AWARDS WINNERS 2021 RECOGNIZING LEADERS ACROSS THE FAMILY OFFICE AND WEALTH MANAGEMENT INDUSTRY IN NORTH AMERICA - ClearView Financial Media
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2021
AWARDS WINNERS
RECOGNIZING LEADERS ACROSS THE FAMILY OFFICE AND WEALTH
MANAGEMENT INDUSTRY IN NORTH AMERICA
April 2021
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2021 Recognizing Leaders Across the Family Office and
Wealth Management Industry in North-America
3
AWARDS WINNERS
CONTENTS
FAMILY WEALTH REPORT AWARDS
JUDGING PANEL .......................................................... 4
INTERVIEWS:
Addepar ......................................................................... 7
Advyzon ......................................................................... 9
Anchin ............................................................................ 11
FOREWORD
Bill.com .......................................................................... 13
Black Bag ...................................................................... 15
BMO Family Office ......................................................... 17
Burgher Haggard ........................................................... 19
Tom Burroughes, Group Editor, Family Wealth Report Canoe Intelligence ......................................................... 21
CIBC Private Wealth ....................................................... 23
Delegate Advisors .......................................................... 25
The Family Wealth Report Awards program honors the many out-
Envestnet I MoneyGuide ................................................ 27
standing individuals and firms that add value to their clients’ lives by
Fiduciary Trust Company ............................................... 29
protecting and growing wealth, and who have done so through unprec-
FundCount ..................................................................... 31
edented challenges. At a time when those who look after great wealth
Glenmede ...................................................................... 33
aren’t always appreciated – and are sometimes criticized – this is an
Gresham Partners .......................................................... 35
industry that deserves its due. Without a well-run wealth sector, those
Handler Thayer .............................................................. 37
who build capital, manage companies, create services and products
Integris Aviation Consultancy ........................................ 39
and support philanthropy cannot function so well. This news service
InvestSuite ..................................................................... 41
knows these awards are great ways for industry figures to keep up with
James Grubman & Dennis Jaffe ................................... 43
trends, connect with friends, make new ones and stay competitive. JDJ Family Office Services ............................................ 45
The judging process sits at the core of the awards. A panel of judg- Key Private Bank ............................................................ 47
es, drawn from senior figures in banks, family offices, technology firms MASTTRO ...................................................................... 49
and consultancies, among others, sifts through entrants’ submissions Neal, Gerber & Eisenberg .............................................. 51
to draw up the list of winners. Judges bring their own experience and Northland Wealth Management ..................................... 53
knowledge to the field. In choosing a shortlisted firm or person, and Our Family Office ........................................................... 55
the eventual winner, most of the weighting is based around the quality Pathstone ....................................................................... 57
of the entrants’ submissions for the awards. Crucially, judges are split Pitcairn ........................................................................... 59
into groups so they don’t evaluate entrants from the same sector in PKF O’Connor Davies ................................................... 61
which the judges work. This is done to prevent judges getting confi- PURE ............................................................................. 63
dential information and to eliminate conflicts of interest. A list of judges RBC Wealth Management ............................................. 65
is published on this news organization’s website. We know how hard Robertson Stephens ..................................................... 67
and diligently judges work to arrive at the list of winners and are deeply Ronald Varney Fine Art Advisors ................................... 69
grateful for their effort. SEI ................................................................................. 71
At a time when the importance of reputation is so clear, such awards Summitas ....................................................................... 73
can be effective in marketing and branding. We know from past expe- The Family Office at Synovus ........................................ 75
rience how highly these awards are valued. We also appreciate com- Theia Senior Solutions ................................................... 77
ments from the industry about how to improve the program, such as WE Family Offices .......................................................... 79
how to adjust categories to keep pace with changes in the sector. WealthHub Solutions ..................................................... 81
In the end, these awards are about the people who make this indus-
try tick. These awards salute the grit, excellence and commitment of FAMILY WEALTH REPORT AWARDS
those people. WINNERS & COMMENDED IN FULL ............................ 83
OVERVIEW OF THE NORTH AMERICA WEALTH MANAGEMENT SECTOR
Few wealth management markets have Report, released last year, showed that The past 12 months have seen chang-
been through as big a set of changes as North America took the global top spot in es such as the SEC’s Regulation Best
the North American one. Joe Biden in the 2019, recording 11 per cent growth, and Interest reforms to financial advice – of-
White House has been pushing for tax outpaced Asia for the first time since 2012. ten producing some sharp criticisms –
hikes on HNW individuals and there has Global growth overall grew by almost 9 per and changes to the Accredited Investor
been the impact of a global pandemic on cent reaching $74 trillion in 2019. Clearly, regime, potentially widening access to
the economy and subsequent vaccine these numbers will have to be revised alternative assets such as private equity.
rollout. Wealth management M&A is busy; somewhat when the next sets of statistics Access to private markets by wealth man-
we have seen the ascent of large, nation- roll in. But given how markets held up after agers has been a big theme, and contin-
wide wealth management houses. A year recovering sharply last spring, this should ues. Family offices continue to grow, and
on from the market turmoil of March 2020, translate into respectable numbers. The their virtues as holders of “patient capital”
equities have recovered, fueled by central digitalization of parts of the wealth man- must be stressed. Delivering outstand-
bank liquidity and hopes that vaccinations agement value chain was already under ing client experience is more important
can push back lockdowns. Wealth cre- way before COVID-19 struck. The pan- as a differentiator. Combined with other
ators have had to wrestle with all manner demic accelerated change. Tech adop- demands, firms need more technology,
of challenges, including how they transfer tion that might have taken years to unfold more capital and expertise to keep up
their assets to the next generation – not an happened in a matter of months. Ironical- with the pace. This is arguably driving
easy task in a time of two-way video calls ly, advisors might be closer to their clients’ some of the M&A in wealth management.
and the need to work from home. concerns because of their new ways of 2020 was a banner year for M&A. And this
Capgemini’s annual 2020 World Wealth communicating than before. year might exceed it.
