Matchmaking Guru Amber Kelleher-Andrews on Changing The World...One Match at a Time

128 Pages·2015·6.28 MB·English

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Matchmaking Guru Amber Kelleher-Andrews on Changing The World...One Match at a Time
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ROLLS-ROYCE MCLAREN
19 BNY MELLON
UNVEILS - WRAITH HONDA
INSPIRED BY FASHION
WEALTH MANAGEMENT
MONACO GRAND PRIX 2015
11 The Softer Side of the Evolving 33
Canadian Family Office
03 TRACING
MASTERPIECE 15
THE PAST
RETURNS FOR ITS 6TH EDITION
THE ORIGIN OF IMAGES
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INVESTMENT
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IRS IMPOSED FBAR PENALTIES
LOYALTY REWARDS: A BETTER
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LUXURY LONDON GUIDE
PRIVATE MEN WHO DREAM OF WINE
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CREATING A STRATEGIC 29
EXECUTIVE SEARCH
EDUCATIONAL ROADMAP
27 WEALTH MANAGEMENT
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SUPERYACHT 51 KELLEHER INTERNATIONAL
DOUGLAS McFARLANE
MATCHMAKING GURU, AMBER KELLEHER-ANDREWS
IVORY TRADE 53 CHANGING THE WORLD..ONE MATCH AT A TIME
US RESTRICTIONS ON IVORY
INVESTING 59
CHINESE POCKET WATCHES 05
UFFO 60
NON-FOR-PROFIT
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FRANK MULLER
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BNY MELLON
The Softer Side of the Evolving Canadian Family Office
Trevor Hunt Anthony J. Messina
The concept of a single family office or multi-family are fundamentally, but not always, dependent on size.
office is fairly new to Canada compared with Europe Substantially larger family offices (over $500 million in
and the United States. However, particularly since assets) can attract talent which can make it economically
2008, there have been an increasing number of family advantageous to carry out a full-spectrum service whilst
offices that have been created upon liquidity events. others may benefit from leveraging resources and
This is typically a result of family assets having grown intellectual capital collectively. The latter describes a
considerably and required specialised expertise or due multi-family office approach.
to first generation family members facing progressively
more complexities and embracing sustainable wealth Putting the investment related activities aside, we are
transfer to the next generation and beyond. Significant noticing an escalating demand for what some refer to as
Canadian families have accumulated wealth through the “softer issues” within the family office environment.
various industries, although, predictably, these have
often been concentrated within commodities, real These responsibilities may include:
estate and infrastructure, and to a lesser extent, 1. Family governance – Most of us have heard of the
technology. Given that our firm’s approach here in shirtsleeves to shirtsleeves phenomenon whereby the
Canada is most similar to that of the investment arm wealth that has been created by the first generation
of a multi-family office, we fully appreciate that no two is significantly diminished if not decimated by the
families and no two family offices are alike. On a case- third generation. Family governance formalises the
by-case basis there should be sufficient flexibility in process for preparing the family to receive the wealth,
deciding which functions are best serviced in-house by rather than merely getting the money ready for the
the family offices versus those services which should family. The first step in this process is establishing
be out sourced, to ultimately maximise efficiencies open communications and trust within and across
and quality of services for the family. These decisions generations. A family office can play a key role here, in
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convening family “get togethers”. These may start by in Canada has given rise to peer group networking
BNY MELLON
being purely social gatherings and gradually progress amongst affluent families who share with each other
to include more formal discussions and exercises. the challenges and the successes of operating a family
This could encompass collaboratively establishing a office in order to establish the optimal practices that
family mission statement, deciding on a family vision may be followed. For instance, earlier this month, one
based on shared core values, and designing a code of of the senior members of our team attended a private
conduct for future meetings. As the family grows in family office conference in the remote location of Banff
numbers and wealth, this often also includes defining in Alberta. The audience included family members
roles and responsibilities, possibly codified in a family and their advisors from around the country with
constitution. representatives from Vancouver, Edmonton, Calgary,
Toronto and Montreal. The agenda, for the most part,
2. Education – A key early step in preparing addressed these softer issues with an emphasis on
families for their inheritance is educating the people within the family office, family dynamics,
beneficiaries so they become better stewards of their governance and education. “By coming together
future wealth. This can start with basic instruction on in a forum such as this, families and their advisors
different types of investments and does not stop at can learn from each other to a. mitigate potential
asset allocation and investment policy knowledge. It pitfalls and b. uncover any hidden opportunities, to
should however include: how to select an investment effectively execute best practices.” Said Trevor Hunt,
manager, that is, both quantitative and qualitative Wealth Director at BNY Mellon Wealth Management in
criteria with arguably a greater emphasis on the latter. Toronto.
