to go from 0 to 62 mph in 4.5 seconds, the DBX exudes the famous Aston Martin style made famous by James Bond and others. It drives like a sports car yet features the latest safety features and technology combined with luxury throughout.

Its architecture is based on a new platform the company designed especially for the new SUV with the company’s signature lightweight aluminum body to ensure strength and toughness.

Aston Martin describes the new DBX as “polite and cultured, but with a sting in its tail.” Active all-wheel drive with variable torque distribution, height adjustable air suspension, double wishbone front suspension combined with a multi-link rear axle, powertrain and suspension developed by the finest engineers, and electronic

adaptive damping on every wheel distinguish it from rival SUVs and position the DBX in a class all its own.

Its interior features modern dark wood contrasted with Obsidian Black and Ivory as well as fine, soft leather and a microsuede headliner. Customizable ambient lighting, three-zone climate control, and heated front and rear seats are standard features.

Popular options include ventilated front seats, heated steering wheel, and upgraded luxury cabin materials. The DBX is roomy – even for adults – with ample cargo space including 22 cubic feet behind the rear seat and 54 cubic feet with the rear seats folded.

Technology features include Apple CarPlay, built-in navigation, a 14-speaker audio system, and USB and 12-volt charging outlets.

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Flying in High Style

Private Jets for Discriminating Travelers

“Clients are not looking for anything outrageously luxurious, golden and showy. On the contrary, they call for some simplicity, which in the end is indeed the true luxury,” said Yves Pickardt, head of Alberto Pinto’s aircraft interior design department.

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rivate jets are not just flying homes or flying offices.

They are much more than simply a travel experience.

Today’s discriminating family offices have extremely high standards when flying private, seeking comfort and elegance above all else, and demanding only the best from their designers.

Typically, every private aircraft is completely personalized from the upholstery, bed linens, fabrics, and carpets to the soundproofing, lighting systems, telephony, galley, bathrooms, live TV and Internet connection, tableware, and uniforms. All of these elements combine together to change a cabin into a fullfledged living space, uniting a network of varied skills. Interior work is performed from the moment the order is placed to the moment the plane is delivered, including locating the completion center where the plane is transformed. The process requires two-three years on average. Design drawings must include every detail required for technical approval since certifications and tests in this sector are especially restrictive and performed twice. The 34

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final step – installation – requires optimal quality control.

Alberto Pinto, a Paris-based aircraft interior design firm, believes these challenges inspire it to execute at its peak level of creativity and is an example of a sought-after design firm working with family offices around the world. The firm prides itself on complete and total precision and the 30+ aircraft interior projects it has completed since 1998 reflect its dedication to the high standards that high net worth and family office clients demand.

“Clients are not looking for anything outrageously luxurious, golden and showy. On the contrary, they call for some simplicity, which in the end is indeed the true luxury,” said Yves Pickardt, head of Alberto Pinto’s aircraft interior design department.

Designing luxurious aircraft interiors requires more than simply selecting fine furnishing, fabrics, colors and fittings. Due to airline industry rules and regulations, a designer must respect the extreme technical constraints and severe regulations of an industry where everything must be done to the letter. Aeronautical officials must approve all decorative additions, there is limited space, and materials selection is critical. This presents opportunities for a designer to execute at their peak level of creativity due to the limited availability of space and the crucial choices in best materials of woods, carbon fibers, carpet, leather and metals.

“The most infinitesimal architectural and decorative details must be finalized even before the plane sees its ultimate assembly. Every element must be customized, calculated to the millimeter and made entirely on a small, or even one-off, scale. Inventiveness is FON MAGAZINE / HOLIDAY ISSUE 2020 / FONMagazine.com

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Our vision of flying on a BBJ MAX 7 is a perfect balance of modernity and comfort design and our philosophy is more or less always the same - a full contemporary design or soft and modern. The idea of comfort and elegance is primordial.

Typically, clients seek a “Super Chic French Touch,” which is mainly handmade using the best French, Swiss and Italian suppliers. Our designers create a relaxing and comfortable atmosphere by selecting furnishing, fabrics and fittings in a color palette of warm beiges and creams to evoke a sense of well-being.

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the very essence of this sector,” Pickardt explains.

For example, the Airbus A320 Neo is able to welcome 19 passengers in an open-plan forward lounge, a mid-cabin conference and dining room and at the back, an en suite master bedroom that includes the first large rectangular shower installed in an ACJ. The Airbus A319 is divided into four parts - the master bedroom with en-suite bathroom, dining area, main lounge, and private lounge. There is also an area where the crew of the plane may rest along with two galleys.

“Our vision of flying on a BBJ MAX 7 is a perfect balance of modernity and comfort design and our philosophy is more or less always the same - a full contemporary design or soft and modern.

The idea of comfort and elegance is primordial. Typically, clients seek a “Super Chic French Touch,” which is mainly handmade using the best French, Swiss and Italian suppliers. Our designers create a relaxing and comfortable atmosphere by selecting furnishing, fabrics and fittings in a color palette of warm beiges and creams to evoke a sense of well-being,” Pickardt said.

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Malibu’s Mar de Amor on Paradise Cove A Home for Lavish Living

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ituated on 2.6+ lush oceanside acres along the Pacific Coast Highway in Malibu, California is a timeless architectural home known as Mar de Amor -- the Sea of Love. The property is the epitome of luxury coastal living in a world-class location featuring a private beach, captivating views, an elegant aura, and virtually everything one needs to relax on the beach in style.

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From the moment one approaches this magnificent 12-bedroom, 14-bath 10,646 square foot home, it is evident that it is built for lavish living. An impressive gated entry and long drive to the entry ends at a spectacular masterpiece graced with walls of modern glass. The powerful two-story entry features a dramatic 18-foot floor-to-ceiling crystal chandelier surrounded by a sweeping circular stairway in a backdrop of sheets of white walls and Bianco Carolina white marble floors.

Once inside, guests are greeted by an open living, dining and bar room with seemingly endless windows that span to an infinity pool and beyond to showcase the ocean, coastline and island vistas from each floor. Decks, patios, Zen walkways, greenery and intimate patios abound.

Additional touches include a large tennis court, gymnasium, lavish sculptural elements, and a 20-seat theater with a digital projector and Dolby sound.

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Aspiring homeowners may contact Sotheby’s International Realty to purchase this masterpiece for $115M.

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Mar de Amor features only the finest materials combined to create a masterful blend of indoor outdoor and seamless living spaces overlooking the beauty of the Pacific Ocean. A top of the line chef‘s kitchen is complete with steel cabinets, black stone and a Nano Glass Island with professional appliances and an elevator serving the lower entertainment level. The extraordinary upstairs master bedroom is a visual feast with an infinity pool touching the ocean, hillside greenery and ocean vistas. Since guests require an equally impressive space for their vehicles, the home also has an eight-car subterranean garage.

Aspiring homeowners may contact Sotheby’s International Realty to purchase this masterpiece for $115M.

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An Interview with Family Office Networks CEO & Founder Andrew Schneider on

FON Marketplace & Future of Fintech

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amily Office Networks created FON Marketplace as an online technology platform designed for family offices to access private deals and connect with other family offices to co-invest; research luxury goods and services; share philanthropic ideas; and more. It was created to streamline the process of investing in a private placement which today is still an antiquated system. We’re using a proprietary algorithm that enables family offices to easily identify the best opportunities.

qualified issuers to list their offering. FON Marketplace is the largest platform of private placements consisting of hedge funds, venture capital funds, private equity, direct deals, PIPES, and anything that falls under the definition of a private placement.

Family Office Networks CEO & Founder Andrew Schneider shares his insights on the innovative platform and the future of the fintech industry.

What is FON Marketplace?

During the 20 years I have been working with family offices, a common complaint is lack of access to good deal flow, alternative investments, and other services families traditionally seek. Many family offices have accounts at the biggest banks which may be too big to take advantage of the best private deals. FON Marketplace is a digital platform that provides family offices the ability to connect with other families through co-investments, educational events, philanthropy and luxury products and services.