4
Recognizing Leaders Across the Family Office and
Wealth Management Industry in North-America
2021
AWARDS WINNERS
JUDGING PANEL
The 2021 Family Wealth Report Awards program was focused around three main category
groupings: experts (individuals and teams), products and services for wealth managers and
clients, and institutions of all sizes and types in the North American market. Independence,
integrity and genuine insight are the watchwords of the judging process with the judging panels
made up of some of the industry’s top trusted advisors and bankers.
AMANDA ANDERSON THERESA CLARKSON GEMMA LEDDY
Chief Administrative Solutions Architect Partner-in-Charge
Officer InfoGrate PKF O’Connor Davies
Ascent Private Capital Family Office
Management of
US Bank
PATTI BOYLE MICHAEL COLE IDA LIU
Entrepreneur, Entrepreneur, Investor Head of Citi Private
Educator, and Senior Leader - Bank, North America
Consultant Wealth Management Citi Private Bank
BUZZ BRAY LISA FEATHERNGILL CHARLES A
Principal Head of Legacy and LOWENHAUPT
Bray Executive Search Wealth Planning Managing Member
Abbot Downing Lowenhaupt &
Chasnoff
TOM BURROUGHES DOUGLAS FRITZ CHRIS MARTINEZ
Group Editor Founder and President Former Managing
ClearView Financial F2 Strategy Director
Media, publisher of Oakbrook Solutions
Family Wealth Report
JOE CALABRESE AMY HART CLYNE TODD D MAYO
National Head of Chief Knowledge & Executive Director
Investment, Fiduciary Learning Officer UBS Wealth
and Banking Services Pitcairn Management
Key Private Bank
JON CARROLL CAROL R. KAUFMAN JAMES H MCLAUGHLIN
Managing Director, Founder and CEO Founder and CEO
Family Office Advisory Pinventory J H McLaughlin & Co
Services
EY
2021 Recognizing Leaders Across the Family Office and
Wealth Management Industry in North-America
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AWARDS WINNERS
JUDGING PANEL
A shortlist was identified from the hundreds of entries received for these awards and a discussion
took place with the judges to agree the winner of each category. The judging took place in two parts:
the first identified a shortlist from the hundreds of entries we received. This was followed by a
meeting to agree the winner of each category. The judges were divided into 3 panels, dependent on
their industry specialism.
REBECCA MEYER GREGORY F. ROLL SUSAN WINER
Consultant Co-Founder Co-founder and Chief
Relative Solutions Touchpoint Operating Officer
Strategic Philanthropy
DR TANIA NEILD APRIL RUDIN BILL WOODSON
CTO and Owner Founder and President Executive Vice President,
InfoGrate The Rudin Group Head of Wealth Advisory
and Family Office
Services
Boston Private
MARTHA POMERANTZ WENDY SPIRES MICHAEL ZEUNER
Partner, Invetsment Head of Research Managing Partner
Portfolio Manager ClearView Financial WE Family Offices
Evercore Wealth Media, publisher of
Management Family Wealth Report
Trusted advisors were
STEPHEN E PROSTANO WILLIAM TROUT responsible for judging the
Partner, Head of Family Director of Wealth MFO/private banking
Advisory Services Management
categories, MFO’s/Private
PKF O’Connor Davies Javelin Strategy &
Bankers judged the trusted
Research
advisor categories with a third
panel of technology experts
judging the tech categories.
ELISABETH MICHAEL WAGNER This enabled us to ensure that
PRÉFONTAINE Co-Founder and Chief
commercially sensitive
Founder Operating Officer
information was kept
Octonomics Omnia Family Wealth
confidential and conflicts of
interest were avoided.
JOSEPH W REILLY JR BRUCE WEATHERILL
CEO and Founder Chief Executive
Circulus Group Weatherill Consulting
2021 Recognizing Leaders Across the Family Office and
Wealth Management Industry in North-America
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AWARDS WINNERS
BRINGING DATA, TECHNOLOGY AND
PEOPLE TOGETHER AT ADDEPAR
Peter O’Brien, Vice President of Global Sales, talks to Family Wealth Report’s
Tom Burroughes about its award-winning achievements.
What sets you apart What are you going to do to stay on What do you hope will be the result of
from your peers this the front foot in a fast-growing but also receiving this accolade? How does it
year and why? challenging region such as this? help your business in this region?
Addepar was built with Our commitment to R&D-fueled innova- It’s an honor to be named a Consolidat-
a mission to bring data, tion centered on client outcomes has put ed Reporting winner, and it’s a testament
technology and people us in a position to dominate in our core to our team’s hard work and dedication.
together to optimize how markets and expand our business across There are currently $225 trillion of in-
capital is put to work. multiple dimensions. We are continuing to vestable assets globally, siloed without
When the company was invest in timely data and intuitive, cloud- a common platform. The extraordinary
founded in 2009, one of based technology to enable advisors to challenges and disruptions the world and
the most pressing chal- tailor their experience and achieve better broader financial industry faced this past
lenges for those manag- outcomes. year have emphasized our founding mis-
ing complex investment Investing is going through a rapid sion to bring data, technology and peo-
portfolios was the lack of evolution, and there is an overwhelming ple together to maximize the impact of
a high-quality way to ag- number of systems available for wealth this capital. This award further validates
gregate investments and managers to choose from. We’ve com- our technology and will help bring our
easily report results. mitted to an open integrations approach platform to a wider audience.
