Print this article
Former FOX President Heads Firm's New Family Institute
Tom Burroughes
13 November 2019
Hawthorn, PNC Family Wealth®, which has launched a suite of services pitched at families looking to thrive and transfer wealth, is to be run by a senior figure it appointed earlier this year from Family Office Exchange. The new group is being formed at a time when, despite all the talk about how people need to be more open about wealth and inheritance, the North American region continues to have a family communications problem. The services will be available later this year.
The new entity is called the Hawthorn Institute for Family Success. Alexandre Monnier has been appointed to lead the implementation of this offering as Hawthorn's managing director of Wealth Sustainability. Prior to this, Monnier was president at Family Office Exchange, the industry network, and worked at FOX for seven years.
"Lack of communication and trust, or insufficient preparation of the next generation often result in failed transfer of wealth from generation to generation. Hawthorn has created the Institute for Family Success because we recognize that it's critical to prepare both the wealth for the family and the family for the wealth," Nicole Perkins, head of Hawthorn, said. "The Institute is designed to address key family success factors, which families and their advisors may overlook. Our ultimate goal is to help our clients and their families successfully navigate the complexities of multi-generational wealth in a holistic manner."
The Institute will offer five core services: Assessments to evaluate the family wellbeing and identify opportunities for improvement; gatherings of like-minded clients to discuss issues associated with family wealth and learn from each other; legacy preservation to help capture a family's history and share it with future generations; family retreats or workshops to learn and work together to manage family success factors better; and family coaching to help identify and address challenges.
"We expect that the services offered through the Institute will differentiate Hawthorn in the industry," Perkins said. "But we're even more fortunate to have Alexandre leading the charge. His deep ties in our client community and extensive expertise in this market allow us to provide our clients with an integrated approach that we are thrilled to be able to offer."
The US-based PNC Financial Services Group uses the marketing name Hawthorn, PNC Family Wealth® to provide investment consulting and wealth management, fiduciary services, FDIC-insured banking products and services, and lending funds through its subsidiary, PNC Bank, National Association.