FON Marketplace was initially designed for only family offices that had their own deals and were looking for a few family offices to co-invest; however, as demand for our distribution grew exponentially, we decided to open the platform and allow other 46

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FON Marketplace is a digital platform that provides family offices the ability to connect with other families through co-investments, educational events, philanthropy and luxury products and services.

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FON Marketplace includes: Family Offices – 15,000+ single and multi-family offices with $50-500M net worth, plus 60,000+ UHNW investors Issuers - Hedge funds, private equity, venture capital, real estate, blockchain, RIAs, private and public companies Service providers – Legal, accounting/tax, cost segregation, fund administration Luxury – Yachts, private aviation, luxury cars, art, jewelry, butler services and luxury experiences Philanthropy – Charities and family foundations

When did you launch luxury products on FON Marketplace?

How exactly does it work and how can I search for the best prospects?

That is a great question. I saw that family offices are the biggest consumers for luxury products and services such as private aviation, yachts, art, collectibles, fashion, vacation homes, etc. With this in mind, we rolled out a luxury newsletter four years ago that received a tremendously favorable response. The reason we added luxury to FON Marketplace is to help drive more traffic and quality families. In addition, with today’s global macro conditions we have seen changes to almost all the major events, conferences and shows. If you are looking to buy, sell or rent any luxury products we are the most efficient way.

FON Marketplace is easy to navigate. The “View Listings” tab enables users to access lists of family offices and high net worth investors. These contacts can be sorted by geography, total and liquid net worth, age, investment interests, yacht & aircraft ownership, and more. There’s a total of 15,000+ single and multifamily offices with $50-500M net worth, plus 60,000+ UHNW investors listed. Issuers on the site include hedge funds, private equity, venture capital, real estate, blockchain, RIAs, private and public companies. Service providers include legal, accounting/ tax, cost segregation, fund administration. We also feature yachts, private aviation, luxury cars, art, jewelry, butler services, luxury experiences, charities and family foundations.

Who is the audience for FON Marketplace?

We currently have over 200,000 members and about 15,000 family offices both domestic and global. We reach the top four percent of the global population in terms of income with an audience that has a median age of 54, including 72 percent male and 28 percent female. The average family office is between $50 million-$500 million net worth. The average age is going down as more and more people are making bigger decisions online especially our children and grandchildren.

If I am a company trying to raise money, what are the benefits?

Any company seeking to work with family offices realizes that they are often difficult to reach. FON Marketplace is a forum to get those companies in front of key family office decision makers who are dedicated to best in class relationships. By utilizing technology, FON Marketplace makes it easy for family offices to conduct due diligence and share recommendations with their like-minded peers. Legal services, administrators, accountants and marketing experts that specifically deal with family offices are in high demand. By listing your business with us, you will place your company directly in front of the right target audience at a cost of $5,000 a month.

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What are the costs to list my company on FON Marketplace vs. buying a membership?

A bronze membership on FON Marketplace is a three-month commitment at a total of $15,000 and after that it is a month to month membership. Most new deals that get listed will get the majority of the exposure in the first three months. A membership provides the same benefits plus webinars.

The benefits are tremendous on this new world that is forming.

It is evident that big conferences will not be a factor in the near term. Companies get a lot of exposure with all the family offices that use the site. In addition, they are featured in our weekly newsletter and also can search through our database of thousands of family offices and contact them directly.

In light of what has gone on with the coronavirus how do you feel about the future for Fintech?

I feel that the industry was already moving further away from traditional wealth management and our ability to make changes and adapt to situations like this will really help companies like ours to grow tremendously as the demand for good deal flow continues to grow. As travel will be more inconvenient, more and more companies looking to raise money will be doing so online.

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How can family offices benefit from accessing FON Marketplace?

Family offices can utilize the new technology in several important ways. The platform simplifies the investment process by enabling users to filter transactions by key parameters such as size, industry and geography. They can also take advantage of joining the Family Office Investment Clubs, spread out the cost of due diligence, access to deal flow and access to educational and informative events and much more.

In addition, it is a great way to buy, sell and/or rent luxury goods and services and learn what they have to offer to families in our network. Family offices will also be able to share philanthropic ideas and thought leadership on FON Marketplace, and we will continually be adding new features and capabilities.

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How does FON Marketplace work for issuers?

FON Marketplace lists alternative investment offerings in private equity, hedge funds, real estate, direct, sponsored and venture backed transactions. Essentially, FON Marketplace is an easy and efficient way to share ideas on products, deals and other investment opportunities. The overall intent is to streamline the private placement process and get more transactions funded and closed efficiently in an online community that is open almost exclusively to family offices, accredited investors, other brokerdealers and financial advisors with family office clients. Since family offices are able to do due diligence more efficiently and act more quickly than institutional investors, the lead time to get deals done is typically shorter, which issuers appreciate.

FON Marketplace makes it very easy for issuers to reach family offices and other potential allocators in a timely and very costefficient way, especially in light of recent events. I don’t see this as just a change because of the coronavirus since many companies were already seeking a more viable strategy for raising capital. FON Marketplace is positioned to be one of the largest companies catering to the highly sought out family office industry and investor category.

How can luxury products and services benefit from a listing on FON Marketplace?

I’m seeking to raise $25 million in the next three to six months for my company. Can FON Marketplace help?

Absolutely. By listing your offering on FON Marketplace you will benefit from our proprietary technology that is based on an algorithm designed to get the listing in front of as many qualified family offices as possible which have expressed interest in that strategy or space. Due to our extensive network of relationships, we’re a very cost efficient way to market your product to the family office community.

The FON Marketplace audience is driven to discover new luxury product and service opportunities. In response, we have high level partnerships in place with a select group of luxury companies that our families enjoy, including art, automobiles, private aviation, jewelry, travel, yachts, and more. FON Marketplace is an ideal spot to get the best luxury offerings in front of the right audience in order to boost visibility and sales.

Family offices are the largest consumers of luxury products and services, such as yachts, art, private aviation, collectibles, jewelry and much more. Over the past five years, we have been doing many events at art galleries, polo and other high-end venues that have attracted a lot more family offices than many of our traditional wealth management conferences. In addition to FON Marketplace, we list offerings on our luxury magazine (FONMagazine.com) and weekly luxury newsletter.

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“WHEN YOU EXPECT THE BEST, HIRE THE BEST.” WHETHER BUYING, SELLING, OR SEARCHING FOR THE PERFECT CORPORATE AIRCRAFT, IT HELPS TO HAVE AN EXPERT THAT UNDERSTANDS THE BUSINESS. WITH 35 YEARS OF EXPERIENCE, WE GUIDE YOU THROUGH THE ENTIRE PROCESS WITH EXCEPTIONAL SERVICE, UNRIVALED EXPERTISE, AND ABSOLUTE INTEGRITY.

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How can non-profits participate in FON Marketplace?

Family offices are dedicated to identifying philanthropic endeavors that are important and life-changing. Many substantial family offices are in the midst of dealing with the largest transfer of wealth between generations that we have ever seen and creating a truly lasting legacy is at the forefront of these crucial decisions. They want to vet potential philanthropic partners and make a difference. For that reason, FON Marketplace lists leading philanthropic causes and provides guidance on how to get involved.

How can anyone interested in FON Marketplace get more details?

If you have an opportunity that is a good fit for the family office community, please visit www.fonmarketplace.com. For information about Family Office Networks, contact Andrew Schneider at andrew@familyofficenetworks.com

I am a high end real estate broker. Is this a beneficial place for me to reach new clients?

Family offices typically have more than one residence and are always seeking new destinations at which to make family memories.

They’re committed to working with brokers who understand the nuances of meeting their very high expectations and often rely on FON’s recommendation when making a decision. In addition to providing an opportunity to meet potential new clients, FON Marketplace is an ideal place to list homes for sale and reach qualified purchasers. Family office typically have the majority of their net worth in real estate or their own business.

I’m debating whether to sell or rent my yacht. How could FON Marketplace help me?

