FON Magazine - Spring Issue - 2020

Page 1

FA M I LY

O F F I C E

S /

W E A LT H

/

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

/

F I N E

A R T

/

L U X U R Y

/

M AGAZIN E

F O N

L I F E S T Y L E

CAYO ESPANTO

A GENIE NOT IN A BOTTLE

LE PALAIS VENITIEN

A PALACE ON THE HILLS IN CANNES

FAMILY OFFICES & THE PRIVATE JET

REVOLUTION

2 0 2 0

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

1


READY SET

FLY

We are corporate jet leasing, done right.

mintair.io 2

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


ANDREW SCHNEIDER F O U N D E R /

P U B L I S H E R

from

The Publisher

It has been a challenging Spring 2020 from a global health standpoint, yet I am thankful to see so many of our family office members stepping up to help other families, medical professionals and nonprofits that greatly need support.

I

t has been a challenging Spring 2020 from a global health standpoint, yet I am thankful to see so many of our family office members stepping up to help other families, medical professionals and non-profits that greatly need support.

expansion. The challenge families often face when setting up a new family office is determining the right structure and terms, identifying the best service providers, and communicating and reporting to family members.

In my view, during a challenging time, it is apparent that substantial families are tired of paying high fees to outside companies that are not always transparent, articulate and accountable. As a result, many of these families are setting up their own family office to manage their investments, philanthropy, accounting and estate planning issues.

FON’s new recruitment team understands that all family offices are not created equal and that each one is formed with a different vision for the future. These experts also understand the nuances of the different types of family structures and are adept at identifying the right skill sets for the right situation. Equally, if not more important in this sector, is the cultural fit giventhe personal nature of the families’ holdings and in many cases the size, scope, and number of family members being served by the office. The team has worked with family offices of all sizes, from startup to very mature operations, including single- and multi-generational operations.

To meet increased demand from the large number of wealthy families who seek customized support to launch a new family office, we are pleased to have access to trusted advisors who provide counsel on staffing, back office set-up and structure. Typical services include advice related to service provider selection, staffing, private deal support, philanthropy, succession planning, financial planning, and governance. There’s a clear trend as evidenced by the fast-growing number of family offices worldwide which is estimated to have increased 500 percent in the past few years alone. There are 12,000-15,000 global family offices today which is an incredible

We’re excited to partner with a highly qualified team of family office recruiting experts as a way to meet the growing needs of the families within our organization. Everyone involved has deep breadth and depth of family office recruitment experience and the number of successful case study examples is impressive to say the least.

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

3


CHARLOTTE LUER E D I T O R - I N - C H I E F

from

The Editor in Chief

Whatever your passion, spring is a perfect time to enjoy a breath of fresh air

4

A

s famed writer Margaret Atwood is often quoted as saying, “In the spring, at the end of the day, you should smell like dirt.” For those living in cold climates, spring means warmer temperatures, flowers blooming, people enjoying the outdoors, and an opportunity to get outside. Those of us who live in warmer regions also should pay attention to the emergence of spring as a great reason to venture into the outdoors. Whatever your passion, spring is a perfect time to enjoy a breath of fresh air. In this issue of Family Office Networks Magazine, we take a look at many of the outdoor activities that our members enjoy – polo, horse racing, strolling through new cities, European vacations and fine dining. There’s something for everyone to dream about.

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

We’re pleased to launch a series of new Family Office Associations throughout the United States in the past few months and welcome our new members. Please get in touch and send along your ideas for future magazine articles. We’d love to hear from you.

Charlotte Luer Editor-in-Chief charlotte@fonmagazine.com +1.239.404.6785


SUREJ (SUNMAN) KALATHIL A

R

T

D

I

R

E

C

T

O

R

from

The Art Director

I’m hard at work on a new Surrealistic Photo Art series that will be included in our Summer issue. Stay tuned!

I

t has been a great pleasure to work with Family Office Networks this past year to debut our new Luxury Magazine. I’m thrilled that it has been so well received and enjoyed seeing so many people enjoying reading it at our many events. Springtime in Palm Beach is Polo Season and there’s no better time of year to visit this legendary destination on Florida’s East Coast. While there’s no shortage of things to do in Palm Beach, polo is a highlight that’s not to be missed. We’ve had a great time at Polo recently and it has been a blast taking photos of our family office members enjoying sunny days filled with horses, quality networking and good cheer.

At present, I’m hard at work on a new Surrealistic Photo Art series that will be included in our summer issue. Stay tuned! Once again, many thanks for all of the kind words and favorable comments on the magazine’s design.

Surej ( Sunman) Kalathil Art Director surej@fonmagazine.com +1.561.827.9072

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

5


Luxury custom suits, shoes and bags handcrafted in Spain!

6

www.pinandstripe.com

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


Editorial FOUNDER /PUBLISHER Andrew Schneider 561.906.1181 andrew@fonmagazine.com EDITOR-IN-CHIEF Charlotte Luer 239.404.6785 charlotte@fonmagazine.com ART DIRECTOR Surej Kalathil (Sunman) 561.827.9072 surej@fonmagazine.com

Content FAMI LY

OFFICE

/ WEALT H

/

PH IL AN TH R OPY

8

FA M I LY O F F I C ES & T H E P R I VAT E J E T R E VO LU T I O N

16

CAYO ES PA N TO A G E N I E N OT I N A B OT T LE

22

P E R F ECT P R O D U CT S FO R PA M P E R E D P E T S

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.

FIN E

45

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.

/

48 52

24 32 36 40

AR T

SPRING ISSUE /

LUX URY

/

LIFEST YLE

T H E C H A LLE N G ES OF E X PA N D I N G YO UR FA M ILY OFFICE F A M I LY O F F I C E P R O F I L E SEAN KOH T H E K E N T U C K Y DERBYA C E LE B RAT I O N OF S O U T H E R N C U LTURE & T RA D I T I O N LI K E NO OTHER

FA M I LY LES S O N S F R O M H B O ‘S S U CC ES S I O N N E W M C LA R E N 6 2 0 R S E T S T H E PAC E T H E K I D S CA N C E R FO U N DAT I O N D E D I CAT E D TO O U R LI T T LE WA R R I O R S TH E R E I M AG I N AT I O N O F N E W YO R K ‘S M O M A

54

LA PA LA I S V E N I TIENA PA LAC E O N T HE HILL I N CA N N ES

FON MAGAZINE MAGAZINE // SPRING SPRING ISSUE ISSUE 2020 2020 // FONMagazine.com FONMagazine.com FON

77


C

O

V

E

R

S

T

O

R

Y

Family Offices & The Private Jet

REVOLUTION

88

FON MAGAZINE MAGAZINE // SPRING SPRING ISSUE ISSUE 2020 2020 // FONMagazine.com FONMagazine.com FON


C

O

V

E

R

S

T

O

R

Y

F

amily office demand for private jet travel is higher than ever it has ever been. For years, factors such as airport congestion, poor airline service and lack of flexibility have led to a resurgence in private aviation. Now, with coronavirus fears fueling the demand for private jet aviation, carriers in the $10 billion+ industry are at 150%+ occupancy as family offices and others seek solutions for safe travel. Family Office Networks provides unparalleled access to private aviation companies, including member rates and priority to access flights as well as investment opportunities.

FON MAGAZINE MAGAZINE // SPRING SPRING ISSUE ISSUE 2020 2020 // FONMagazine.com FONMagazine.com FON

99


C

O

V

E

R

When deciding on the optimal private jet solution for your family, it’s important to understand the options. First, a good rule of thumb for deciding between plane ownership vs. fractional ownership vs. jet card vs. aircraft charter is to figure out the number of hours your family spends flying per year. Here is a general rule of thumb: •

1 to 150 hours – Charter/jet card service is ideal

150-300 hours – Fractional jet ownership relieves you of the hassles associated with owning a plane

300+ hours – Full plane ownership is your friend

10

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

S

T

O

R

Y


C

O

V

E

R

S

T

O

R

Y

Next, identify your reasons for wanting to fly private. If you’re seeking to reduce the stress of traveling - whether for business or pleasure - advantages of private aircraft ownership include flexibility, safety, security, comfort, timeliness, cleanliness, and includes tax benefits, such as depreciation. If you prefer not to deal with the operational complexities and overhead required of owning a plane, you may want to opt for fractional jet ownership where crews and pilots are provided, operation and maintenance are taken care of, and flight operations are as simple as picking up a phone and providing the flight departure and destination cities to the managing company.

“VeriJet is the culmination of a decades long journey to increase the effective speed door to door, reduce carbon and noise footprint and open private aviation to more people, thus unlocking the fourth wave of high-speed travel.” RICHARD KANE Founder & CEO VeriJet

Families who prefer to start with minimal investment should consider a prepaid card, bought in 25-hour increments, that is redeemed to book a flight with as little as 24-hour notice. This is a cost-effective way to experience safe and luxurious private jet travel and is ideal for those wanting to experience private jet travel on a smaller scale. Another option is a charter jet and there are a variety of advantages for busy professionals to travel to multiple locations and still have the flexibility to return on the same day and sleep in your own bed.

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

11


C

O

V

E

R

S

T

O

R

Y

“We help family offices who require specialized

aircraft consultation when buying a new plane or selling their existing aircraft. There’s a growing need for this specialized knowledge and insights when family offices and flight departments invest in private aircraft as families do not always have the knowledge and system expertise that professional aviation companies have developed to manage the risks associated with private aviation activities. We help our customers make educated decisions.” Mark Connell Owner East Coast Jet Center

PHOTO CREDITS : EAST COAST JET CENTER

12

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


C

O

V

E

R

S

T

O

R

Y

PHOTO CREDITS : EAST COAST JET CENTER

Importantly, there are many tax advantages of private jet ownership and experts report that some family offices are not utilizing all eligible deductions simply because they are unaware. For example, operating costs are deductible, and there is Modified Accelerated Cost Recovery System (MACRS) Depreciation, and individual ownership can be a deduction if it is used for business reasons. There’s even a possibility of writing off 100% of the purchase price (bonus depreciation). Always make sure to consult with a professional prior to making such an investment. One of the companies on Family Office Networks radar is East Coast Jet Center in South Florida, a private jet broker specializing in aircraft acquisitions, sales, avionics modifications management, comprehensive technical representation, aircraft maintenance management, import & export, and aircraft completions management for the family office industry. “We help family offices who require specialized aircraft consultation when buying a new plane, leasing or selling their existing aircraft. There’s a growing need for this specialized knowledge and insights when family offices and flight departments invest in private aircraft as families do not always have the knowledge and system expertise that professional aviation companies have developed to FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

13


Your legacy is the impact that your philanthropy achieves

Our global portfolio of carefully vetted nonprofits lets you harness the power of innovation to fight social injustices.

