Opal Financial Group - Family Office & Private Wealth Management Forum

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Family Office & Private Wealth Management Forum
"THE RACE FOR RETURNS"
A Private Wealth Series Event

July 18-20, 2011

Hyatt Regency Newport, Newport, RI

	VIEW CONFERENCE DETAILS
	(Agenda current as of 7-13-11)

Monday, July 18, 2011

8:00 am	AMERICA'S CUP SAILBOAT REGATTA Sponsors include: Philadelphia Financial Citi Cross Asset Group Amarach Group LLC JoJo International LLC / Marcellus Partners LP Welton Investment Corporation World Gold Council
8:00 am	Exhibit Set-up
11:00 am	Registration
12:10 pm	Co-Chair Opening Remarks Managing Member, GRAYMATTER STRATEGIES, LLC President, Mack International, LLC Partner and Director of Private Wealth Consulting, Hammond Associates/Mercer
12:20 pm	Now for Something Completely Different… An introduction to Insurance Risk as an asset class CEO and Chairman, Juniperus Capital Ltd.
12:40 pm	Estate and Life Insurance Planning Opportunities Provided By the 2010 Tax Act Partner, Nease, Lagana, Eden & Culley (NLEC)
1:00 pm	The "Dodd Frank Act": A new paradigm for family offices This panel will review the most current SEC decisions defining family offices. Panelists will discuss the options available to non-exempt family offices under the new legislation and the challenges and impact of making those changes. Discussions will include taking an office through the process of registering, chartering or opening the office doors to new clients as well as the fiduciary risk that may be created by making changes to their operating structure. Finally we will touch on best practices and mitigation techniques for managing such risk. Speakers: Senior Vice President, Professional Liability, HUB International Partner, Withers Bergman VP Financial Institutions, Chartis Insurance President and CEO, Okabena Company (MFO)
2:00 pm	Investment Styles and Strategies for Family Offices: the good, the bad and the ugly. Passive investing is the low cost style to allocating capital - is it a bargain or do you get what you pay for? Private equity & hedge funds are the polar opposite to the passive investment style - is the asymmetrical compensation structure worth it? Is Socially Responsible Investing a prudent strategy or is it merely a marketing pitch to tap into human emotions? Under the radar alternative investment strategies that have a compelling risk/reward profile. Best idea for the next 12 months. Moderator: Chief Investment Officer, MASINO FAMILY OFFICE (SFO) Panelists: President, Platinum Partners President, A.J. Sloane & Company, Inc. CEO, Anchor Risk Advisors CIO & Founder, Lily Pond Capital Management
3:00 pm	Afternoon Refreshment Break Sponsored by: Freestream Aircraft Limited
3:15 pm	Asset Allocation: Trends and Drivers in a Changing Environment Asset allocation strategies for family offices Evolving challenges to tax efficient portfolio construction Strategic versus tactical allocations The role of alternative investments Defining and measuring risk in portfolios Moderator: Senior Investment Partner, GenSpring Family Offices (MFO) Panelists: Director of Americas Mega Wealth Sales, Citi Cross Asset Group Principal, Platinum Partners Centurion Credit Management LP Founder, Spring Mountain Capital CIMA, Senior Portfolio Specialist and, President, Global Distribution, Broadmark Asset Management, LLC
4:15 pm	Manager Selection; What should family offices be looking for when selecting managers Alpha vs. Beta: How to identify managers who truly add value. Quantitative vs. Qualitative methods of due diligence Operational Due Diligence Manager Risk: What are the components of risk and how do you identify them? Moderator: Dean's Executive Professor of Finance, Executive Director, SIFIRM, SANTA CLARA UNIVERSITY Panelists: Portfolio Manager, P.A.W. Capital Partners L.P. Founder & Senior Managing Director, Bank Street Capital Partners Chief Investment Strategiest, WisdomTree Asset Management, Inc. Senior Managing Director and Director of Research, Falcon Point Capital, LLC
5:15 pm	Equity Investing - The latest thinking on Current Topics of Interest: Should investors be focused on dividends and total return in their equity portfolios? Should investors be focused on dividends and total return in their equity portfolios? How should investors get equity exposure to the growth in emerging markets economies? What is Fundamental Indexing and why should investors be considering it versus cap weighted indexing? Should investors be considering low volatility equity strategies? What are the key issues to consider when investing in Frontier Markets? Moderator: Partner and Director of Private Wealth Practice, Mercer Panelists: Managing Member, Kelvingrove Partners, LLC COO, Contravisory Investment Management Founder, Beaconcrest Capital Management Partner ,Opus Point Partners
6:15 pm	Cocktail Reception Sponsored by: CREO Select Opportunities Fund, L.P Luxury Sponsor: BRITISH AIRWAYS DAVIDOFF Beverage Sponsors: Narragansett Brewing Company Tequila Don Julio