With its strong focus on luxury, FON Marketplace has specific sections/platforms for each type of luxury experience and boating is one important area that’s of keen interest to family offices. FON Marketplace lists options for both renting and selling yachts and also includes trusted vendors who serve the industry such as interior designers, catering, crew staffing, and more.

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LAURENCE GARTEL

THE FATHER OF DIGITAL ART INTERVIEW BY S A R A O ’B O Y L E

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aurence Gartel, known as “THE FATHER OF DIGITAL ART,” continues to be recognized for his innovative and eye-catching works within his multifaceted portfolio. Before the official publication of photo editing software in 1987, Gartel invented his own process to manipulate images using photo synthesizers and TVs. Since then, nothing has changed about Gartel’s ultramodern approach. From Polaroid prints to Tesla cars, no potential canvas is left untouched. While a single article cannot begin to capture all the works that encompass Gartel, he sat down with us to discuss his earliest memories of art, his greatest inspirations, and what we can expect from him in the future

PHO TO CR E D I T: PHOTOGR A PH Y B Y S UNM A N

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Let’s start from the beginning. What is your earliest memory of creating art?

When I was two years old, I crawled out of my crib and drew around my mother on her bed sheets while she was sleeping with red lipstick. I went up the walls as far as I could stand. That is my first memory of creation.

What about your first major accomplishment related to art?

When I was nine years old, I went to the Pels School of Art in the old Ansonia Hotel on 73rd Street in New York City. I went there every Saturday for seven years, until I built my portfolio to be accepted in the High School of Music Art (known to many as the FAME High School, which they made a movie about in 1980; this was seven years after I graduated). Also, in sixth grade, I was given a scholarship to attend a children’s gifted art program at Pratt Institute in Brooklyn.

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My mom would often say, “Laurence, aren’t these masterpieces wonderful?”

I would often reply, “Mom, you know my work is better than this!” She would give me a whack upside my head. How could a kid be so self-assured, and so determined all at the same time? I knew I had a long road ahead of me, but if I stuck to it, I would become a success.

What inspires you?

Growing up I read many books on Renoir, Van Gogh, Monet, Manet, and Picasso in our apartment in the Bronx as my parents had them. I was riveted and mesmerized by their work. My parents were very encouraging, and they had my art hung up all over the house. They were very proud to frame each one. I believed I was right where I needed to be—developing my skills, one brush stroke after another.

My mother would also take me to the Guggenheim Museum and the Metropolitan Museum of Art to look at the work of Paul Klee, Vassily Kandinsky, Miro, and Alexander Calder. These artists were my biggest inspirations for success in the art world.

My mom would often say, “Laurence, aren’t these masterpieces wonderful?” I would often reply, “Mom, you know my work is better than this!” She would give me a whack upside my head.

“ Coco Cola for the Atlanta Olympics” © 1996

“ Morong Falmouth V W Beetle Art Car” © 2014 FON MAGAZINE / HOLIDAY ISSUE 2020 / FONMagazine.com

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GARTEL Feature of the 113th NY International Auto Show.

25,000 sq.ft Pavilion of Art Cars and Motorcycles.

Photo Credit: Photography by Sunman

How could a kid be so self-assured, and so determined all at the same time? I knew I had a long road ahead of me, but if I stuck to it, I would become a success.

There is a photo I often think of, of myself when I was ten. I am standing next to the sign that says, “Welcome to the Art Gallery: Admission 25¢.” I always believed art and commerce went together. People should know their value and the value of their art.

Among some of the greats you worked with, I heard one was Andy Warhol. Please tell us about your experience with him.

I met Andy at Studio 54 and taught him how to use the Amiga Computer to create Debbie Harry‘s (Blondie’s) album cover. He was a very quiet, gentle fellow. He did not have much dexterity in using a mouse, but it was a good moment in any case.

“ Artist image of Himself” “Digital Titan “ Exhibition, Palm Beach Photographic Museum, WPB,2018 54

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The curator of the Lucca Museum, Maurizio Vanni, felt that my working with Warhol was the touchpoint of when pop art merged with digital art. So, in 2017, he organized the exhibition “Warhol vs. Gartel: Hyp Pop,” which has been traveling around Italy for four years. Exhibitions have been on hold since COVID-19 but should resume once things start getting back to normal.

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Please tell us about the most challenging piece you have worked on to date.

Perhaps, producing the Grammy Statue for the 57th Annual Grammy Awards in 2015. Essentially, my art was wrapped around the statue to be used as the official image on the invitation, poster and program used for the VIP entry tickets. This was a very tedious project, particularly the art on the interior of the horn.

Your hand can only go up so far, so I needed tools to be able to go to the very end and then smooth it out. The opposite side of the art was sticky so it could adhere to anything that it touched. Art always has a technical aspect to it when it comes to big projects.

It must come out perfectly, which is thrilling. The final statue had to be perfect for photography purposes. Thirty thousand of the greatest entertainers received that Grammy ticket with the art.

What does your creative process look like? And what is your most crucial artist tool?

Taking photos has always been a part of my process and the camera has always been my most important artist tool in capturing reality. Life itself is an inspiration for me so photos have always been an important part of that. I have been taking pictures almost every single day since I was ten years old. My father got me a Kodak Hawkeye camera and we used to have the film processed at the local drug store. Then, he purchased a Polaroid instant camera for our vacation trips to Florida. It was there that “instant gratification” was born.

Everyone knows it is the creative mind that triggers it all once the photo is taken. Back in 2005, I went to India to produce a Bollywood style “video music.” (This is written as the opposite of a music video because the imagery is first and foremost.) I

“ WARHOL vs GARTEL HYP POP “ Exhibition, Lucca Museum, Itali 2017

traveled across the country for two months collecting images in both still and video. Then, I went back to my studio in Florida for another several months to create fourteen tracks of storytelling through imagery using licensed music from Universal Entertainment, whom the video was produced under. At that time, I had custom software written for me, so I was able to create images that no one else could make. In this case, I have my own proprietary software. Photoshop is mostly used as an assembly program to put all the parts together.

“ GARTEL Welcome to Miami “ commission for virgin Miami Rail Station, 2019 Photo Credit: Photography by Sunman LLC FON MAGAZINE / HOLIDAY ISSUE 2020 / FONMagazine.com

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An electric car created by an “electric artist” made the most sense and is the most compatible pairing. Since then, I created over sixty unique art cars for a variety of clients. I would love to create an art boat or an art plane, or even an art helicopter. None of it is out of the question. I enjoy challenges. Who knows? Maybe a spaceship or a rocket in the future? I have worked with NASA for their MMS Launch at Kennedy Space Center, so one never does know!

How do you work with wealthy families through your art?

This is a very interesting question. Most families of wealth and influence, like Vanderbilt, often commission portraits of their likeness for a family member. I think portraits are so popular because they often become something that is passed down through generations.

I have also done a good number of celebrity portraits: Britney Spears, Justin Timberlake, Versace, Don King, and others. Each always looks different and describes their individual personalities.

Often, I would create portraits I call “histographies.” For instance, I was commissioned to create a portrait of the former COO of Bear Stearns. His family sent me a box of his most treasured items: awards, deeds to property, cars, you name it. I did a histography recently whereby the collector had his children

“ Grammy Statue” Commissioned for the 57th Annual Grammy Awards, 2015

Through time I have used dozens of software programs. They often become obsolete when operating systems change and they do not support older program. They seem to fade away.

My first systems were analog turning knobs and buttons, and routing wires from one apparatus into another. The only way to capture an image was to photograph the screen. I made prints from negatives and slides and thus, it gave the art the look of having its own texture. With today’s high-resolution screens, it is not the same effect. “Old looks new,” and thus, that work remains iconic.

Today we have our cell phones, of course, so I take a dozen or two pictures a day as a running record of life events. As an international artist, I do a lot of traveling and meet fabulous people along the way. For instance, I traveled to Milan to have an exhibition and met with art critic and historian, Pierre Restany.

We had a great meal at Bice with master artist, Mimmo Rotella.

Fortunately, I was with my colleague Maurizio Monticelli, who I am sure took the picture, which stands as an iconic remembrance to this day.