OUR SERVICES ARE 100% FREE MYLEGACY@EPIC.FOUNDATION

SAN FRANCISCO | NEW YORK | LONDON | PARIS | BRUSSELS | GENEVA 14

Epic Foundation is a 501(c)(3) nonprofit charity in the United States, a Registered Charity #1163753 in the United Kingdom, an Endowment Fund in France, and a Foundation in Switzerland.

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


C

O

V

E

R

S

T

O

R

Y

P H OT O C RE D IT S : V ER IJET H O L D ING C OM PA NY ,L L C

manage the risks associated with private aviation activities. We help our customers make educated decisions,” said Owner Mark Connell. Family Office Networks also works with a leading environmentally friendly offering called VeriJet that is doing its part to reduce the carbon footprint by operating a radically efficient new jet design saving one ton of CO2 per flight segment as compared to other light jets that burn 2-3x the amount of fuel. The company focuses on the short haul charter travel market, as defined by trips of 600 or less nautical miles, which represents a $7.5 billion opportunity as measured by fight hours. It has the right equipment for the mission with unmatched convenience, efficiency and price point. Further, Verijet will be rolling out biodiesel options with aircraft that are already approved to fly on four types of biodiesel. “We‘re seeing an influx of travelers who need to travel but wish to bypass the contagions and inconveniences of the per seat or hub and spoke models. Business travelers who need to make quick trips from South Florida to Atlanta or Tallahassee and return same day as well as families seeking safe passage are best served by private travel. In today’s era of uncertainty, we’re well-positioned to help people and their pets get to their destinations faster, more safely and more cost effectively, while minimizing the carbon footprint,” said VeriJet CEO Richard Kane. “Importantly, we utilize the same UV-sterilization equipment used in ambulances whereby a box inside the jet sterilizes the plane to a medical level between flights and the entire plane is dedicated exclusively to your party. Safe, convenient, on demand travel.” VeriJet will be operating on an industry proven AI routing platform – ensuring profitable, efficient use of its aircraft

with dependable and scalable sources of demand. VeriJet’s jet aircraft have a unique Safe Return capability that can auto land the jet without pilot assistance. VeriJet’s entire fleet has in integrated whole airframe parachute system in case of true emergency, and state of the art safety features unavailable with any other leading private jet carrier. In keeping with the company’s commitment to social responsibility, Verijet supports programs such as EAA Young Eagles, Girl Venture, Women’s Air Race Classic, STEM, Aviation Merit Badges, and PBC Aviation Programs with the intent of making more pilots and giving kids choices. Verijet will donate empty legs to move an animal for adoption (Pilots and Paws) or a service dog for placement (New Horizons) or an honor flight for a serviceman. VeriJet’s goal is to have no fewer than 20 percent female pilots, three times the industry average. Importantly, Richard Kane serves on the board of the Lindbergh Foundation – pursuing a global program of radical decarbonization and noise reduction in aviation while showcasing breakthrough innovation. Erik Lindbergh serves on VeriJet’s board. “Our advantage is four times the door to door speed, onethird of the carbon footprint, unprecedented safety and a fraction of the cost of typical charter,” Kane said.

VeriJet Holding Company,LLC 5030 Champion Blvd, PMB 183-G6 Boca Raton, FL 33496 561 239 706

East Coast Jet Center, Inc. 5525 N.W. 15th Avenue, Suite 301B Ft. Lauderdale, Florida 33309 954 703 1600

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

15


F

O

N

T

R

A

V

E

L

CAYO ESPANTO ESPANTO A Genie Not In a Bottle BY VICTORIA L. HOFFMAN

I

t’s true that genies do exist to fulfill “your wish is my command” especially at this tiny yet very exclusive and privileged island of Cayo Espanto. Touted as one of the world’s top private luxury islands where indulgences are met with enthusiasm and expectations are left breathless with supreme beauty and pure delight, this small paradise is located off the northern coast of Belize. Only a fifteen minute boat ride or seven minute flight by helicopter from John Greif II Airport in San Pedro - but who’s counting - the property is going on its 21st year of heavenly existence.

16

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


F

O

N

T

R

A

V

E

L

It’s true that genies do exist to fulfill “your wish is my command” especially at this tiny yet very exclusive and privileged island of Cayo Espanto.

Founded by the entrepreneur-turned-film-and-TV- producer Jeff Gram, the island once upon a time was empty except for the vision of this genie who used Belize as his medicinal cure while recovering from a personal injury. It’s clear that Gram fell in love with Belize and its lush tropical rainforests, Mayan ruins, and magical sandy white beaches which he turned into his spa oasis. When a real estate opportunity was presented to him, he assembled a team of architects and surveyors and decided this would be a home away from a home – a place for his friends and family to enjoy.

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

17


F

O

N

T

A destination of barefoot elegance, the property accommodates up to 18 guests. When guests arrive they are promptly greeted by their own designated butler. Each villa has a private dock and beach area. Perhaps one of the most unique features of Cayo Espanto is knowing that there are no plans to expand past its seven uniquely designed villas – one of which is an overwater villa with a glass floor to view the marine life below. Most of the villas have their own plunge pool along with outdoor showers. Though the accommodations are immersed in natural beauty, guests can expect to find the best in modern luxury including Egyptian linens and state-of-the-art in-room technology ranging from iPad and Wi-Fi to air-conditioning. The décor of each villa has a simple, elegant design. Expect crisp, clean white colors with wooden flooring and furniture to best complement the lush tropical landscape and surrounding blue waters. The bedrooms each have a kingsized bed and there is the option to have two twin-sized beds for guests that travel in groups and families. 18

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

R

A

V

E

L


F

O

N

T

R

A

V

E

L

An unusual feature of the island is its lack of restaurants, but don’t worry. The island is designed to allow each guest to truly experience intimacy without interacting with other guests, unless of course, they want a communal dining experience which is rare. The goal for Chef Patrick, a man who was trained in international cuisine, is to prepare anything you want and I do mean anything – and then send your freshly prepared cuisine to your villa or dock for your private dining pleasure at any time. Want black truffle which is rarely in season and hard to find? Chef Patrick will scour the world and prepare it for your meal. Only want a vegan dish? No problem. Enjoy an old vintage of Dom Perignon or sip a nice red like Chateau La Nerthe while watching the sun set from your private dock. For those who like sports activities there’s plenty to do. Want to fish or dive the famous Great Blue Hole? Your yacht awaits! The Great Blue Hole is a true destination that many divers have on their bucket list as it’s known for its vast aquarium of marine life including spectacular corals and tropical fish. Another alluring site to explore is the second largest coral reef system in the world called Hol Chan Shark Ray Alley. And for those who wish to be more mellow, guests have the option to kayak and paddleboard. For workout junkies, snap your fingers and ask for a Peloton or treadmill. It will appear in your villa.

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

19


I N T RO D U C I N G O U T E AST 20 1 8 C ÔT ES D E P ROV EN C E RO S É @outeastlife www.out-east.com 20

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


F

O

N

T

R

A

V

E

L

And in case you want a day away from this haven of perfection take a trip to shop at the San Pedro market, explore the ancient civilization of the Mayans, or trek through the jungle to view the wildlife. It’s no wonder that socialites, CEOs, and well-known public figures like Bill Gates, Jennifer Lawrence, and Leonardo DiCaprio are frequent guests of this very special place. In fact, DiCaprio and Gram are partners on a new eco-friendly resort slated to be called Blackadore Caye, a 104-acre island, also in Belize. Travel tip: avoid the rain season June-August. For more information visit www.aprivateisland.com. About the author: Victoria L. Hoffman is the owner of the luxury agency Concierge & Events by Victoria that provides one-of-a-kind WOW experiences, luxury Virtuoso travel programs, and event planning.

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

21


F

O

N

P

R

O

D

U

C

T

S

PERFECT PRODUCTS For Pampered Pets

BY CHARLOTTE LUER PHOTO CREDIT: PHOTOGRAPHY BY SUNMAN LLC

FAMILY OFFICE NETWORK‘S MASCOT, SUKI

22

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


F

O

N

P

Pet owners spent an estimated $75 billion+ last year and for many discriminating pet owners, the sky’s the limit when it comes to their furry friend’s health and happiness

R

O

D

U

C

T

S

P

et owners spent an estimated $75 billion+ last year and for many discriminating pet owners, the sky’s the limit when it comes to their furry friend’s health and happiness. Leading the way for today’s new wave of dog and cat products geared to pet parents is an impressive array of pet accessories. Bibi’s Boutique on Worth Avenue in Palm Beach specializes in custom canine couture, including lovely, upscale collars and leashes made of classic ostrich in beautiful pastel colors. Most collars can be embellished with an engraved silver or brass nameplate. Safe and comfortable pet carriers and travel bags are fashioned from handsome cotton canvas that includes mesh on both sides for air, and front pockets designed to store phone and other personal accessories. Books, toys, beds, bowls, clothing are also available and custom pet portraits are offered. Family Office Networks’ mascot, Suki, enjoyed his afternoon on Worth Avenue and even made a few new friends during his first-ever photo shoot.

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

23


Family Lessons from

HBO’s Succession

H

BO’s award-winning drama series Succession about the inner workings of the uber wealthy Roy family has captured the attention of the family office community which is abuzz with talk about the characters and their complex relationships. Although flawed on many levels, each of the family members featured on Succession are relatable and serve as friendly reminders that every family has its challenges.