Our industry-leading, that makes it easier for advisors’ systems
customizable wealth management plat- of choice to work together, allowing advi-
form was built for sophisticated clients sors to centralize financial information in
and aims to solve this issue by offering one place for easy access and greater
specialized data aggregation, analytics transparency.
and reporting solutions. By building a Our approach has been validated by
multi-asset class solution from the ground our rapid growth: In an extremely chal-
up, only Addepar allows advisors to con- lenging environment, Addepar achieved
solidate and manage the myriad dispa- record-high metrics across new clients,
rate assets that make up these complex renewals, referrals, and more than $2.5
portfolios and provide insight to make trillion assets on the platform, with our
better-informed investment decisions in strongest quarter ever and more than 600
real-time. clients to date.
During times of volatility, Addepar of-
fers unrivaled transparency to help wealth
managers understand their portfolios,
measure liquidity and determine alloca-
tion risks. Our flexible reporting tools give
clients the power to quickly create cus-
tomized multigenerational reports that up-
date in real-time, all while strengthening
communications around wealth transfer
and preservation.
Over the past year, we’ve released new
products and services that amplify the ex-
periences and results our clients deliver
to their clients. Most notably, we launched
Marketplace, a new application offered
through Acervus Securities that offers ad-
visors the ability to buy and sell alternative
funds, secondary private company secu-
rities and cash deposit programs in one
place for the first time.
These innovative advances have posi-
tioned us to lead amongst our peers and
provide unprecedented levels of transpar-
ency to advisors, enabling better, more
data-driven decisions.
Exceptional Technology.
Unmatched Service.
Client Reporting Compliance
Billing Portfolio Management
CRM Client Portal & Mobile App
Prospecting Secure Document Management
Your All-in-One Technology Hub.
Advyzon.com 丨 844-829-0039
2021 Recognizing Leaders Across the Family Office and
Wealth Management Industry in North-America
9
AWARDS WINNERS
ADVYZON REMEMBERS THE END-CLIENT
WITH ITS SOLUTIONS
John Mackowiak, Chief Business Development Officer, at Advyzon, talks to
Tom Burroughes, Group Editor of Family Wealth Report on how the firm has
achieved excellence.
What sets you apart from your peers Once development is complete, our This was intentional, in order to ensure
this year and why? Client Service team in particular is heav- that our product was as reliable and ro-
ily involved in testing and review before bust as any on the market– a tenet we
Our focus was on end-user experi- anything is released to our clients. stick to today. We will always prioritize
ence, which is often overlooked in the the quality of our product. Growth comes
race to add features. What are you going to do to stay on as a result.
the front foot in a fast growing but
COVID was impactful in that it quickly also challenging region such as this? Whom do you look to for inspiration
accelerated the transition to digital that and ideas?
we’ve been in for the last decade. Allow- As we always have, we’ll continue to
ing our advisors to seamlessly transition listen to our clients. Industry trends are We look to our clients and staff for in-
to remote work and at the same time pro- certainly important to keep up on, but job spiration and ideas. We have a team of
vide a curated digital experience to in- #1 is to serve our clients. extremely talented and wise individuals
vestors has really differentiated Advyzon. with a diverse set of backgrounds from
We also encourage our team to in- within finance so we get a wide breadth
How have your colleagues novate and anticipate the needs of our of perspectives to inspire our develop-
contributed towards the success of users and their clients. ment and service but our clients truly act
your organization? as our compass.
What have been the challenges you
Everyone at Advyzon contributes to have had to overcome to reach such What do you hope will be the result of
the success of our organization. Our cli- a standard? receiving this accolade? How does it
ent-facing teams, for example, play a big help your business in this region?
role in gathering feedback from current Growth was less of a focus at the be-
and prospective clients. They’ll then work ginning, particularly our first year after We hope that this award helps to con-
with our product and technical teams to launch, which is probably a little dif- tinue to build the Advyzon brand. We are
clearly define both the challenge a client ferent than you typically see in a new excited and honored to be recognized
is facing, along with a solution. technology company. for our work.
Private Client
Congratulations to all the
winners and nominees of
this year’s awards.
We are deeply honored to have been awarded
Best Tax Advisor by Family Wealth Report.
Jared Feldman, CPA Mela Garber, CDFA
Leader Tax Leader
jared.feldman@anchin.com mela.garber@anchin.com
Delivering value to our clients starts with a commitment to designing
and implementing thoughtful tax, estate planning and wealth transfer
strategies. Anchin Private Client combines experience with a talent
for innovation to create customized solutions that fit each family’s
unique situation and vision for the future.
anchinprivateclient.com2021 Recognizing Leaders Across the Family Office and
Wealth Management Industry in North-America
11
AWARDS WINNERS
HIGH COMMITMENT TO CLIENTS’
NEEDS DELIVERS RESULTS
Jared Feldman, Anchin Private Client Leader, talks to Family Wealth Report about
how the firm has put a dent in the wealth sector universe.
How have your cybersecurity, we are able to add value in
colleagues contributed this evolving market. While staying current
towards the success of with complex strategies, we also prioritize
your organization? streamlining information and simplifying
our clients’ financial lives with our family
One thing we have office “personal CFO” services.
learned over our 100-year
history is that you cannot Whom do you look to for inspiration
be successful without and ideas?
great clients and a quality
team. Our ultra-high-net- When putting together a motivated
worth client base requires team to generate the idea flow required to
an accessible, commit- support ultra-high-net-worth families, we
ted team that promptly are fortunate to be able to leverage the
and proactively addresses talent of Anchin’s other industry groups
items of importance, and in addition to our clients’ other trusted
consistently adds value advisors, who work alongside us. Mela Garber
on all types of issues. Tax Leader
Anchin
In serving our clients, we have learned
To achieve this, each client is paired with that the best way to achieve success is to
a uniquely qualified team with a variety of focus on collaboration with all profession-
relevant specialties, leveraging the collec- als on matters related to our clients.
tive talent of our firm. Our team’s constant
cultivation of knowledge, and dedication By doing this, we learn from each other
to anticipating our clients’ needs are key and inspire each other to solve problems,
components of our client service offering. advance new ideas, and ultimately, add
more value to our clients.