Is there an element of art you enjoy working with the most? Why? I do like invention so when I created the very first art car for Elon Musk and Tesla, I found that very rewarding. Nobody had seen anything like it. People often say that artist Alexander Calder created the first art car for BMW—naturally, it was not electric.

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Iconic “ ABSOLUT GARTEL “ ad Commissioned for Absolut Vodka, 1991

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I am also working on a three-volume autobiographical series to publish on my entire life and career. It is a tall order, but few are completely familiar with my entire history. Many know me as “that art car guy” or “the Grammy creator,” and so on. I took a sabbatical from Florida and went to the Blue Ridge Mountains to produce the definitive books. With a career as long as I have had, I have many great works both old and new. “The creative process is forever flowing,” as art historian Pierre Restany eloquently stated.

Laurence Gartel x Shashibo Gartel x Shashibo Artist Collector‘s Pack

gartelshashibo.com

First Digital Art Cover commissioned for Forbes Magazine, 1989

and grandchildren included as well as trips and travels to Israel, etc. He had a very large art collection inclusive of sculptures that I added. His whole “world” was included.

What is next for you in the future?

This time during the pandemic has been a time of reflection but at the same time, most prolific. I have been designing numerous products for companies located in Germany, Sweden, and Switzerland—all of which will be revealed in 2021. The most exciting project, however, are “Art Puzzles,” known as “Shashibo.”

These are better than a Rubik’s cube—with over thirty magnets, you can shapeshift and create unique and different shapes, sculptures, and structures. The cubes can be combined with each other to make the sculpture larger.

I have heard often that playing with these cubes takes away stress and is most calming. In the instance of art, most museums will say, “Do Not Touch.” This object is all about touching thus, giving a tactile approach to art and literally places it in everyone’s hands.

We are coming out with a Limited-Edition Box Set. There are four unique cubes along with a signed Certificate of Authenticity and a numbered box. These are coming out just in time for the holidays, which makes for a great gift of art.

Sunman at SuperCar Weekend holding GARTEL‘S Commissioned cover of Boca‘Magazine 2018

To learn more about Laurence Gartel, review his website: www.gartelmuseum.weebly.com His office can be reached: gartel@aol.com

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A Lifeline for Youth Aging Out of the Foster Care System

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oday’s foster youth, through no fault of their own, face burdens most of us can’t fathom. With little to no support, they must try to chart a course for a successful and productive life. In most states, at age 18, youth in foster care “age out” of the system, and overwhelmingly, are unprepared to face life on their own.

A University of Chicago study on former foster youth, observed that, “For most young people, the transition to adulthood is a gradual process. Many continue to receive financial and emotional support from their parents or other family members well past age 18.” This statement is in stark contrast to youth in foster care, however, as they are too old for the child welfare system but often unprepared to live as independent adults. Foster youth are expected to make it on their own long before the vast majority of their peers.

Youth aging out of foster care are often defined by a past characterized by trauma, tragedy, and broken families. As a consequence, they are often consequently preoccupied with their present and focused on surviving and managing daily obstacles.

There is little time to think about, much less prepare for, the future.

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“For most young people, the transition to adulthood is a gradual process. Many continue to receive financial and emotional support from their parents or other family members well past age 18.”

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Now, imagine you’re part of the foster care system and a helping hand is extended to you—right at this vulnerable moment—a lifeline with the power to alter the course of your life; an opportunity to create a future beyond the chaos and uncertainty of your past. The nsoro Educational Foundation is such a lifeline for youth aging out of the foster care system. nsoro believes no young person aging out of the foster care system should have to navigate the world alone. nsoro offers educational opportunities, a community of support, and most importantly, hope, to some of this generation’s most impressive young adults. Education continues to change the conversation and alter the predictable path, and, in the process, redefine these youth by their resiliency, drive, and most importantly, a future full of possibilities.

“I believe education is the great equalizer. nsoro was created to bring opportunity to foster youth already determined to beat the odds. Every one of these young people deserves a chance at success, to reach their potential and experience the difference an education can make in their lives and their futures,” said Darrell Mays, Founder of the nsoro Educational Foundation.

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Without a powerful disrupting agent propelling these youth towards greater opportunities, we’ll be left with a generation of young people trapped in this cycle—an outcome with deep and ongoing societal costs. When you do intervene at this fortuitous moment, the potential benefit, in real dollars, not to mention the far-reaching ripple effect of countless lives changed, is extraordinary. nsoro is that disruptor.

Consider the cost of inaction: • 50% of emancipated youth experience homelessness by age 20 • 47% unemployment rate of emancipated youth • 78% of the U.S. death row population has, at one-point, experienced foster care *Source: National Foster Youth Institute, https://chlss.org/blog/infographicwhat-happens-when-kids-age-out-of-foster-care/

Mays was inspired to found nsoro in 2005, after viewing the documentary “Aging Out.” The film chronicled the plight of foster-care youth, who, following their 18th birthday, age out of the foster- care system, which ends its formal oversight, and stops providing care.

In America today, more than 26,000 youth age out of the foster care system every year—two children every hour. For so many of them, inadequate resources, limited opportunities, and a history of trauma, tragedy, intergenerational poverty, and inconsistent care create an inescapable legacy that reliably prevents them from becoming independent, self-sustaining young adults.

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For every 1,000 foster youth not incarcerated or in community care, but employed and contributing back to society, an estimated $315 million is saved in government costs and an estimated $473 million could be gained in realized tax revenue over their lifetimes. nsoro’s scholarship program is also unique in providing financial assistance at all levels of a scholar’s education— supporting associate, bachelor’s, master’s and technical degrees.

Beyond scholarship dollars, nsoro offers complete wraparound support for its scholars. While federal and state aid is available for post-secondary education, youth are often unaware of these resources or unsure of how to access these funds. nsoro advocates for these students, connecting them to all available resources and ensuring they are maximally leveraging both private and public financial assistance, such as PELL grants or tuition waivers toward their education. nsoro takes scholars’ financial literacy and preparedness seriously by providing ongoing guidance on money management, planning for the future, and making wise financial choices throughout their educational journey.

Once a student becomes a nsoro scholar, they have access to these resources immediately and throughout their years in school as they make decisions on school selection, course load and work balance, internship opportunities, and other choices critical to

their academic and future career success. This comprehensive assistance not only aids in scholars’ retention but provides a secure and reliable support system for students—often for the first time in their lives. Currently, a nsoro scholar pursuing a bachelor’s degree receives $12,000 on average in scholarship aid over the entire course of their schooling.

As a student ages, financial aid from government sources is reduced, and as a result, many students often struggle to cover their living and housing expenses in their final years of school.

Without nsoro, students must make difficult choices between basic living expenses and entering the workforce early without finishing their degree. nsoro is committed than ever to closing the funding gap for their education and seeks to grow its available scholarships to have the ability and flexibility to meet the financial needs current students face, particularly in the later stages of their education. This ensures they remain focused on completing their degree during a critical time.

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Additionally, as the pool of nsoro graduates increases, the opportunity to fund post-graduate education has grown, and nsoro aims to support these scholars with additional financial investments so they can be leaders in their field. Future plans include a growing investment in students pursuing trade or professional certifications. While this leaves much to be done to invest in all deserving youth, every new scholarship represents a life changed, and as nsoro scholars have said, “opens doors that can’t be closed.”

With support from the United Way, nsoro forged a partnership with the Orange Duffle Bag Initiative in 2019 to launch a mentoring pilot program. 65 current scholars now have access to a dedicated, certified executive coach to provide life and career counseling, as well as education in emotional wellness and financial literacy training. The early results of this pilot have been incredibly positive as students have benefitted from greater access to individualized support, while gaining confidence in their ability to succeed in their education and beyond. As nsoro continues to refine this program and find additional funding sources, its hope is to offer personalized mentorship to all of our scholars.

“Our scholars consistently ask us for more mentorship and coaching as they navigate the complexities of preparing for life during and after school. Research consistently shows mentorship is a crucial determiner of future success for young people at risk of falling behind, and across almost every metric—from staying in college and avoiding risky behaviors to ultimate career success.

