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NOVEMBER 2016 SFBWMAG.COM 7.95 Image Skincare approaches 100 million in sales Janna Ronert Where can we help you next Over three decades of experience advising clients on strategic acquisitions and dispositions and providing landlord representation tenant representation property management and construction management services. We bring you real estate solutions around the block or around the world. SF 10 5 4 - 3 BLE 0 A 06 AIL 1 AV Fountain Square Boca Raton FL A 241 000 square-foot Class-A office property consisting of three separate buildings surrounding a lush courtyard and prominent fountain with an on-site cafe. Major renovations have been completed including painting of building exteriors new monument signage landscaping roof and HVAC systems covered parking and curb parking lot improvements. The property is just minutes to I-95 and the Florida Turnpike. Numerous dining shopping and banking amenities nearby. Golden Bear Plaza Palm Beach Gardens FL A 243 000 SF Class-A office complex with beautiful Intracoastal and ocean views with lush landscaping. Located just north of PGA Boulevard on US 1. Flagler Waterview West Palm Beach FL Stunning space exquisite rates Enjoy Class-A office space with stunning water views and fantastic amenities close to I-95 and the hospital. 4400 PGA Boulevard Palm Beach Gardens FL This newly renovated 10-story 80 000 SF office building enjoys a highly visible and prestigious location at the intersection of PGA Blvd. and I-95. West Palm Beach 561 471 8000 www.mhcreal.com Boca Raton 561 394 5200 Innovative approach. At Gunster value is measured not only by our commitment to clients but also our dedication to partner with the communities we call home. As innovators connecting the dots between community and business our attorneys seek to effect positive change by assuming leadership roles in civic industry and charitable organizations across the state. Serving clients in Florida s top industries with value-driven solutions Gunster attorneys are poised to lead in the boardroom and beyond. With 13 Florida offices Gunster is statewide and statewise. Gunster.com (800) 749-1980 www.sfbwmag.com NOVEMBER 2016 3 RIVA Days. Live on the water. Play on the water. Residents enjoy Riva s riverside park and Water Sports Center for paddleboards kayaks water-skiing and boat rentals. Live in the city. Play in the city. Residents love neighborhood icons like Casa D Angelo Gateway Theater and Whole Foods. And along with the walkability they enjoy their private water taxi to tennis in the park and shopping at Galleria. We are pledged to the letter and spirit of the U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race color religion sex handicap familial status or national origin. Oral representation cannot be relied upon as correctly stating representations of the developer. For correct representations make reference to the documents required by section 4 NOVEMBER 2016 www.sfbwmag.com RIVA Nights. Live in luxury. With an indoor-outdoor carefree lifestyle. Riva s large elegant homes come with 1 or 2 exceptionally large ocean and city view terraces the perfect spot for a dinner party under the stars. Live in the heart of the best of Ft. Lauderdale. With the perfect combination of waterfront location oceansunset views resort amenities and large comfortable homes. Just in time to move-in next Summer. Two & Three Bedrooms from the 700 s to over 3 million. Sales center open at 1200 E. Las Olas Blvd. 954.233.3288. riva-condo.com. PREMIER DEVELOPERS 718.503 Florida Statues to be furnished by a developer to a buyer. Obtain the property report required by federal law and read it before signing anything. No federal agency has judged the merits or value if any of this property. All features dimensions drawings graphic material pictures conceptual renderings plans and specifications are not necessarily an accurate depiction and are subject to change without notice and Developer expressly reserves the right to make modifications. TABLE OF CONTENTS 14 SPACES Want to live on the region s last developable private island 50 EXECUTIVE ROUNDTABLE 94 TECH HUB Insights from leaders at Carnival UDT and TradeStation on growth and risk IT Palooza 2016 wil spotlight the cloud security and internet of things 18 ONE LINERS Catch up on the news you missed from around the region 52 EDUCATION Modernizing Medicine Quantum Foudation help state college 98 SALES STRATEGIES Do you need a coach Even world class performers should have one 34 HEALTH CARE 36 MARINE More male executives turning to cosmetic surgery 56 MARKETING Seth Rand has a knack for search engine optimization web design 100 THE FAMILY OFFICE clients to address cyber security risks Spectacular Melges24 World Championship will boost economy 59 APOGEE AWARDS 88 LAW Meet the honorees of SFBW s C-suite awards program 102 WEALTH 104 WEALTH 106 38 TALENT AND Entrepreneurs share how they obtained funding to fuel growth Author Mark Scharenbroich tells how to make meaningful connections MANAGEMENT Akerman s David Spector lines up to follow Andrew Smulian 40 TECHNOLOGY 90 REAL ESTATE 92 NONPROFIT Figuring out how much life insurance you really need for estate planning SFBW seminar shares insights Why hot commercial real estate investments could be poised to cool When Miami went to war HISTORY VIEWPOINT 44 CEO CONNECT Billionaire Jeff Greene endures Camraderie is great but overdoing it can create problems GOVERNANCE 26 Janna Ronert s Image Skincare closes in on 100 million in sales COVER STORY Do you service the Yachting Industry Since 1931 Brown & Brown has been specializing in marine risks such as Marinas Boat Yards Boat Dealers Commercial Vessels Marine Contractors Artisans and Private Pleasure Yachts. Our staff of knowledgeable and responsive professionals make us leaders in providing marine specific coverages such as Ship Repairer s Legal Liability USL&H Jones Act Maritime Employer s Legal Liability P&I Traveling Workmen MOLL Fort Lauderdale Division 1201 W. Cypress Creek Rd. 130 Fort Lauderdale FL 33309 954.776.2222 800.648.9303 Fax 954.776.4446 w w w. b b f t l a u d . c o m LETTER FROM THE EDITOR A Beautiful Story about Success Janna Ronert started Image Skincare with a simple premise I can do it better. Starting out of her apartment she has grown Image Skincare into a nearly 100 million success story. I have several takeaways from our cover story about her Industry knowledge counts Ronert is an aesthetician and had been in the beauty business about 15 years when she started her company. Her husband the company s president is a board -certified reconstructive surgeon. R&D matters The company does clinical trials testing and studies. Editor-in-Chief Kevin Gale Consumers are sophisticated Image Skincare finds customers want to know where products they use are made. There s an alternative to e-commerce Image Skincare sells only through professionals and links its products with treatments. South Florida is a great place to relocate Ronert moved from Houston with 20 employees and has grown to 150. I have a fondness for success stories like Ronert s and we have plenty more this issue. Our CEO Connect this month features Jeff Greene the billionaire real estate investor. Greene s story tells the saga of how he endured the ups and downs in the Los Angeles real estate market created a major portfolio and then cashed in-- 800 million--by betting on the decline in subprime mortgages. He talks about how bullish he is on West Palm Beach s future where he controls a major chunk of land for redevelopment. We also received an invitation from Bonaventure Equity and gained insight from two entrepreneurs who have made it big in consumer products and in the gas turbine industry. It turns out that South Florida is a global epicenter for gas turbines technology partly because of the longtime presence of Pratt & Whitney near West Palm Beach. This issue also features plenty of success stories in our third annual Apogee Awards which celebrates eight positions in the C-suite. Our celebration and awards programs was scheduled to happen at the NSU Art Museum Fort Lauderdale just before this issue arrives in mailboxes so look for photo coverage in our December issue. Kevin Gale 8 NOVEMBER 2016 www.sfbwmag.com YOUR PREMIER AIRPORT FOR BUSINESS Conveniently located in Uptown Fort Lauderdale Fort Lauderdale Executive Airport (FXE) is positioned to enhance your business travel experience. Notable amenities at FXE include a 24-hour air traffic control tower U.S. Customs facility with extended hours 24-hour security and your choice of four exceptional fixed-based operators. FOR EFFORTLESS TRAVEL TO FORT LAUDERDALE VISIT WWW.FLYFXE.COM. CHAIRMAN AND PUBLISHER EDITOR-IN-CHIEF AND SENIOR VICE PRESIDENT OF STRATEGY COPY EDITORS Gary Press gpress sfbwmag.com Kevin Gale kgale sfbwmag.com Jason Davis Keren Moros Alyssa Fisher Creative CREATIVE DIRECTOR ART DIRECTORS Melanie Smit Alexander Hernandez Frank Papandrea Evelyn Robles Writers CONTRIBUTING WRITERS Gerald Czarnecki Chris Fleck Stephen Garber Leslie J. Kraft Martin Lenkowsky Darcie Lunsford David Lyons Julie Neitzel Arnold Rosenberg Greta Schulz Photographers Downtown Photo Fort Lauderdale Thomas Rollo Larry Wood Managing Director CLAYTON IDLE cidle sfbwmag.com rlopez sfbwmag.com gscott sfbwmag.com Market Directors lcastle sfbwmag.com JORDAN KNOWLES-BARTLEY jknowles sfbwmag.com LORI CASTLE OPERATIONS DIRECTOR DIRECTOR OF MARKETING & EVENTS MARKETING MANAGER RICH LOPEZ GAIL SCOTT Editorial Advisory Board Marc Brotman Brotman Nusbaum Ibrahim Founder and Partner Bob Birdsong OK Generators President Rick Case Rick Case Automotive Group Owner Monroe Gang Atlantic Partners CEO Gerald Greenspoon Greenspoon Marder Co-managing Director Howard Kaye Howard Kaye Insurance Michael Kaufman Kaufman Lynn Construction Founder President and CEO Michael Keeby Brown & Brown of Florida Executive Vice President Jeremy Larkin NAI Miami President Alan Levan BBX Capital Founder Gerry Litrento BankUnited Senior Executive Vice President Steven Mariano SunCoast Holdings Chairman and CEO Neil Merin Merin Hunter Codman Chairman Ed Pozzuoli Tripp Scott President Chris Roberts Lexus of Kendall President Ron Shuffield EWM President Rachel Sapoznik Sapoznik Insurance CEO Terry Stiles Stiles Corp. Chairman and CEO Lisa Anderson TD Bank Vice President of Commercial Lending for Broward and Palm Beach Counties Mark Trowbridge Coral Gables Chamber of Commerce President and CEO Yamal Yidios Ytech International Jordan Zimmerman Zimmerman Partners Advertising Chairman and CEO SFBW Magazine 3511 W. COMMERCIAL BLVD. SUITE 200 FORT LAUDERDALE FLORIDA 33309 954.377.9470 FAX 954.617.9418 WWW.SFBWMAG.COM Manage Your SFBW Subscription 2016 SFBW SFBW S I T T I N G O N T H E E D G E O F FA B U L O U S . Dewar s Rail Seating at AmericanAirlines Arena is an ideal experience for Miami s elite movers and shakers. Your ticket gives you a superior view of AmericanAirlines Arena inside the posh Dewar s Clubhouse--as well as valet parking VIP entry into the building a Chef s Table of deliciousness and generous servings of house beer or wine. GET YOUR TICKETS ON DEWARSRAIL.COM OR BY CALLING 786-777- HOOP. 12 NOVEMBER 2016 www.sfbwmag.com www.sfbwmag.com ww N E W S TA D I U M NEW LUXURY EXPERIENCE As par t of the 450 million new stadium modernization all suites will be remodeled for the 2017 season. Enter tain your top clients prospec ts and employees with best-in- class benefits and amenities. F O R M O R E I N F O R M AT I O N P L E A S E C O N TA C T D AV E B A L D W I N AT 3 0 5 - 9 4 3 - 6 6 5 4 O R D B A L D W I N D O L P H I N S . C O M . www.sfbwmag.com NOVEMBER 2016 13 SPACES Treasured Island PRIV AT ISLAND ESTATES PROMISES PRIVATE ISLAND LUXURY BY LESLIE J. KRAFT 14 NOVEMBER 2016 www.sfbwmag.com SPACES www.sfbwmag.com NOVEMBER 2016 15 SPACES trail jogging trail children s playground and pet grooming area. There also will be a social room with billiards a private dining room with catering kitchen a library a business center outdoor dining spaces a wine room and a cigar lounge. Each tower will have its own twostory 10 000-square-foot waterfront steam and men s and women s sauna rooms a toddler playroom and separate service quarters. Other services include valet concierge and 24-hour roving and stationary security. Sales at the property have exceeded 300 million developers say including 50 million in penthouse units. The property is designed to appeal to large families seeking privacy or a second For those who love the idea of living on an island but don t want to be too remote Priv at Island Estates is a tempting new option. The community will be anchored in the waters of the Aventura Intracoastal on what developers say is the last buildable 8-acre island in South Florida Priv Island. Priv at Island Estates will comprise two 16-story luxury towers each with 80 square feet to 9 000 square feet. Prices start at 2.15 million for the exclusive project which is being developed by BH3 and Gary Cohen. Priv s architect is Sieger Suarez and the project s interior designer is Interiors by Steven G. The average unit is 3 400 square feet. All residences will feature private elevator entries flow-through floor ceiling spacious 10-foot deep balconies expansive east-west water views European kitchens and bathrooms outdoor summer kitchens and service suites. Residents will reach the island via a private bridge and a road that brings them past an attended gatehouse and into 70 000 square feet of public space. This includes a private beach marina plus a private jetty for guest boat landing whirlpool a roving and permanent poolside caf with in-home service and catering lighted tennis court nature net-worth individuals seeking resortstyle living and young trendy fashion and shopping enthusiasts. The 360-degree water views from anywhere on the property along with the privacy created by the surrounding waters likely will be enough to attract any buyer who can pay the price tag. Priv at Island Estates (mypriveisland. com) is scheduled for completion by next summer. 16 NOVEMBER 2016 www.sfbwmag.com www.sfbwmag.com NOVEMBER 2016 17 ONE LINERS PALM BEACH Brightline Moss Construction. Nitin Motwani Encore Bisnow PGA Commons 5100 Palm Healthcare Foundation President and CEO Andrea Bradley Capital WorldCenter Riviera Beach Community Redevelopment Agency CBRE Riviera Beach Marina. Modernizing Medicine of Boca Raton Matthew Linderman Palm Beach County Business Development Board President CEO Kelly Smallridge Adolfo Dominguez Town Center DiPietro. Boca West Country Club Jay 18 Colliers International South Florida Broker Rich Lillis of Boca Raton Deep Water Cay. BlinkBio Scripps Research Institute campus 130 Scripps Way Jupiter. Florida Power & Light John Paul DeJoria s Aubio Life Sciences New Water Capital of Boca Raton The Worth Collection W Worth fashion Las Vegas Boca Raton Scott Woolley Bar of Delray Beach Blue Martini International Plaza in Tampa Tampa Bay Business Journal. Waterstone Resort & Marina 999 E. Curio Collection by Hilton. Luma at West Palm Beach Florida Power & Light employees Third Palm Capital Drive Hurricane Matthew. www.sfbwmag.com NOVEMBER 2016 VistaBlue Singer Island 3730 N. Ocean . 19 ONE LINERS BROWARD Tutor Perini Corp. is Wurzak Hotel Group s BBX Capital The Dalmar and Element Copperline Partners Doron Broman Simon Langbret Uri Redler 630 NW First Ave. Fort Lauderdale The Real Deal. Lincoln Park Delray Village Mart JPMorgan Chase Harbor Inn Apartments in Coral Springs Marsh Harbour Apartments in Sunrise. Integra Investments 413 N. Federal Highway. The Carlyle Group InSite Group of Weston Bonaventure Resort & Spa in Weston 1137 Seabreeze Blvd. Fort Lauderdale B Ocean Resort. Cleveland Clinic Florida held a Women s Center. BBX Capital Alan Levan Securities and Exchange Commission. 