As the world has become more com-
plex, our team has become more special- What do you envision for the future of
ized so that we can add value across the Anchin Private Client?
broad spectrum of tax, accounting and
business issues that our clients face. We have built the Anchin Private Client
business into the largest at our firm. We
What are you going to do to stay on envision a steady expansion of service
the front foot in a fast growing but also offerings, aligning with the growth of our
challenging region such as this? team and the continuing education and
investment in our personnel.
One of the most exciting parts about Jared Feldman
advising ultra-high-net worth-clients is We will keep improving our culture, en- Leader
that they are often ahead of the curve in suring that our team has an enriching and Anchin
areas such as investment, art, travel and fulfilling environment in which to grow,
planning. The dynamic nature of our cli- and the resulting continuity helps us bet-
ents and their ever-changing interests ter serve our clients.
provide us with a road map for upcoming
trends. Fortunately, our firm is led by a for-
ward-looking management committee
For example, in 2010, when a client that has provided the right technology
asked us for guidance related to the tax and support needed to grow at the pace
treatment of bitcoin, it became some- we have achieved.
thing we were working with years before it
moved to the front pages where it is today. This growth has allowed our team to
move to a more specialized skill set that
By constantly educating our team about gives us the ability to add value while be-
the intricacies of different types of assets ing nimble, evolving as the needs of the
such as art, private travel, collectibles and ultra-high-net-worth community change.“Bill.com works as superglue with our clients. When you do it right, they’ll never want to leave you.” — Bob Jacobson, Partner, Friedman & Huey Associates LLP Strengthen client loyalty with efficient bill pay Your high-net-worth clients will love the predictability and peace of mind you bring to bill pay—and you’ll appreciate how easy it is to manage it all with Bill.com. Efficient end-to-end bill pay workflows Multiple payment options at your fingertips, to help you pay bills quickly Designed with your privacy and security in mind Start delivering more value today Visit bill.com/wealth-management to learn more.
2021 Recognizing Leaders Across the Family Office and
Wealth Management Industry in North-America
13
AWARDS WINNERS
MAKING LIFE SIMPLER FOR SMALL,
MID-SIZED WEALTH MANAGERS
Tom Burroughes, Family Wealth Report’s Group Editor, talks to Tom Clayton, Chief
Revenue Officer for Bill.com. He leads sales, marketing and strategic partnerships.
What sets you apart bills feature. With our AI-enabled Intelli- The judges were impressed with
from your peers this gent Virtual Assistant (IVA), this new fea- Bill.com's succinct and clear
year and why? ture allows users to significantly reduce
their manual invoice entry and go from submission stating mission,
Bill.com’s mission is an email to invoice entry within seconds. purpose, benefits and statistics
to make it simple for all evidenced in a stand-out
small and midsize com- Additionally, our new Text-to-Connect submission.
panies to connect and option offered the ability to add and con-
do business. nect to vendors with minimal data en-
try, with the option to receive payments
What sets us apart instantly.
from peers is our cloud-
based platform’s ability Whom do you look to for inspiration
to simplify, automate and ideas?
and manage end-to-
end financial workflows Our inspiration is driven by continual-
that help our customers ly connecting with our family office and
process payments in a wealth management customers to learn
solution that offers both the breadth and their pain points, closely analyzing mar-
depth needed to support them. ket trends and directional shifts, and
communicating regularly with our robust
We’ve recently launched our tailored partner ecosystem to better understand
bill pay offering for wealth management where we can support each other.
firms to help them better support high-
net-worth clients. The solution enables What have been the challenges you
firms to shift from a cumbersome and have had to overcome to reach such
time-intensive approach to an automat- a standard?
ed and secure bill payment process.
While improvement is always our end
How have your colleagues goal, success does not come without
contributed towards the success of challenges. For this specific project, our
your organization? key challenge was in offering a broad
solution that could meet the unique needs
Our values at Bill.com are something of both single and multi-family offices,
that we live and breathe - humble, fun, while ensuring that our platform could
authentic, passionate, dedicated - we remain flexible enough to provide that
believe that our company requires a tailored support. We are happy to say we
team-effort each and every day to meet succeeded in meeting that challenge.
the specific needs of this industry. It is
this mentality that we are able to best What do you hope will be the result of
serve our customers with the speed and receiving this accolade?
rigor required.
Bill.com is humbled by the recognition
What are you going to do to stay on from Family Wealth Report. Our goals
the front foot in a fast-growing but from this award remain the same as our
also challenging area such as this? company objectives: to better serve our
customers, solve their pain points, and
Innovation is a core part of our com- build a network effect so that more and
mitment to customers. For us, the pan- more companies can take advantage of
demic has accelerated innovation and the time and money savings to better run
adoption of new technologies in our mar- their business.
ket significantly. On top of our base level
offerings, which includes automated bill Bill.com is thrilled to win the FWR
payments, and multiple flexible/fast pay- Award for Technology for our Bill Pay
ment options, we also rolled out a 1-click wealth management offering.2021 Recognizing Leaders Across the Family Office and
Wealth Management Industry in North-America
15
AWARDS WINNERS
BLACK BAG HELPS CLIENTS NAVIGATE
MEDICAL SYSTEM DURING TESTING TIMES
Chris Sidford, Founder Of Black Bag, talks to Group Editor of
Family Wealth Report, Tom Burroughes.
What sets you apart on clients’ behalf, making them more in-
from your peers this formed patients who make smarter deci-
year and why? sions. In an acute medical crisis, this is
invaluable .