With limited staff resources for a growing body of students, we must ensure all our students have access to in-depth, personalized mentorship. Our goal is to create a network of mentors that equips our scholars to stay the course of their education, while optimally positioning them for a strong entrance to the workforce. As we continue to grow, developing our mentorship program through partnerships, volunteers, and service providers is a critical, strategic priority,” Mays said.

For information, contact nsoro Foundation Executive Director Monica Pantoja at 404.524.0807 or mpantoja@nsoro.foundation

RIHEEM, NSORO GRADUATE PICTURED WITH HIS EMPLOYER – BDO, ALTANTA’S MANAGING PARTNERS AT NSORO’S 2020 STARFISH BALL.

Breaking the Cycle…

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iheem Jefferson entered foster care at age 2—passing through countless group and foster homes until age 16. He experienced unspeakable abuse, witnessed constant violence, saw one brother killed in gang activity at 14, and lost another to a 20-year jail sentence—sadly predictable outcomes for far too many youth aging out of foster care. Yet, Riheem’s story has a different ending.

At 16, he found the Carrie Steele-Pitts group home in Atlanta and was introduced to The nsoro Educational Foundation, where he received guidance, mentorship, and a scholarship to Savannah State University. There, he received a degree in Accounting and Business Administration, and is currently employed as a staff auditor at BDO USA, LLP in Atlanta.

“A man is measured by his ability to overcome adversity. But without safety, generosity, guidance, opportunities and unconditional love, it is impossible to overcome adversity. Without nsoro, I would not have known what was possible for me—and what so many take for granted.”

–Riheem Jefferson, nsoro Graduate Courtney, M., Dworsky, A., Lee, J., & Raap, M. (2009) Midwest evaluation of the adult functioning of former foster youth: Outcomes at age 23 and 24. Chicago: Chapin Hall at the University of Chicago FON MAGAZINE / HOLIDAY ISSUE 2020 / FONMagazine.com

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HOW THE STRUCTURES OF FAMILY OFFICES ARE EVOLVING to Meet The Growing Needs of The UHNW

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By Paul & Wes Karger, Co-Founders and Managing Partners of TwinFocus

he COVID-19 pandemic has been a clarion call for many ultra-high-net-worth (UHNW) families, as global uncertainty arising from health concerns and market volatility have accentuated the need for an agile, global total-balance-sheet wealth management solution.

And time spent in quarantine has provided opportunities for families to evaluate the current management and stewardship of their wealth, allowing many to identify gaps and stress points that exist in their overall financial and wealth structuring strategy that may not be capable of adapting as quickly as the world is changing.

Since the 1800s when family offices first began to emerge, they have continued to evolve. What started as the single-family office (SFO) model soon gave birth to a different strategy – the multi-family office (MFO) that allowed certain SFOs to benefit from economies of scale and the power of networks.

Each model certainly has its strengths, but they also have their weaknesses, which has led to a new crossbreed that provides the best of both worlds – the multi-single-family-office (MSFO).

Here’s a primer to help UHNW families decide which family office structure is best for them.

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Single Family Offices: Customizable But Resource-Intensive Single Family Offices have been embraced and adopted by forward-thinking ultra-wealthy families since the Rockefellers pioneered the idea. And there are many benefits – the ultimate being the ability for patriarchs and matriarchs to completely customize their solutions, as well as completely control every aspect and dimension of their family office. This includes absolute control over hiring, firing and partnering, building bespoke areas of focus and team expertise, as well as establishing business processes, critical infrastructure, and investment policies and procedures.

As for disadvantages, running one’s own family office consumes tremendous resources, both in terms of time and money invested, not to mention the stress involved with effectively managing another stand-alone business.

incapacity, or retirement, structural problems start surfacing.

While democratic processes work well for national governments, empirical observations indicate that splitting power across multiple generations and numerous beneficiaries proves very ineffective and dysfunctional in the single-family office setting.

More often than not, disagreements as to how wealth should be invested, distributed, given to philanthropy and spent often lead to large SFOs breaking into smaller, independent structures.

Institutional protections and safeguards can be added to prevent or remedy these family feuds and break-ups (i.e. private trust companies, multi-generational trusts, co-investment vehicles, and other legal/institutional barriers, etc.), but dismantling of the SFOs often becomes inevitable.

Given these inherent challenges, it may introduce additional pressures and burdens in addition to costly inefficiencies. In most instances, ultra-wealthy individuals are extremely busy and pre-occupied with their business and family affairs, which is especially true with entrepreneurs. Running and managing their family office introduces challenges and headaches analogous to operating another business. Decisions on personnel, governance and policy matters to building technical infrastructure require big commitments, and in the end, they may not yield the best and most optimal results to justify the efforts.

Lastly, SFOs tend to work more effectively when under the control of the matriarch and patriarch who built the wealth.

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Another trend among the larger SFOs is starting to create blurred lines and broaden their focus beyond a single family. Successful SFOs have assembled incredibly broad investment teams powered by institutional advisory support systems, platforms, and other intellectual property, facilitating reporting, monitoring, tracking and implementing at faster speeds and lower costs.

With the gilded “2 and 20” model still an industry standard, and exceptional talent and infrastructure in place, the ability for these organizations to scale their infrastructure and boost returns with other peoples’ money has become way too attractive.

There is a bit of irony in the fact that many of the attributes that have fostered the creation of successful SFOs are helping to dissolve that model into a more multi-family approach. And when you add that to the inherent cost and complexities, it becomes clear that the advantages of a SFO that can endure across multiple generations are only worthwhile (and feasible) in a very limited number of circumstances.

Multi-Family Offices: Scalable, To a Fault The multi-family office concept was born because UHNW families need more choices and services as they amass wealth, but in many cases, are not big enough to justify their own, fullyintegrated team and infrastructure. As a remedy, MFOs share resources between multiple wealthy families, while alleviating many of the challenges faced by a SFO. The most obvious benefit of a multi-family office is the ability to share resources – investment (i.e., the power of the network) and

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planning staff and technology being among the most significant.

Not having to build or maintain the infrastructure on their own translates into significant savings in terms of a family’s time and financial resources. Another less obvious, but extremely important advantage of the MFO, is direct and objective advice. The team at a MFO is comprised of independent advisors who do not receive their paycheck directly from the matriarch/patriarch of a family. And as a result, they can feel empowered to provide unbiased opinions and advice.

And this fundamental objectivity is quite often a difficult dynamic for many SFO teams to navigate. While a client’s decisions should always be respected, it is important to ensure that they are always presented with all of the alternatives to allow them to make fully-informed decisions. This is much easier to accomplish with a MFO. While there are many benefits to employing a multifamily office, the needs of UHNW families continue to change. Their lives – and balance sheets – have become more complex and they need a much more robust suite of services capable of matching that complexity without having to fit inside of a box. For example, multi-generational wealth creation and tax efficient transfers are a focus for many UHNW families today. These families need much more than investment management advice; they need to know when and in what proportion to use various legal vehicles to solve their multi-generational objectives and they need a team of investment advisors to build custom investment solutions for each of those objectives. These new demands – especially in today’s changing landscape – require a much more expansive set of skills and expertise.

If MFOs want to compete effectively, they now must employ large teams of professionals with broader ranges of expertise to make them more scalable and attractive to the UHNW. However, this is a double-edged sword where migration away from pure investment management services and expansion into other services comes at the cost of MFO scalability.

As MFOs expand, their ability to put every client’s best interest first may suffer. And when this happens, MFOs often misrepresent the services they provide. When their offerings are spread too thin, they end up focusing primarily on investment solutions, engineering products at the cost of other services that are essential for managing wealth in today’s complex environment.

To maintain margins, they become unrecognizable from the big bank solutions, they lose objectivity and they focus on pushing product with greater margins – a clear conflict. Firms that adopt this mentality move far away from the original intent of the family office that dates to the Rockefellers.