20 Hotwire Communications Francesca WatsonMcFeely TurnKey Vacation Rentals Dania Pointe Ultimate Software of Kanjoya Jet Blue Extra IMC Lincoln Park in Sunrise to Bilu Association A federal judge in Tallahassee Space Taylor Theus Holdings Versa Capital Management Silver Airways Seminole Tribe of Florida. www.sfbwmag.com NOVEMBER 2016 21 ONE LINERS MIAMI-DADE Shoma Group Eleven on Lenox Charles Allem of CAD International for Santiago Vengas Patrick Brickell 243 SW Ninth St. Miami. The Shops Sunset Place in South Miami Goddard Kevin Vaughan Miami Dade College Bank of the Ozarks Merck & Co. is Miami Lakes Ritz Carlton Residences in Sunny Isles Beach. Pinta Bodega Media Eduardo Gaz Ski Brazil Miami-Dade Commissioner Xavier Suarez Beacon Council Greater Miami-Dade Chamber of Commerce. Dan Marino Foundation FIU Embrace 22 ASG Wynwood is Wynwood Park 2600 block of Northwest Second Avenue Miami. Bayside Marketplace Kurz Real Estate Ave. in Coconut Grove. Zyscovich Architects International Airport Scandinavian Airlines 3692 Grand Housing Trust Group Alonzo Mourning s Courtside Apartments 1699 NW Fourth Ave. Miami. ROVR Development for Fairchild Coconut Grove 3581 Glencoe St. Coconut Grove. Dominican Wings Hard Rock Stadium. Punta Cana Santa Domingo to Miami Ray Allen Shannon Grown BC Caribbean Caribbean Isle Villas Northeast in Homestead. Julian Chang www.sfbwmag.com NOVEMBER 2016 23 SILVER LINING CATERING SLEventCatering WA R M U P T O W I N T E R INSPIRATION For Winter entertaining add warmth with rustic and natural elements. Season foods with warm notes such as nutmeg and cinnamon. This relaxed style will make any occassion warm and cozy. the FOOD BUTTERMILK MARINATED SOUS VIDE TURKEY & SUCCOTASH BREAD PUDDING the DRINK ROMPOPE whole milk cane sugar vanilla extract cinnamon stick finely ground almonds rum or brandy lavender to garnish the LOOK Learn more about our specialty services. P 954-917-1020 ext. 314 silverliningcatering.com 24 NOVEMBER 2016 www.sfbwmag.com PIGSKIN IN PARADISE 2016 FLORIDA ATLANTIC FOOTBALL HOME SCHEDULE SOUTHERN ILLINOIS CELEBRATE FAU DAY 09.03 BALL STATE PARENT & FAMILY WEEKEND YOUTH DAY 09.24 CHARLOTTE FIRST RESPONDERS DAY 10.08 WESTERN KENTUCKY HOMECOMING 10.29 11.12 UTEP MILITARY APPRECIATION DAY OLD DOMINION SENIOR DAY 11.19 SINGLE GAME TICKETS AS LOW AS 12 CALL 1.866.FAU.OWLS OR VISIT FAUSPORTS.COM TO FIND OUT MORE AND TO PURCHASE YOUR TICKETS TODAY. COVER STORY THE RIGHT IMAGE TO BECOME A GLOBAL FORCE BY ARNIE ROSENBERG Janna Ronert already had been in the beauty business about 15 years when she took stock of what she d accomplished. More important she looked at what she still wanted to achieve. There comes a time when you look around and say I think I can make a better product of better value and have a better company that people have a deeper That was 2003 and working from her apartment in Houston she followed those entrepreneurial aspirations to launch a line of skincare products. Today Lantana-based Image Skincare is on the verge of becoming a 100 million company. Using evidence-based research to develop new formulas and products--from masques to moisturizers and primers to peels--Image Skincare has carved out its niche in a doggedly competitive market Ronert explains and now sells in more than 40 countries. What was on customers minds 13 years ago is not industry has become much more sophisticated much more ingredient-savvy. We get a lot of questions about where we source our ingredients. Is it from America For the record ingredients do come from around the world but all manufacturing is in the U.S. What s been invaluable to Image Skincare s success however is its president and chief innovative aesthetic surgeon who also holds a Ph.D. in research he joined the company in 2006 and has been the force driving its innovation Janna Ronert says. The couple also has 7-year-old twins. He s just been an integral part and has added a tremendous amount of value through his clinical trials there s no other company that has the CEO and founder a licensed esthetician and the president and reconstructive surgeon. That s what brings science and Janna Ronert is quick to point out it s not only the chemical formulations of Image products that carry Mark Ronert s imprint. She also credits him for the Keeping that line fresh and innovative (and cool) has helped carve out a unique market position for Image Skincare Ronert says. Products are sold only through professionals--not even online--and are linked to treatments. So if you want a facial if you want a peel if you 26 NOVEMBER 2016 www.sfbwmag.com COVER STORY want a professional treatment those are things you can t get on the internet. It s like a massage You ve got to go there. Ronert brought Image Skincare to South Florida-- a mecca beauty had married in Palm Beach and soon found it was a very good move for us and came here with about 20 employees and today has nearly 150. current location and the company likely will move to larger quarters soon she says. If there s any question that Image Skincare and Ronert herself are making their mark in the beauty industry consider skincare sponsor of Miss Teen USA Miss USA and Miss Universe pageants four years ago when they were owned by Donald Trump. That led to Ronert s selection as a Miss USA judge in 2014. We worked with Mr. Trump and his organization for several years and he asked me to be a judge for the Miss USA pageant. It was a great experience dealing with these women who really are women who believe you can be very She hasn t stayed in touch with Trump though. He s kind of busy with other One thing is for sure Ronert isn t letting Image Skincare rest on its successes. In 13 years the company hasn t retired a single product. We re really serious about the clinical When we bring a product to market we know it s going to be long-lasting. Every two or three years we will take that base formula and that concept and add new things and call it new and improved. It s a very costly procedure but we think that s There s no better example of that innovation than its newest product a beauty collagen liquid that takes its name her Polish roots. Drinking a shot of Yana daily according to Ronert benefits everything from wrinkles to hair to nails. Ingestibles are just part of a 360-degree approach that includes products and can stop the clock but I certainly think we can help you age later. We ve only just scratched the surface 28 NOVEMBER 2016 www.sfbwmag.com Healthy employees A healthy bottom line A Passion for Wellness Healthy Employees Healthy Bottom Line 30 NOVEMBER 2016 www.sfbwmag.com OFFICE WAREHOUSE DISTRIBUTION INDUSTRIAL BUILD OUTS RETAIL RESTAURANTS NIGHTCLUBS MIXED-USE HEALTHCARE EDUCATION CHURCHES IVY DEVELOPMENT CORP. PRE-CONSTRUCTION CONSTRUCTION SERVICES 954.862.1752 www.IvyDevelopmentCorp.net SOUTH FLORIDA GENERAL CONTRACTOR SINCE 1989 LICENSED INSURED GCG040105 www.sfbwmag.com NOVEMBER 2016 31 HEALTH CARE Boca Raton doctor sees increase in men seeking cosmetic treatments BY MARTIN LENKOWSKY GUY TIME In order to stand out from their competitors in as many ways as possible some of today s business executives have added a new weapon to their arsenal plastic surgery. Raton plastic surgeon Daniel Man. People in the business arena are looking for ways to improve their appearance. Overall their In particular Man sees a growing trend in men seeking plastic surgery. Businessmen are interested in procedures that give fast businesswomen has been a constant. In the past Man says only about 15 percent of plastic surgery patients were men today that number stands at 25 percent. The Today we have new technology. Lasers are a way to reduce fat fast. In just 25 minutes a businessman can reduce unwanted fat with no pain and no down time. In six to 12 weeks (of 25-minute) Man a native of Israel who studied at the University of Tel Aviv doubles as an author artist inventor and educator. His guidebook to cosmetic surgery The New Art of Man Faces of Plastic Surgery combines his love of his medical specialty with his artistic ability. He s also a painter and he donated one of his creations to the White House to recognize President Bill Clinton s peacemaking efforts in the Middle East. Man says he employs that artistry when performing surgery. I Man known for his work in skin rejuvenation cosmetic laser surgery liposuction facelifts and body procedures is a frequent guest lecturer at medical conventions and societies around the globe. And for both men and women the skin has always been an issue. Everyone knows how to comb their hair and brush their in a half-hour and helps with sun damage redness freckles and other skin conditions. Man also treats a fairly common but not often discussed disorder some men face gynecomastia or an abnormal enlargement of the breast tissue in men. A lot of men suffer He estimates 40 to 50 percent of businessmen might have it. Another increasingly popular trend for men rhinoplasty more popularly known as a nose job. Men are interested in doing their Also men are paying more attention to their necks he says mentioning an injectable treatment called Kybella that destroys fat cells under the chin. Another procedure now available is radio frequency skin tightening which is used to reduce the appearance 32 NOVEMBER 2016 www.sfbwmag.com Give the gift of luxury bedding This holiday season ask for our exclusive designer pricing. Expect to be surprised when you walk into Brickell Mattress you ll experience an all-inclusive sleep center like no other. Guests are pampered and given special attention from seasoned sleep experts to help find the perfect bed. The CARPE DIEM BEDS OF SWEDEN Collection represents the ultimate in luxury eco-friendly bedding. Each Carpe Diem bed is hand made with meticulous care by genuine Swedish artisans. Heat treated and dovetailed at the joints Carpe Diem bed frames are made exclusively from certified sustainable forestry operations that minimize environmental impact. Only the finest organic cotton and wool are used ensuring the highest quality materials. Prices for King starting at 7 699. A LSO CARRY ING DESIGNERS W ELCOME 1030 SW 8TH ST MI A MI FL 33130 305.326.4000 BR ICK ELLM AT TR ESS.COM Se Habla Espa ol Italiano Portugu s 34 NOVEMBER 2016 www.sfbwmag.com MARINE With Wind in Their Sails BY MARTIN LENKOWSKY Thanksgiving weekend in South Florida this year will mean Melges24 World Championship. More than 100 sailboats and 500-plus crew members from up to 20 countries are expected to participate Saturday Nov. 26 through Saturday Dec. 3. Although Miami has never hosted this regatta previous Melges24 Worlds have been held in South Florida in Key Largo and Key West and race organizers are eager to come. Draftz. The weather is great and Miami is always a draw for South Florida is a traditional mecca for sailing. Some people leave their boats in Miami and come down to race to buy a boat and keep it in Miami. The Melges 24 sailboat takes its name from its 24-foot length. It was introduced in 1993 by the Melges family of Zenda Wisconsin on the heels of Olympian Buddy Melges victory in the America s Cup aboard Bill Koch s America3 Draftz says. It was very lightweight 1 750 pounds easy to The yearly Melges24 World Championships started in England in 1998. This year s regatta could be a record-breaker with 125 boats signed up says spokesman Tim Browne. One reason Participants want to compete in Miami he says. It s one of South Beach is also a big draw. Sailors like to party after Browne expects an economic windfall for Miami. With the 500-plus sailors their families crew members and coaches The best place for spectators to see the regatta is on a private boat or yacht on the water Browne says. The course just south of Government Cut is the same for the entire run of the race using Island Gardens Marina on Watson Island as its base of operations. Draftz says organizers chose Island Gardens because of its dock capacity and its proximity to the Miami Yacht Club. Marieke van Peer manager for Island Gardens Deep Harbour says the race will be the biggest event the marina has hosted since its January opening and a change of pace Van Peer says people interested in seeing the sailing craft can view them from Island Marina s outdoor restaurant lounge The Deck. It s going to be a beautiful event watching the Christopher Rast a dual Swiss-American citizen won last year s championship in Denmark. He ll be in Miami saying local waters can deliver excellent racing conditions if a nice easterly or northeasterly breeze comes in and the Melges 24 is a good vessel for it. It s a great-size boat easy to manage Browne says the competitors many of them amateurs are some of the world s best. It s kind of a Who s Who of the best Jacksonville native and resident Steve Suddath will be competing too. He started sailing when he was 15 and was part of the Florida State University sailing team. I m 62 and have decided to do the Worlds in spite of not sailing much over I love competing against the best and learning from these MELGES24 WORLD CHAMPIONSHIP 2016 Schedule Saturday Nov. 26 to Monday Nov. 28 Measurement and registration Monday Nov. 28 Practice race and opening ceremony Tuesday Nov. 29 to Saturday Dec. 3 Championship competition Location Docking Island Gardens Marina Watson Island Course Open ocean just south of Government Cut channel Information Event melges24worlds.com Island Gardens islandgardens.com Contact Randy Draftz regatta chairman rdraftz charlestonyachting.com GIVING THANKS CELEBRATE WE RE THANKFUL FOR CHOCOLATE Hollywood Fort Lauderdale Weston Plantation Boca Raton Delray Beach Greenacres Lake Worth Palm Beach Gardens 36 NOVEMBER 2016 www.sfbwmag.com HOFFMANS.COM www.sfbwmag.com NOVEMBER 2016 37 TALENT AND MANAGEMENT Ticket to Ride BY MARTIN LENKOWSKY You re casually driving your no-frills nondescript rental car to a by hundreds of thousands of black-leather clad heavily tattooed bikers on shiny chrome Harley-Davidsons. You soon realize the iconic American motorcycle manufacturer is celebrating its 100th anniversary in its home city and bikers from around the globe are here to join the party. Make no mistake about it you re not a biker and you never will be a biker although deep down you think it s cool. connect and share the camaraderie with all these fun-loving bikers. So when the opportunity arises you go up to a biker two have established a connection. This is the experience shared by writer entertainer and motivational speaker Mark Scharenbroich who has authored the book Nice Bike Making Meaningful TALENT AND MANAGEMENT Connections on the Road of Life. He will be the guest speaker at the Easter Seals Get Down to Business Lunch on Jan. 18 at the Kravis Center in West Palm Beach. Scharenbroich a Minneapolis resident was interviewed by SFBW a media sponsor of the event to discuss his book and scenario as a metaphor representing the importance of connecting and how it can enhance one s business practices. The nice bike message is all about how we connect with One of the biggest things I see is the best companies are making a says adding these successful companies emphasize their mission customers alike. Paul Leone CEO of The Breakers in Palm Beach has been involved with this luncheon for many years. He says his involvement began as a favor to a friend My very good friend He says when he visits successful companies he actually feels Scharenbroich says a business organization must make sure all its employees connect with each other their company s core values and mission statement as well as customers. Surveys show retail businesses that have a policy of personally greeting thereby connecting with all customers walking through their doors have increased sales employee retention and customer return. He uses three words to describe his intended message to year a friend encouraged him to actually visit the Easter Seals center. All you need to do is walk through that door and see the and inspiring. I was thrilled. I felt they needed more support and He says the Get Down to Business Lunch serves several functions. It brings awareness to the Easter Seals mission organization and it s an opportunity to share a great national speaker and writer with our community. It s an educational and Leone also credits another close friend Neil Merin chairman of the NAI Merin Hunter Codman commercial real estate services making ourselves fully present in the lives of others. When you re experience for them. And by connecting we need to make it He says some