Black Bag has one
mission: to protect the What have been the challenges you
health of our clients, their have had to overcome to reach such a
families, friends, and col- standard?
leagues. Nothing makes
this goal more relevant Black Bag has shifted our delivery mod-
than COVID-19. While el to cover long-terms needs, and not just
shorter-term travel has travel clients. We have capitalized on the
declined dramatically, mandate of telemedicine as in-person vis-
extended private travel its became impossible.
has increased, as clients
direct their attention to Black Bag uses secure electronic doc-
controlling contact with umentation. These digital records, in Christopher Sidford
the virus. In addition conjunction with personal physician ad- Founder
Black Bag
to daily medical care, our experts have vocates, are essential in an internation-
adapted to this unprecedented global al setting where global communication
crisis. Black Bag’s helps clients navigate barriers may be involved.
a complex medical system, now under We are deeply indebted to Dr. Sidford’s
siege by the pandemic . These records are equally important accurate forecasting and clear-head-
locally, where care in complex medical ed, confident, caring advice. He is not
How have your colleagues contributed circumstances has been restricted due to only a highly knowledgeable physician
towards the success of your COVID-19. Comprehensive knowledge of and crisis responder, he is a terrific hu-
organization? clients’ medical history ensures they will man being.” Don and Sarah McMillan,
receive the most informed care and ad- McMillan Education
Black Bag electronically follows cli- vice. Black Bag provides timely commu-
ents to remoted locales; our doctors are nication in rapidly evolving medical situ- What do you hope will be the result of
constantly absorbing new information, ations that require an immediate reaction receiving this accolade? How does it
including evolving pandemic data. We response. help your business in this region?
have expanded our experts to include a
pediatric emergency medicine physician, Whom do you look to for inspiration Primarily, Black Bag wants individu-
a world-renowned wilderness medicine and ideas? als to be aware that there are options in
doctor, a functional medicine team, a crit- medical care that allow people who lead
ical care physician, and a Ph.D. in phar- We look to our clients for inspiration. complicated, global lives to greatly bene-
macology. These specialists allow clients fit from the level of service and scope of
layered access to experts, depending “Dr. Chris Sidford has been a gift to expertise that Black Bag provides.
on their varying degree and intensity of our family during these uncertain times
needs. of COVID-19. Guiding us with his deep
medical expertise, delivered with his sig-
What are you going to do to stay on nature reassuring, calm and compassion-
the front foot in a fast growing, but ate manner, Chris first helped us during
also challenging region such as this? a moment of heightened stress while
traveling abroad to get home safely and
Black Bag has augmented our efforts with considerably less anxiety. He also
to help patients protect household staff provided the information we needed to
and business interests. We are placing a make critical decisions about travel and
greater emphasis on contingency plan- our family-owned business, ahead of the
ning. This includes research on foreign rest of society’s response to the pandem-
preparedness around COVID-19, local ic, allowing us to protect our employ-
medical information, facility constraints, ees’ well-being and shift our business
CDC travel warnings, and expanded practices to meet the new demands
supplies. Black Bag’s physicians speak facing all of us.Because there’s
more to wealth
than creation.
Pre-Liquidity Planning. Tax Advisory.
Investment Strategy. Preparing the
Next Generation.
Shannon Kennedy, Global President Wealth brings many opportunities, but managing it can bring complex
BMO Family Office
A Part of BMO Wealth Management
challenges. BMO Family Office is here to guide you and your family
Shannon.kennedy@bmo.com through the many components of wealth management.
877-225-3863
We are proud that we have been recognized for building a workplace
culture that celebrates diversity and inclusion as an engine of growth.
Learn more at bmofamilyoffice.com
BMO Family Office is a brand delivering family office services and investment advisory services through BMO Family Office, LLC, an investment adviser registered with the U.S. Securities and Exchange
Commission; investment management services, trust, deposit and loan products and services through BMO Harris Bank N.A., a national bank with trust powers; and trust services through BMO Delaware
Trust Company, a Delaware limited purpose trust company. Investment products and services: ARE NOT A DEPOSIT – NOT INSURED BY THE FDIC OR ANY FEDERAL GOVERNMENT AGENCY – NOT
GUARANTEED BY ANY BANK – MAY LOSE VALUE. The Family Wealth Report (FWR) is a financial services industry trade publication that produces awards annually. A panel of independent industry experts
selects the nominees and winners based on a number of qualitative and quantitative factors. FWR received 420 submissions across 50 award categories in 2021. BMO did not pay a fee to be included in
this evaluation. C11#12530936 03 / 21-06812021 Recognizing Leaders Across the Family Office and
Wealth Management Industry in North-America
17
AWARDS WINNERS
PUSHING FOR A SUSTAINABLE, INCLUSIVE
SOCIETY WITH A THRIVING ECONOMY
Tom Burroughes, Group Editor of Family Wealth Report, talks to Shannon Kennedy,
Global President of BMO Family Office, and Darrel Hackett, President of
BMO Wealth Management – US.
What is behind this employees have access to coaching, Judges picked out their winner
award and what does it career development and mentoring to based on a very detailed and
mean for your enhance professional growth.
organization? specific submission which
Finally, BMO implemented our Zero Bar- focussed on its Black and
BMO’s purpose is to riers to Inclusion 2025 program, which is Latino Advisory Council of
Boldly Grow the Good a multi-year strategy that supports equity, senior leaders at the firm, which
in business and life. We equality and inclusion. Among our goals
is concerned with the employee
are striving for: a thriving for the program are increased leadership
economy; a sustainable opportunities for minority employees and experience, advancement, and
future; and an inclusive support of minority-owned businesses. the engagement of Black and
society. These objectives Latino talent. They noted too
frame every decision we We also strive to ensure that women are that 40% of the bank’s senior
make as an organization. represented in senior leadership positions
at BMO. At the moment, 40 per cent of the leadership positions are held
Recognizing BMO Fam- senior leadership positions at BMO are by women.
ily Office for our achieve- held by women. That’s a great number
ments in Diversity in and we can keep building on it.