Tuesday, July 19, 2011

7:30 am	Continental Breakfast Sponsored by:
7:30 am	Private Closed Door Breakfast Roundtable Part 1: "Structuring a Family office" Family Office And Multi - Family Offices ONLY This private, closed-door session will be organized for foundations, family offices, multi-family offices, and accredited high-net worth individuals to address issues these organizations/individuals endure day-to-day. Two family office members will lead the panel in discussions on areas of specific concern. No managers will be allowed in the session, no exceptions. Facilitators: Managing Member, GRAYMATTER STRATEGIES, LLC President, Mack International, LLC
8:30 am	Opening Remarks
8:35 am	Gold:"a commodity like no other" Commodity allocations have become more common among investors as a means by which portfolio diversification can be enhanced. (Globally, commodity assets under management more than doubled between 2008 and 2010 to nearly US$380 billion). However, gold's physical attributes, the sheer diversity of its application and the size of the global gold market set it apart from other commodities. Gold is not only different from other commodities with respect to its performance, volatility, correlation and its composition of demand and supply, the gold market is also very large and liquid. For investors seeking to achieve true diversification, an outright position in gold provides benefits that cannot be replicated by simply investing in a broad basket of commodities. A modest, consistent holding of gold increases long-term risk-adjusted returns in a way that a commodities basket alone does not and an outright investment in gold reduces risk without diminishing long-term returns. Speaker: Investment Research Manager, WORLD GOLD COUNCIL
8:55 am	Why now is a great time to invest in managed futures: History shows Drawdown periods present opportunities for Managed Futures What are the effects of Fed Policy on managed futures How do stagnant economies and a weak dollar policy create additional opportunities in futures Speaker: Chief Executive Officer/Chief Investment Officer, 2100 Xenon

TRACK A

TRACK B

9:15 am

Where have all the Real Assets gone - how to find and create real value".

Niche or mainstream?
Bubbles vs pockets of opportunities
How to get the cycle right
Brave new world or is history repeating itself
When to take the money and run
To invest or not to invest directly, that is the question
How real can your investments get
The do's and don't of real assets
"Rien ne va plus "or "bank"?
Where/who is the weakest link?

Moderator:
Managing Director, Ferguson Partners Family Office (MFO)

Panelists:
Portfolio Manager, PIMCO
Managing Partner, Shinnecock partners
Partner, Snyder Kearney, LLC
Managing Director, Sterling Stamos

Private Equity Fast Track Wealth Strategies

Direct vs. Co-Investment
Recurring Revenue and/or Asset Accumulation
Longer Term Safety vs Short Term Liquidity
Overhead Expense of Private vs Public
Growth Potential - Private vs Public

Moderator:
Director, CI INVESTMENTS (SFO)

Panelists:
Founding Partner, P2 Capital Partners, LLC
Founder, VCFA Group
Partner, Paragon Capital LP
CIO, Elanus Capital

10:15 am

Managed Futures vs Direct Investments in Commodities - Risks vs Rewards of each

How do you choose a manager?
What are internal costs?
How does a rising interest rate environment affect the return and leverage used?
How do you decide on the appropriate allocation?
How different are various funds?
Long vs short and who adjusts when and how?