successful hotels have instituted what s called a rewarding experience for both customer and employees. Whenever they re 10 feet from a customer they need to maintain Easter Seals Get Down to Business Lunch When Wednesday January 18 11 a.m. to 2 p.m. Where The Kravis Center Cohen Pavilion 701 Okeechobee Blvd. West Palm Beach FL 33401 Speaker Mark Scharenbroich author of Nice Bike Making Meaningful Connections on the Road of Life. Information Contact Caroline Tanner at ctanner ext. 12101. And what will be the main focus of his speech at the luncheon want my listeners to have a great experience. I want them to leave wanting to connect with others in a more meaningful way in both Scharenbroich says unlike some speakers standing before business leaders he doesn t need to use PowerPoint displays. He says he s noticed a positive trend in today s business world. www.s bw ag co ww sfbwmag.com NOVEMBER 2016 www.sfbwmag.com g com 2016 39 39 TECHNOLOGY Battle-Tested VETERANS IN CYBERSECURITY SHARE STRATEGIES AND INSIGHTS Family Office of Fort Lauderdale which helps advisers implement long-term wealth strategies for clients. Alan M. Porten senior territory manager southeast of eSentire a multinational company that helps mid-cap companies protect against cyberthreats. The following transcript has been edited for clarity and brevity. Many executives say the threat of cyberattacks keeps them up at night. How do you help clients sleep better Renz There s a movement among independent financial advisers to use a lot of third-party platforms with data moving between platforms. There are a lot of passwords. We look at how we organize That innocent-looking email might actually be the start of a phishing trip that leads to a cyberattack. Financial services companies that face the risk of multimillion losses and perhaps even going out of business are on the front line these days. SFBW sought insight on how to fight back at its first Cybersecurity After Hours Event for specialty fund managers and senior executives at the Polo Club of Boca Raton. Panelists Erik Kellogg founder & CEO of inCyber Security a Chicago-based company that provides cybersecurity services for the financial industry. Sal Orofino principal of Orofino Law Group a Miami Beach firm that advises clients on content technology and commerce including cyber and data privacy. Mark Renz chief investment officer of Socius that and what information we access. Most smaller firms sub 1 billion don t have a cybersecurity policy. Alan Porten Steve Parkinson and Joe Farkas 40 NOVEMBER 2016 www.sfbwmag.com TECHNOLOGY At a prior firm we had an email from a client that said to move 50 million from that client. It never came from the client. Fortunately part of our procedure was to confirm with clients orally. Porten I think one of the things I ve seen most consistently is people become the root cause of most of the cybersecurity issues going on. Ninety-plus percent of the breaches that occur start principally with a phishing email. Companies should be identifying information flowing across networks monitoring technology and areas of policy procedure. Kellogg What s keeping me up at night is the unknown feature. You need to start with getting a full understanding of what you have how you run your business and getting some policies in place. From there understand what s at risk. Renz If we don t go back to that cyber audit and assessment and act on it we have a smoking gun where are we going to be held responsible. There has to be a crisp message at the end of the day. Orofino There are thresholds where the FBI and state authorities get involved and cyber thieves realize that and make that part of their strategy. The question is Do customers indict the business that was broken into Renz I was a victim of identify theft five years ago. It wasn t a lot of money but the amount of time to deal with it was a lot. The Palm Beach County Sheriff s office says 10 percent of people get caught. What happens if I as a business refuse to get in line Orofino Chapter 7 Chapter 11 and Chapter 13 bankruptcy court filings. Those are about as clear as I can make it. They may be company prosecutions and there could be criminal liability. What s the intersection between good business and regulatory Orofino Take security and make it a business advantage. Customers should understand Jane Iversen and Jorge Iglesas your efforts are to protect them. Are you really getting in front of the issue and is that reflected by how quiet. I think part of the regulation is to ensure that nominal levels of control are your customers are trusting you Porten Regulations in the alternative in place to prevent any domino effects of financial field are relatively new. Security breaches of financial systems. Kellogg It s more about giving is not new but the requirements of compliance are new. There is a complex investors and customers a choice if they set of controls government is trying to feel their identity has been stolen. They can forcefeed that s been in place in health feel the government is doing something care banking and utilities for a long time. about it. It s just catching up with the alternative Where do you see cybersecurity investment world. advancing in the next decade Porten If any of us had an answer we Are data breaches one of the wouldn t be sitting here drivers for regulations Orofino Look at the space of what Orofino Financial security is an important part of economic security. The government Amazon is doing--taking over unrelated businesses that aren t tech businesses but is looking for ways to shore up that risk. Porten I think the ultimate goal is then creating tech business that are related to prevent panic. We have seen tens of and influencing legislation. Porten When I was at Citibank we millions of identities captured through a wide variety of retail breaches. The spent 250 million on cybersecurity. They financial industry has kept much of it had 1 000 cybersecurity experts but it Lonnie Cibants and Lynne Korman set it once and forget it policy Kellogg No. At some point your business processes and technology change. There is no set and forget. Porten When I started in cybersecurity 15 years ago the vision of hackers was a pimply teenager. Today cybersecurity is 100-percent organized crime. It s profitoriented. Technology is changing on a day-by-day basis. Security issues evolve along with the technology. Security has to become part of the culture of each and every one of your organizations. Every employee is equally responsible for maintaining security. Orofino Technology is changing radically and markets are changing radically. It s a difficult place for us every day. What percentage of these cyber crimes get resolved Are people being caught and prosecuted Porten Cyber criminals win every time that they cause a reaction. Every time they steal the money it vaporizes immediately. There are prosecutions but much of the cyber crime activity takes place off U.S. soil. The ability to prosecute across international boundaries is difficult. TECHNOLOGY wasn t enough. Their plan for this year was to double that and double the staff. Bad guys are going to be outsmarting and outthinking a lot of the defensive postures because that s how they are putting food on the table. Kellogg You don t want to be getting your start five years from now. You better know what s going on in five years if you want to be around in 10. How do you manage risk with thirdparty vendors Renz You are probably safer with a cloud-based system or Amazon. The landscape is dominated by these tremendous corporations that have a lot of money to spend. The size of cybertheft was more than 250 billion a year ago and continues to grow. Have a plan and use some of the largest players in market. Utilize guys like these to get protocols and procedures in place. Porten The most important thing is you have to talk about it. Part of what governance is about is being required to at least analyze the risk and make business decisions based on risk and cost. Nobody can hold a board of directors responsible if the risk has been analyzed and assumed. It s not having everything addressed is where the problems begin. Stimulate conversation and make sure to ask right questions. About the Sponsors eSentire With managed detection and response services eSentire keeps midsize organizations safe from constantly evolving cyberattacks that traditional security defenses simply can t detect. ESentire combines people processes and technology to detect remediate and communicate sophisticated cyberthreats in real time. Protecting more than 3.2 trillion in assets under management eSentire has received multiple accolades including Hedge Fund Manager Service Provider awards (2013 2014 2015 2016). In 2015 eSentire was named to Deloitte s Technology Fast 50 and Fast 500 and was included in Cool Vendors the research company Gartner Inc. For information visit esentire.com. OLG helping businesses match or exceed the pace of an ever-increasing regulatory environment. Its practice connects Rene Hagen Kiana Wise and Hans VanHernaaden business leaders with solutions for the integrated legal areas of cybersecurity data privacy advertising and marketing and labor law. products and service companies. Past engagements include providing inhouse counsel to youth marketing icon RVCA as well as Connexions Sports and Entertainment an Omnicomm company. Representative clients include ReadyPulse Experticity Racer X RVCA Equisolve and BTOSports. com. 42 NOVEMBER 2016 www.sfbwmag.com www.sfbwmag.com NOVEMBER 2016 43 CEO CONNECT POWERED BY Gary Lachman Jeff Greene and Gary Press Bullish Billionaire Real estate investor Jeff Green reaped 800 million by anticipating the nation s housing collapse before the Great Recression but these days he s a developer himself. He is poised to build a two-tower 30-story mixed-use complex in downtown West Palm Beach and has dozens of other acres in a city. He also just opened The Greene School for prekindergarteners through middle schoolers. Although Forbes estimates Greene s net worth at 3.3 billion he comes from a blue-collar background. He worked his way through Johns Hopkins University including winter vacations as a busboy and waiter at The Breakers in Palm Beach and earned a bachelor s degree in 2 years. After accumulating a nest egg as a circus promoter he went back to school at Harvard University and earned an MBA. He also bought a three-family home that started his investments in residential real estate. He survived a roller coaster property market in Los Angeles to accumulate a 1 billion real estate portfolio. Then he made a bet on the collapse of subprime mortgage-backed securities. His investment has been described as the most successful trade in history by an individual investor. SFBW Chairman and CEO Gary Press interviewed Greene was interviewed in a ballroom overlooking the ocean at the Tideline Ocean Resort and Spa which he owns in Palm Beach. 44 NOVEMBER 2016 www.sfbwmag.com CEO CONNECT The following transcript has been edited for brevity and clarity. Tell us a bit about your early life including the values instilled by your parents and how you worked your way through college. I grew up in Worcester Massachusetts a workingclass manufacturing city. If you were rich you had a Lincoln Continental and a two-car garage. I think I was brought up at a time when it was really easy to have a hard work ethic and really good values. What prompted you to buy your first residential property while you were going to Harvard and how were you able to accumulate 18 properties while earning your MBA A guy at John Hopkins had bought a three-family building and said you can live rent-free--the other two units can cover your payments. I bought a three-family house for 37 000 and 7 000 down. I ended up moving in there and the market was so undervalued I realized this was a good investment. While I was at Harvard I bought 18 properties. I ended up selling that first property for 185 000. The market went up 500 to 1 000 percent. I realized you usually make the most money on the big wave. When did you move back to Florida In 2008. I lived in Los Angeles for 28 years after Harvard. I had ups and down in my real estate career. I had about a 1 billion real estate portfolio and 500 million in debt. During an earlier crash my wealth had been in negative territory. In 2003 I started to get concerned Are these prices going to hold What if rates grow up I thought that there has to be some sort of hedge rather than panic and selling. I met with my bankers in New York and John Paulson who has a hedge fund. They had different ideas. Goldman Sachs said you could short S&Ls. Paulson said I m shorting I ended up shorting 1.1 billion of subprime securities in April 2006. I knew in 2008 I d be cashing in and my profit was over 800 million so I only in L.A. three or four months a year. I thought I could save a couple million in taxes. My mother lives in West Palm Beach. My wife and I moved to South Beach. I was married for the first time in 2007. We didn t really like South Beach that much and then we came up here for Thanksgiving. We found a great house and Amed Avila and Justine Avila Phillip Edwards Stephanie High and Andrew High Phillip Jacobs and Todd Wise www.sfbwmag.com NOVEMBER 2016 45 CEO CONNECT talking to each other. What if anything keeps you up at night I think we have a real problem in this country creating an inclusive economy. What globalization did to manufacturing jobs and the blue-collar workforce I believe machine learning robotics and big data will do to the white-collar workforce in the next five years--massive job destruction. We are heading into a society where it s going to be very hard to create good-paying meaningful jobs. We have to reinvent capitalism. I believe that the capitalism that was so good for me will not allocate our national resources equitably. The problem where we are today is just the evolution of our global economy. We have iPhones that do what supercomputers did 20 years ago. Our economy has a cancer and the cancer is the job-destroying technology and globalization. We have the best economy and universities but a distribution problem. How do you equitably distribute all our resources Heather Roscioli and Kelly Merbler I had lunch with someone in the technology field and he said in five to 10 years we may see people not owning cars--you ll just jump on one that picks you up. I understand the argument but cars are also status symbols. What do you see happening I think five years is way off. There are 1 billion cars on the road. Some friends at Harvard say there will be half a million driverless cars in five years. At some point they will take over. All the drivers will lose their jobs and all the auto shops close. Personal injury attorneys will lose jobs. What are your thoughts about the real estate market down here I just finished a 540-unit complex on the former Atlanta Braves site and rented 400 units in the first few months. West Palm Beach didn t have the recovery that Miami and Fort Lauderdale did. We are just getting stabilized here. There s the Bristol condos that just started. Kolter is finishing a 15-story apartment building and Broadstone is going up across from the train station. We are going to lag the other South Florida markets and we will have a recovery as the others decline. It s a much better deal to live in West Palm Beach. In a year we will have a train that will take you to downtown Miami. When we moved here I had just cashed out all that money from our subprime craze. For me having always been in real estate it was a Jeff Greene expects to break ground soon on the 30-story One West Palm project moved here. We love it here and have no intention of going back to California. Did you know the guys in the book and movie The Big Short Michael Lewis the author contacted me early on. After I cashed in the trade I was on cover of the Wall Street Journal and had a big thing in Forbes and on CNBC. Greg Lippman of Deutsche Bank and I were in a parallel world but we weren t 46 NOVEMBER 2016 www.sfbwmag.com CEO CONNECT no-brainer to buy some of these deals at depressed prices. There