Wealth Management is an honor. It is a
testament to our commitment to diver- How else does BMO Family Office
sity and inclusion and underscores the stand out among peers?
steps we are taking in this area.
For our clients, BMO Family Office aims
What are some of those steps your to make a meaningful difference in the
organization is taking in support of lives of the individuals, families and fam-
diversity in wealth management? ily offices that we serve. We strive to un-
derstand what is truly important to each
While these issues have been import- client. We then bring the right people,
ant to BMO for some time, the spark that knowledge and experience to the table to
accelerated our work here was during the achieve those goals.
summer of 2020, when protests against Shannon Kennedy
police brutality triggered demonstrations Our philosophy is grounded in the belief Global President
in Chicago and cities across the United that wealth is enhanced when managed BMO Family Office
States. in a holistic, integrated manner. We aim to
bring together investments, tax planning,
Our senior leaders spearheaded a se- capital needs, business succession, phil-
ries of company-wide webcasts and dia- anthropic goals, next generation educa-
log sessions to allow employees to come tion, etc. in a cohesive manner that helps
together around a topic many had not clients see their goals and reach them.
raised at the office before. Thousands
of employees of all races across the For our employees, we offer an exhil-
country dialed in to participate in these arating place to work! We are privileged
meaningful exchanges. to serve some of the wealthiest clients in
the US and Canada. The needs of these
Subsequently, we established the Black ultra-affluent clients are complex and the
and Latino Advisory Council. Comprised engaging part about our work is custom-
of senior leaders at the firm, this Council izing solutions to fit each need. Our com- Darrel Hackett
focuses on the employee experience, ad- pany brings together employees from a President
BMO Wealth Management – US
vancement, and the engagement of Black variety of backgrounds and locations,
and Latino talent. each with unique perspectives.
Recently, the Council launched a pow- This melding of ideas makes for a richer
erful mentoring program that connects workplace and ultimately strengthens our
our minority employees with senior em- offering. And most importantly, we have
ployees. The initiative aims to ensure that fun along the way.Private Wealth, Energy, Real Estate & Construction,
Private Equity, Tax Services
burgherhaggard.com
Copyright © 2021 Burgher Haggard. All rights reserved2021 Recognizing Leaders Across the Family Office and
Wealth Management Industry in North-America
19
AWARDS WINNERS
A “CONTROLLER-DOWN” OF FAMILY OFFICES:
THE BURGHER HAGGARD FORMULA
Clint Haggard, President of Burgher Haggard, talks to Tom Burroughes,
Group Editor of Family Wealth Report, on how his firm has stood apart.
What sets you apart
from your peers this
year and why?
Burgher Haggard is
a boutique service pro-
vider of outsourced
accounting and finan-
cial administration ser-
vices. Bedford and I had
worked as CFOs, board
members, advisors, and
independent Trustees
for multiple large families
in Texas, Colorado, and
Arkansas. We realized
how much money was
spent on the back office
including accounting , reporting, record
keeping – and how far services fell short
of what was needed. We are accountants
Clint Haggard Bedford Burgher
for the most part, with a constant curiosity President Managing Member, Director of Tax Services
for technology to improve efficiencies. Burgher Haggard Burgher Haggard
We are focused on being the “Con-
troller-down” of someone’s family office. clients that have enabled us to continue to us to firms within the same industry with
Each family is assigned a virtual team at move forward despite the environmental whom we can knowledge share.
our office in Fort Worth, Texas, to perform challenges of the past year.
a scope of services that typically includes Whom do you look for inspiration and
process based, non-strategic tasks: mail What are you going to do to stay on ideas?
pick-up, scanning, electronic document the front foot and stay ahead of the
management, bill pay, wire initiation, pay- competition? With the absence of many peers, we
roll processing, bank account reconcilia- have had to look within our organization
tion, high-volume credit card categoriza- We constantly evaluate our processes for innovation; encouraging team mem-
tion, investment reporting, consolidated and technology to ensure we are staying bers to invest time and effort into evalu-
financial reporting, and federal and state up to date with technological advances ating our clients needs and how we can
tax compliance. and providing our clients with the most meet them. Our team members continue
efficient service. Our teams meet weekly to amaze us with their drive to innovate
Our goal is to help simplify the com- to discuss processes and client require- and evolve.
plexities of wealth by generating drill-thru ments to ensure we are learning from
consolidated financial reports that help each other and sharing knowledge within What do you hope to be the result of
clients understand what they have and our firm. Team members across our orga- winning this accolade?
how it’s doing. nization bring ideas of how we can meet
the ever-changing needs of our clients. We hope the award will help illuminate
How have your colleagues contributed what services clients can entrust to us
to the success of your organization? What challenges have you had to so they are able to spend their time and
overcome? efforts on what they desire.
We are built using a team model. Each
client is assigned a virtual team which There are not many firms doing what
enables us to provide clients with com- we are doing: providing accounting and
prehensive, high touch service with full bookkeeping services apart from invest-
segregation of duties. Every team mem- ment advisory, so it can be difficult to
ber brings his or her own expertise and find peers in the marketplace. That is one
commitment to our clients. We are grate- reason we appreciate organizations such
ful for the agility of our team members and as the Family Wealth Report that connectYour Alternative
Investment Data,
Unlocked.