Moderator:
CFP, President, Chapin Hill Advisors, Inc

Panelists:
Chairman and Chief Investment Officer, Niagara Capital Partners Ltd.
CEO, Telluride Asset Management, LLC
Director of Research, Misfit Financial Group LLC
Fund Manager, EAM Partners LP

Energy: Investment Opportunities and Challenges in Global Energy Markets

Global Energy Price Projections and Is Peak Oil a Reality
Impact of New Drilling Technologies and Shale Gas
Opportunities in the Global Energy Infrastructure Build-Out
Impact of Rising Energy Costs on the Global Economy
Effective Risk Management in Turbulent Energy Markets

Moderator:
Managing Director, L Investments (SFO)

Panelists:
Partner, Tremont Energy Partners, LLC
Chief Investment Officer, Talara Capital Management
President, Apache Energy
Assistant Vice President, FIS Group

11:15 am

Refreshment Break

Sponsored by:
Platinum Credit Management LP

11:30 am

Real Estate's Long Recovery Creates Opportunities

The state of property values: commercial, residential and non-distressed vs. distressed.
Why allocate a portion of your portfolio to the real estate investments? Will it be a stabilizer or catalyst for abnormal returns?
Opportunities in nonperforming loans (NPLs) and the REO Markets
RMBS and CMBS opportunities - legacy bonds and new issue opportunities
Commercial trends & opportunities, a need for multi-family?
What significant challenges face the Real Estate sector? Mortgage Credit availability, Project/Construction financing issues
Determine key resources real estate managers utilize to capitalize on opportunities in this environment
Which strategies provide attractive risk/return profiles: today and in the mid and long-term?

Moderator:
Principal, Raire Family Office (SFO)

Panelists:
COO, Lighthouse Realty Fund LP
CFO & COO, Intercontinental Real Estate
Senior Portfolio Manager, Braddock Financial Corporation
Managing Director & Principal, ViaWest Group

Investing in Credit Through the Cycle:

Where are we in the cycle?
Which credit strategy(ies) (investment grade, high yield, passive distressed credit investing, and distressed for control) should yield the best returns at this point?
How would a rise in Treasury yields effect your portfolio?
With a low default rate, what other opportunities are you investing in
How larges it he is the "wall of maturities" and can it be fixed without the return of a robust CLO market
Are you looking for opportunities outside of the U.S.
Which sectors, of your respective markets, offer the best relative value propositions over the next year?
Sourcing Opportunities in the secondary market: Where are the opportunities?

Moderator:
Partner, VERITABLE, LP (MFO)

Panelists:
Head of Structured Credit, Candlewood Investment Group
President & CIO, DDJ Capital Management, LLC
Partner, Sound Harbor partners
GP/CIO, RockView Capital LLC

12:30 pm

Outlook for Investing in Emerging Markets

Frontier market investing
Beyond BRICs investing

Moderator:
Chief Investment Officer, Pitcairn (MFO)

Panelists:
Co-Chief Investment Officer & Chief Research Officer, Foxhall Capital Management
Executive Vice President, Sierra Investment Management
Senior Portfolio Advisor, DuPont Capital Management
Founder and CEO, Pacific Sun Advisors

The Case for Strategic Life Insurance Planning

Moderator:
Principal, Pelagos Advisors

Panelists:
Sr Vice President Advanced Market Network, New York Life Insurance Company
J.D., Managing Director, MassMutual Financial Group
President & CEO, Philadelphia Financial

1:30 pm

Luncheon

WHAT NEXT FOR THE AMERICAN ECONOMY?

KEYNOTE Speaker:
Professor Martin Feldstein, Board Member, PRESIDENT OBAMA'S ECONOMIC RECOVERY ADVISORY BOARD,
George F. Baker Professor of Economics, Harvard University

2:45 pm

Fixed Income - In Search of Yield and Diversification

Alternatives to municipal bonds during credit and interest rate uncertainty
Traditional core bond portfolios
Broad structured credit and mortgages
Small and middle market corporate finance opportunities
Investing in global and high yield bonds

Moderator:
Director, Greycourt & Co., Inc. (MFO)

Panelists:
Chief Risk Officer, Premium Point Investments
Director of Fixed Income, Rockefeller Asset Management
Managing Member, Hunting Dog Capital, LLC
Managing Director, Cutwater Asset Management

The Return of Life Settlements and More... Why are the best credit funds now investing in the life and longevity market?