were great deals not that I just loved West Palm Beach. Over more time I realized it was a little gem. There s an airport next to the city and beautiful beaches across a short little bridge. Palm Beach is a wonderful historic city with great restaurants and historic architecture. Downtown West Palm Beach is a beautiful city. You can walk everywhere. There are great restaurants fishing and the Kravis Center. There are two baseball teams playing here next spring the Washington Nationals and Houston Astros in a 150 million stadium. We ll have the high-speed train next year and you can be in Fort Lauderdale in 35 minutes and Miami in an hour--some day Orlando in two hours. There are people from all over the country moving here. Anybody who has a tax event the first thing they want to do is move to Florida. We have more job creators coming here and more retirees coming here. It s very favorable to other places. What are you working on in West Palm Beach that you are most excited about One West Palm between Dixie Highway and Quadrille just south of the north bridge. It s two blocks from the water and Arquitectonica has designed two amazing 30-story buildings. There will be 300-plus units in one tower and the other will have a 200-suite hotel. There will be 200 000 square feet of office a 15 000-square-foot Equinox-style gym a daycare center and two indoor tennis courts convertible into 15 000 square feet of meeting space. I hope to break ground in the next four to five months. In the Northwood area I ve accumulated 22 acres and a half-mile of waterfront. I have some very exciting plans for mixed use there. How did you deal with the ebbs and flows of being up several hundred million dollars and then have a negative position When you are doing great at a young age you think you are Boy Wonder. In 1991 it was no buyers all my properties crashing in value and everyone threatening lawsuits. I spent three or four years in what was like guerilla warfare. I hadn t been married. It was a pretty depressing time. The lesson was don t get too leveraged. Real estate is a cyclical business--some are mild and some will be severe. Don t ever assume it will be a straight ride. There will be bumps in the road and they will come when you least expect it. The audience ready to hear Jeff Greene at the Tideline Ocean Resort and Spa Molly McDonough and Thomas Buchar Jeff Greene Merrie Surace and Gary Lachman MIAMI NEW YORK DENVER LAS VEGAS SAN DIEGO NEW LOCATIONS DENVER LAS VEGAS MIAMI NEW YORK SAN DIEGO BOCA RATON FORT LAUDERDALE MIAMI BEACH NAPLES ORLANDO PORT ST. LUCIE TALLAHASSEE TAMPA WEST PALM BEACH 48 NOVEMBER 2016 www.sfbwmag.com WWW.GMLAW.COM www.sfbwmag.co www.sfbwmag.com NOVEMBER 2016 www.sfbwmag.com .sfb mag co bw ag.co a NOVEMBER 2016 OV OV MBE ER E 1 49 49 EXECUTIVE ROUNDTABLE Tips on Balancing Risk and Growth Panelists Gary Eppinger global CIO of Carnival Corp. and Salomon Sal Sredni former CEO of TradeStation Group The South Florida Executive Roundtable convened a veteran top-level team to talk about fostering innovation and The high-level gathering at Coral Gables Country Club was moderated by Geraldine Schlueter CIO of Pet Supermarket. The panelists Jesus Pe a VP and executive management team member United Data Technologies a South Florida IT and services company. cruise ship operator. which is widely used by advanced traders. SFBW is a media sponsor of the South Florida Executive Roundtable. Here are some of the topics panelists discussed along with their observations and advice. INNOVATION Sredni The larger the company is the more I hear that they want to innovate. I think the problem is with the budgets. When you put a line item in the budget that says innovation be a part of your core DNA. Eppinger Think about creating hackathons--bringing in a lot of smart associates for problem solving. They may not come up with the right answer but they will come up with 10 or 15 things that lead to the answer. Pe a Earmark certain individuals that are R&D or innovators focusing 100 percent on what s next around security cloud and IT services. 50 NOVEMBER 2016 www.sfbwmag.com EXECUTIVE ROUNDTABLE want to know the balances in their account and have somebody answer the phone. CYBERSECURITY Sredni Anyone want to guess how or malware on servers On average it s eight months. The problem is those guys doing all the bad things are ahead. Pretty much all the cybersecurity we have today is looking for stuff we know about. Spend a lot of money on The roudtable was held at the Coral Gables Country Club protect your network. Eppinger We have to think about the people. Back in my GE days to test we hired hackers on the inside and outside of the company. The outside guy got information across multiple GE businesses. The guy on the inside was able to get similar information just being set up as contractor at one GE business. They called me and said Can piece of paper and write You have been We were able to bug Jack Welch s boardroom. Sredni It s a matter of having awarenesss across every single person in an organization. Someone could leave a door open. Someone could answer a phone. Someone could give their personal email address. It s not easy to tell folks you can t have a phone on a network. We had different networks for Moderator Geraldine Schlueter of Pet Supermarket and panelist Jesus Pe a of UDT DISASTER RECOVERY Pe a We have the ability to utilize lot of different service providers. We leverage other blinking eyes in data centers. We focus on the road map and strategy to plan and balance the risk. What can you live without for X amount of time that won t cripple your business That helps form your disaster recovery plan. Eppinger We have taken disaster recovery to another level with facilities in Texas and Miami. If something goes down we can run our whole business from the other environment across the whole portfolio. We have to meet customer expectations 24 7 365. Sredni We co-located with the New York Stock Exchange and the Chicago Mercantile Exchange. Those are pretty safe locations. There is a lot of redundancy in both facilities. Clients don t care if there is a hurricane here. They different people. Pe a We hired someone who worked at Visa and he has created a framework from a cybersecurity standpoint--not only from a planning and assessment piece but architectural design training and insurance. DEALING WITH DATA Sredni Ask whether you are looking at too much data and if it is relevant data. For example traditional retail emphasizes sales per square foot but a new Walgreens CEO said to look at sales per customer. That really exploded their growth. Schluetter When I was at Advance Auto Parts data analytics found some parts failed at eight years of age for cars and that s when they had to be in stores. Other times they could be in the warehouse. www.sfbwmag.com NOVEMBER 2016 51 EDUCATION Quantum Collaboration Palm Beach State College has formed a creative partnership with Modernizing Medicine and the Quantum Foundation to bring health care training to the new Dennis P. Gallon Campus at Loxahatchee Groves. Modernizing Medicine is bringing its cloud- and tabletbased electronic medical records system while the foundation 50 000-square-foot building on the 75-acre campus on Southern Boulevard near Seminole Pratt Whitney Road opens in the spring. SFBW gained insight into the collaboration during a roundtable discussion with college president Ava L. Parker Modernizing Medicine co-founder and CEO Dan Cane and Quantum Foundation president Eric M. Kelly. SFBW Editor Kevin Gale was the moderator. The following transcript has been edited for clarity and brevity. Tell our readers about the new campus. Parker There was this great anticipation by the board and former President Dennis P. Gallon that there was going to be 10 percent growth in Palm Beach County led by the western part. The thought is happening in the western part of the county--what kind of jobs The campus will be home to our Bachelor of Science in nursing degree health information technology associate in science degree What sort of technology will the students be using in the program Cane We are providing the touch-based systems both Apple s iOS and Android and the entire suite of mobile and cloud. The 52 NOVEMBER 2016 www.sfbwmag.com EDUCATION software comes baked in with medical knowledge and automates coding. learning spaces and collaborative workspaces that are designed to be wireless and use cameras. Behind the learning space is a mock using telepresence you can have a student and instructor in the clinic and the rest of the class across the hall. Kelly We re excited to be funding a unique learning lab that helps immerse students in the educational experience. We re underwriting the inclusion of zSpace technology into the school s medical training lab. This is a 3D virtual reality system that enables students to actually navigate through systems and organs in the human body for example and to see them from an internal 3D perspective. You can imagine how that enhances the understanding of the structure of the body and its processes in a whole new way. It s a radical departure from the old textbook days we all experienced as students. This technology is cutting-edge but medicine in the future. This is new to Florida schools. It s rare for schools to be able unique learning opportunities like this lab. Parker This is an interesting building because there are no and we have. With the relationship we have with the Quantum Foundation we can use technology to make sure the students all have the same experience. We have put together a framework that is going to adapt and change beyond what we know now. Give our readers an idea of the size and scope of Modernizing Medicine. Cane Modernizing Medicine started 6 years ago. Today we have over 500 employees and north of 85 million in revenue. The vast majority of employees are in South Florida with a We have expanded after we initially focused on dermatology and ophthalmology. We are the market leader in gastroenterology and the No. 1-rated product in plastic surgery. Modernizing Medicine seems very tied-in with local colleges and universities. Dan I see you are Research Park and are vice chairman of the Board of EDUCATION Modernizing Medicine s Dan Cane and Palm Beach State College s Ava Parker Quantum Foundation s Eric Kelly Trustees at FAU. What opportunity did you see to create a win win with Palm Beach State Cane We had partnered many year ago on ophthalmic technicians--the people that work in and around eye surgery. We provided Palm Beach State with our technology and support so they could create a program around this training. Almost 50 have graduated and 100 percent had employment offers before they were done. We will be able to scale and have a pipeline directly into the college. What is your perspective on the size of the talent pool in the medical records and health care information Parker Our research would suggest there is a great demand for this type of employee in the western part of the county. When you Cane We are living longer lives and we are not creating any more physicians than we have in the last 100 years. If you can t meet increasing demand technology can help overcome that. Tell our readers a bit about the background of the Quantum Foundation. Kelly We were created out of the sale of JFK Medical Center which provided 150 million for the foundation. During over 20 years of grant-making we have given away 120 million to over education workforce and meeting the basics needs of people to support their health. Because we re a hospital conversion foundation we ve always had health at the heart of our mission but we like fresh ideas and partnerships so increasingly we want to work with partners in business and technology who are promoting health solutions. At the same time this project will serve under-represented groups and give them unique opportunities to excel in healthclose to where they live. And that s currently a strategic goal we ve prioritized at the foundation. What are local philanthropy s hopes for a partnership like this Kelly Our hopes are for the local students. Our hopes are for the underserved young people of the western part of the county. This partnership is really a gift of opportunity for those young people. It brings a world-class learning institution within their reach geographically and it brings a challenging health-based career within their reach psychologically. It s no longer a three-hour commute each day to get to school. It makes things manageable and attainable. Our hope is that the young people from this area their home communities where they re desperately needed. What sort of salaries can graduates expect to earn Cane Our salaries for right out of school range from 35 000 ground running. What do you think this means for South Florida Kelly technology and ancillary services. This kind of development enhances the area as a region of medical advancement in the state. The big picture is that opportunity is going to be nurtured here 54 NOVEMBER 2016 www.sfbwmag.com www.sfbwmag.co www.sfbwmag.com NOVEMBER 2016 www.sfbwmag.com w.sfbwmag.co b a c com NOVEMBER 201 OVEMBE 2016 OVEMBE 201 V B 0 55 55 EDUCATION The Florida International University College of Law is one of two locations for South Floridans to earn part-time law degrees Part-Time Path BY MARTIN LENKOWSKY Many students and graduates of South Florida s two part-time law degree programs agree on one thing They couldn t have afforded to study law otherwise. Nova Southeastern University s Shepard Broad College of Law and the Florida International University College of Law are the only two South Florida law schools offering part-time programs. They are tied at No. 52 on U.S. News and World Report s list of the best part-time law programs. NSU law school dean and professor Jon Garon says the school s parttime students come in with more life experience. They can make a professional choice when it s right for our students will stay in their careers they will start taking legal internships. They re very focused on what they ve done with their lives and they apply that Garon says career goals run the gamut among part-time students. We ve seen an increase in the percentage of students who stay with what they ve been doing but want to enhance it with a law degree NSU admits 40 to 60 applicants into its part-time program each fall semester Garon says. The majority take evening classes. A number of electives are online a number are hybrid a Garon says. NSU s program has two major areas of concentration health law and international law. It s a globalized says. The international concentration focuses on areas such as corporate trade and human rights. NSU is part of the International Consortium Program a partnership among 20 law schools globally. A third area is NSU s Global Law Leadership Initiative focusing on the business end of being an attorney. There are only one or two programs of In the most recent bar exam NSU students came in second out of all the law schools in the state he says. Tuition for the program is 28 465 a year. NSU s part-time program. She isn t sure whether she wants to continue with government work or pursue private practice although for now she s focused on taking and passing her bar exam. In reality I ll have to see what job offers 56 NOVEMBER 2016 www.sfbwmag.com Commercial litigator Robert Scavone Jr. left an associate at Hunton & Williams graduated from FIU s program in 2012. FIU College of Law Dean R. Alexander Acosta below says part-time law students have to be incredibly dedicated and incredibly organized to succeed. Ernesto Buitrago a 2012 graduate of NSU s part-time program went on to open his own practice in Fort Lauderdale. During his first two years in law school Buitrago worked as an assistant for a worker s compensation judge in Miami. During the latter half he worked his education. Working with judges and lawyers Acosta sees a high level of dedication from part-time law students. They need to be incredibly dedicated can t afford to leave their daytime jobs. By necessity they have to be incredibly Both full-time and part-time FIU law students have