The role of the Family Advisory Board will be similar to that of a board of directors in the corporate world and will provide business acumen to the management of the family’s wealth.
The members of the Family Advisory Board will meet on a quarterly basis to address so-called “hard” issues (i.e. tax, investment, estate planning, strategic planning, etc.) facing a family and to provide direction to the management of the family office. The board members will include Dennis Nerland, David V. Richards,Dr. Lloyd Steier, and Kevin Algar. As full-time professionals with decades of experience running their own firms specializing in tax and estate planning, Kevin and Dennis will assist in considering current business and tax strategies. As CEO of Genn, Kevin’s presence on the Family Advisory Board will ensure integration of the Board’s directives with the day-to-day operations of the family office.
Each family may appoint one or more family members to the Family Advisory Board. We recognize that many families will have established relationships with trusted advisors external to Genn. We recommend that such advisors be included on the Family Advisory Board. Such collaboration will only enhance the value Genn brings to its families.