What is the investment opportunity? How do we invest? Why should we invest?
Why did the market blow up in 2008?
What about the headline risk of investing in this asset class?

Moderator:
Chief Investment Officer, Osborne Siegel Private Family Office (SFO)

Panelists:
Vice President, Asset Management, Vida Capital Inc
Managing Partner, Priority Life
Director, Transworld Investment Group
Executive Director, Life Insurance Settlement Association (LISA)
CEO, Madison Strategic Partners

3:45 pm

Hedge Funds - The New Era

Role in a family portfolio
Warnings signs and red flags
Liquidity, leverage and other risks
Trends in operational due diligence
Negotiating legal and financial terms
Portfolio construction and risk management
Searching for returns

Moderator:
President, Point Advisors (SFO)

Panelists:
Claros Portfolio Manager, AREA Property Partners
Founder & Chief Investment Officer, Phalanx Capital Management, LLC
Senior Portfolio Manager, Alternatives/Distressed, Artio Global Management LLC
Chairman, WR Platform Advisors

21st Century family Office Caliber Advanced Tax & estate Planning

The Wealth Squad - an unprecedented new level of IRS scrutiny
The new tax laws and cases - how to benefit from them
The most impactful and Advanced Wealth Transfer Strategies
Income Tax planning in the current and evolving environment
International structures, strategies and reporting

Moderator:
Chair of Advanced Planning and Family Office Practice Group, HANDLER THAYER, LLP

Panelists:
Chief Investment Officer and Partner, Aperio Group LLC
Senior Director of Gift Planning, Yeshiva University, The Albert Einstein College of Medicine
Managing Director, Pathstone Family Office (MFO)

4:45 pm

Refreshment Break

Sponsored by:
CreditSights, Inc

5:00 pm

Investing in Alternatives

How to approach alternative investing in cyclical/commodity industries?
Financial engineering through trading and hedging techniques - is it really an alternative any more?
Innovations that solve global problems on a large scale have potential for high ROI, but can be risky. How can the risks be mitigated?
What's broken and what works in venture capital models?

Moderator:
Managing Member, PARK ONE CAPITAL (SFO)

Panelists:
Board of Directors, NanoHoldings, LLC
Managing Partner, TPH PARTNERS
Portfolio Manager, Forward Management LLC
Managing Director, Chief Operating Officer, Louis Dreyfus Highbridge Energy Capital Management

Asset protection steps every family should take, starting tomorrow

Protecting your financial assets and achieving returns despite volatile markets
How non-correlated returns affect your overall investment returns
Tactical vs. buy and hold
New vulnerabilities to consider: health, security, private staff, family governance
Benefits of a proactive focus on prevention vs. seeking the cure after the damage is done

Moderator:
CEO and Founder, Aston Pearl

Panelists:
Portfolio Manager, Visium Tax Alpha Fund
Executive Managing Director, Frank Crystal & Company
VP Institutional Markets, BTS Asset Management
Managing Member, Resource Royalty Fund, LLC

6:00 pm

Best practices for picking Fund of FundS

How do you manage risk on the down side?
Is the prior tack record representative of the current portfolio?
How can a fund of hedge funds demonstrate their due diligence?
What happens to a fund that loses their chief investment office?
Is there a real advantage to size?

Moderator:
Chief Investment Officer, Ascent Family Group (SFO)

Panelists:
Chief Portfolio Strategist, Sandalwood Securities, Inc.
EVP & Managing Director, Embree Capital Markets Group, Inc.
Founder and Managing Director, Moody Aldrich Harvest Fund

Philanthropic Strategies: Defining Absolute Return: " We make a living by what we earn; we make a life by what we give. - Churchill"

What is the best philanthropic structure: foundation, personal giving, community foundation, donor advised fund?
How do we hold the donee organization to a specific ROI?
Is there value in engaging family members in philanthropy?
Anonymous or credited giving: its impact on reputational management?
How do I establish a mission statement and adhere to this?