“A lot of research went into Succession. We thought of famous media families like the Hearsts, to modern-day Redstone, John Malone, Robert Fitz of Comcast, Murdoch, and Robert and Rebekah Mercer, who founded Breitbart. Lots of real-life moguls. We collected a myriad of these kinds of relationships that we knew about,” said Creator and Executive Producer Jesse Armstrong. “A basic premise of the show is that trust affects the relationships between Succession‘s characters in many ways. “Everyone has tacit levels of trust, don‘t we? In every interaction that takes place in our professional and personal lives we have boundaries that we sort of trust the other person not to breach. In a family, they‘re particularly wonky boundaries. There‘s an underlying sense that your family should accord you a greater level of safety in your interactions with them. When that‘s violated, it‘s particularly brutalizing,” said Armstrong. Here’s a look at several of the lessons that families can take-away: 24 24

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

The Patriarch Has Power Logan Roy, played by Brian Cox, is the founder of Succession’s fictional media conglomerate Waystar Royco. As the family’s revered patriarch, he becomes more protective than ever of the family and his company as he grows older and his health declines. Although he has made his share of bad decisions through the years, his power remains intact. Don‘t count out an aging patriarch as they may not be done manipulating and leading their kingdom. Beware the Betrayer Kendall Roy, played by Jeremy Strong, is the second-oldest Roy son. As the expected take-over heir of Waystar upon Logan’s retirement, his position isn’t fully solidified as he doesn’t have dad’s full trust. A hostile attempt to secure power, a tragic accident, and betrayals prove that it’s not always clear who can be trusted. Personal Aspirations Often Distance Family Members Siobhan “Shiv” Roy, played by Sarah Snook, is the youngest child in the Roy family. She has natural leadership instincts, but initially preferred to get into politics instead of the family business. Nothing in life is certain, however, and as is the case in many families, some of those who pursue outside careers return in time to the family business. And that’s okay.


The Family Troublemaker May Not Be So Bad After All Roman Roy, played by Kieran Culkin, is Logan’s son. Often cocky, obnoxious, immature and loud, he exhibits an oddly strong personality that his father admires. His personality often has proven a deterrent to his leadership status, however. Or has it? You never know who in the family might eventually emerge on top. Some Family Members Just Don’t Care Connor Roy, played by Alan Ruck, is Logan’s eldest son from his first marriage. He is decidedly uninterested in the company’s internal politics and disagreements and is happily ensconced on his ranch -- until he decides to run for president and all bets are off. First, Second, Third Wives (and Husbands) Have Unique Challenges Marcia Roy, played by Hiam Abbass, is Logan’s devoted third wife but she’s unappreciated by his children and doesn’t get the respect she probably deserves. That’s a reality in many families impacted by the challenges of divorce and remarriage. Some Family Members Just Try Too Hard Tom Wambsgans, played by Matthew MacFadyen, is Roy daughter Shiv’s partner. He is obsessed with fitting into his wife’s prestigious and powerful family business but his desperation to engrain himself is embarrassing and often odd.

Be Careful What You Wish For Greg Hirsch, played by Nicholas Braun, is a wayward great-nephew forced to move to New York in search of a job at Waystar as a somewhat last resort. His journey proves that “all that is gold does not glitter.”

“One of television’s best dramas, a searing, funny and painfully true look at wealth, power and family.” ~ Hollywood Reporter

“Its second season feels even more relevant”

~ Vanity Fair

“Returns in top form...an excellent story for a troubling moment in history.”

~ Roger Ebert

Golden Globes - 2 WINS Including Best Drama Series and Actor, Drama Series (Brian Cox). Emmys- 2 WINS Including Outstanding Writing for a Drama Series and Main Title Theme Music. FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

25 25


F

O

N

C

A

R

S

ASTON MARTIN’S DBS SUPERLEGGERA IS ITS FASTEST TO DATE PHOTO CREDIT: NAPLES LUXURY IMPORTS

A

ston Martin’s DBS Superleggera is billed as a Super GT that’s a breed apart for good reason. It’s super-fast with a top speed of 211 mph and its carbon fiber body panels epitomize muscular, highly individual styling. Impressively, Aston Martin’s 5.2-litre twin-turbo V12 produces tremendous power and immense torque for breath-taking response and extraordinary in-gear performance. With 725PS, 900Nm of torque and blistering acceleration that dispatches 0-62mph in just 3.4 seconds and 0-100mph in 6.4 seconds, DBS Superleggera is a car dedicated to delivering an unforgettable driving experience and classleading in-gear acceleration, with 50-100mph achieved in fourth gear in a mere 4.2 seconds.

“DBS Superleggera not only marks the return of a great Aston Martin name, but signals our return to the very pinnacle of the Super GT sector. Handsome beyond measure, its lightweight carbon composite and aluminum body is sculpted into a shape with tremendous presence and charisma. Thanks to the remarkable torque available from its twin-turbo V12, DBS Superleggera also packs a breathtaking punch, yet its dynamics have been carefully honed to engage drivers of all ability levels. Immaculately styled, obsessively engineered and outrageously potent, the new DBS Superleggera is every inch the Aston Martin flagship,” said Aston Martin President & Chief Executive Officer Dr. Andy Palmer. While being resolutely modern in design and engineering, DBS Superleggera proudly evokes the towering reputations of Aston Martin’s hardest hitting and best-loved flagships 26 26

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

“DBS Superleggera not only marks the return of a great Aston Martin name, but signals our return to the very pinnacle of the Super GT sector.”

from the past. Combining generous proportions with aggression and athleticism, DBS Superleggera expresses itself with explicit design and combines compelling curves with advanced aerodynamics. DBS Superleggera generates 180kg of downforce at VMAX: the highest figure ever for a series production Aston Martin. This significant increase comes with no additional drag penalty. The DBS Superleggera’s high performance engine is set low and far back in the chassis so as to optimize the centerof-gravity and weight distribution. It develops 725PS at 6500rpm and 900Nm from 1800-5000rpm. Detailed tuning of the V12 together with a new exhaust strategy with active valves and quad tail pipes ensures DBS Superleggera has a commanding and powerful sound character, particularly in the more aggressive dynamic modes, while retaining a level of refinement and civility that complements its role as the consummate Super GT.


F

O

N

DBS Superleggera deploys its prodigious power and torque to the rear wheels via a new rear-mounted ZF eight-speed automatic transmission. Featuring a mechanical limited-slip differential and torque vectoring for precise, predictable and exploitable handling and a lower final drive for explosive in-gear acceleration, DBS Superleggera combines the responses of a supercar with the refinement of a GT, with the capability of a maximum speed of 211mph. The chassis is an evolution of the latest generation lightweight bonded aluminum structure first seen on the DB11, with forged double wishbones at the front and a sophisticated multi-link system at the rear. Latest generation adaptive damping is fitted as standard, with sensors detecting the prevailing driving conditions, as well as the demands the driver is making of the car. Both the powertrain and chassis have a choice of three dynamic modes – GT, Sport and Sport Plus - which can be selected by the driver to intensify

C

A

R

S

or relax DBS Superleggera’s responses according to the needs of the driver. DBS Superleggera features a generous level of standard equipment, including keyless entry, tire pressure monitoring system and a 360-degree camera with Parking Distance Display and Park Assist. The audio system has DAB plus Bluetooth audio and phone streaming, iPod, iPhone and USB playback. There is also an integrated satellite navigation system and wi-fi hub. All the in-car infotainment systems use a central LCD screen, controlled via a central dial.

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

27 27


This Family of Wines is All you Need for Spring Sipping Brought to you by licensed winery, Winc, this vibrant trio is crisp, refreshing, and here for your year-round enjoyment.

2288

FON MAGAZINE MAGAZINE // SPRING SPRING ISSUE ISSUE 2020 2020 // FONMagazine.com FONMagazine.com FON


Summer Water is a dominant player within an established and consistently growing category, differentiated by its cultural relevance, meticulous winemaking, and high quality-to-price ratio.The Provence-style, California rosé has recently expanded with the development of two brand extensions, Keep It Chill and Summer Water Bubbly.

Please tell us about your background.

S U MM E R

WAT E R

Summer Water is more than the rosé of the season, it’s a state of mind. Perfectly crisp and destined for a good time, this Central Coast Grenache and Syrah blend is synonymous with the light-hearted spirit of summertime. Summer Water has developed a cult following among influencers and casual drinkers alike and is available through Winc‘s subscription service and in premium retailers and restaurants nationwide. Summer Water was initially launched and tested through Winc membership in 2015 prior to the start of the pink drink craze. The brand now has a lifetime revenue of $12.3M and experienced a revenue CAGR of 1221% between 2015 and 2018 alone. Summer Water made $4mm in revenue in 2018, representing 38% YoY growth.

I have over fifteen years of experience in hospitality, including building and financing high-end bars and restaurants. From my experience, I’ve learned that the authentic connection between the customer, brand, and product is the key to success in a consumer-driven world. I co-founded Winc after seeing how disconnected consumers were from the winemaking and wine selling process. Since we launched in 2011, we’ve been able to establish a data-driven and customer-oriented approach that is unique within our industry. Please tell us about any special areas of interest outside of Winc.

I love music, meditation, skiing and traveling. What have been your best (and worst) business moves to date?

I definitely made some initial mistakes when I was working in hospitality in my early 20s during the financial crisis, but it was those mistakes that taught me how to remain equanimous and steadfast in the most challenging of business environments. FON MAGAZINE MAGAZINE // SPRING SPRING ISSUE ISSUE 2020 2020 // FONMagazine.com FONMagazine.com FON

29 29


We take an objective, data-driven approach to simplify and optimize complex financial landscapes.

Contact us to receive a complimentary tax diagnostic today! Providing answers to questions like: What do I have? We collect, anonymize and plot key data points to get a clear snapshot of the current financial picture. How does that compare to others? We anonymously benchmark data points against similar profiles to provide context and relevancy. Where can I improve? Our reporting highlights key takeaways and points of interest to consider. WEALTHMETRX 30

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

www.wealthmetrx.com info@wealthmetrx.com (858) 371-4900


Recognizing a white space for wine in a burgeoning digital market and bringing the idea of Winc to fruition were my best business moves to date. I remember sitting on a bench at Scribe Winery with my partner and Winc’s COO, Brian Smith, when we decided we were going to start making our own wine brands. Fast forward four (intense) years later, and we are producing over 250,000 cases. I’m also very proud of how Winc’s leadership has invested in mentorship and team building. I think that is always a smart business move. How do you work with family offices?

KE EP

IT

CHIL L

Confined mainly to natural wine bars and European bistros, the chillable red wine is a concept that hasn’t been widely explored or adopted in the U.S. Bottling ahead of the curve, this wine was crafted specifically with the chilled wine drinking experience in mind. This wine’s bright and brambly flavors really pop when the temperature drops.