One facet to be stressed is a deeper understanding
of the motivations driving an investment manager’s Although the financial assets of the family office
decisions. This can be achieved through asking the may seem paramount, successful multi-generational
right questions e.g. how is the investment manager families have demonstrated the value of developing
compensated? Does he/she have any of their own human and intellectual capital as well. The softer
wealth invested in the underlying strategy? If so, what issues cannot be ignored and are increasingly a focal
percentage of their own wealth is invested alongside point for family offices across the country. This is an
their investors? area where leadership from a single or multi-family
office can be a major plus.
3. Philanthropy – Many financially successful
Canadian families are generous and philanthropy is Anthony J. Messina is the President of BNY Mellon
one area that is relatively easy for the entire family Wealth Management based in Toronto. The Canadian
to be able to participate in. While it’s nice to give business advises on nearly $5bn in assets primarily
family members the chance to allocate some of their through third party investment managers and
charitable gifts to their own favourite causes, we have predominantly for significant Canadian families in
observed that families benefit on many levels when addition to institutions.
they dedicate at least a portion of their donations www.bnymellonwealthadvisory.ca
to “family philanthropy”. By making a collective
decision to contribute to a specific cause or causes
that reflect the family’s values, multiple generations
participate in joint decision making in a feel good,
nonthreatening way. If used correctly, philanthropy
can be an effective tool for evaluating differing
family members’ communication styles and assist in
nurturing decision making capabilities within families
and across generations.
Like other regions, the evolution of family offices
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MATCHMAKING FOR GOOD
KELLEHER INTERNATIONAL
Leading with her heart, Amber Kelleher-Andrews is leveraging the success
of her family business toward no smaller goal than changing the world.
By Mark Dagostino
Amber Kelleher-Andrews thought facilitating love connections for a to acquire her services, and the
she already had her dream job— long list of business leaders, A-list firm takes on around 20 new clients
and with good reason. “How many celebrities, and other high-net- every month. Do a little math and
CEOs are in a position to deliver worth individuals at the top of their it’s easy to understand why she
bliss and companionship and love game. While she keeps the identity might be smiling.
to their clients?” she wonders of her clients closely guarded,
aloud from her offices in sunny the press has credited her with And yet, beyond her company’s
California. “How many other finding matches for pop star Paula financial success and stellar
businesses are businesses of the Abdul, television newswoman reputation for results, Kelleher-
heart?” Hoda Kotb, Olympic Gold Medalist Andrews has always cherished
Bode Miller, and members of the the fact that the firm itself is
For nearly three decades, her firm, DuPont, Getty and Rockefeller a boutique family business. It
Kelleher International, has been families. Individuals pay anywhere was founded by her mother, Jill
recognized as one of the largest from $25,000 (U.S.) for a one-city Kelleher, nearly thirty years ago,
and most-successful high-end search to $200,000 (U.S.) for an and there are numerous members
matchmaking firms on the planet, international search, plus bonuses, of their extended family on staff
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in offices across the U.S. and
Europe, including in London. She
also finds deep satisfaction with
the notion that her profession
is about more than just making
money: It’s a career aimed at
making people happy.
“So to say it’s been a dream job
for me is an understatement,”
Amber says.
Still, after the dynamic and
photogenic Kelleher-Andrews
branched into television back in
2012—lending her talents to a
dating show entitled “Ready for
Love” on the major American TV
network, NBC—she came back
to the office feeling as if she had
something more to give.
“Before I left for the TV show, I
had set up the whole company
so it could work without my
day-to-day management. So
when we didn’t get a second
season of the show, I thought,
Andrews to consider doing far Force For Good,” held twice yearly
‘Well, what do I do now? Do I go
more with her talents, and her on Mr. Branson’s privately owned
back?’ I wondered if I had done
company, than she ever imagined Caribbean retreat, Necker Island.
all of this for a reason, for some
possible. It’s up to her to put together the
greater purpose. I wondered if I
perfect guest list. The idea is to
might be able to use my time to
“He inspired me to think outside “match” world leaders, CEOs,
accomplish something more,”
of a box that I’d unknowingly kept celebrities, models, sports figures,
she says. “That’s when I met
my business in,” Kelleher says. and more, to create a dynamic
Richard Branson.”