Moderator:
Chairman, The Wealth & Family Management Group

Panelists:
Founder, Life Strategies, LLC
Fidelity Charitable Services
Manager Director, Anchor Loans

6:45 pm

Cocktail Reception

Sponsored by:
CREO Select Opportunities Fund, L.P

Luxury Sponsor:
BRITISH AIRWAYS
DAVIDOFF

Beverage Sponsors:
Narragansett Brewing Company
Tequila Don Julio

Wednesday, July 20, 2011

8:15 am	Continental Breakfast Sponsored by: American Precious Metals Exchange Inc.
8:15 am	Private Closed Door Breakfast Roundtable Part 2: "Managing Risk in the Entire Family Wealth Portfolio" Family Office And Multi-Family Offices ONLY This private, closed-door session will be organized for foundations, family offices, multi-family offices, and accredited high-net worth individuals to address issues these organizations/individuals endure day-to-day. Two family office members will lead the panel in discussions on areas of specific concern. No managers will be allowed in the session, no exceptions. Facilitators: Managing Member, GRAYMATTER STRATEGIES, LLC President, Mack International, LLC
9:15 am	Welcoming Remarks
9:20 am	"Opportunities and Risks in US Credit Markets" What are the biggest risks to credit investments in the coming years Does the recent Risk-Off trade represent an opportunity High yield vs. equities Monitoring risk in a HY portfolio Speaker: President & Founder, Creditsights, Inc.
9:40 am	"Asset Alchemy in the Uncertain and Volatile 21st Century." Speakers: CEO, American Precious Metals Exchange Inc.
10:00 am	Risk Management: One size does not fit all Investing: While there is agreement that risk management is important, there is no one right way to identify, manage and monitor risk in portfolio management. Panelists will share insights, opinions and different schools of thought on due diligence considerations as relates to some different investment strategies. From enterprise to single family member risk: A family office can find itself exposed to operational related risks as well as unexpected risks due to the action, or lack of action, by just one family member. Panelists will identify some of these risks and offer tips for preventing, correcting or diffusing the situation. Moderator: Chief Investment Officer, Rothschild Family Office (SFO) Panelists: Managing Partner, Lattice Strategies LLC Chief Operating Officer and Chief Compliance Officer, Spruce Private Investors Chief Scientist, Voloridge Investment Management Director, Cape One Financial Master Fund Ltd.
11:00 am	Sustainable Family Wealth - Gone in 3 Generations The Successful Family Strive, Thrive, Survive and Demise Lifecycle Family Sustainable Structure Management of the Family Wealth - Human Capital and Financial Capital The 3 Big Questions: How Much is Enough? When Do You tell Them? How do you prepare Them? Moderator: Managing Partner, U.S. Advisory Group (MFO) Panelists: Principal, The Erskine Company Partner, Intuitae Family Office (SFO) Board Member, RLL Family Office (SFO)
11:45 am	Safe Harbors in a Regulated World? Private Trust Company, SFO, Outsourced Advisors/Trustees and Other Options Do any of these provide safe harbors from SEC regulation, traumatic family and trustee successions and trust taxation? How do they compare in helping families stay together and pursue their goals over generations? What are the relative burdens and expense of each approach? For whom is each most appropriate? Which provide the best investment and operational risk management? Which are best at democratizing wealth management within a family? Moderator: Partner, Duncan Associates, Attorneys and Counselors, P.C. Panelists: President, Pepper International (MFO) Chairman, President, and CEO, Lowenhaupt Global Advisors, LLC (SFO) Managing Director, Wilmington Trust Company
12:30 pm	Consultant Roundtable: You can't create trust out of thin air: why people need help selecting wealth advisors How can we get beyond asking our brothers-in-law for a recommendation or giving our wealth to our fraternity brothers to manage? Before we ask a single question of a prospective wealth advisor, we need to answer a lot of questions about ourselves. What kind of investors are we, what are we and our families like as people, what are our goals, what kind of customer are we likely to be, etc. There are thousands of advisors out there which can make the task seem daunting. How can people smoothly and efficiently winnow down the number of names What kinds of questions should we ask advisors? Can we ask them ourselves, or do we need consultants to help us ask the questions? Moderator: CEO, Spouting Rock Consulting Panelists: Director, Mercer Sentinel Group Managing Partner, RDK Strategies Consultant, Alvery Bartlett Group Vice President, Head of Hedge Fund Research, Wilshire Funds Management
1:30 pm	Closing Remarks

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