S U M M E R WAT E R

The wine business is something that appeals to a broad scope of people. We’ve had a mix of investors to date, from prominent VC investors to support from our members and friends. Future goals – personal and business?

My business goal would be to grow Winc into a top 10 winery within the next 10 years. Personally, to ski and travel more with my family. Quotes you live by?

Winc’s willingness and ability to re-evaluate its processes often and apply change quickly and efficiently is unique within the wine industry, which is highly entrenched and can be extremely difficult to change. Our victories can all be traced back to our team’s penchant for challenging the status quo. One quote by David Maxfield that we love as a leadership team is: “The key is to recognize the hidden influences that are supporting the status quo, and to enlist a critical mass of new influences in support of the change.”

B U B B LY

Summer Water continues to redefine the rosé lifestyle with its bubbly sidekick. Unlike any Summer Water you’ve tasted before, this wine is just as crisp and delicious as the original, but with a celebratory twist. Summer Water Bubbly is Winc’s highest rated wine by members to date.

FON MAGAZINE MAGAZINE // SPRING SPRING ISSUE ISSUE 2020 2020 // FONMagazine.com FONMagazine.com FON

31 31


F

O

N

C

A

R

S

NEW MCLAREN 620R Sets The Pace

M

cLaren’s new 620R is a limited edition, superlight coupe designed to provide an authentic motorsport driving sensation in a fully road-legal package. Just 350 will be built so you’ll need to act fast in order to own one of these coveted sports cars. “The McLaren 570S GT4 is a first-class GT race car that having won races in every championship it has competed in since its first appearance in 2017 is attracting an increasing number of customer racing teams. Now, in response to repeated customer requests, we have homologated that class-leading package for the road in the new McLaren 620R, a limited-edition, 620PS superlight coupé that is the perfect choice for an enthusiast wanting an authentic motorsport driving sensation – and performance to match – on both track and road,” said Mike Flewitt, Chief Executive Officer, McLaren Automotive. 32

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

Indeed, the McLaren 620R provides an unsurpassed motorsport experience. It looks, feels and handles like a race car yet is able to effortlessly transition from race to road as a fully homologated track car that is free from the restrictions that race regulations apply. The 620R has the same M838TE 3.8-litre twin-turbocharged V8 engine used in the GT4 car, but with a significant difference in power output. The engine can achieve 610bhp, making this the most powerful sports series car ever with a maximum speed of 200mph. Dampers help to bring weight down overall so that it’s more than 13lbs lighter than the regular sports series units. The suspension features lightweight aluminum wishbones and uprights and stiffer anti-roll bars. Stopping power comes from McLaren’s latest lightweight braking system and braking performance is extremely impressive on the road. The 620R runs as standard with Pirelli P Zero Trofeo R semi-slick tires, but drivers who swap to the


F

The McLaren 570S GT4 is a first-class GT race car that having won races in every championship it has competed in since its first appearance in 2017

O

N

C

A

R

S

optional, full-slick motorsport tires will experience a whole new level of braking. Impressively, the car’s aerodynamic performance elevates it to the status of a road legal GT4 racer. The adjustable carbon fibre rear wing is the same component fitted to the 570S GT4. Raised 12.5in into the cleaner airflow above the vehicle to increase downforce while minimizing drag, the wing is road legal thanks to its newly incorporated third brake light. Customers receive their cars with the wing set to the least aggressive of its three available angles, optimizing front/rear balance for road driving. The more aggressive angles – which can be set by a McLaren retailer – increase rear downforce still further, contributing to a maximum of 408lbs and enabling even quicker circuit-running. While the rear wing quite literally stands out as an obvious distinguishing feature on the 620R, it is not the only component adapted from the GT4’s aggressive track specification to meet road homologation standards. The front bumper, splitter and bonnet have been redesigned – the splitter retaining pronounced aero blades and cut-out – while the carbon fibre bonnet has twin nostrils to aid downforce and clean up the airflow over the top of the car. Downforce at the front of the car is further increased by dive planes that create vortices of low-pressure air at track level and help accelerate airflow along the car’s sides, as well as significantly aiding brake-cooling. The dive planes contribute up to 66lbs of downforce as part of the 143lbs delivered by the fullfrontal aero package. In addition, the North American model can be specified with a special MSO upgrade package that features a gloss finish Visual Carbon Fibre roof with a roof scoop to maximize engine intake and exhaust sound, MSO Defined gloss finish carbon fibre roof cantrails and the McLaren Track Telemetry system with lap time function and 3 cameras to record those exhilarating track moments – all at no extra cost.

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

33


F

O

N

C

A

R

S

THE NEW MERCEDES MAYBACH GLS A New Form of Luxury

T

he Mercedes-Maybach GLS 600 4MATIC is today’s luxury SUV for discerning drivers. In keeping with the Mercedes-Maybach brand, the new 2020 model combines the body design and technical basis of the GLS with the luxury of a top-class sedan. Seeking a spacious interior with a stylish and luxurious atmosphere? Look no further. Stunning features of the new vehicle include luxury leather and reclining seats, electronically operated roller sun blinds, padded areas and a dashboard finished in fine Nappa leather, an electronic panoramic sliding/tilting sunroof with an opaque roller blind, heated and ventilated massaging seats, plus more.

34

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


F

O

N

C

A

R

S

liters, which can develop 550 hp and 538 lb-ft of torque, is an engine variant developed exclusively for Maybach and moves the car discreetly and powerfully. The engine is combined with the 48-volt system EQ Boost. “The SUV vehicle concept has a major advantage for the luxury segment: the high seating position. In combination with the running boards, this makes access and egress outstandingly easy and convenient. Furthermore, the raised position gives the occupants a different perspective of the surroundings, and many Mercedes-Maybach customers greatly appreciate this. Incidentally, a raised seating position is nothing new in the luxury segment: the grand luxury sedans of the 1930s, such as the Maybach Zeppelin, had a similar seating height for the driver and passengers, and very similar proportions,” said Hülder.

For the first time there is a dedicated Maybach drive program that ensures even more comfort. A MBUX Rear Tablet situated in the center console or the armrest between the rear seats allows passengers to control comfort and entertainment functions from the rear seats. Available upon special request, the fixed center console transforms the car into a spacious four-seater with a rear suitable for working or relaxing. The console is available with extending, folding tables and, of course, a refrigerator with space for champagne bottles. “Mercedes Maybach stands for the ultimate in comfort, top technology and therefore sheer luxury. We are aiming at customers who already drive an SUV. The different entry and the different seating position are experiences they want to retain. The worldwide success of SUVs has changed the standards and habits of car buyers,” said Martin Hülder, Head of Product Management, Mercedes-Maybach. Electronically extending running boards are another eyecatching feature of this new model. They make accessing and leaving the high seating position both convenient and safe. With surfaces of anodized aluminum laced with black rubber strips, illuminated in the dark and particularly wide in the area of the rear doors, they ensure a very special visual appeal. When in their retracted state, the running boards are concealed behind the side sill panels. If a rear door is opened, the running board on the side concerned automatically swings into position in around one second. This default setting can be changed using a special menu in the MBUX infotainment system.

Visually, the Mercedes-Benz star surmounts the hood in the classic way, while the fine, vertical chrome struts of the Maybach radiator grille create a pinstripe effect. Effective chrome highlights around the side windows, and the chrome inserts in the side sill panels, lend dignity and elegance to the profile. The 22 or 23-inch wheels were developed exclusively for this model, with the 23-inch version echoing the pinstripe theme. The tailpipe trim elements with a small cross rib emphasize the model‘s identity as a Mercedes-Maybach. The same applies to the brand emblem, which is positioned at various points such as on the D-pillar. As a special, Maybach-specific feature, two-tone paintwork is available in eight different, elegant color combinations. Maybach was established as a sub-brand of Mercedes-Benz as part of a brand realignment. Since its market launch in 2015, more than 45,000 examples of the MercedesMaybach S-Class have been delivered worldwide. In 2018 more Mercedes-Maybach S-Class cars were sold than ever before: one in seven S-Class models sold was a Maybach.

The AIRMATIC suspension included with the fully active E-ACTIVE BODY CONTROL system effectively keeps the road bumps at bay. Access and egress are also highly convenient. When the doors are opened, the vehicle is lowered slightly, and an illuminated running board made of anodized aluminum quickly and silently emerges on the respective side of the vehicle. The V8 engine with a displacement of four FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

35


F

O

N

P

H

I

L

A

N

T

H

R

O

P

Y

The Kids Cancer Foundation Dedicated to our Little Warriors

T

he Kids Cancer Foundation is a non-profit, 501 (c) (3) charity that provides hope and support to children and families in Palm Beach County battling childhood cancer and/or a blood disorder. The Foundation accomplishes this by providing these children and families with compassionate, easily accessible supportive care services. “Family offices have traditionally been large donors to charities nationwide and we receive many inquiries throughout the year from families asking for recommendations on worthwhile non-profits that need their support. The Kids Cancer Foundation is a group that’s always at the top of my list to recommend,” said Andrew Schneider, Founder and CEO of Family Office Networks. 36

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

Cancer is the leading cause of death related to disease in children ages one to nineteen. There are approximately 15,780 new cases of pediatric cancer diagnosed in the USA each year. Cure rates for all types of childhood cancer now average over 80%. According to the Florida Association of Pediatric Tumor Programs (FAPTP) the 3rd largest percentage of children diagnosed with cancer in the state reside here in Palm Beach County. When a child is diagnosed with cancer life changes; chemotherapy, doctor visits, hospital visits soon consume their lives and the effect on the entire family is dramatic. Doctors and nurses provide medical care, but families need more to get through this stressful and terrifying time in their lives. The Kids Cancer Foundation provides the comprehensive


F

O

N

P

H

I

L

A

N

T

H

R

O

P

Y

A

nthony is an adorable 5-year-old diagnosed with an aggressive leukemia that required him and his family to travel to St. Jude’s for Treatment for the better part of the past 3 years. Needless to say, this is a major hardship on the family since Anthony & Mom have been separated from Anthony’s Dad and older sister for extended periods of time during these past 3 years. Thanks to our donors the Kids Cancer Foundation has been able to provide “Care Packages” and gift cards to assist Anthony & his Mom while they were away. Anthony (when he is home) and sister, Trinity, love to attend and participate in the quarterly “Family Socials” and monthly “Kid’s Nights Out” hosted by the Kids Cancer Foundation.