Family Offices are Building Their
Alternative Investment Data
Infrastructure with Canoe
Automate document retrieval Control workflows and data
Power downstream reporting systems Onboard clients efficiently
Expedite client reporting and billing Eliminate painful data migrations
See Canoe In Action
canoeintelligence.com2021 Recognizing Leaders Across the Family Office and
Wealth Management Industry in North-America
21
AWARDS WINNERS
CREATING PURPOSE-BUILT
SOLUTIONS FOR CLIENTS
Mike Muniz, Partner and Chief Revenue Officer at Canoe Intelligence, talks to
Tom Burroughes, Group Editor at Family Wealth Report.
What sets you apart Our culture is steeped in innovation.
from your peers this We are continually rethinking the way we
year and why? solve client challenges and we’re always
searching for the most efficient and cre-
What makes Canoe ative ways to help alternative investors
stand out? Our tech-for- scale their businesses. It’s this iterative
ward approach to solving mindset, that has led us to develop the
operational challenges Canoe product as it is today.
head-on for our clients. Within the last 12 months, we’ve re-
Since Canoe technolo- leased Canoe Connect, which automates
gy was incubated with- document retrieval from portals. We’ve
in a private investment also enhanced our offering to extract data
firm in 2013, we have from more complex documents like finan-
been building an entire- cial statements.
ly unique shared intelli- We’ve been fortunate to assemble an
gence designed to solve incredible and humbling group of clients,
a pervasive challenge but we also feel as though we are in the Mike Muniz
among alternative inves- early days of our product development, Partner and Chief Revenue Officer
Canoe Intelligence
tors. As this has grown, our clients have and are excited about the future and con-
been able to leverage this ever-growing tinued growth of the product for our cli-
collective network to reliably extract data ents.
based on other learning in the system, Moreover, having a team full of indus-
and then create bespoke patterns to meet What have been the challenges you try practitioners amplifies our creativity
their needs in seconds. With this, clients have had to overcome to reach such a and allows us to spearhead the evolu-
are empowered with greater speed and standard? tion of how to best manage alternative
accuracy in not only completing required investments. Our clients push us to con-
client reporting but also in creating new The past year has certainly posed chal- tinue innovating, testing, and building
opportunities for deeper data access and lenges to the entire world and created new purpose-built solutions.
analysis. Lastly, our blend of industry ex- paradigms for working. Our cloud-based
perience with advanced ML and AI has technology allowed Canoe’s business to What do you hope will be the result of
positioned us to understand nuances and go uninterrupted with no loss in efficiency receiving this accolade? How does it
details needed to solve challenges we for our team or for our clients. help your business in this region?
faced when we were in their shoes. Canoe’s machine-learning and AI plat-
form continues running, learning, and We are honored to be recognized by
How have your colleagues contributed processing client documents, even when Family Wealth Report in the Onboarding
towards the success of your employees aren’t working. category. Receiving this award validates
organization? We’re proud of what our team was able the tech-forward approach we’ve taken in
to accomplish for our clients over the past building our company and in reimagining
We’re very fortunate to have a highly twelve months in bringing stability, effi- alternative investment data processes for
unique mix of technology talent and in- ciency, and automation to an otherwise our clients.
dustry expertise. As we’ve built out our evolving and sometimes chaotic working With additional awareness of Canoe
teams, we’ve focused on hiring individ- environment. and our approach, we hope to help many
uals with alternative investments and more family offices and wealth managers
private capital markets backgrounds. Whom do you look to for inspiration reduce friction in change management,
It’s critical that we really understand the and ideas? unlock their alternative investment data
industry’s challenges, its evolution and and scale their businesses.
have personally felt the operational pains Our clients are our inspiration. As we lis-
associated with alternative investment re- ten to their challenges, it’s our responsibil-
porting. We believe this client perspective ity to translate their ideas into actionable
is key in configuring new environments and technology solutions. In working with our
building the right products for our clients. innovative clients, we’ve uncovered new
ways that Canoe can be used to empow-
What are you going to do to stay on er data science initiatives and streamline
the front foot in a fast growing but also how clients can gather documents from
challenging region such as this? multiple, distributed portals.YOU DREAM. WE PLAN. At CIBC, we provide a full suite of investment management, wealth planning, trustee services and private and commercial banking solutions tailored to your personal and business objectives. CIBC Private Wealth congratulates all 2021 Family Wealth Report award finalists! Connect with an advisor today. 120 S. LaSalle Chicago, IL 60603 312.564.3806 inquiry@cibc.com wealth.us.cibc.com This ad is not to be construed as an offer to buy or sell any financial instruments. CIBC Bank USA, Member FDIC and Equal Housing Lender. CIBC Bank USA and CIBC Private Wealth Group, LLC are both indirect, wholly owned subsidiaries of CIBC. Private and Commercial Banking solutions provided by CIBC Bank USA. The CIBC logo is a registered trademark of CIBC, used under license. Investment Products Offered are Not FDIC-Insured, May Lose Value and are Not Bank Guaranteed.
2021 Recognizing Leaders Across the Family Office and
Wealth Management Industry in North-America
23
AWARDS WINNERS
A ROBUST MIX OF SERVICES FROM
CIBC PRIVATE WEALTH
John S. "Jack" Markwalter, Jr., CEO, CIBC Private Wealth, US, talks to
Tom Burroughes of Family Wealth Report.
Ohm Srinivasan
Frances Dave Donabedian Gary Pzego Head of Manager Tricia Bannan
Boatwright Chief Investment Head of Fixed Research & Alter- Head of Equities
Sr. Equity Trader Officer Income native Investments
Judges were impressed with Chief Investment Officer Dave Donabedian’s
consistent, insightful financial market analysis and CIBC’s Investment Team’s
disciplined, yet flexible approach which has been critically important to CIBC’s
success in retaining clients and growing the business.
What sets you apart from your peers • CIBC Family Office: Enhanced Whom do you look to for inspiration
this year and why? offering and service model for UHNW and ideas?