The Multi-Single-Family-Office: A Crossbreed With Dynamic Equilibrium

needs, without requiring exorbitant costs and more importantly, time. They need a model that offers the customizability and personal services of SFOs, with the vast and deep resources of MFOs. The multi-single-family office crossbreed is just as it sounds. It is a family office model that is structured in a way that offers the handson, bespoke approach and depth and breadth of customized SFO offerings, with the scalability associated with a multi-disciplinary MFO. As family needs change, having a MSFO’s comprehensive approach to wealth management expertise (i.e. investment, tax, real estate, estate planning, philanthropic, etc.) all under one roof means that the most comprehensive, conflict-free advice is always available.

Exceptional wealth continues to be created by ultra-wealthy families and individuals. There are numerous options for UHNW families looking to enhance and preserve their wealth, but in today’s complex environment that requires an adaptable, bespoke solution. As such, the multi-single-family-office will define the future of wealth management for the UHNW family.

If the past few months have proven anything, it is that the world is quickly changing. And in this already complex environment where each day is different than the next, UHNW families need an option that is agile, flexible, and adaptable to their individual FON MAGAZINE / HOLIDAY ISSUE 2020 / FONMagazine.com

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PIAGET

POSSESSION NOVELTIES TIMEPIECE AND JEWELRY COLLECTION BY: SARA O’BOYLE

Since its beginnings in 1874, Piaget was

founded on the principles of “métiers d’or and craftsmanship,” or the space where heritage and technique meet passion and creativity, seemingly effortlessly. Behind the curtain,

however, are expert craftsman who devote

their time to individually create the timeless pieces we have seen on generations of the

largest celebrities at the most exclusive events including the Grammy Awards, The Oscars, International Film Festivals, charity galas and the list goes on

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Natural Mother-of-Pearl dial with Row of Diamonds Available in 29mm & 34mm

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Possession Pink Gold Pendant with Paved, Sliding Center Motiff

Possession Pink Gold Earrings with Diamonds There are three ways to wear this unique piece – as studs, drop earring set, or one stud and one drop earring. Dress it up according to your style and event.

The best of both worlds is found in Piaget’s aesthetics – pieces are simple and classic, with a hint of playfulness and versatility.

These factors are highlighted especially in the Possession collection, featured here.

Pinks, blues, and teals light up the fine jewelry, yet the timeless staple of Piaget remains ever so elegantly.

To view the full Possession collection online, visit www.piaget.com/ww-en/ jewelry/possession.

Possession Watch with 2 Rows of Diamonds on the External Turning Ring Available in 29mm

Piaget Polo Watch

Price is available upon request of each item.

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PAINTING THE NEW PICTURE OF FAMILY OFFICE TRAVEL Are Family Offices Ready for Travel?

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s many have experienced, COVID-19 has put a screeching halt to international travel, impacting preplanned holidays and grounding many people hoping to conduct business face-to-face.

Those who were traveling for business or pleasure last spring had to cancel their trips, ultimately leaving travel options between owned properties or opting for more “rustic” alternatives such as camping or “glamping.” The numbers spoke for themselves, as RV rentals saw a massive upswing this summer. The popular booking site, RVshare, reported a 1000% booking surge since the pandemic began.

However, for those who are tired of glamping and stay-cations, the bounce back in luxury travel has already begun.

The Parisian market research agency, Ipsos, has predicted that the affluent will be the first to begin traveling again, despite continuing restrictions and safety precautions. Those with the financial means to do so can navigate complicated travel restrictions and required quarantines while pinpointing travelfriendly destinations that offer socially distanced options suitable for the entire family.

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More surprisingly, the options available for the wealthy have grown and evolved as the pandemic has continued. Travel has been an integral part of their lives, and so, this elite population has been reported to be far more likely to participate in required testing and quarantine measures to make their desire to travel a reality.

One option that has emerged recently is the idea of a “travel pod,” that is, putting together a group of healthy travelers or family members and renting out an entire villa or small hotel. Upon arrival, a whole family or travel pod can effortlessly adhere to required quarantine measures at their exclusive property. There are highly luxurious options with vetted and socially distanced staff, meal preparation preferences, and butlers dedicated to keeping the pod safe and healthy.

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Operators are also seeing an uptick in requests for logistics options for exclusive use, whether it is an entire private locomotive, luxury jet, or large bus suitable for a family’s travel pod. Those with the means to do so are making great efforts to seek out travel options that are more private, secluded, and offer more space to socially distance and avoid the general public.

Maine has emerged as a popular travel destination for those who want to stay domestic but wish to still getaway. The coastal state has maintained its COVID-19 case counts below the 6,000 mark, making it a promising destination for an extended break away from major cities.

While the “Keep Maine Healthy” initiative has implemented a strict 14-day quarantine protocol, some providers are offering luxury villas that would make those 14 days extremely comfortable, with high-speed internet for remote work and spacious and luxurious quarters fit for royalty.

Iceland is another option, as private luxury tours allow families to explore the country’s vast sceneries and stunning hilltops comfortably. This country has one of the lowest case-counts in the entire European Union and has eagerly been awaiting a bounce back for its tourism sector.

Further, this country’s luxury travel options are extensive and can include off-road convoys and satellite internet capabilities while enjoying the northern lights and simultaneously keeping families safe. Iceland has implemented a two-test COVID-19 procedure for all travelers, with a quarantine period that could last just five days.

Since the European Union opened its borders to a shortlist of countries, airlines have offered COVID-19 medical insurance to incentivize travelers despite the ongoing pandemic. While traditional travel insurance plays an important role for many, it might not be enough for the high-asset traveler that is planning a getaway with the entire family.

“During today’s health crisis, we’ve noted quite an uptick in travelers’ stress and confusion,” said Peter Martin, Global CEO of FocusPoint International. “We work to bring science and stability into play and provide travelers with the highest probability of being safe during this pandemic.”

Martin and his team have worked tirelessly during this pandemic to repatriate and return travelers home with CAP™. This travel assistance plan offers response and concierge services for a long list of travel mishaps often overlooked by travel insurance.

CAP™ is a unique travel product that goes far beyond the offerings of traditional travel insurance, speaking directly to the travel needs of the affluent with concierge services and incountry response that can mean the difference between making lasting memories or experiencing a total disaster.

“Wherever someone is in the world, we provide 24/7 access to live medical and security assistance, including emergency response,” Martin added.

“While traditional travel insurance policies may offer coverage for mishaps like lost baggage or canceled flights, they often do not include the costs of specialized travel assistance services used to help you escape danger or evacuate back home if something goes wrong during your trip.”

Martin references the tremendous costs of air ambulance services and how FocusPoint and CAP™ can save travelers hundreds of thousands of dollars if they require such services.

As Martin continues to work alongside the many affluent travelers eager to return to normalcy, he urges those with the means to do so, to plan for anything, and travel fearlessly™ with CAP™. https://www.focuspointintl.com/

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Why Investing Pre-IPO Matters

FACT: Companies are staying private longer — or not going

public at all. Between 1993 and 2000, the average number of yearly IPOs was 451. From 2000 to 2016, it dropped significantly to only 108.1 As more companies are remaining private longer, the best time to get into high-growth deals is not typically occurring at the IPO stage. It’s happening much earlier, in private fundraising rounds. This is the opportunity that venture capital presents accredited individuals and family offices.

Venture capital is the practice of investing in innovative, private companies that are believed to have long-term equity appreciation potential. Many of the most game-changing companies of the last 25 years were venture-backed: Amazon, Uber, Google, Facebook, Twitter, Spotify, etc. These businesses — disruptive category creators — took years to grow from small offices in their founders’ garages to some of the world’s most highly valued companies. Famously, a seed investment in Amazon (1996-97) would have delivered a return of ~70,000x, as of this writing. A $50k investment would now be worth $3.5 billion.

For a case study, let’s take a look at Uber’s valuation over time.

In 2010, the company priced its seed offering at $0.36 per share.

In 2011, it offered Series A shares at $3.70 — a ~10x increase in value in just one year. In each subsequent round, the value of Uber increased, culminating in its 2019 IPO where shares were priced at $45.00 — an increase of ~125x from its seed round share price. That is an outstanding increase — though it happened over a decade, not overnight, with ‘patient capital.’