“Family offices have traditionally been large donors to charities nationwide and we receive many inquiries throughout the year from families asking for recommendations on worthwhile nonprofits that need their support. The Kids Cancer Foundation is a group that’s always at the top of my list to recommend,”

G

eo is a 14-year-old who is battling a High-Risk Leukemia. Given the aggressiveness of this treatment, Geo has spent a great deal of time in the hospital and has had a difficult time keeping up with his Hospital Homebound High School classes. Luckily, the Kids Cancer Foundation has been able to provide one-on-one tutoring and educational advocacy to ensure that Geo’s educational needs are met. None of this would be possible without our generous donors and volunteers. FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

37


F

O

N

P

H

I

L

A

N

T

H

R

O

P

Y

EMMA

S

E

mma is a lovely 8-year-old battling Leukemia. Emma loves horses and thanks to KCF and our Ambassador, Professional Polo Player, Nic Roldan, Emma and her sisters and our other patients and families have had the opportunity to visit Nic’s barn and spend an afternoon visiting the horses and playing in the fields and having the opportunity to just be kids and have fun. Activities like this help to make the journey, battling childhood cancer, a little easier for these young patients and families. The Kids Cancer Center has been a great help to Emma’s single Mom. Emma’s two younger sisters get to spend time at the Kids Cancer Center when Emma has to go to the hospital for treatment. If not for the funding from our donors and supporters and our amazing volunteers, many necessary programs and services that the Kids Cancer Foundation provides at the Kids Cancer Center for our young patients and families would not be available.

38

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

ophie is an adorable 3-year-old who is newly diagnosed with a brain tumor. She lives with her single Mom. Since Sophie’s diagnosis her mother has had to take an extended leave of absence from work without pay, a leave which has been extended even longer than expected. Sophie had a re-occurrence of her brain tumor and had to undergo surgery again and re-start chemotherapy. The KCF has been able to apply for financial assistance to help this single Mom pay her monthly bills. The KCF has also been able to provide gift cards to help assist with the financial burden of food and travel for Sophie when she comes to the hospital for treatment. KCF has also been able to provide the education and support Sophie’s Mom needs to properly care for Sophie. None of this would be possible without the funding we receive from our generous donors. SOPHIE


F

O

N

P

H

I

L

A

N

T

H

R

O

P

Y

JOHAN

J

M

ichelle is currently our youngest patient. At 5 months Michelle was diagnosed with Infantile Leukemia which has a very poor prognosis for survival and is aggressively treated with a bone marrow transplant, if the baby is able to survive the aggressive chemotherapy and achieve remission. As if such a difficult diagnosis was not enough, Michelle’s single Mom lives over 1 ½ hours away from the closest hospital that can provide the medical care Michelle requires. The only transportation Michelle’s Mom had was a very old and very unreliable car. Thanks to the Kids Cancer Foundation, Michelle’s Mom was able to take her car into a reliable auto repair shop to havex the necessary repairs made to ensure her vehicle was safe and reliable to make the trips to the hospital. If not for the funding from our donors, the Kids Cancer Foundation would not have the resources to assist this family. MICHELLE

ohan is an adorable 8 year old with High Risk Leukemia who is holding “Hopper,” an interactive stuffed animal that we provide to our young patients at diagnosis to help ease some of their worries and concerns regarding procedures and treatments. Hopper along with Chemo Duck are used for medical play. They help make the treatments and procedures our young patients receive less scary by allowing them the opportunity to perform the various treatments and procedures on Hopper & Chemo Duck. Thanks to the donations and grants we receive we are able to provide Hopper & Chemo Duck for our young patients and Huggable Hope (Chemo Ducks friend) to the siblings of our patients. and supportive assistance families need. It educates families about their child’s diagnosis and treatment and provides the physical, emotional and financial support that the children and families need throughout this difficult journey. The Kids Cancer Foundation has the dedication, knowledge and resources to assist families during this difficult time and actively advocates for the children and their families throughout treatment and beyond. The Kids Cancer Foundation works collaboratively with the medical team and coordinates local, state and national resources with the services we provide to ensure that the needs of the patients and families are met. This coordination of education and support is critical, as it has been shown to increase both a child’s quality of life and chance of survival. FOR INFORMATION OR TO MAKE A DONATION, CONTACT Michelle O’Boyle RN, CPON, Founder/Executive Director, Kids Cancer Foundation, EIN: 01-0551879, 561-371-1298, michelle@kidscancersf.org FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

39


F

O

N

A

R

T

BY VICTORIA L. HOFFMAN

A

s a young child growing up in New York City I was always amazed at the vast number of incredible museum options that the Big Apple had to offer, but perhaps one of my fondest places to gaze and dream was at The Museum of Modern Art, a museum focused on modern and contemporary art. Therefore, I was excited when I heard that the MoMA had reopened last October with promises of bigger and better.

New York society- Mrs. John D. Rockefeller, Jr., Miss Lillie P. Bliss, and Mrs. Cornelius J. Sullivan- the museum‘s goal was to establish a more nontraditional approach to the arts under their tutelage.

Upon my arrival on a cold November winter day, the lobby was swarming with what looked like lots of colorful bees except they were visitors excitedly moving in all directions in anticipation of what promised to be a most engaging and With an annual base of more than 3 million visitors per educational day. My expectations were blown away as I year comprised of a roughly equal split among Americans strolled through three floors of galleries for many hours. I and foreigners, the museum is perfectly situated in midtown worked my way down from the fifth floor to the second floor Manhattan and easily accessible by public transportation. as the artwork is chronologically arranged from oldest to Founded in the late 1920s by three influential members of most contemporary with living artists. I perused with ardent 40

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


F

O

N

A

R

T

fervor to enjoy Vincent Van Gogh’s A Starry Night, Georgia O’Keeffe’s Abstraction Blue, and other works by famed artists such as Frank Lloyd Wright, Pablo Picasso, Henri Rousseau, Salvador Dali, and more. MoMA is focused on rotating a third of their exhibits every six months throughout their floors. With their new expansion of more than 40,000 square feet of space, MoMA is also able to display art in more creative ways, including live performances. It is the first time in their 71 years of existence that an expansion of this magnitude has taken place. Their first live performance will launch starting July 18, 2020-August 1, 2020 and will be artist-in-residence - Okwui Okpokwasili – who will create multidisciplinary performance pieces bringing together elements of dance, theater, and visual arts. Over at their brand new Creativity Lab, visitors can have an educational experience while identifying with the history of art. Art enthusiasts can learn to weave or simply sit quietly and be inspired to create. Currently, there are sixty collection galleries throughout the museum which include a wide array of exhibits - painting, sculpture, architecture, design, photography, media, performance, and film. What started out as eight prints and one drawing is now a collection of more than 200,000 pieces. This does not include their two million film stills.

Another exciting development is the recent gifting of 90 pieces of contemporary art from the Colección Patricia Phelps de Cisneros which has enhanced the museum’s stance on Latin American contemporary art. Works are presented by 48 artists from 10 Latin American countries including, but not limited to: Brazil, Argentina, Colombia, Cuba, Mexico, and Venezuela. Perhaps among the most highly anticipated exhibits coming to The Museum of Modern Art is: Judd (March 1-July 11, 2020), a dedicated retrospect on the sculptor Donald Judd. From March 22- July 25, 2020, there’s Félix Fénéon: The Anarchist and the Avant-Garde—From Signac to Matisse and Beyond, the first exhibition devoted to the influential French art critic, editor, publisher, dealer, and collector Félix Fénéon who helped the careers of painters including Georges Seurat, Paul Signac, Pierre Bonnard, and Henri Matisse. Starting on September 13 and running through January 3, 2021 comes the Alexander Calder: Modern from the Start exhibit showcasing 70 of his artworks. With so much to see and admire, it was time for a late lunch at the highly in demand Danny Meyer‘s The Modern, a contemporary American two Michelin star restaurant FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

41


42

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


F

O

N

A

R

T

located onsite. Too bad there were such long lines – a reservation is highly suggested here. Instead, I opted for an equally nice lunch at one of their two cafes also run by Meyer‘s Union Square Hospitality Group. As I enjoyed my gourmet chicken salad and French Onion soup, I sat back and relaxed. MoMA indeed has delivered. For more information about hours, after hour tours, private and group tours, visit www.moma.org.

About the author: Victoria L. Hoffman is the owner of the luxury agency Concierge & Events by Victoria that provides one-of-a-kind WOW experiences, luxury Virtuoso travel programs, and event planning. FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

43


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

44

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


“We’re excited to partner with a highly qualified team of family office recruiting experts as a way to meet the growing needs of the families within our organization. Everyone involved has deep breadth and depth of family office recruitment experience and the number of successful case study examples is impressive to say the least.” ~ Andrew Schneider.

F

amily offices share unique challenges as they build scale and bring on board highly qualified talent to help build their organization to last generations. It can be tough to find the best people with the perfect level of real-world experience and the ability to fit in well with the family. Family Office Networks continually hears from families seeking access to qualified personnel to fill roles in areas such as finance and accounting, information technology, executive leadership, operations, legal, risk and compliance. With that in mind, FON is expanding its commitment to helping families identify and access top talent by partnering with a top executive search firm that specializes in family office work. FON’s new recruitment team understands that all family offices are not created equal and that each one is formed with a different vision for the future. These experts also understand the nuances of the different types of family structures and are adept at identifying the right skill sets for the right situation. Equally, if not more important in this sector, is the cultural fit given the personal nature of the families’ holdings and in many cases the size, scope, and number of family members being served by the office. The team has worked with family offices of all sizes, from start-up to very mature operations, including single- and multi-generational operations. “We’re excited to partner with a highly qualified team of family office recruiting experts as a way to meet the growing needs of the families within our organization. Everyone involved has deep breadth and depth of family office recruitment experience and the number of successful case study examples is impressive to say the least,” said Family Office Networks Founder and CEO Andrew Schneider. Giving back to the communities in which they work and to those in need around the world is a huge part of the team’s company culture and everyone is encouraged to lead and participate in charitable endeavors, as well as donate time and resources to help others. FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

45


Your Brand, Your Legacy BY RENE M. PAEZ, CHIEF LEGACY OFFICER OF HIGH IMPACT LEGACY GROUP PALM BEACH, FLORIDA

T

here is a proverb that says: A beautiful reputation is more to be desired than great riches, and to be esteemed by others is more honorable than to own immense investments. This is true for both people and organizations. In 1962 when Philip Kotler began teaching marketing at the Kellogg School of Management at Northwestern University, he realized that demand was not only influenced by price and distribution, but also by promotion, advertising, and sales. He went on to transform the field of marketing taking it from a peripheral activity to an essential part of profitability when he suggested that a greater focus must be placed on meeting customers‘ needs and on the benefits received from a product or service. He concluded that Business success these days is all about the art of brand building. If you aren‘t a brand, you are a commodity.