Most importantly, we are committed to clients Our clients and our colleagues inspire
acting in our clients’ best interests, with a • Technology: Expanded digital me daily. As their long-term trusted advi-
goal of providing the highest quality client processes and progressed with sor, it is our honor to help them achieve a
experience in the industry. business transformation sense of satisfaction and joy about the use
This commitment, together with the • Engagement: Expanded our of their wealth, their family and the causes
combination of four key factors, truly sets mentorship program and diversity and they uphold.
CIBC Private Wealth apart in the industry: inclusion efforts Additionally, the way our team members
1. Proven, diversified investment have stepped up and gone above and be-
platform What are you going to do to stay on yond in the last year inspires me as well.
2. Cohesive wealth planning and trustee the front foot in a fast growing but also
services challenging region such as this? What do you hope will be the result of
3. Tailored private banking solutions As we progress toward a post- receiving this accolade? How does it
4. Superior Client Service COVID-19 environment, innovation and help your business in this region?
With 22 offices across the US, we de- adaptability will be key to our success. Being recognized by such a highly re-
liver a robust complement of investment Our investment experts will examine garded publication in the financial industry
management, wealth strategies and pri- three major issues affecting the global among other deserving industry peers is a
vate banking solutions. Clients also bene- economy and investment opportunities: true honor. This accolade acknowledges
fit from CIBC’s commercial banking solu- growth, inflation and policy. our firm’s commitment to our clients, as well
tions and capital markets capabilities. We are committed to remaining on the as the dedication and creativity of our pro-
cutting edge by providing analysis and in- fessionals. It is also an excellent way to con-
How have your colleagues contributed sights on what investors should consider nect with others within the industry as we
towards the success of your for their portfolios and wealth plans during continue to evolve and address our clients’
organization? these uncertain times. needs as we grow and build our firm.
Our success has been driven by out-
standing teamwork and exceptional lead- What have been the challenges you
ership in the following areas: have had to overcome to reach such a
• Investments: Delivered insightful standard?
commentaries and strong performance In the face of 2020’s extraordinary
• Wealth Strategies: Recommended pro circumstances, including 90% of CIBC
active, actionable planning techniques Private Wealth’s professionals work-
• Private Banking: Helped clients take ing from home for a time, the firm has
advantage of low rates and expanded demonstrated flexibility, while rapidly re-
offering* sponding to the evolving global health,
• Communications: Increased timely, economic and political situation.
mixed media resourcesSAN FRANCISCO — CHAPEL HILL
www.delegateadvisors.com
919-932-84002021 Recognizing Leaders Across the Family Office and
Wealth Management Industry in North-America
25
AWARDS WINNERS
A CALM VOICE FOR CLIENTS IN
ANXIOUS AND TURBULENT TIMES
Andy Hart, CEO of Delegate Advisors, talks to Tom Burroughes, Group Editor of
Family Wealth Report, on its award-winning prowess.
What sets you apart How have your colleagues contributed a member of our family with a dedicat-
from your peers this towards the success of your ed, fiduciary mindset. We hope that the
year and why? organization? demand for fiduciary, conflict-free ad-
vice continues to spread throughout
This past year was one In addition to launching Mission Dele- the financial industry, elevating investor
of confusion, anxiety and gate, our team has also firmly embraced expectations about the wealth manage-
information overload…. a strategy to offer impact and ESG invest- ment relationship. We want the relation-
and it was different than ment options to our clients. Over the past ship dynamic to move towards advocacy,
any other time any of us few years, the conversation around im- without the cloud of conflicts of interest.
have ever known. We pact investing and ESG investments has The more people realize this is an option,
had more time than ever evolved and become more prevalent -ex- the better off we’ll all be.
to focus on our families isting clients, as well as new clients, have
and our work. Our prior- a desire to align their portfolios with their
ities became clear – to values. We’ve put an incredible emphasis The judges unanimously chose
provide clarity, calm, in- on building out this capability. Impact in-
Delegate Advisors as
formation and prudent vesting is not just about doing good. It’s
advice amidst the global about doing well while doing good. category winner and they
storm that was COVID-19 picked out Delegate’s “horizon
and the US election. Whom do you look to for inspiration model” planning as being of
and ideas? particular importance. Several
Amid the social unrest, we evaluated
Delegate’s own internal mechanisms to Our clients are a constant source of
case studies of out-of-the-
encourage a culture of giving back, social inspiration and ideas. We have the privi- ordinary financial guidance
activism, passion-driven activities and lege of working with some of the bright- were provided.
thus launched MISSION DELEGATE. est minds in the world – some of whom
are innovators in new technologies such
Mission Delegate will serve as a con- as genomics, AI, and crypto-related
duit through which the contributions and technologies. These clients are devel-
efforts of our team and clients can be oping their own companies, and, at the
magnified via company financial match- same time, they are supporting the work
ing and support. We will do this in several of others who are building transformative
ways: businesses. This may sound a bit like
“Tomorrow Land” at Disney World, but
• Delegate will monetarily support the the pace of change is quickening, and
philanthropic and volunteer efforts of these clients provide us with a window
our employees through a formal into the future.
matching program. This consists
of matching every dollar of employee What do you hope will be the result of
contribution made to the program of receiving this accolade? How does it
the team’s choice; help your business in this region?
• Time off for team members to
contribute service hours; Amid the current instability stemming
• Team projects organized during work from the coronavirus pandemic and oth-
hours; er geo-political events from 2020, many
• Discussion groups on books, films of us are left with an unsettling feeling of
and music to open the door to uncertainty about where we are headed.
otherwise difficult/awkward
conversations, sharing knowledge and Our team stands with our clients to
experiences; and work through everything that keeps them
• ESG-oriented 401K funds available to up at night, addressing each challenge
employees. and question as though it came fromYou can also read