“Suddenly I was thinking about group of passionate individuals
how I could leverage my skillset of who will come together to inspire
Sir Richard Branson’s passionate
connecting people into matching each other. It is hoped that these
approach to not only making
people with a purpose—in the dynamic individuals will gather
money but to changing the
interest of changing lives.” new ideas to take back to their
world for the better is, of course,
companies and platforms, all
well known. But witnessing that
That spark led Kelleher-Andrews while forming powerful new
energy in person and learning
down a brand-new path—one friendships—or in some cases
about the powerful influence
that made her “dream job” even relationships—that will ultimately
of Branson’s Virgin Unite, the
better. Today, she co-hosts an make the world a better place.
charitable arm of the billionaire
ongoing series of events with
entrepreneur’s vast array of
Branson and Virgin Unite, entitled, “What we’re sharing is the idea
companies, sparked Kelleher-
“Leveraging Your Influence As a that any business has the ability
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to focus on the planet and people in for inspirational gatherings of all and clothing company) president
addition to profits,” she says, “and sorts—from dinner parties and James Curleigh, and president and
it’s amazing to me how putting the retreats on the California coast, CEO of the NIKE Foundation, Maria
right people together can affect to reunions in Morocco—while Eitel, to name but a few.
change.” also working to match successful,
passionate leaders in business, “Because of the notoriety of my
Kelleher is actively assembling the politics, and Hollywood with the company, people take my call—
guest list for her next event as we philanthropic charities that best suit married, single, it doesn’t matter,”
speak. That means digging into her them. she says. “It’s really interesting.
vast Rolodex of past clientele and They quickly realize this isn’t about
thinking about those individuals Bringing people together for Kelleher International. It’s about
who are in positions of power and something more than love has something more. So people don’t
influence—while also thinking opened a world of possibilities for say, ‘Why did you call me?’ They say,
about who might get along well Kelleher-Andrews, who until now ‘Wow, let’s do it!’”
with whom. rarely had reason to contact clients
she’d successfully matched in the That, in and of itself, is a lesson she
“It’s still about matching people,” past, let alone to introduce them to tries to impart to other leaders. “If
she says, “but I’m able to use my other clients, friends and associates you have the power to do some
intuition, my ability to really get outside of the dating arena. good, and the desire to do some
who someone is—all aspects good, you have more resources at
of them, from personality to “Now it’s a whole different story. I your fingertips than you might have
upbringing to career choices to the start with my database, and then I imagined,” she says. “And you’ll be
position they’re in and what they’ve expand from there,” she says. “Once surprised at how responsive your
accomplished—to inspire change.” I understand who some of the key network will be.”
players are going to be at a given
“The basic concept I’ve learned,” gathering, then I can go off the books So what does all this organizing and
she continues, “is that if we change to invite a celebrity, a musician, “matchmaking for good” actually
the businesses of the world, we will a politician, a VC… and it doesn’t yield? For one thing, the sharing of
change the world. Because of the matter to me if they’re my client or if good ideas.
business I’m in, I know many of the they’re married. I don’t want anyone
top business leaders in the world, to feel that they can’t participate. One of her past invitees was Bert
so I’m in a position to help bring It’s a huge movement of changing Jacobs, the co-founder of “Life is
awareness and show by example business. It would be a disservice to Good,” the ubiquitous New England-
how easy it is to make a significant say you have to be single and you based apparel manufacturer that
contribution to this planet through have to be a client.” The response features uplifting sayings on its
leveraging your influence in has been overwhelming. T-shirts, hats, and accessories. At
whatever industry you are in.” one of the gatherings, Bert shared
According to Branson’s blog, stories about sitting around the
While the Necker Island gathering attendees at Kelleher-Andrews- dinner table in his youth, and how
is perhaps the highest-profile organized events over the past the children in his family were
event on her calendar, this woman two years have included Academy encouraged to share one good
known for power-broker matches Award-winning actress Sally Field, thing that happened to them at
now spends the vast majority of poet David Whyte, Lieutenant school each day. He took that
her professional time bringing her Governor of California Gavin same idea and carried it into his
A-list clientele and friends together Newsom, Levi’s (the American jeans company, asking his employees
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