Ensure understanding of family office structure and operations
3
Understanding the family office's existing art portfolio
4
Study the family's art preferences, aesthetics, and themes
5
Review family office's art acquisition procedures
6
Approval: Art Acquisition Procedures
7
Learn about family office's cataloguing systems
8
Understand the family office's insurance, storage and security procedures for art
9
Familiarize with the family office's art dealers, contacts, and networks
10
Understand the family office's budget, financial constraints, and limitations
11
Educate on regulatory legal matters related to art acquisitions
12
Train on family office's art valuation and appraisal procedures
13
Approval: Art Valuation and Appraisal Procedures
14
Review family office's art loaning and donating procedures
15
Introduction to family office's art dispute resolutions procedures
16
Ensure understanding of the reporting procedures to the family office
17
Approval: Reporting Procedures
18
Assign mentor for continued guidance and support
19
Confirm understanding and acceptance of family office's code of conduct
20
Approval: Code of Conduct
Complete company orientation and overview
Get acquainted with the company's mission, values, and culture. Understand the company's structure, departments, and key personnel. Explore the company's history and accomplishments. Discover how your role as a Family Office Art Advisor fits into the bigger picture. Gain an understanding of the company's goals and objectives. Familiarize yourself with the resources and tools available to you. How will your knowledge of the company contribute to the success of the Family Office Art Advisor Onboarding process?
1
Finance
2
Operations
3
Legal
4
Marketing
5
Human Resources
1
Read employee handbook
2
Attend team meetings
3
Review company policies
4
Tour the office space
5
Meet with your supervisor
Ensure understanding of family office structure and operations
Gain an understanding of how the family office is structured and the roles of different team members. Learn about the different functions and operations of the family office. Explore the various departments and their responsibilities. What impact does a clear understanding of the family office structure and operations have on your ability to effectively advise on art matters?
1
Investments
2
Accounting
3
Legal
4
Operations
5
Wealth management
Understanding the family office's existing art portfolio
Explore the family office's current art collection. Gain insight into the types of art pieces in the portfolio. Understand the significance and value of each artwork. Identify any gaps or areas that require improvement. How does understanding the family office's existing art portfolio contribute to your role as an art advisor?
1
Painting by John Smith
2
Sculpture by Jane Doe
3
Photograph by Robert Johnson
4
Mixed media artwork by Sarah Thompson
5
Installation art by David Lee
1
$1,000,000 - $2,000,000
2
$2,000,001 - $5,000,000
3
$5,000,001 - $10,000,000
4
$10,000,001 - $20,000,000
5
Over $20,000,000
Study the family's art preferences, aesthetics, and themes
Dive into the family's personal tastes, preferences, and interests when it comes to art. Understand their preferred aesthetics and artistic styles. Determine any particular themes or subjects that resonate with the family. How will this knowledge of the family's art preferences influence your advisory role?
1
Abstract
2
Impressionist
3
Contemporary
4
Minimalist
5
Realist
1
Nature-inspired paintings
2
Cityscape photographs
3
Abstract sculptures
4
Figurative drawings
5
Land art installations
Review family office's art acquisition procedures
Familiarize yourself with the family office's processes and guidelines for acquiring new art. Explore the steps involved in selecting, negotiating, and finalizing art acquisitions. Understand the decision-making process and the key stakeholders involved. What challenges may arise during the art acquisition process and how can they be overcome?
1
Limited budget
2
Availability of desired artworks
3
Negotiating prices
4
Ensuring authenticity
5
Navigating legal complexities
Approval: Art Acquisition Procedures
Will be submitted for approval:
Study the family's art preferences, aesthetics, and themes
Will be submitted
Review family office's art acquisition procedures
Will be submitted
Learn about family office's cataloguing systems
Understand how the family office organizes and catalogs its art collection. Familiarize yourself with the cataloguing systems and tools used. Gain knowledge of the documentation and information recorded for each artwork. How does having a comprehensive understanding of the family office's cataloguing systems aid in your role as an art advisor?
1
Digital database
2
Physical inventory log
3
Art management software
4
Customized spreadsheet
5
Specialized cataloguing software
1
Artwork inventory software
2
Barcode scanning systems
3
Digital image repositories
4
Condition reporting apps
5
Provenance tracking platforms
Understand the family office's insurance, storage and security procedures for art
Grasp the family office's protocols for insuring, storing, and securing their art collection. Understand the insurance coverage and policies in place. Learn about the measures taken to protect the artworks from damage, theft, or deterioration. How does this knowledge assist you in advising on art protection and risk management?
1
Climate-controlled storage facility
2
In-house art vault
3
Off-site storage facility
4
Art shipping containers
5
Custom-built display cases
1
24/7 CCTV surveillance
2
Intrusion detection system
3
Access control system
4
Fire suppression system
5
Art transport security personnel
Familiarize with the family office's art dealers, contacts, and networks
Get to know the art dealers, contacts, and networks associated with the family office. Understand the relationships and partnerships established. Familiarize yourself with the reputations and specialties of various art dealers. How can your familiarity with the family office's art dealers, contacts, and networks benefit your role as an art advisor?