46

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


This focused messaging called the brand distinguishes one product or service from that of any other organization. Few organizations in the luxury space have perfected their brand reputation as LMVH Moët Hennessy - Louis Vuitton SE. Just the mention of this name leads to visions of highly desirable fashion items, exclusive wines, and bedazzling jewelry recognized by people around the globe. In the same way, a person or family also has a personal brand or reputation that distinguishes it from others. Examples of celebrities such as the Kardashians are prime examples of families that have perfected the art of using their personal brands to promote themselves and products that they endorse. Actor George Clooney is another great example of someone who has used his celebrity status to promote a refined image and use that to promote among other things a tequila company called Casamigos that he co-founded. So how do I define what a personal brand is? Simply, this is how you promote yourself using a combination of your skills, experiences, and personality. It is your image and how you want to be perceived by the world including your reputation and what others say about you. It is your story and how it reflects your attitude and conduct. Your personal brand is what makes you memorable and helps you stand out in a very crowded world.

How do I create a successful personal brand? The only way to effectively create this is by defining it and then consistently and authentically living it on a daily basis. Start by doing some introspection and verbalizing your purpose, your values, and your passions. What drives you? What brings you meaning? What makes you happy? Writing these responses down while thinking through what you want your brand to be helps tremendously. Remember, it is important to be focused so that you are not all things to all people but authentically you. Then live it consistently. Consider also your narrative, meaning: What is your story? What life events have you experienced that promote the brand that you are trying to portray? Here you can use both positive or negative events from your life to propel your narrative and consequently your brand. The power of a good story should never be underestimated.

Why should I be intentional about my brand? If you are not intentional about it, someone else will define it for you. Reputation, which is a part of your brand, takes a lifetime to build, but can be lost in a hot minute. As we mentioned, a brand is something that defines you and sets you apart. A powerful brand opens doors to allow you to achieve your goals more effectively. It also allows for others who want to align with you to rally around you. A perfect example of this is Oprah Winfrey. Her voice is one of the most influential personal brands in the world today. Her recommendation of a product or service or her pursuit of a certain cause instigates a multitude of people around the globe to positively align with her. That is real influence.

What can a brand help me achieve? The manner in which you use your influence will determine your life’s impact, and your life’s impact will determine your legacy. Regardless of whether you are a celebrity, an established family of means, or someone that recently received a windfall from a liquidity event, you want your life to count and make a difference in this world. You may have the monetary means to exert influence but question the strength of your personal brand to exert the right influence. To these people we say, there is no time like the present to get started. Carpe diem! Define it, verbalize it, and consistently live it on a daily basis. It needs to become who you are, what you live for, and project what you believe. It’s a reflection of the genuine you. With this in mind, use your brand to create positive change, give back, and influence people for the better. This will snowball your brand’s reputation and community behind it. Over time your brand will evolve and possibly even change. It’s not static. However, as your influence grows, then you get to decide the impact you want your life to have. This will determine your legacy and the ripple effect of your life on generations to come. FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

47


PHOTOGRAPHER AND STYLIST “KOHERENT INC.”

S

ean Koh is a multi-talented Asian-American R&B Pop sensation who performs as ESKOH, which stands for “Every Situation Kan Offer Hope.” He’s on track to win a Grammy in the next two years and is also a serial entrepreneur with a track record of building a portfolio of successful ventures via Koherent Incorporated, an extension of the Koh Family Office. Koh grew up singing in church in Manhattan and Bergen County, which led to recording and touring his first professional music project at the age of 16 throughout America and Asia. He was a finalist on the internationally televised “Showtime at the Apollo” in Harlem where legends such as Michael Jackson, James Brown, and others have graced the stage. Since then, he has grown his music repertoire to encompass works with Grammy award-winning multi-platinum talent and has performed globally with the likes of Jimmy Cozier, Shaggy, John Legend, Teddy Riley, and others. His title track “Beautiful Lady” (2017) is endorsed by The Women’s March, empowering millions of women to feel their true beauty. Having signed with Grammy-nominated Jimmy Cozier‘s management group Coznection, in 2020, he released his latest single “Do Rite” which encourages all men to “do rite” by all women and has more songs being released including features by Sean Paul and other global superstars. Coznection‘s Stacy Barthe, who has recently penned some of Beyonce‘s latest songs, is also in the studio with him for his upcoming album. At 16 years old, he forwent a major record deal in Korea and instead opted to pursue his curiosity about the business world as an undergraduate student at Wharton. While there, he created a record label 48

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

in his dorm room and hired rappers from West Philadelphia to perform at college fraternity parties with the budget to supplement the artists’ incomes and keep them off the streets. “This was my first impact investment and it did quite well,” Koh says. Today, Koh is a passionate spokesman for Asian talent globally. He helped launch the career of South Korea’s K-Pop


Today we’re seeing an Asian Renaissance which represents a true cultural awakening. Oscar-winning movies such as Parasite and Crazy Rich Asians, plus bands such as the hugely popular Korean band BTS, prove that people are tired of the same old story and seeking new genres, sounds and content.

likes of Michael Jordan, Mark Wahlberg and many other CEOs and celebrities. He also leads Koherent Kapital, Koherent Technology, Koherent Philanthropy and Koherent Media. As a result of a series of successful personal blockchain investments in 2018, Koh is able to support his music career wholly on his own and continues to benefit from the support of artists such as Alicia Keys, Miley Cyrus and Mary J. Blige, among others. Koh credits his entrepreneurial spirit and dedication to his strong family connections, ancestry and upbringing. His maternal and paternal grandparents and great grandparents are featured prominently in books on Korean history. His father’s grandfather was the first dentist in North Korea having earner his dental school degree in Germany during the Japanese occupation. He was treated very well by the communist state as medical practitioners were scarce at the time and stayed behind during the Korean War while the rest of his family members escaped to the South on a desperate convoy with US Marines fleeing the barrage of Chinese soldiers coming over the North Korean border. On his mother’s side, his great grandfather was a member of the “Lee”or “Yi” noble class affiliated with the royal family, merchants and scholars. After meeting American and Canadian missionaries, he decided to become the first ordained minister in Korea and dedicated himself to philanthropy and the globalization of the Korean Peninsula.

sensation Ailee whom he met over 10 years ago and also is part owner of Seoul-based Coridel Entertainment which manages K-Pop star Jessica Jung who has over 9 million followers on Instagram. Fashion has always been a natural extension of Koh’s music and he also developed and launched successful clothing brands beginning in his college years through today in collaboration with Jessica Jung. “Today we’re seeing an Asian Renaissance which represents a true cultural awakening. Oscar-winning movies such as Parasite and Crazy Rich Asians, plus bands such as the hugely popular Korean band BTS, prove that people are tired of the same old story and seeking new genres, sounds and content,” Koh said. “We’re breaking the Bamboo Ceiling.” Koh’s focus on music investing is based on the emerging trend in global online music streaming. “Lately in the digital content ecosystem, you see a myriad of artists making content from their homes and going on to generate millions of dollars faster and bigger than any typical alternative investment. Furthermore, music is one of the few asset classes where you can generate and track financial results in real-time from the convenience of your phone,” he said. In the business world, Koh’s overall engagement and adoration with music interlaces with an innovative and forward-thinking mentality that positions him as an industry-leading entrepreneur. One of his companies, Koherent Retail, owns the prestigious Manhattan Woods Golf Club whose members include the FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

49


50

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


During the Korean War, his maternal grandfather served as an ally of the United Nations and United States and advised on various maneuvers that helped South Korea become the powerhouse it is today. As the South gave up and retreated, the third largest southern city of Daegu with only 400,000 population had to accommodate two million refugees coming down from the north of Daegu, including Seoul. He persuaded the 8th Army‘s General Walker to appeal to General MacArthur (then in Japan) to bomb Daegu‘s nearby mountain where the communist army was waiting to attack Daegu City. This bombing action, coupled with Korean police raiding the mountain, saved the City of Daegu. Following the war, his maternal grandfather convinced USAID and other international groups to rebuild war-torn South Korea and established one of the earliest business and real estate portfolios in the region. His maternal grandmother was one of the first female entrepreneurs in Japan and Korea importing industrial technology with other captains of industry such as Chung Juyung, the founder of Hyundai. Due to a tumultuous political period in post-war Korea, Koh’s maternal family relocated from Korea to California in the late 1960s-early 1970s. His father came to join his grandfather in Chicago, studied accounting at the University of Illinois, received a prestigious fellowship with Mayor Beame in New York City, and became a founding partner who ran the Asian desk during the merger of Ernst & Whinney and Arthur Young (today Ernst & Young). The family’s genius is also evidenced by the accomplishments of Koh’s father’s younger brother, Jee Heub Koh, who is a tenured mathematics professor at Indiana University. Having retired early as an E&Y partner and seeing a similar business climate in the post-Soviet Union era as during the post-Korean War era, his father was the first foreign investor to privatize Central Asia while setting up orphanages, schools, and other humanitarian aid for the locals. His father now spends most of his time overseeing Manhattan Woods and the Koherent Foundation with his mother who serves handicapped youth domestically and abroad earning her the moniker, “The Korean Mother Theresa.”

The next generation, his grandparents, continued the family tradition of excellence with his paternal grandfather working as Chief Information Officer for the Korean Army during the Korean War and accompanying not only the first President of South Korea Dr. SeungMan Rhee but also General MacArthur on occasional domestic trips. He later earned a PhD at Harvard and eventually became Director of Psychosomatic Institute at Chicago’s renowned Michael Reese Hospital, which deals with perception and cognition of mentally ill patients. Having attended university with his paternal grandfather, his maternal grandfather majored in Shakespearean literature which influenced Koh‘s mother to pursue the arts playing the leading lady in many of South Korea‘s earliest theater productions.