the same admission requirements. Both our programs The FIU law school four-year tuition is 60 000. Robert Scavone Jr. an associate in is a 2012 graduate of FIU s part-time program. His practice focuses on complex commercial litigation. While attending FIU by night he was contractor after earlier working as a law first became interested in law while an evening undergraduate at Florida Atlantic University. He enjoyed a few courses in constitutional law and a professor suggested he consider going He s grateful for the opportunity to take classes that worked with his schedule. I couldn t have afforded to stop working and go to school during Scavone describes his law school experience as challenging. Law students in general have to be good in time be especially true with part-time students. Time management becomes a big issue. Miami-Dade County Police Sgt. Aida Fina-Milan is a part-time student at reimbursement program. I wouldn t be able to stop working and go to school full She plans to practice civil law such as in with her customer service background as a retail manager and a mortgage brokerage. really learn to be a lawyer. You don t really learn courtroom etiquette. It gave FIU College of Law dean R. Alexander Acosta says 75 students currently are enrolled in the university s part-time program with 15 to 20 admitted each year. All courses are Monday through Thursday from 7 to 10 p.m. with no daytime or online courses. He says the quality of the program can be seen in how students perform. You can look at the success of our students says. Part-time students are incredibly successful and diligent and when they enter the world as an attorney they really FIU s program emphasizes international law. We integrate international law into every facet of the our students when they enter the working world. We think they need to be familiar www.sfbwmag.com NOVEMBER 2016 57 MARKETING Rand Marketing made the Inc 5000 list this year. Founder Seth Rand left Rand Marketing CEO and founder Seth Rand discovered his true business calling while working at his family s handbag and purse company in New York. The family-owned business was founded by his grandfather and uncle Career Evolution was amiss. I didn t like the website and they let me focused on search engine optimization. We became No. 1 on Yahoo and No. 1 on MSN sales if you typed BY MARTIN LENKOWSKY in wholesale handbags or wholesale purses. We went from 5 000 to 73 000 a month in a Heinz ketchup factory in Brooklyn. Later on his grandfather began selling purses on the street for additional income. Those efforts blossomed into a 20 million business by the 1990s. But Rand 34 realized early on that the family business grew up doing trade shows. In 2001 I came in to help with On only his second week doing sales he realized something He left the family business opening a brokerage called South Florida Realty and graduating from Florida Atlantic you were searching Google during the real estate boom and Associates from related businesses such as mortgage and title companies asked for help with their businesses and 58 NOVEMBER 2016 www.sfbwmag.com MARKETING websites. That prompted him another career change. I didn t love real created all his signs. I said Let s partner up and offer web design and search engine optimization and by 2009 the web business had surpassed to 2901 W. Cypress Creek Road across from Fort Lauderdale Executive Airport. In 2013 Rand Marketing did 1 million in business and hit 2.5 million in 2015. We were growing about 250 percent over a three-year His company s business growth has earned accolades most recently it placed No. 2 338 on Inc. magazine s 2016 list of the 5 000 fastestgrowing companies. Rand was named to the South Florida Business Journal 40 under 40 and he has been made a Premier Google Partner which puts him in the top 3 percent of Google partners worldwide. Rand is also active in the community. He is a trustee member of the Pompano Beach Chamber of Commerce and is on the board of the Better Business Bureau of Southeast Florida and the Caribbean. A new goal even closer to his heart is his new corporate sponsorship of the Leukemia & Lymphoma Society. Rand s wife Lauren who is also Rand s CFO was diagnosed with an aggressive Stage III non-Hodgkins lymphoma. She is undergoing advanced treatment. Rand s brother Robert also works at the company as chief technology His advice to other entrepreneurs Be proactive and not reactive. Don t wait for people to call you for your service. I believe the only way BUSINESS HAPPENS Very little gets done in business without connections to the right people. Helping business make connections is what we do at the Greater Miami Chamber of Commerce. For more than 100 years this Chamber has been the leader in South Florida when it comes to advancing issues growing jobs closing deals and building a better community. Focused on business excellence leadership industry and community growth international business and public policy the Greater Miami Chamber has the reach and connectivity to make a difference. 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Excellent access to I-95 and the Florida s Turnpike. 60 NOVEMBER 2016 www.sfbwmag.com For leasing information 954.540.6490 or info hsdholdings.com CHAIRMAN CEO PRESIDENT COO CFO CIO CMO SENIOR HR EXECUTIVE THURSDAY OCTOBER 27 2016 NSUwww.sfbwmag.com NOVEMBER 2016 ART MUSEUM 61 LETTER FROM THE CHAIRMAN AND CEO Celebrating the Pinnacle Chairman Gary Press Welcome to the third annual Apogee Awards a tribute to the success of 25 C-level executives throughout South Florida. The region has many business awards programs but this one is unique. Rather than having an awards program for each position such as a CEO awards program one month and a CFO awards another month we bring in the entire C-suite for our awards program. For example this will allow a chairman of one company to meet and network the CEO of another company. experiences challenges and lessons learned. South Florida has a broad geographic sweep so it is rare to have this group all in one place at one time. To get our nominations we sent emails and did outreach throughout the South Florida business community. Our editorial staff did substantial research to help vet the quality and achievements of our honorees. One of the things we like about the Apogee Awards is that it gives widespread public recognition to often appears as a highly visible public face. All of this would not be possible without our sponsors. Special thanks goes to presenting sponsor Mitch Kramer and his Octagon Family of Recruiting Companies (including its divisons of Octagon Technology We would also like to thank our additional sponsors Our Gold Sponsors Dale Carnegie Training South Florida the Miami Dolphins and YTECH International and our Silver Sponsors Brown & Brown d NSU Art Museum Fort Lauderdale. Sincerely Gary Press Gary Press Chairman and CEO South Florida Business & Wealth 62 NOVEMBER 2016 www.sfbwmag.com www.sfbwmag.com NOVEMBER 2016 63 LETTER FROM OUR PRESENTING SPONSOR Top Business Event As CEO of the Octagon Family of Recruiting Companies I am honored to be the Presenting Sponsor of the third annual Apogee Awards brought to you in partnership with Lifestyle Media Group and its magazine South Florida Business & Wealth (SFBW). An Octagon has eight sides and the Apogee Awards is honoring eight outstanding individuals from each of the tri-counties. What makes this CEO of Octagon Mitch Kramer event so special Most of the events that I have attended over the years have recognized just one category of honoree. When SFBW s Chairman and CEO Gary Press and I sat down to discuss what corporate America is really about today we felt that an event recognizing all the C-Suite executives would be a powerful statement of how closely each department companies function effectively with the highest level of success. The match between Lifestyle Media Group and the Octagon Family of Recruiting Companies (including unmatched by its competitors. Octagon is an entrepreneurial explosively growing professional recruiting on all types of interesting people and companies in the community. Octagon connects the top-talent in human resources and general search. On behalf of the entire Octagon family I am both proud and humbled to have sponsored this year s event and had the opportunity to meet such a remarkable group of honorees. I would like to personally congratulate each and every honoree for being selected as a recipient of this prestigious award. 2016 marks the second of many years of partnership with SFBW and I want to thank the SFBW team for making this a wonderful experience for us Warm regards Mitch Kramer CEO 64 NOVEMBER 2016 www.sfbwmag.com CONGRATULATIONS APOGEE HONOREES TO ALL 2016 AWARD www.sfbwmag.com NOVEMBER 2016 65 AGENDA THE APOGEE AWARDS OPENING CEREMONY Entertainment provided by Dillard Performing Arts WELCOME Gary Press Chairman South Florida Business & Wealth PROGRAM OVERVIEW AWARDS PRESENTATION Octagon Family of Recruiting Companies Mitch Kramer President & CEO Dale Carnegie Training South Florida Scott Garvis CEO Miami Dolphins YTECH International Yamal Yidios Char Founder and CEO CLOSING REMARKS Gary Press Chairman South Florida Business & Wealth THANK YOU TO OUR SPONSORS South Florida Business & Wealth would like to recognize and thank our Presenting Sponsor Octagon Family of Recruiting Companies our Gold Sponsors Dale Carnegie Training South Florida Miami Dolphins YTECH Gray and NSU Art Museum Fort Lauderdale. Presenting Sponsor FA M I LY O F R E C R U I T I N G C O M PAN I E S Gold Sponsors Silver Sponsors 66 NOVEMBER 2016 www.sfbwmag.com Ocean Bank proudly recognizes the achievements of CFO Congratulations to all the Apogee honorees and award winners. oceanbank.com 2016 Ocean Bank. Member FDIC. 68 NOVEMBER 2016 www.sfbwmag.com www.sfbwmag.com NOVEMBER 2016 69 THE HONOREES SENIOR HUMAN RESOURCES EXECUTIVE Denese Edsall Broward College BROWARD Viviana Santisteban AmeriKooler Santisteban has more than 20 years experience in human resource management and heads the HR team for an innovative and progressive manufacturing company overseeing benefits administration talent acquisition employee relations career development legal issues and more. Her background includes leadership roles in hospitality and manufacturing industries in the United States and abroad. She has worked for Mandarin Oriental Four Seasons Nobu Hospitality. MIAMI-DADE Ellen Finnerty Vitacost BROWARD Edsall is executive director for human resources having joined the college in March 2007 and serving in her current capacity since 2010. She is a member of the senior leadership team responsible for all aspects of human resources and strategic initiatives in talent management. Before joining Broward College she was an HR manager for the city of Hollywood and a compliance of Equal Opportunity. She has held a Florida Supreme Finnerty has more than 20 years experience in human resources building environments that encourage management and employees to achieve their full potential. She is for a leading online retailer of health and wellness products a division of Kroger. Previously she was senior vice president of human resources for First Capital a specialized vice president of HR for Fidelity National Information Services and Palm Beach National Bank and Trust. 70 NOVEMBER 2016 www.sfbwmag.com The book that started it all The secrets of success aren t so secret ... SALES EFFECTIVENESS LEADERSHIP DEVELOPMENT COMMUNICATION SKILLS PRESENTATION SKILLS CUSTOMER SERVICE TEAM MEMBER ENGAGEMENT SouthFlorida.DaleCarnegie.com www.sfbwmag.com NOVEMBER 2016 71 THE HONOREES CHIEF MARKETING OFFICER Marc Cannon AutoNation Cannon oversees the company s marketing advertising communications community affairs and public policy. He has more than 30 years of executivelevel experience in automotive industry communications branding advertising and public policy. He directs the company s communications with investors industry media and the marketplace. Before joining AutoNation Cannon was CMO and senior vice president of marketing for Blue Dot Services a national network of home repair and services contractors. BROWARD The Keyes Company With experience in strategic planning creative strategy graphic design direction public relations and event production Renaldo s of her company s successes since joining in 2008. Originally the marketing director she helped to drive the company s marketing and advertising to new levels as its youngest CMO. She led a full rebranding of the 90-year-old organization from 2014 to 2016. She has been included among the 100 Outstanding Women of Broward County. Paula Renaldo MIAMI-DADE Margie Kupfer 3Cinteractive As vice president of marketing Kupfer develops the marketing strategies that drive growth and support her company s leadership position in mobile marketing services. These responsibilities include lead generation brand positioning product marketing public relations and event management. She works directly with sales and business development to create inspiring content proposals and relationships with clients and the industry. Margie was preivously the vice president of marketing at Lord & Taylor. PALM BEACH 72 NOVEMBER 2016 www.sfbwmag.com www.sfbwmag.com NOVEMBER 2016 73 THE HONOREES CHIEF INFORMATION OFFICER Seminole GamingSeminole Hard Rock Hotel & Casino Young has served as senior vice president and CIO since 2012. The company has 2.3 billion in revenues produced from seven casinos and employs 11 000 people. Previously he was vice president and chief technology senior director of information technology at Motorola and leader for marketing and product development at United Health Group. He also held a senior tech position at Harrah s Entertainment. Bob Young BROWARD Charles Grau United Data Technologies Grau is CIO and vice president of operations for the information technology company used by businesses throughout the Southeast. He has more than 20 years experience in IT management working with top-tier companies specializing in aerospace defense airframe engine new part distribution surplus material and multiple component repair businesses as well as commercial construction. Previously he was vice president of IT at AeroTurbine in Miami. MIAMI-DADE Melvin Kirk Ryder System Kirk is CIO of a Fortune 500 dedicated transportation and supply chain solutions company. He is responsible for all aspects of Ryder s IT organization including technology vision and strategy operations and project management infrastructure and software development resource optimization and systems development lifecycle. He also is a member of the company s executive leadership team. Kirk joined Ryder in March 2012 as vice president of quality. MIAMI-DADE PALM BEACH Donald Hankus MDVIP As CIO Hankus draws upon his experience as a health care technology executive with more than 20 years success in building and leading top IT teams delivering customerfocused solutions and directing large-scale change initiatives. His experience began as an entrepreneurial founder and president of MicroStar Computers. Most recently Hankus was CIO for Clarient a former subsidiary of GE Healthcare specializing in cancer and molecular diagnostics and research. 