Venture capital is frequently called a high-risk, high-reward asset class. While this type of investing is not for everyone, it’s an 70

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Comparing a venture return to post-IPO gains in some famous companies, venture returns are more attractive. The bottom line is that if you wait for an IPO to invest in a great new venture, your greatest chances to clean up are likely past.

attractive fit for some investors, especially those who are seeking portfolio diversification. Most family offices see alternative investments or “alts” as an important part of their portfolios, commonly in the form of real estate and angel investing.

Venture capital, while an important asset class, has typically been accessible to only the largest family offices—those managing $500M or more. That’s changing, with a few innovative firms like Alumni Ventures Group making VC investing available to

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smaller family offices and accredited individual investors, as well as wealthier investors who want to go slow into venture.

Here are four key considerations for determining if venture is the right asset class for your family office.

Risk tolerance. Mark Suster of Upfront Ventures has

described performance expectations for his venture fund investments as “1/3, 1/3, 1/3”: one third will fail, one third will return the initial investment, and the remaining third will produce the majority of the fund’s return. Alumni Ventures Group sees a likely successful batting average as even lower, but the general idea holds true. Some companies in your venture portfolio will go to zero, some will return your investment, and a few big winners will be responsible for the vast majority of your gains. Over many time periods, the VC asset class outperforms the S&P.2 But there are winners and losers and modest performers.

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ecosystem at your alma mater? Through targeted venture funds, such as those offered by Alumni Ventures Group, you can achieve these goals while seeking market returns.

The overwhelming shift of startups staying private longer means that many of the greatest opportunities for value creation have moved out of the public markets into the early-stage private markets. Adding VC to your investment strategy can give you the chance to get into high-growth companies in their early stages, ride with them as they potentially build world-changing businesses, and perhaps realize outsized returns over a longer time horizon.

To learn more about how Alumni Ventures Group creates diversified venture portfolios to help family offices and accredited investors achieve their financial goals, please reach out to Familyoffice@AVGFunds.com.

Time. Venture capital is illiquid. Typically VC means committing capital to a long-term investment strategy, as much as 10 years. Over that time, as some investments in your portfolio experience growth, you will see that growth reflected in the value of your portfolio as “paper gains.” However, a liquidity event— IPO, merger/acquisition, direct listing, etc.—is required for your capital and gains to be returned.

Access and capacity. Do you or your family office have

access to high-quality, private startup investments (not just angel deals) AND the capacity to do enough deals to ensure you have sufficient chances for the winners to emerge? If so, then it might make sense to “self-serve.” If not, investing in a venture capital fund with a large, diversified portfolio may be the right approach.

Other important factors. Do you want to contribute and have a front-row seat to innovative technologies that will build the future? Do you want to support visionary founders who are solving some of our toughest technical, market, and societal problems? Is it important to you or your family to invest in social impact causes? Do you want to support the entrepreneurship

1 . https://openviewpartners.com/blog/why-are-we-seeing-fewer-venturecapital-backed-ipos/#.X9p3jOlKhhGnoth 2 . www.industryventures.com/the-venture-capital-risk-and-returnmatrix/ FON MAGAZINE / HOLIDAY ISSUE 2020 / FONMagazine.com

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Member Spotlight:

Sound Affects

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ound Affects is a new cancer-fighting movement that capitalizes on influencers of our popular culture to help raise funds and awareness for promising cancerfighting innovations.

Sound Affects is a 501(c)3 charitable organization dedicated to supporting entrepreneurial biotech initiatives where promising concepts have been advanced to treat cancer, but where lack of critical funding hampers efforts to move potential solutions forward. Our model uses a crowdfunding platform that enables biotech innovators to access a nondilutive raise through charitable donations of crowdfunding supporters, empowering the interested public to directly and transparently support cancer solutions they find personally and intellectually appealing. With its innovative approach and platform, Sound Affects is transforming how we think and finance promising entrepreneurial approaches that bring an array of partners together to fight cancer for the benefit of all.

Sound Affects Model Helps Innovators While Increasing Odds of Success for the Public A major challenge facing any crowdfunding platform is that of “cultivating the crowd that cares.” This is particularly challenging for Sound Affects because the public is largely unfamiliar with the role of biotech in advancing cancer cures to market. Sound Affects intends to improve public 72

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understanding by using outreach mechanisms highlighting the necessity and potential of biotech innovation for winning the war on cancer. Sharing messages across popular culture platforms, makes this a common concern, versus one for scientists or pharma alone.

Sound Affects utilizes music as its principal medium to reach audiences that seek better outcomes for those suffering from cancer. Cross culturally, music has always been an effective expression of cultural norms, values and desires.

Therefore, those who create music have great potential to positively influence beliefs and cultural change. Sound Affects strategically partners with emerging musical artists to help us shift the conversation around the war on cancer, giving people the opportunity to actively participate in the innovation process, rather than rely on others for the arrival of “cures.”

For more information, contact Mona S. Jhaveri: mona@soundaffects.org, Phone: 202-251-2672

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Cannabis and the Impact of

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he cannabis industry was one of the most dynamic and fastest growing sectors of the U.S. economy in 2019, with revenues growing from $9.1 billion in 2018 to $12.4 billion and this momentum has continued into 2020. As the pandemic spread across the world, analysts predicted devastating economic impacts to a swath of industries.

While this uncertainty continues to hang over the global economy, the legal cannabis market in the U.S. is expected to eclipse $17.0B in 2020 and more than double by 2024.

Emerald Park Capital, a leader in cannabis financing, expects the industry’s growth trend to continue as state and local governments will be increasingly committed to providing cannabis to their constituents and desperate to realize the resulting tax revenues.

As evidence, the firm notes that most states have deemed cannabis businesses as “essential,” sales have continued to grow through the pandemic, social distancing guidelines have helped accelerate the issuance of e-commerce regulations, cannabis companies are less susceptible to supply chain risk, and while lawmakers are intensifying their search for additional sources of tax revenues public acceptance continues to grow, as demonstrated by five additional states (Arizona, Mississippi, Montana, New Jersey, South Dakota) passing new cannabis legislation on November 3rd, 2020.

COVID-19’s initial impact on the cannabis market was incredibly positive with sales surging in March as some consumers were “pantry loading” ahead of sheltering mandates. Sales were a bit choppy in the second quarter, but the growth curve has been

trending upward in the second half of the year. This rapid growth can largely be attributed to the appeal of cannabis across almost all demographics, not only for recreational use, but also as it relates to remedies for chronic pain, stress management and sleeping disorders. Overall, the cannabis sector has been resilient in the near term and has been making systemic changes to become stronger over the long term.

Meanwhile, as the cannabis sector has grown, access to capital in the market has been challenging. Given the regulatory framework, businesses need to build a vertical supply chain in each state. The original investment thesis in the sector revolved around hoarding licenses and building capacity. Consequently, this approach required continued access to cheap capital. However, liquidity from the public equity markets has been spotty, and traditional institutional lenders are largely precluded from participating. To survive and thrive, companies have quickly realized that they need to have fully funded business plans and/or clear paths to positive cash flow.

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“Our family has never had those kinds of investment opportunities.”

Private Client Services at BDO With personal wealth, comes financial complexities. With BDO Private Client Services, comes unique opportunities. Not only do we help affluent individuals and families manage day-to-day financial activity, we advise on long-term needs such as estate income, gift taxation, and retirement and life insurance planning.

BDO also offers investment opportunities with some of the world’s most successful private equity firms.

It’s all part of the exceptional range of private client services available from one of the world’s largest and most respected accounting and advisory organizations.

Jeffrey B. Kane National Managing Partner, Private Client Services 616 389 8619 / jkane@bdo.com

Accountants and Advisors

www.bdo.com/FON

© 2019 BDO USA, LLP. All rights reserved.