On Koh’s mother’s side, her younger brother and his uncle, Dr. David Lee, is the founder of Silicon Image (NASDAQ:SIMG), a leading provider of multimedia connectivity solutions and services. He pioneered the DVI™ and HDMI® connectivity standards and was inducted into the Consumer Electronics Hall of Fame which honors an elite group of inventors, engineers, business leaders and journalists who are recognized for their contributions as pioneers in the consumer electronics industry. Koh sums up his love for music and the business world in a single quote, “Music is where I see the largest Alpha. It’s transformative and is now starting to be accepted as an institutional grade investment and asset class. Indeed, some songs are worth more than a New York City block.” You can follow his journey at -

instagram.com/trulyeskoh FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

51


The Kentucky Derby A Celebration of Southern Culture & A Tradition Like No Other

A

visit to the Bluegrass State of Kentucky, isn’t complete without a trip to the Kentucky Derby. As the longest running sporting event in U.S. history, The Run for the Roses® began in 1875 and has evolved into more than just a one and one-quarter mile long race for three-year-old thoroughbred horses. Today, it’s a celebration of Southern culture as represented by beautiful hats, mint juleps, the “My Old Kentucky Home” theme song, and lavish celebrations. For aspiring competitors, the road to the Kentucky Derby is challenging. Just 20 horses compete in the race and eligibility is based on a series of 35 races held at tracks around the world. The top four horses that finish in each of those 35 races, and the 20 horses with the most points, earn a coveted spot at the Kentucky Derby and a chance to win $2 million. 52

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


Today, it’s a celebration of Southern culture as represented by beautiful hats, mint juleps, the “My Old Kentucky Home” theme song, and lavish celebrations.

This year’s delayed Kentucky Derby takes place Saturday, September 5 and is expected to attract a crowd of 155,000+ people, many of whom will travel a great distance to see “The Most Exciting Two Minutes in Sports.” The Kentucky Derby is the first race within the Triple Crown of Thoroughbred Racing, where it is followed by the Preakness Stakes race and the Belmont Stakes race. There’s no shortage of glamorous parties during Kentucky Derby Week and this year’s event is set to kick off in style with Fund for the Arts featuring a variety of artists, live performances and art installations, and ten thrilling thoroughbred races that combine to make this night a one-ofa-kind, dress-to-impress experience. The signature accessory for Opening Night is an evening headpiece -- fascinator, feathers, a hat, a headband, or something similarly stunning.

A Visit to Churchill Downs and the Kentucky Derby Is Not Complete Without a Mint Julep 120,000+ Mint Juleps are consumed during Kentucky Derby weekend at Churchill Downs Racetrack requiring approximately 10,000 bottles of Old Forester Mint Julep Cocktail, 1,000 pounds of freshly harvested mint and 60,000 pounds of ice. Mint Julep Recipe •

3 oz. Old Forester Mint Julep

0.75 oz. Simple Syrup

8-10 mint leaves

3 mint sprigs, for garnish

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

53


F

O

N

T

R

A

V

E

L

LE PALAIS VENITIEN A Palace on the Hills in Cannes

W

hat could be more stunning than a palace on the French Riviera? Those seeking a new home in this European paradise are sure to find the residence of their dreams in a unique residence inspired by the architecture of Byzantium and Venice. The Palais Vénitien is situated on 6+ acres overlooking a magnificent panorama of Cannes and the blue waters of the Mediterranean. Luxurious amenities include a lake, tennis court, secluded woodlands and an expansive outdoor pool. The terraced grounds are well-manicured and beyond compare.

54

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


N

F

O

N

T

R

A

V

E

L

The Palais Vénitien is situated on 6+ acres overlooking a magnificent panorama of Cannes and the blue waters of the Mediterranean. Luxurious amenities include a lake, tennis court, secluded woodlands and an expansive outdoor pool.

Once inside, guests are welcomed by impressive monumental columns and exquisite moldings. The palace boasts over 32,291 square feet of elegant living that is perfectly characteristic of Venetian design. Features include: nine residential suites; numerous reception rooms; a security system in the entire house that enables the control of lights, music, air-conditioning and A/V systems; a cinema; nightclub; gym; sauna; wine cellar; elevator; tennis court; pools; sea views; and much more. This outstanding luxury property facing the sea is listed by Côte d‘Azur Sotheby‘s International Realty for $130,505,710. FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

55


F

O

N

M

E

M

B

E

R

F

E

A

T

U

R

E

GENPREX

Today’s Leading Gene Therapy Company

A

s a leading gene therapy company, Genprex develops potentially life-changing technologies for patients with cancer and serious diseases based upon innovative science, including its unique, proprietary technology platform.

The Genprex team is developing a new approach to treating cancer based on its novel platform, including its lead product candidate, GEN-001 (also referred to as “Oncoprex”), which received FDA Fast Track Designation in January 2020 for use in combination with osimertinib (Astra Zeneca’s Tagrisso® and largest selling drug) for non-small cell lung cancer. The company’s platform technologies are designed to administer cancer fighting genes by encapsulating them into nanoscale hollow spheres called nanovesicles, which are then administered intravenously and taken up by tumor cells where they express proteins that are missing or found in low quantities. 56

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

“One of the biggest differentiators between Genprex and other gene therapy companies developing technologies to treat cancer and other serious diseases is our proprietary non-viral nanoparticle delivery system. which has already been used to safely treat more than 50 patients to date,”


F

O

N

M

E

M

B

E

R

F

E

A

T

U

R

E

RODNEY VARNER Genprex’s Chairman & CEO

“One of the biggest differentiators between Genprex and other gene therapy companies developing technologies to treat cancer and other serious diseases is our proprietary non-viral nanoparticle delivery system, which has already been used to safely treat more than 50 patients to date,” said Genprex’s Chairman and Chief Executive Officer, Rodney Varner. “Most gene therapy research has been focused on using viral delivery systems to deliver genes to cancer cells, and today most approved gene therapies for non-blood cell therapies use a viral vector to deliver the gene to the patient. Our proprietary non-viral delivery system enables us to potentially treat patients with a delivery system that may be safer, with lower production costs and better scalability.” The company’s lead product candidate targets non-small cell lung cancer. This initial cancer target represents about 85 percent of all lung cancers and causes more deaths each year than any other type of cancer. Lung cancer is the second most common form of cancer, and the five-year survival rate for late stage lung cancer has not improved substantially in a quarter century. Research indicates that Genprex’s platform technologies may also deliver a number of other cancer fighting genes, alone or in combination with other cancer therapies, to combat additional types of cancer.

Genprex’s market potential is significant because a majority of cancer patients are poor candidates for targeted therapies and immunotherapies or develop resistance to those drugs. In fact, just 10 percent of patients have an activating mutation and can benefit from targeted therapies while 12 percent of patients are eligible for and benefit from immunotherapies. To add to the company’s huge market potential, Genprex recently signed a new exclusive license agreement with the University of Pittsburgh for a diabetes gene therapy that may have the potential to cure Type 1 and Type 2 diabetes, which together currently affect approximately 30.3 million people in the U.S, or 9 percent of the U.S. population. In addition to initiating a Phase I clinical trial in combination with osimertinib, future plans also call for the initiation of a Phase I clinical trial in combination with Merck’s Keytruda, which is Merck’s largest selling drug. For more information, contact Genprex at 877-774-GNPX or investors@genprex.com.

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

57


F

O

N

M

E

M

B

E

R

F

E

A

T

U

R

E

Liquid ETFs The Next Frontier in Family Office Investing

A

s family office investors seek out fresh solutions for boosting investment performance, many are turning to popular new Exchange Traded Fund (ETF) alternative products that offer a means of exposure to asset classes such as hedge funds, private equity and real estate. Globally, the market for liquid alt ETFs stands at $47 billion and that number is fast growing. The reason for this expansion is the fact that liquid alt products share a number of advantages that family offices seek out, including liquidity, portfolio diversification, transparency, attractive fee levels and compelling risk/return, with liquidity representing the biggest reason for using liquid alts. As a result of all these factors, family offices view liquid 58

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

alt ETFs as having the potential to improve a portfolio’s risk/ return profile. Overall, they are ideal for families that require suitable investments for transition management, alpha/beta separation, core replacement and even as a replacement for fund of funds investments. The case for liquid alt ETFs is supported by a 2019 study of 107 senior professionals at large institutions and family offices conducted by Greenwich Associates and commissioned by IndexIQ , a New York Life Investments company. One of the key conclusions drawn from this research is that liquid alt ETFs are still in their very early stages in the marketplace. Drawing on data on demand for alternatives classes and adoption rates of ETFs in other asset classes, the study


F

O

N

M

E

M

B

E

R

F

E

A

T

U

R

E

Among family offices not currently using liquid alt ETFs, almost 20 percent state they will consider using them in the next year. Meantime, roughly 1 in 10 families that are currently invested plan to increase allocations to liquid alternative ETFs in the next year. Indeed, projected growth of the liquid alt ETF sector is expected to increase to $114 billion in the next 12 months, which is roughly 2.5 times current allocations. This growth is expected to be spurred significantly by family offices seeking to diversify equity and bond risk in an efficient way in preparation for the end of this business cycle. “In our view, the No. 1 reason a family office would not be using liquid alt ETFs in specific portfolio functions like manager transitions is that they are simply unfamiliar with the structure. Given our families’ embrace of ETFs in other asset classes and their ample appetite for alternatives, it’s possible—even likely—that large numbers of these investors will at least experiment with liquid alt ETFs when given an opportunity,” said Family Office Networks Founder and CEO Andrew Schneider.

projects a trajectory of further long-term growth for liquid alt ETFs in family office and high net worth investor portfolios. “For more than 20 years, institutional investors have been adding alternative asset classes to their portfolios in an effort to diversify exposures and increase long-term investment returns. More recently, family offices also have been adopting exchange-traded funds (ETFs) as a jack- of-all-trades tool that’s versatile enough to provide short-term liquidity for manager transitions and other tactical tasks, while also providing an effective vehicle for taking on long-term strategic investment exposures. The intersection of these trends could ultimately bring about a transformation of alternative investments in portfolios,” said Andrew McCollum, Managing Director, from Greenwich Associates. “They represent a natural fit.”