1
ABC Art Gallery - Contemporary art
2
XYZ Auction House - Fine art auctions
3
Artistic Creations - Emerging artists
4
Masterpiece Gallery - Old Masters
5
Sculpture World - Sculpture and installations
Understand the family office's budget, financial constraints, and limitations
Comprehend the family office's financial situation and constraints when it comes to art acquisitions. Understand the budget allocated for art purchases. Learn about any financial limitations or restrictions imposed. How does this knowledge of the family office's budget and financial constraints inform your art advisory recommendations?
1
$100,000 - $500,000
2
$500,001 - $1,000,000
3
$1,000,001 - $5,000,000
4
$5,000,001 - $10,000,000
5
Over $10,000,000
1
Limited edition prints
2
Artworks by emerging artists
3
Artwork rentals
4
Art leasing programs
5
Artwork commissions
Educate on regulatory legal matters related to art acquisitions
Familiarize yourself with the legal requirements and regulations surrounding art acquisitions. Understand the potential legal risks and compliance obligations involved. Learn about international laws and customs pertaining to art transactions. How does your knowledge of regulatory legal matters contribute to the family office's art acquisition process?
1
The Visual Artists Rights Act (VARA)
2
The Cultural Property Export and Import Act
3
The Artists' Resale Right (ARR)
4
The Convention on International Trade in Endangered Species (CITES)
5
The Anti-Money Laundering (AML) regulations
Train on family office's art valuation and appraisal procedures
Acquire knowledge and skills in art valuation and appraisal processes used by the family office. Understand the methods employed to determine the value and authenticity of artworks. Familiarize yourself with the documentation and documentation standards for art appraisals. How does your training on art valuation and appraisal benefit your role as an art advisor?
1
Uniform Standards of Professional Appraisal Practice (USPAP)
2
International Valuation Standards (IVS)
3
Appraisal Foundation Guide to Reporting (AFR)
4
The European Art Expertise (EEA) standards
5
Fine Art Appraisals Best Practices (FAABP)
Approval: Art Valuation and Appraisal Procedures
Will be submitted for approval:
Train on family office's art valuation and appraisal procedures
Will be submitted
Review family office's art loaning and donating procedures
Understand the family office's processes and guidelines for lending and donating artworks. Learn about the criteria and considerations for loaning art pieces to external institutions or exhibitions. Explore the procedures for accepting and reviewing art donation requests. How does understanding the family office's art loaning and donating procedures aid in your art advisory role?
1
Reputation of the requesting institution
2
Security measures in place
3
Insurance coverage
4
Exhibition audience
5
Historical significance of the artwork
1
Ensuring proper documentation
2
Assessing the risk of damage or loss
3
Determining fair value for donation
4
Navigating tax implications
5
Safeguarding the family's reputation
Introduction to family office's art dispute resolutions procedures
Become familiar with the steps, protocols, and procedures for resolving art-related disputes within the family office. Understand the different types of disputes that may arise, such as authenticity, ownership, or provenance disputes. Learn about the role and responsibilities of the family office in mediating and resolving art disputes. How does your knowledge of art dispute resolutions contribute to your role as an art advisor?
1
Gathering sufficient evidence
2
Assessing conflicting expert opinions
3
Navigating legal complexities
4
Maintaining confidentiality
5
Preserving family relationships
Ensure understanding of the reporting procedures to the family office
Gain knowledge of the reporting protocols and expectations when providing art advisory services to the family office. Understand the frequency, format, and content requirements of reports. Familiarize yourself with the tools and templates used for generating reports. How does adhering to the reporting procedures ensure effective communication and transparency with the family office?
1
PDF
2
PowerPoint
3
Word document
4
Excel spreadsheet
5
Presentation board
1
Art valuation report template
2
Art acquisition recommendation template
3
Art dispute resolution summary template
4
Art loan agreement template
5
Art donation acknowledgement template
Approval: Reporting Procedures
Will be submitted for approval:
Ensure understanding of the reporting procedures to the family office
Will be submitted
Assign mentor for continued guidance and support
Collaborate with an experienced mentor who will provide guidance and support throughout your onboarding process. Engage in regular meetings and discussions to seek advice and knowledge. Leverage your mentor's expertise to enhance your art advisory skills. How does having a mentor contribute to your growth as a Family Office Art Advisor?
1
Art market trends
2
Art investment strategies
3
Art valuation techniques
4
Negotiation tactics
5
Art industry networking
Confirm understanding and acceptance of family office's code of conduct
Acknowledge and accept the family office's code of conduct, which outlines the expected professional behavior and ethical standards. Understand the consequences of non-compliance with the code of conduct. How does your commitment to the family office's code of conduct contribute to maintaining trust and integrity in your role as an art advisor?
Approval: Code of Conduct
Will be submitted for approval:
Confirm understanding and acceptance of family office's code of conduct