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Scott Hendon National Private Equity Industry Group Leader 214 665 0750 / shendon@bdo.com

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This strategic shift from breadth to profitability began in late2019, but COVID-19 accelerated rationalization. As the sector continues to bifurcate, healthier companies will fine tune operations, become more capital efficient and focus on cash flow over expansion at any cost. Consolidation will likely accelerate as well. Companies in each state will vie for top five status. To do so, they will need to pick off strategic assets from distressed competitors to bolster their intra-state operations. Overall, these factors present a reasonable arbitrage opportunity in the near term and an attractive, long term value creation opportunity for investors.

“Most domestic institutions are precluded from participating in the cannabis sector, so the majority of capital in the sector comes from Family Offices and High Net Worth investors. But many of the FOs and HNWs have stayed on the sidelines to date. The ones that entered the sector from 2017-2019 may still be reeling from losses in early cannabis investments that soured in the second half of 2019. New regulations such as the SAFE Banking Act could allow traditional institutional investors to participate in cannabis over the next year. Initially, these new entrants would likely dip their toes in the market before providing meaningful competition for established cannabis funds. Even if these traditional institutions start competing and drive down return profiles, cannabis debt funds should be able to lower their cost of capital in lockstep through back leverage on their portfolios,” said Emerald Park Capital’s Managing Partner, Joel Magerman.

Several cannabis funds have emerged over the past few years, but the pool is highly fragmented and performance has been varied.

Funds that invested in ancillary businesses have seen nice growth but will have difficulty getting liquidity as the public markets have not been accepting of their businesses and many logical strategic buyers cannot enter the space yet. Funds that were early investors in plant touching businesses may be underwater or dealing with certain distressed assets. Regardless, very few funds have the scale to lead rounds for the more attractive borrowers or equity investments.

It is also important to note that many capital raises across the sector are with friends and family. This “insider” dynamic creates unique risks when investing unless outsiders can secure sufficient minority consent rights and other protections. Over the next year, HNWs and FOs will need to decide if they want to source their own deals, which has been a trend in non-cannabis private equity, or if they want to rely on or partner with institutional investors dedicated to the sector.

“The cannabis sector in North America will have a total addressable market approaching $100B within the next ten years. Over that time, we expect these businesses to generate average EBITDA margins around 20% and command a standard CPG EBITDA multiple of 15x or greater. This translates to $300B of potential market value in the sector. Today, all of the cannabis companies that service the U.S. and Canada are valued at less than $50B thereby creating the potential for massive value creation. Obviously, certain factors need to change to unlock this value including increased recreational approvals, shrinking of the illicit market, greater access to capital, breaking down liquidity barriers, tax reform and continued consumer adoption.

Given the total addressable market, broad demographic appeal and illiquidity, we believe it is a prudent time for investors to allocate capital to the cannabis sector, with a focus on debt to achieve the best risk adjusted returns,” Magerman said.

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How alternative asset managers and family offices can use IQ-EQ Cosmos to counter

COVID-19 challenges

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he COVID-19 outbreak is changing the way that businesses around the world are operating. How can alternative asset managers and family offices leverage the right technological platforms to weather the crisis?

Before the outbreak, we were seeing LPs and GPs increasingly inclined to use technology to keep abreast of the changes in the regulatory landscape, simplify processes and create efficiencies.

The rationale for using technology is even greater in a postCOVID context where people are working from home, from split sites or on split shifts to help control the virus.

Challenges in a post-COVID context Industry commentators have begun to advise organisations to think past the immediate repercussions and implications of the COVID-19 crisis into how technology can be leveraged to accelerate programs and push priorities that can help position the business to succeed when the downturn ends.

A McKinsey report notes that technology leaders are now starting to think beyond the first wave of crisis management and recommends that organisations invest in capabilities for the ‘new normal’ in the form of more remote work, more online interaction and more automation. It also emphasises expanding the use of technology that supports effective collaboration.

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Meanwhile, a report by PwC recommends that wealth management and asset management firms should re-evaluate their enterprise risk management framework to address the new and enhanced risks that COVID-19 is creating, and suggests that in a situation of extended volatility with uncertainity in the decision-making process, such organisations might need to consider how to reduce costs through new efficiencies in a costoriented environment.

In terms of introducing new process efficiencies, alternative asset managers and family offices could be well served by implementing data visualisation tools such as interactive dashboards that help both the buyer and the seller by providing a single, unified view of data and facilitating personalised simulations with the possibility of setting up automated alerts for capital calls, redemptions, and stock and cash distributions.

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How IQ-EQ can help The launch of IQ-EQ Cosmos, an innovative visualisation tool that allows investors access to real time data across multiple asset classes, comes as a timely solution for family offices and asset managers looking for an efficient technological platform to meet their reporting needs.

IQ-EQ’s cutting edge reporting tool offers up-to-the-minute data partnered with genuine expertise. Key benefits include:

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Single point of truth, accessible anywhere and at any time

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Fully customisable end-to-end solution

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Side-by-side assessment of different asset classes, portfolios, funds and investments

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An online platform that is both user-friendly and secure

Preparing for the ‘next normal’

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Environmental, social and governance (ESG) reporting capabilities

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‘Plug and play’ with no need to buy, implement and dedicate resources to expensive software.

As family offices and alternative asset managers settle into the new normal of a life involving COVID-19, it is important to use the coming months to plan for the ‘next normal’ – a future in a post-coronavirus future where enhanced analytics capabilities and new lenses on risk, with an overarching ESG-focus, will be critical to success.

IQ-EQ’s service offering is unique in the market as a multi-asset solution supported by a dedicated client onboarding team with fund industry experience and knowledge, as well as expert inhouse technical and technological support teams. Family offices and alternative asset managers would be well served to explore the power and potential of this unique offering that seeks to propel their organisations into an exciting new era of investment intelligence.

The only thing currently clear is that, however long it takes, the COVID-19 crisis will eventually end. Whether or not organisations shall endure the crisis depends on how well prepared they are to transition into the digital economy, with a strong operational infrastructure and the right technological tools put into place well before the crisis blows over.

About IQ-EQ IQ-EQ is a leading investor services group that brings together a rare combination of global technical expertise and deep understanding of client needs. We have the ‘know how’ and the ‘know you’ to provide a comprehensive range of compliance, administration, asset and advisory services to fund managers, multinational companies, family offices and private clients operating worldwide.

IQ-EQ employs 3000+ people in 23 jurisdictions across four continents and has assets under administration (AUA) exceeding US$500 billion.

Bas Horsten

Sales & Business Development Director, Caribbean and Latin America, IQ-EQ

E: bas.horsten@iqeq.com T: +599 9 461 12 99 (ext 715) M: +599 9 566 1914

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FON Webinars

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FON Magazine Reader Services Office Address: 307 Evernia Street 3rd Floor West Palm Beach, FL 33401 Phone & Fax: 561-906-1181 Subscriptions: A subscription to FON Magazine includes 4 quarterly issues a year. Email subscription questions, change of address, reprint requests, and back issue requests to info@fonmagazine.com Reader Feedback: Send letters and story ideas to charlotte@fonmagazine.com Advertising: For a copy of our media kit and to discuss advertising rates, contact andrew@fonmagazine.com The information in this issue of FON Magazine is for information purposes only. FON Magazine Inc. assumes no liability or responsibility for any inaccurate, delayed or incomplete information, nor for any actions taken in reliance thereon. The information contained about each individual, company, product or organization has been provided by such individual, company, product or organization without verification by us.

The opinion expressed in each article is the opinion of its author and does not necessarily reflect the opinion of FON Magazine or Family Office Networks. Therefore, FON Magazine and Family Office Networks carry no responsibility for the opinion expressed thereon.

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Connect with

FAMILY OFFICE NETWORKS

A unique collection of different Family Offices located throughout the world

PHOTO CREDIT: PHOTOGRAPHY BY SUNMAN LLC.

We link the financial industry and financial professionals to single family and multi-family office locations. Our unique business concept has been around for centuries, allowing us to perfect wealth management and financial management for extremely wealthy individuals around the globe. The main objective is to maintain and protect families that have large fortunes, trusts and successful family owned businesses. In addition, we offer our members effective and efficient ways to manage family fortunes through specific financial investments and charitable donations, while ensuring confidentiality, risk management consolidation and transparency.

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