For information, contact: Chris Hempstead Director, Institutional Business Development IndexIQ | New York Life Investments P:212-576-4422 chempstead@indexiq.com 51 Madison Ave New York, NY 10010

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

59


F

O

N

M

E

M

B

E

R

F

E

A

T

U

R

E

Family Offices Investing in

FARMLAND

T

he world’s population is expected to be over 8 billion by 2030 and agriculture production must be increased accordingly, by about 6070 percent, to meet increased food demand. How best to meet this challenge is the subject of much debate and discussion since the world’s farmland acres are finite and continue to decrease due to industrialization and urbanization. Changes in dietary habits are another important consideration as the developing world’s middle class continues to update its diet to include more protein such as meat and dairy which require more grains to provide. The global focus on our food supply has resulted in increased demand from family offices seeking to invest in farmland and become part of the solution. Farmland has negative correlation with equities and has proven to offer consistent returns, incomeand capital appreciation in times of market volatility. The USDA reports that over thepast 50 years farmland has appreciated approximately, on average, 6.1% per year. 60

AgVest Advisors, based in the Midwest, is one of the companies Family Office Networks works with to bring farmland investment opportunities to family offices seeking access to the asset class.“We help family offices invest directly in U.S. farmland to the tune of ~$30 million per year for current investors. We help familiescreate their unique investment thesis, source farmland deals within our extensive network, negotiate on behalf of the investors to buy farms, provide diligence post contract, and manage investments post purchase. Our goal is to consistently deliverbelow market farmland deals to family office investors,” said CEO Chris Brawner. Brawner’s track record includes investing for companies owned by some of the biggest financial institutions and pension funds in the world, including Goldman Sachs, Duquesne Capital, the Canadian Pension Plan and Utah Retirement Systems. He has been involved in $650 million+ of investments over the past decade and hasparticipated in two of the largest U.S. row crop farmland portfolio sales ever – Goldman Sachs/Duquesne to Canadian Pension Plan in 2013 and Canadian Pension Plan to the Gates Foundation 2017.

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

For information, email Chris Brawner at cbrawner@agvest.co or call at 618-520-7022


F

O

N

M

E

M

B

E

R

F

E

A

T

U

R

E

Exro Technologies Inc.

Optimizing Performance for Smart Energy Conversion

E

xro Technologies Inc. (CSE: XRO) (OTCQB: EXROF) is a Canadian energy technology company dedicated to commercializing an electric power module that helps to make motor systems smarter. The company’s patented technology optimizes existing motor products by dynamically sensing and adapting variable inputs and matching them to desired outputs, thus creating measurable performance gains and an extended lifespan. “Our novel approach is scalable to optimize the performance of electric vehicles, UAVs, pumps, grid storage, industrial motors, vacuums and all other variable torque applications that require smart energy conversion,” said Chief Executive Officer Sue Ozdemir. “We are improving the way energy is consumed and accelerating the global transition to clean energy..” Electric motors are the single biggest consumer of electricity as they account for about two-thirds of industrial power consumption and about 45% of global power consumption, according to an analysis by the International Energy Agency. Exro’s technology provides industries a new way to look at energy—from electric vehicles, to industrial equipment, to renewable applications like wind farms. The 6,500-square-foot Exro Innovation Center, scheduled to open spring of 2020 in Calgary, will transition the current Victoria lab into one Calgary based center. The company’s new laboratory space will expand its service capabilities to customers, provide larger test capabilities, and showcase how its technology can be applied to dramatically improve the performance of electrical motors. The Center will also host collaborative events to explore global advances in energy consumption and electric motor innovations. Three strategic partnerships to date include: an agreement with Finland’s Aurora Powertrains Oy, which in 2019 released an all-electric production snowmobile called the

eSled; an agreement with Potencia in Mexico servicing the last mile vehicle segment that will integrate Exro’s custom driver and EPM module into small passenger commercial vehicles (taxis) and fleet delivery trucks; and a licensing agreement with Motorino Electric that will integrate Exro’s Electric Power Module technology into Motorino’s CTi electric bicycle. “Our vision represents a multibillion opportunity for Exro’s energy management system solutions that is aimed at accelerating the worldwide adoption of electric and renewable power systems. The target global market size includes 63 billion bikes and scooters, 55 billion electric vehicles, and 14 billion e-recreational vehicles such as snowmobiles, boats and ATVs and we anticipate global market growth in the electronic motor sectors to continue as the demand for low-impact, zero-emission vehicles accelerates,” said Ms. Ozdemir.

For information, visit www.exro.com or email Sue Ozdemir at sozdemir@exro.com. FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

61


“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.

62

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

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


F

O

N

M

E

M

B

E

R

F

E

A

T

U

R

E

Dyadic International, Inc. A Global Biotechnology Company Working to Provide Life-Saving Vaccines to Market

A

s our world sits on edge due to coronavirus concerns, Dyadic International, Inc. (NASDAQ:DYAI) is working as fast as possible to further improve and leverage a patented and proprietary system to help bring biologic vaccines and drugs to market faster, in greater volumes, at lower cost, and with new properties to drug developers and manufacturers to improve access and costto patients and the healthcare system – but most importantly to save lives. An important new collaboration with The Israel Institute for Biological Research, a governmental research institute established to provide the State of Israel with scientific response to chemical and biological threats, enables Dyadic to explore the potential of an industrially proven C1 gene expression platform that that may help combat the outbreak of the COVID-19 virus. The research collaboration combines IIBR‘s renowned scientific capabilities and cGMP facilities with Dyadic‘s scientific expertise. “Our collaboration with the IIBR is aimed at finding additional solutions to combat the COVID-19 coronavirus outbreak that threatens the lives of peoplein China and globally. There is a global need to apply new platforms and technologies that will facilitate a fast, coordinated

and practical response to new infectious diseases during pandemic and epidemic outbreaks or a bioterrorist attack and we believe that Dyadic‘s C1 technology is well-positioned to contribute to this global effort,” said Mark A. Emalfarb, Founderand CEO of Dyadic. “The Israel Institute for Biological Research was assigned by the Israeli Primeminister, Mr. Benjamin Netanyahu, to act as quickly as possible to produce a vaccine and neutralizing antibodies for the Novel Coronavirus COVID-19. More than 50 experienced Ph.D. IIBR‘s scientists are working tirelessly to produce a vaccine and neutralizing antibodies for the Novel Coronavirus COVID-19. This is a world-leading group in aspect of knowledge, experience and infrastructure. The Israel Institute for biological research was assigned tothe task based on its proven professional scientific capabilities and previous successes in the field,” said Prof. Shmuel C. Shapira, Director General of IIBR. FOR MORE INFORMATION, CONTACT: Mark Emalfarb CEO / Dyadic International, Inc. memalfarb@dyadic.com 561.743.8333 FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

63


F

O

N

E

V

E

N

T

S

OUT + ABOUT

PHOTO CREDIT: PHOTOGRAPHY BY SUNMAN

Miami

64

Mixer / FON Magazine Holiday Issue

Launch

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

FON / Highline Gallery Opening Event


F

O

N

E

V

E

N

T

S

Family Office Networks is always on the move hosting events and parties that bring families together for fun, education and camaraderie. Check out our photo gallery >>

Sunday Funday/ FON Polo

FON Polo Event - Palm Beach

Event

FON Polo Event - Palm Beach

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

65


F

O

N

E

V

E

T

S

FON Polo Event - Palm Beach

FON Polo Event - Palm Beach

FON Polo Event - Palm Beach

N

FON Polo Event - Palm Beach

FON Polo Event - Palm Beach

66

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


F

O

N

E

V

E

N

T

S

FON Polo Event - Palm Beach

FON Polo Event - Palm Beach

FON Polo Event - Palm Beach

FON Polo Event - Palm Beach

FON Polo Event - Palm Beach

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

67


F

O

N

E

V

E

N

T

S

FON / Highline Gallery Opening Event

FON / Highline Gallery Opening Event

FON / Highline Gallery Opening Event

FON Art Basel Event - Miami

FON Art Basel Event - Miami

FON Art Basel Event - Miami

68

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


F

O

N

E

V

E

N

T

S

FON / Highline Gallery Opening Event

FON / Highline Gallery Opening Event

FON Art Basel Event - Miami

FON / Highline Gallery Opening Event

FON / Highline Gallery Opening Event

FON / Highline Gallery Opening Event

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

69


F

O

N

E

V

E

N

T

S

FON / Highline Gallery Opening Event

FON Polo Event - Palm Beach

70

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

FON Polo Event - Palm Beach


F

O

N

E

V

E

N

T

S

FON Polo Event - Palm Beach

FON / Highline Gallery Opening Event

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

71


F

O

FON / Highline Gallery Opening Event

N

E

V

E

N

T

S

FON / Highline Gallery Opening Event

FON Polo Event- Palm Beach

FON / Highline Gallery Opening Event

72

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

FON Art Basel Event - Miami


F

O

N

E

V

E

N

T

S

FON / Highline Gallery Opening Event

F OF N O NP oPlool oE vEevnetn- t P - aPl aml mB e a c h

FON Polo Event- Palm Beach

FON Polo Event- Palm Beach

FON Polo Event- Palm Beach

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

73


F

O

FON Polo Event- Palm Beach

N

E

V

E

N

T

S

FON Polo Event- Palm Beach

FON Polo Event- Palm Beach

FON Polo Event- Palm Beach

74

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

FON Polo Event- Palm Beach


F

O

N

E

V

E

N

T

S

FON Polo Event- Palm Beach

F OF N O NP oPlool oE vEevnetn- t P - aPl aml mB e a c h

FON Polo Event- Palm Beach

FON Polo Event- Palm Beach

FON Polo Event- Palm Beach

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

75


CURRENT Events

76

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


CURRENT Events

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com

77


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

78

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com


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. WWW.FAMILYOFFICENETWORKS.COM 307 EVERNIA ST, 3RD FLOOR WEST PALM BEACH, FL 33401 P: 1-561-463-4300

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com COPY RI GH T 2 0 2 0 , ALL RIGHT RESE RVE D, FAMILY OFFICE NE T WORK S

79


80

FON MAGAZINE / SPRING ISSUE 2020 / FONMagazine.com