74 NOVEMBER 2016 www.sfbwmag.com CO N G R AT U L AT I O N S Ryder Senior Vice President and Chief Information Officer Melvin Kirk the recipient of South Florida Business & Wealth s Apogee Award for Outstanding CIO. THE HONOREES CHIEF FINANCIAL OFFICER Holy Cross Hospital Wilford has served as the hospital s senior vice president and CFO for more than 16 years. She has more management experience. She is oversight strategy and stewardship. In 2009 she was promoted to regional CFO for Catholic Health East South Florida and became responsible for the and Mercy Hospital in Miami. She successfully consolidated the managed both hospitals saving millions. Linda Wilford BROWARD Stan Rubin Ocean Bank Rubin joined as executive vice president and CFO in March 2010. In 2011 he took on the role of chief state-chartered commercial bank headquartered in Florida. During the last six years Ocean Bank s non-performing assets as a percentage of total assets were reduced from 14 percent to 1 percent. Years of Previously Rubin was a senior vice president and CFO of Citibank Citigroup s Central American region. MIAMI-DADE Vision Group Holdings Moody has more than 20 years of progressive finance experience with Fortune 500 and middle-market enterprises. Currently he is CFO of the largest ophthalmic surgical company in North America. Before joining Vision Group Holdings Moody was vice president of finance of ABB Optical Group the nation s leading contact lens distribution platform. He also held involving corporate planning and analysis business unit finance and global treasury. Carr Moody PALM BEACH 76 NOVEMBER 2016 www.sfbwmag.com www.sfbwmag.com NOVEMBER 2016 77 THE HONOREES CHIEF OPERATING OFFICER David Henshall Citrix Systems Henshall joined the company more BROWARD Gonzalo Navarro ArX Solutions Navarro leads the architectural visualization firm s efforts in 3-D computer graphics and virtual reality experiences. In 1996 he and his brother Patricio founded the architectural firm ArX Arquitectura in Argentina. Navarro States in 2003 creating what is now ArX Solutions. He has been in charge of ArX s entire production steadily increasing quality and enabling the company to become one of the world s leading architectural visualization studios. MIAMI-DADE Howard Wander Kelley Kronenberg Wander serves as a principal partner is the managing partner at its West Palm of the firm s property and casualty practice group. Wander also directs the regulated-substance practice group. He concentrates his practice on insurance defense litigation and property and casualty defense and focuses on the representation of employers third-party administrators and insurance carriers. He is rated AV Preeminent by Martindale-Hubbell. PALM BEACH building a balanced portfolio of growth investments maintaining a scalable operational infrastructure and ensuring During his tenure Citrix has grown from about 500 million in annual revenue to 3.28 billion in 2015. Henshall previously worked at several of the industry s leading companies including Rational Software Corp. Cypress Semiconductor and Samsung Electronics. 78 NOVEMBER 2016 www.sfbwmag.com WELCOME TO THE EVENT OF YOUR DREAMS We pride ourselves on providing the best Emcees DJs Special Effects LED Lighting Performers Musicians and more. We use only top quality Sound and Lighting equipment and performers available to bring you the best performance We have over 15 years of experience with many diverse crowds from all over the world. Our music selection will cater to your audience and our Emcee style will set the tone so everyone will have an amazing time at your event. If you are looking to have an event that people will talk about for years to come Sarz Entertainment is the right choice. Come see why we are the best South Florida has to offer. WE WILL SEE YOU ON THE DANCE FLOOR www.SarzEntertainment.com www.sfbwmag.com NOVEMBER 2016 79 THE HONOREES PRESIDENT Edward Pozzuoli Tripp Scott BROWARD Alex Rodriguez-Roig Boys & Girls Clubs of Miami-Dade MIAMI-DADE Vickie Anenberg PALM BEACH Pozzuoli a Martindale Hubble-rated AV lawyer was elected president of the litigation practice. As a litigator and negotiator he has extensive experience handling state county and local government issues. He focuses his practice on educational and commercial litigation with particular emphasis on constitutional and governmental litigation administrative and election law. In the 2000 presidential election he was a member of the Bush-Cheney team and was involved in the recount litigation. Rodriguez-Roig came to the United States from Cuba at age 5 and believes in helping less-fortunate children by providing them hope freedom and opportunities. He brings this belief to his presidency of the organization a role he has held since 2003. Early on he concentrated on bringing More than 25 years of health care staffing experience have helped Anenberg lead the largest division of publicly traded Cross Country Healthcare to the forefront of the health care-contingent labor industry. Under her leadership Cross Country 55 million to more than 10 times that. expanded its 4 million annual funding sources and increased its unrestricted cash reserves from just over three weeks to three months worth. after a successful tenure at Procter & Gamble. She brought focus to Cross Country s branding strategy and helped it pioneer managed-service programs in the health care labor space. 80 NOVEMBER 2016 www.sfbwmag.com The Brown & Brown Team would like to congratulate the outstanding Honorees of the 2016 Apogee Awards The Brown & Brown Team Fort Lauderdale Division - 1201 West Cypress Creek Road Suite 130 Ft. Lauderdale FL 33309 Home Auto Ph. 1-800-330-3241 Fx. (954) 771-9192 privateclientgroup bbftlaud.com www.bbftlaud.com Marine Yacht Ph. (954) 331-1405 Fx. (954) 776-4446 raizprua bbftlaud.com www.brownandbrownmarine.com Auto Aircraft Bonds Condominium Collectables Commercial Flood Health Benefits Homeowners Liability Marinas Umbrella Workers Comp Yachts www.sfbwmag.com NOVEMBER 2016 81 THE HONOREES CHIEF EXECUTIVE OFFICER Roscioli Yachting Center Roscioli began his career in the marine industry in 1962 and within a year developed the painting technique that launched his world-renowned companies Roscioli Yachting Center and Roscioli Donzi Yachts. Today he applies his experience technical knowledge and standards into all facets of custom yacht building and maintenance. In 1986 he became a dealer for Donzi Marine s yacht division. Within a year he 65-foot Roscioli Donzi yacht. Roscioli Yachting Center is a fullservice facility. Holtz was named chairman of the board and CEO in 2010. He has more than 20 years experience in banking. He has been president of Capital Factors and executive vice president regional senior credit Planters Bank. Under Holtz s leadership Marquis Bank s assets have reached more than 300 million. In April 2014 the U.S. Treasury Department reported Marquis Bank achieved the largest increase in qualifying small business loans among 14 Florida banks. Bob Roscioli BROWARD Javier Holtz MIAMI-DADE Janna Ronert Image Skincare The company s founder and CEO is an acclaimed international speaker on health and beauty. She is an advocate for public service and travels the world promoting healthy skin and wellness. When she s not traveling she regularly collaborates with celebrated chemists at Image Skincare s Palm Beach County headquarters. In 2012 she received an Ernst & award. Her founding philosophies of simplicity value and results remain the paramount philosophies of Image Skincare. PALM BEACH 82 NOVEMBER 2016 www.sfbwmag.com T H E PAT H T O R A D I A N T S K I N Studies show improvement in skin hydration in 100% of participants in 30 days Studies show improvement in appearance of fine lines in over 70% of participants in 30 days Studies show improvement in skin elasticity in 76% of participants in 30 days Source Third Party Clinical Studies August 2016 - Clinical study was conducted using Corneometer CM 825 to measure water content of skin and hydration level. - Clinical study was conducted using Cutometer MPA 580 to measure firmness and elasticity. - Clinical study included photography for expert grading of skin radiance and Vaestro image analysis (Canfield Visia CR system of fine lines and wrinkles. YANATM is a revolutionary beauty liquid designed as an easy to drink daily shot. It contains LumiplexTM technology a highly concentrated proprietary blend of collagen peptides ceramides antioxidants and vitamins which helps to restore the essential elements your skin needs to regain and maintain its youthful appearance. The path to radiant skin has never been easier. IF INTERESTED IN CARRYING YANATM IN YOUR PROFESSIONAL ESTABLISHMENT PLE ASE CONTACT US AT w w w. i m a g e s k i n c a re . c o m 1.800.796.7546 www.sfbwmag.com NOVEMBER 2016 i n f o i m a g e s k i n c a re . c o m 83 THE HONOREES CHAIRMAN Moss & Associates Moss founded his company in 2004 with two projects and two employees. Today the privately held construction manages innovative award-winning projects across the United States. He built his career during the past 47 years with experience in a diverse portfolio of construction projects spanning North America including facilities for transportation (rail stations cruise terminals civil works and airports) health care military and space research retail and education correctional and sports. Bob Moss BROWARD W. Allen Morris The Allen Morris Co. Morris is chairman and CEO of a 58-year-old organization that is one of Florida s largest developers and managers MIAMI-DADE NAI Merin Hunter Codman Merin has a broad background in all phases of commercial real estate work including investment sales tenant representation site acquisition development consulting corporate and industrial facilities. His specialty involves facilities. He is the founder and chairman of his West Palm Beach property management company which manages 5 million Neil Merin PALM BEACH Florida and Georgia. In 2013 he launched Allen Morris Residential which is constructing its 80th (a 58-story luxury condominium and hotel SLS Lux Brickell Miami) 81st (a 348-unit apartment project in St. Petersburg) and 82nd (a 220-unit apartment project with 35 000 square feet of retail in downtown Maitland) projects. Palm Beach County. 84 NOVEMBER 2016 www.sfbwmag.com A CAREER BUILT ON EXPERTISE INTEGRITY AND TRUST. Congratulations To Our CEO and Distinguished Leader BOB MOSS. From our Florida roots to the national stage Moss m reputation for innovative and award-winning has a rep r construction bold thinking safety-first values const constru outstanding employee satisfaction and trusted outstan utstan business busi e busines partnerships across the United States. California Florida Hawai i Texas US Virgin Islands fornia mosscm.com 855.360.MOSS CGC 1511059 www.sfbwmag.com NOVEMBER 2016 85 Enjoy the experience 86 NOVEMBER 2016 www.sfbwmag.com 2009 NW 25th Ave. Pompano Beach FL 33069 954.971.8484 www.classicpartyrentals.com On behalf of the entire team at OCTAGON I would like to personally congratulate each and every honoree this evening at the third Annual Apogee Awards event. Your accomplishments at your companies and your commitment to the community are what set you apart. Enjoy this wonderful evening. It is all about honoring each of you and we are proud to be able to be a part of this unique and special event MIAMI-DADE FT. LAUDERDALE BOCA RATON www.octagonsearch.com www.sfbwmag.com NOVEMBER 2016 87 EXECUTIVE PROFILE ATTORNEY BEN SOLOMON LEADS THE BUILDERS ASSOCIATION OF SOUTH FLORIDA (BASF) FORWARD AS NEW PRESIDENT For the first time since 1944 a non-builder is at the helm of the Builders Association of South Florida (BASF). Prominent Miami real estate attorney Ben Solomon took over as the new president of the BASF in January of this year and will serve a 2 year term until December of 2017. Mr. Solomon previously served as vice president and general counsel of the BASF and also serves as corporate counsel to the Miami Association of Realtors the largest realtor association in the country. Mr. Solomon is the managing partner of ALG a law firm which represents hundreds of condominiums and HOAs and also owns a title company and boutique law firm Solomon & Furshman that represents real estate developers hotels banks and REITs. The BASF has a proud tradition of over 70 years of success as South Florida s leading legislative voice and trade organization for builders contractors and affiliated business professionals in Miami-Dade Broward and Monroe counties. BASF is the local charter of the Florida Home Builders Association (FHBA) and the National Association of Home Builders (NAHB) with over 300 000 members nationwide. The BASF has flourished over the years into one of the most recognized and respected organizations in South Florida. The BASF s distinguished leadership also includes Honorary Chairman CEO of Coastal Construction Tom P. Murphy Jr. former FHBA President Al Zichella and Executive Officer and Legislative Affairs Director Truly Burton. Among other BASF industry leaders some of its trustees include Adonel Concrete Lennar Coastal Construction Related Group Flagler TGSV Prime Group BTI Weitzer Communities Comcast BB&T City National Bank Greenberg Traurig Akerman Holland & Knight Berger Singerman Bilzin Sumberg ALG Title Company of Florida and The Green Companies. Since Mr. Solomon has taken over as president the BASF has grown by over 25% in membership and now hosts premier monthly events featuring its members latest development projects such as City Place at Doral Paramount World Center Brickell City Center Playa Largo Amaray and The Bond. The BASF is also bringing back its highly coveted Florida s BEST Awards program sponsored by Comcast which will recognize the top new development projects in South Florida at Jungle Island on Saturday November 5th. Throughout the decades the BASF has served as the leading legislative voice of builders in South Florida and spearheads lobbying on local state and federal issues impacting builders and other members of the real estate development community. The BASF has a full time government affairs director and staff with decades of experience in handling important legislative issues as well as a Florida Building Code consultant and affiliated lobbyists in Tallahassee Florida and Washington D.C. Among other important legislative victories this year the BASF successfully lobbied against a number of potentially adverse changes to the Florida Building Code and is currently opposing mandatory inclusionary zoning in Miami-Dade County while proposing a better voluntarily alternative to the County Commission in order to help solve the problem of work force housing. For more information on the BASF please visit the organization s website at www.BASFonline.org or call 305-556-6300. BASF President Ben Solomon Esq. Honorary Chair Tom P. Murphy Jr. Executive Officer Truly Burton and Vice President Al Zichella 88 NOVEMBER 2016 www.sfbwmag.com At Debt.com we re experts at connecting people and businesses to the financial solutions they need to get ahead. ATTENTION Real Estate Professionals Mortgage Loan Officers Tax Preparers Financial Advisors... Turnkey Business-in-a-Box Financial Solutions for Your Business. Credit Correction Student Loan Consolidation Credit Card Debt Help Tax Resolution Loan Resources Financial Tools Visit Debt.com today or call 800-810-0989 for additional information. www.sfbwmag.com NOVEMBER 2016 89 LAW Akerman s David Spector prepares to takeover for Andrew Smulian BY DAVID LYONS THE HANDOFF Not long after Akerman LLP the state s largest law firm moved its Miami offices from the SunTrust International Center to the new upscale Brickell City Centre the firm announced a plan for a changing of the guard at the top. Chairman and CEO Andrew Smulian 70 who became the David Spector 45 in February 2018. Akerman grew by more than 200 lawyers to reach 640 during Smulian s eight-year watch. It has 100 lawyers in New York and nearly 50 in Chicago where it opened for business just two years Am Law 100 last year at nearly 340 million in revenue. pointed to what he called an entrepreneurial culture that provides compelling opportunities for our lawyers to elevate their performances. This opened the door for me to launch Akerman s Persistent complex fraud schemes against insurers self-insured sophisticated he adds. Companies increasingly want to be more to the efforts against fraud he says. We see data law as a vital practice particularly as the volume and mobility of corporate data Prosecution of investor fraud and Ponzi schemes continues to rise he says. agility and our continuing investment into our R&D [research and development] activities we are well positioned to address the Smulian acknowledged that the Latin American market in disrupted by political and economic problems in nations such as Brazil Mexico and Ecuador. Positive indicators are seen in Argentina Colombia and Mexico countries like Chile and Peru have remained steady and he says. We introduced a relatively new concept to Miami