FOXcast
FOXcast
Podcast Description
The issues that come up in a family office or family enterprise are unique to each family and are rarely discussed in a public forum. In this podcast, Family Office Exchange reveals some of these issues in discussions with family office subject matter experts, family members, and trusted advisors. The podcast gives the listener a taste of how having a FOX membership can transform the way families and their trusted advisors approach ideas like philanthropy, governance, investing, and more.
Podcast Insights
Content Themes
The podcast covers themes related to family office management, wealth transitions, philanthropy, and family governance. Episodes feature discussions on topics such as optimizing investment strategies with private placement life insurance, understanding the impact of marriage and relationships within multigenerational families, and innovative approaches to charitable giving with donor advised funds.
The issues that come up in a family office or family enterprise are unique to each family and are rarely discussed in a public forum. In this podcast, Family Office Exchange reveals some of these issues in discussions with family office subject matter experts, family members, and trusted advisors. The podcast gives the listener a taste of how having a FOX membership can transform the way families and their trusted advisors approach ideas like philanthropy, governance, investing, and more.
Today, it is my pleasure to speak with Pete Walther, President and CEO of Marsh McLennan Agency Private Client Services, a Marsh business dedicated to serving the unique needs of family offices. Pete also leads the strategy for Marsh Global Family Office Solutions, which extends beyond traditional insurance solutions to include investment solutions, wealth and tax optimization solutions, executive liability and extortion solutions, and risk advisory services, all aimed at addressing the most pressing matters of family offices.
Beginning his career in banking, Pete spent seven years structuring and managing a senior debt portfolio of highly leveraged commercial clients. He joined Marsh in 1995 to help launch its Private Equity and Mergers & Acquisitions (PEMA) practice. Over the subsequent 15 years, he has led several businesses within the firm, including PEMA North America, Global Alternative Risk Solutions, Marsh Midwest Zone, and PEMA Asia-Pacific based out of Australia.
Pete, and his firm Marsh, are valued long-term members of the FOX Industry Leaders Council and we are very proud to have their expertise as part of the FOX membership community.
Nowadays, families – even those at the top of the wealth pyramid – are facing significant disruptions with the insurability of many of their assets. Pete describes the challenges families and their family offices are experiencing with insurability and what difficulties that creates for them.
Pete outlines the main factors driving these insurability challenges and shares his overview of the major trends that are driving these disruptions.
One important practical consideration Pete emphasizes to families is to develop and maintain a “prevention vs. recovery mindset”. He explains what that means and postulates the key principles of a strong and healthy prevention mindset.
Another important practical tip Pete has for families and family offices is to invest in grassroots literacy, education, and design thinking. He elaborates on that and shares what other opportunities and trends are giving him personally hope for the future resilience of families and their family offices.
Do not miss this highly instructive conversation with one of the top thought leaders and practitioners in the risk management and insurance industry serving top UHNW families, their enterprises, and their family offices.
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