s legal market by incorporating shared workspaces and equal-sized turned concepts such as collaboration and transparency into convention and created a working environment that is both David Lyons is a past editor-in-chief of the Daily Business Review. He is principal of Lyons Strategic Communications of Fort Lauderdale. Akerman is strong in middle-market mergers and acquisitions and private-equity transactions as well as legal matters across United States and Latin America he says. Akerman s fraud and recovery team quickly has become one of the largest in the United States he says adding that its trial team also has seen unprecedented growth with nearly 50 litigators joining in recent weeks in Chicago Dallas Houston Los Angeles Miami and other markets. That team was formed by Spector who was chosen to succeed 90 NOVEMBER 2016 www.sfbwmag.com Entrepreneurs Organization The Entrepreneurs Organization (EO) is a global business network of 11 000 business owners in 150 chapters and 48 countries. Founded in 1987 by a group of young entrepreneurs EO enables small and large business owners to learn from each other leading to greater business success and an enriched personal life. The EO South Florida chapter is one of the top 5 chapters worldwide and helps leading entrepreneurs learn and grow through peer-to-peer workshops once-in-a-lifetime experiences and connections to experts. Visit EOSOFLO.com Ask a South Florida Entrepreneur Victor Arocho Managing Partner Potential Sales & Consulting Group-potentialsalesgroup.com We are an established sales growth firm whose goal is to provide value for its clients and change the way the world views the Sales profession. Our team works with clients globally supplying an array of sales solutions to help clients fix sales problems. We have assisted companies from 4M to 2B grow their business on an average of 43% or more. Proudest Accomplishment Being selected as the Sales Lab Lecturer at Nova SE University Huizenga Sales Institute MBA and Undergraduate classes. Greatest Challenges Helping CEO s outsource their Sales team to PSCG whose core competency is Sales. What motivates me I am motivated to change the world on how the Sales profession is viewed particularly college students. Sales is one of the highest paid and hardest professions. What do you love about what you do The close Closing a deal helping people close deals and then celebrating the win with the team. In Sales the failure rate to close is so high that it makes the close that much sweeter. Most memorable EO Experience A Tom Fazio story from EO. He told Wynn that to build what he wanted will cost you a lot. Wynn responded That s not your job to worry about finances it s mine. Thus you have the Wynn Golf course in Las Vegas. What distinguishes your company Our team of Associates and Partners are available for our clients 24 7. We work hand in hand with our clients whether it is working with their Accounting team or making calls together to generate new business. Recent Book The Complete Guide to Accelerating Sales Force Performance. Andris A. Zoltners Ph.D. Prabhakant Sinha Ph.D. Greggor A. Zoltners David Finkelstein CEO BDEX LLC - bigdataexchange.com BDEX helps marketers gain access to the widest available range of consumer data enabling them to increase consumer engagement by enhancing their ability to reach their target audience across all media channels including display advertising email marketing mobile advertising and direct mail. Proudest Accomplishment Started my first business 6 months out of college and sold it 6 years later for over 2M. Greatest Challenges Our greatest challenge has been raising capital. We have been successful so far raising about 2M but with about 4M more to raise I see this as our biggest hurdle to successfully executing our business plan. What motivates me While I believe my family is proud of my accomplishments I want to show my daughter that like me she can accomplish anything with drive and dedication. What do you love about what you do I love building something from nothing and looking back knowing I was not only able to build it but provide a place where people enjoy working and are able to earn a living and provide for their families. Most memorable EO Experience NERVE 2016. This year was my first time attending and both my wife and I found it to be truly moving experience. I believe I will look back some day and see that event as a turning point in our lives. What distinguishes your company BDEX provides a simple process for learning more about your existing customers and gaining access to new customers using highly targeted data across over 5000 categories from over 70 different sources. Recent Book The 4 Disciplines of Execution by Sean Covey www.sfbwmag.com NOVEMBER 2016 91 COMMERCIAL REAL ESTATE Warning Signs Hot Investments Might Cool Soon BY DARCIE LUNSFORD U.S. regulators continue to caution that the nation s hot market for commercial real estate investments might be overheating. And you don t have to look much further than the extended period of low interest rates paired with strong investor demand--both domestically and internationally--to see the potential for a bubble. Federal Reserve Chair Janet Yellen and Boston Fed President Eric Rosengren are among the Pavarotti-stature songbirds singing the tune that the rapid rise in commercial real estate valuations are built largely on existential stimulus not necessarily the fundamental building blocks of rent growth and tenant demand. Following the Fed s late-September Federal Open Market Committee meeting Yellen addressed the sector s current high price-to-rent ratios and low capitalization rates under which today s bullish commercial real estate buyers are underwriting assets. We ve recently issued new supervisory guidance pertaining to commercial real estate. I would say that in the area of commercial real estate that while valuations are high we are seeing some tightening of lending standards and less debt growth associated with the rise in commercial real estate signs of leverage building up or maturity transformation in the way that we saw in the run-up to the crisis and we re keeping A Fed survey found banks tightened their standards on commercial real estate loans in the second quarter even as loan demand strengthened. It s possible that we will make a market correction but it is hard to tell when a market is just a little frothy as opposed to being in a senior economist for Wells Fargo. The ones that seem to be the most frothy are the ones that seem the most tied to the global economy with the most capital coming in. Miami is certainly one of REAL CRE PROPERTY PRICES ARE BACK AT HISTORICAL PEAK Index (Jan 2000 100) 170 150 Real Price Index Commercial Real Estate (Federal Reserve Board) Residential Real Estate 9Case-Shiller) 130 110 90 70 50 1950 1955 1960 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015 92 NOVEMBER 2016 www.sfbwmag.com COMMERCIAL REAL ESTATE data shows. I think this may be one of the most dangerous phrases says. But it is really different this time. It really has been a Miami with its iconic skyline mega-city sizzle and feel a commercial real estate cold front. Suburban markets in Palm Beach and Broward would be more likely to feel the chill We are seeing a slight slowdown in inventory coming to it has less to do with what the Fed is talking about--although buyers are being more prudent with acquisitions--and more to do with diminished opportunities for incoming buyers to add value to properties. So many of the value-add properties have Even so O Donnell says I don t see any kind of major Freelance writer Darcie Lunsford is a former real estate editor of the South Florida Business Journal. She is the senior VP for in her column by not covering her own deals. Amerikooler walk-in coolers and freezers are that cold. make our coolers and freezers as cold as this list for years. When your rapidly growing business is heating up let Amerikooler keep you kool. amerikooler.com Time to trade the corner office for your own little corner of the world A Transworld business advisor can get you there. Every day Transworld Business Advisors connects quality top-paying acquirers with business owners ready to sell and move on to the next stage in their careers. As the world leader in business sales franchising and mergers and acquisitions Transworld has access to a huge database of individual domestic and immigrating buyers and strategic corporations looking for the right business opportunity. And Transworld has the expertise to ensure any business sale goes smoothly. So whether you re ready to sell your business or buy an existing business or franchise contact a Transworld Business Advisor for a free consultation today. Andrew Cagnetta OWNER CEO 800.205.7605 t world.com www.sfbwmag.com NOVEMBER 2016 93 TECH HUB Cloud Security and IoT at IT Palooza 2016 BY CHRIS FLECK More than 2 000 registrants 25 speakers 100 sponsors and organizations from across South Florida are expected at ITPalooza a gathering of the region s nonprofit technology user groups. The fifth annual event Dec. 8 at Signature Grand in Fort Lauderdale is daytime learning and nighttime networking a full day of tech and geekspeak in which attendees may choose the parts in which they want to participate. This year s theme Cloud Security in IT today and the event will be a great place to learn from experts in the industry and meet new contacts with whom to engage. I attend every year always learning something valuable while meeting new contacts. My favorite part is learning about startups in the area building new technology and IT shops operating on the bleeding edge of tech. In addition to a hiring fair technical sessions and vendor exhibits ITPalooza will feature a dedicated management track focused on the unique needs of CIOs and other top-level IT executives. It s being held in conjunction with the iCoast CIO Council. The audience typically ranges from IT pros and developers plus analysts CIOs and tech CEOs. ITPalooza is organized by the South Florida Technology Alliance a nonprofit organization that promotes the growth success and awareness of the South Florida technology community for more than 20 years. Advance tickets are available at itpalooza.org. Sponsorships are also available with an opportunity to join Amazon Web Services Tesla Motors and 100 other sponsors that want to engage with the South Florida Tech community. Chris Fleck is on the board of the South Florida Technology Alliance and vice president of emerging solutions for Citrix Systems (Nasdaq CTXS) a Fort Lauderdale company that provides secure delivery of applications and data. 96 NOVEMBER 2016 www.sfbwmag.com S P E C I A L M A R K E T I N G F E AT U R E CHRISTINA NICHOLSON IF YOU OWN A BUSINESS YOU NEED TO START BLOGGING question. Many people thought it a place online where a stay at home would write about raising her kids. Other moms would read it share it with their other mom friends and either agree and become a fan of the new found mommy blogger or disagree and start their own blogs just to post a rebuttal. Blogging is so much more than learning how to make baby food from scratch or sharing a story about a too short maternity leave. Today it is what drives people to your website. In business the more eyes on your website your digital storefront the more opportunities you have to close deals make money money and take things to the next level. Through posts you will slowly increase your search engine optimization or SEO so potential clients and customers will find you easier and quicker. Also your posts serve as a platform for you to promote yourself as an expert in your industry. On a blog you re sharing your thoughts feelings opinions and even experiences to become liked known and trusted. That s who people do business with. Not too long ago my former co-worker at the local NBC station called to ask if my client a psychotherapist would be be willing to go on camera to lend her expertise for a story a reporter was working on. When I told her my client was out of town she took the next natural step to find what she needed. Google. The first psychotherapist she found was available and earned TV time free of charge. If that professional didn t have a blog that would have been a missed opportunity. Improve your website s SEO When you build your company s website you probably worked with a website developer and content creator who explained the importance of using certain keywords to drive people to your website. Well after a while those keywords become old. It s important to stay up to date with what people are searching and updating the content on your website with those new keywords on a consistent basis. If you don t maintain your website with fresh material you will fall further and further away from the top of a Google search. When you search for something online how many times do you make it past the results on page one What about page three Remember if you re not blogging to keep your business front and center your competitor is and will be discovered before you. Promote yourself as an expert We live in a sales driven world. Everyone is selling something - a product a service an experience and the list goes on. Before buying anything a consumer asks themselves at least one question Do I trust the person trying to sell me So how do you become trusted You become known as the go-to person in your industry. Promoting yourself as an expert in your industry isn t hard. You can hire a public relations firm to help you can network with other industry professionals to get the word out or you can post it online for potential clients and customers to find read and react. With public relations you re not always sure how a journalist will write or air a story that features you. At a networking event you may waste your time with connections who aren t beneficial. When you blog you have complete control over what is written how it s written and the where it s distributed. Becoming a blogger In business offline and online you want to reach a potential client or consumer by speaking their language and showing them you have a solution to their problem. When you speak their language you are using keywords. With those keywords you are showing that person you are an expert in your line of work. If this is how you would speak over coffee or on a phone call then why not carry that conversation online Today one of the best moves you could make to increase sales is becoming a blogger. Christina Nicholson is a former TV reporter and anchor who now owns and operates Media Maven a public relations firm. She specializes in media relations video production writing and blogging. Contact her at Christina MediaMavenAndMore.com. www.sfbwmag.com NOVEMBER 2016 97 SALES STRATEGIES Are You a World-Class Performer BY GRETA SCHULZ Should I hire a coach I mean I have been in business for a long time and I do go to a lot of seminars. I feel like I can learn That s what my client Darlene asked me. To help her understand if she should hire a coach I tried to help her think through what she does. Knowing she is incredibly fit I answered Darlene I don t know if you should hire a coach but let me ask you a couple of questions. I know you work out--we ve talked about that before. And I know you go OK so why do you have a coach You know how to work She told me that the coach taught her exactly how to do things the right way on each piece of equipment. She also kept her accountable. She was with her every step of the way and pushed her when she got tired and didn t want to go any further. So I said Well let me ask you something Darlene Say you hired a coach for one day you were new to working out and you went to the gym with this coach. The coach walked you around to each piece of equipment showed you exactly how to use the equipment told you how many repetitions you should do on each piece of equipment and how to use it for the best result-- and then you never hired that coach again. How long you think So what are the things that you gain from a coach Here s a list Set up the right activities that you should be doing on a regular--daily weekly monthly--basis whether it s a business coach a sales coach or a fitness coach. They create true accountability where they work you through these activities or you report back that you ve done them and discuss how. Keep youself doing things properly by constantly reinforcing what you re doing making slight changes so you do it right and knowing when and how to bring you to the next level for maximum results. There are many reasons each person decides to hire a coach. But I find it interesting when I talk to people in sales who say Well I know it s a good idea to get a coach at the beginning. But I ve been in sales for a lot of years and I don t need a coach. I would always point to Tiger Woods who once was the world s best golfer although things have changed in recent years. He had a swing coach. He had a pitching coach. He had a putting coach. He had a fitness coach. If you can tell me that you re better at your business than Until you can say that sign up. Greta Schulz is president of Schulz Business a sales consulting As we had this discussion and laid it out she began to understand the reason you need a coach in other parts of your life whether it s business or more specifically sales. People often tell me they are a people person and it s all about relationships so with their personality alone that will work. Good luck. is NOT to Sell and works with Fortune 1000 companies and entrepreneurs. For more information or free sales tips weekly video tip series or email sales questions to greta schulzbusiness.com. 98 NOVEMBER 2016 www.sfbwmag.com PEOPLE PASSION AND PROFITS Flow The Ultimate State of Creativity and Innovation BY STEPHEN GARBER As I write this summer is almost over at least in Florida for driving our behavior. to and for others. To our bodies they tell us a lot about what s going on in our thoughts and feelings and they call for attention when something is not right. To others what they are really telling us about what is going on for them their team their part in our business or family or friends To the world listening observing responding as much as possible in the moment not based solely on our world view which comes from the past. The print on the wall in our vacation rental shows the nervous stress to seek rest or recreation to cease working to cast off anxiety. When we do relax we often hit a aware of and take care of ourselves that s when all the training and preparation pay off. We just know and trust our readiness our abilities ourselves. The ideas come with ease. They might not all be worldchanging but there is almost always a gold medal idea in there when we as the I am off to the beach to deepen my have not yet started. The Olympics are inspiring us with all distraction of a spoiled entitled and irresponsible 32-year-old swimmer who s stealing the spotlight and insulting everyone s intelligence. In short it s life as we know it exciting and entertaining frustrating and challenging and sometimes confusing and uncertain. As we move back into our fourth quarter after our summer be and how to get there while enjoying the journey. Like many baby boomers I was brought up on the work ethic so much so that I even carry some slight guilt when I go on vacation. Have I worked hard enough Can we really afford it Do I deserve it I have to use a lot of discipline to shut down turn off disconnect. All those emails and responsibilities are screaming down that little electronic device at me. Even this column is being written as a last task a bit over the line into the vacation space. I am using this moment to remind myself and you that the key to true success is often not how hard we work nor is it how smart we are and that luck plays only a random and usually small part in our success. What does work is connecting To our thoughts so we know what s Steve Garber is director of Third Level Ltd. Contact him at 561.752.5505 or sgarber thirdlevel.com. www.sfbwmag.com NOVEMBER 2016 99 THE FAMILY OFFICE can address cyber risks BY JULIE NEITZEL Wealthy individuals always have been targets for vandals and thieves but the rise of the internet electronic tools and new technology options have provided new ways for criminals to operate generally in anonymous ways. Cyberattacks are becoming more pervasive. In 2015 the Internal Revenue Service reported thieves stole tax information from 100 000 households hackers raided eBay in a historic breach of 145 million records 52 000 New York taxis had data about passengers and their credit card information compromised Anthem health insurance was tapped for 80 million users personal information (health records credit card data etc.). More and more the family office team needs to focus on cybersecurity in its function as key risk manager for the family. Why should the family office be concerned about cyber intrusions While there are many reasons the key ones include theft privacy and maliciousness. Cyber theft occurs in many ways unauthorized bank account access credit card fraud unauthorized IRS personal information access private medical record access identity theft damaged reputation through social media hijacking loss of competitive business information and more. Privacy of family wealth can be threatened when cyber thieves extract details that can be used to harm family members the family business and or money. Maliciousness can result when hackers access data or websites to destroy deviate or redirect users to different websites. Every individual working in the family office and every family member should participate in regular training to increase their cyber awareness. Many private banks such as J.P. Morgan offer education for individuals and family groups. Younger generations tend to be higher technology users but they might not be aware of the risks posed by social media email credit cards and ATMs. Take inventory of devices that are vulnerable to hackers smartphones tablets and desktop and laptop computers. Also home pose risks. Even digitally connected vehicles can be susceptible. Consider too the access points that present risk. Wireless routers create opportunities for hackers to tap into home computer networks. Public Wi-Fi networks such as those found in airports hotels and coffee shops are laden with threats because cyber criminals can easily access passwords and personal information from unsuspecting users. Indeed passwords are always a point of risk to the security of email accounts online banking sites and other websites especially if they are written down and available for others to access. Family office staff should avoid using personal email accounts visiting certain websites and using unknown internet networks all present risks to family office technology. Family offices should consider the development of a cyber protection plan that includes the following A written cyber policy that defines how the family and staff will communicate on the internet with special attention paid to public Wi-Fi access private networks password policies social media use payment authorization and review processes. Assessment of encryption tools identity protection services data backup systems and network monitoring. Completing background checks regularly on employees and vendors or using firms that provide proof of a background check process. Starting the family office planning process with a vulnerability assessment will provide valuable insights into the highest risk areas and create a framework for the development of a cyber protection plan. Cyber risks are here to stay and will continue to evolve as criminal enterprises expand. Cyber crime is a highly specialized and technical field and it s best to retain a consultant to support the family office team. The best defense plan is to find the optimal balance of access and protection for family members the family office team the business itself and future generations. Miami and a board member of the Miami Finance Forum. Contact 100 NOVEMBER 2016 www.sfbwmag.com S P E C I A L M A R K E T I N G F E AT U R E FLORIDA ALTERNATIVE INVESTMENT ASSOCIATION HELPS GREATER MIAMI FLORIDA BUILD ECONOMIC FUTURE The evolution of the alternative investment industry in South Florida is giving portfolio managers and local economic development officials a set of fresh options for accessing capital investors and new business. The Greater Miami area continues to attract hedge funds and financial companies as the region matures as a permanent said Michael Corcelli founder of the Florida Alternative Investment Association (FLAIA) and Miami-based Alexander Alternative Capital. Taxes are low office space is decidedly cheaper than in New York and there is relatively easy access to wealthy retirees from the U.S. and from investors from Latin Over the last three years investment firms from New York Connecticut California and from overseas have either relocated to South Florida or established satellite offices in the region. Most recently dorMouse of Malta opened a Miami office. Other arrivals to South Florida within the last year include QuStrat Absolute Return Fund LP (Miami) Bayview Liquid Credit Strategies Domestic LP Coral Gables) Lampost Blue Chip Fund LP (Boca Raton) L.E.W. Capital Partners (Fort Lauderdale) North Rock Fund L.P. (Palm Beach Gardens) and TR Global Opportunity Fund LP (Boca Raton). Surveys show that South Florida is now home to an estimated 60 hedge funds 19 private equity firms and more than 200 family offices. Most of the arrivals occurred over the last three years accelerating in 2015. Recently FLAIA gave a presentation on the development of the Alternative Investment Industry in Florida to the Beacon Council the private-public partnership supporting economic development in Miami-Dade County. The panelists included attorney Nanette Aguirre a shareholder and derivatives specialist with Greenberg Traurig who is based in New York. She also sits on the FLAIA board of directors. South Florida is an attractive location for Wall Street participants seeking relief from the high costs of trading staffing and compliance particularly in the derivatives market Aguirre said in an interview. I joined Greenberg Traurig in part just under two years ago because of the firm s commitment She said that locating money management operations in South Florida makes sense for several reasons. In my practice I advise international banks hedge funds broker dealers and large financial institutions on securities financing derivative and similar transactions as well as counsel them on complying with Dodd Frank EMIR and related cross part of my business even during my days on Wall Street. South Florida is ideal because it is an international hub primarily for Latin America it is a tax friendly state the cost of living is much lower than New York and London and I can easily hop The FLAIA was formed in 2007 to help establish Florida as a leading international center for alternative investment management. Its long-term goal is to highlight Florida s impressive strengths that can assist the industry and to Now bolstered by more than 250 members statewide FLAIA conducts quarterly networking events and plays an active role in building bridges between Alternative Investment managers and large sources of capital providing insights to the private and public sector leaders about Private Equity Venture Capital and Hedge Fund strategies and helping state and local officials strengthen the competitiveness of Florida s strategic industry clusters. On November 29 FLAIA will present its annual Global Macro Perspective 2017 for Family Offices and Funds in Miami s Brickell Avenue Financial District. Panelists from around the country will discuss the prospects in the Energy Technology Cyber-Security and GeoPolitics among other topics. Our experience over the years is that during crises and recoveries managers who closely research macro-economic By closely aligning ourselves with proven players in risk management and trend assessment FLAIA is well-suited to help establish Florida as a leading center for private equity 1352. www.sfbwmag.com NOVEMBER 2016 101 WEALTH The Art of the Equity Deal BY KEVIN GALE Entrepreneurs and investment bankers talked about the challenges and triumphs of growing companies during a seminar presented by Bonaventure Equity in West Palm Beach. The speakers included a serial entrepreneur in the gas turbine space a product innovation company CEO from New York investment bankers from Boston and a company in Wellington Bonaventure Equity which is based in Jupiter also is an a division at kitchen products company Epoca and CEO of kitchenware maker Prepara. Even with those credentials he still had to deal with the plan Oh and what s the valuation of the company and valuation before the company had shipped any products. He put 2 million into the business and HSBC gave him a 500 000 loan but he had to put the same amount in a collateral account. disaster with an asset-based lender. He expected an 11 percent cost of capital but it went to 30 percent. direct investment strategies and processes sourcing of new opportunities due diligence analysis management and operations. The first speaker was StoreBound CEO Evan Dash whose products can be found in major retailers such as Macy s Target Wal-Mart and Kohl s as well as TV shopping channels QVC and HSN. The New York-based company which helps bring inventors ideas to market expects to hit 30 million in sales this year Dash says. Dash had a lot of experience when he started the company in 2010. He previously was general merchandise manager at Linens n Things senior VP at Macy s president of 102 NOVEMBER 2016 www.sfbwmag.com WEALTH Fortunately for Dash a factor he knew from his days at Macy s agreed to do business. He says he could get bank O Brien the CEO of Bonaventure Equity about a relationship to keep 100 percent equity in his company. The last entrepreneurial speaker Bob Kraft is CEO of Powerphase a Jupiter company that makes gas turbines. Kraft is an engineer by background and previously worked on military gas turbine engines at Pratt & Whitney. Before Powerphase he co-founded Power Systems Manufacturing of Boca Raton which was sold to Calpine Corp. for 34 million in 2000 according to a news release. Kraft stayed with the company and it was sold by Calpine to Alstom for 242 million. Kraft left Power Systems in 2010 and launched Powerphase in 2012. system for gas turbines he says. That enables turbines to put out 10 percent more power and can help utilities generate more power during periods of peak demand. The company has 80 patents and it ships the 2 million devices in 40-foot shipping containers. The company has gone from two potential customers to more than 300. Powerphase has raised 12 million and O Brien played a key role Kraft says. and expertise which is where speakers Michael Swackhamer and Gary Furst of Generation Equity Capital of Boston came in. The company s strategy is to make a story go from good to great and bring value with management expertise. Furst talked about his experience with Kryptonite which was originally known for bicycle locks. As CEO he helped broaden the product line and it went from losing money to being acquired by Ingersoll Rand a public company. Among Generation Equity s current investments is Sherrill a provider of specialty products for those who take care of trees. Instead of relying on a once-a-year catalog the company has a thriving website. Furst also suggested the company establish instead of just selling products made by other companies. To end the event O Brien took the stage with Jarrett Bostwick a principal with National Financial Companies in Wellington. The merchant banking company draws funding for NFC s strategy is to look at markets that have barriers to entry but no dominant player. The company s portfolio includes Vista Springs assistedliving centers Wells Pharmacy Network Bulova Technologies Group Bulova Technologies Machinery and Craigmore Want an Eiffel Tower pancake StoreBound makes a pancake printer. Creations which publishes graphic novels and children s books. but need help with the entrepreneurial aspects of the business Bostwick says. operations to help support the entrepreneurial companies in offers for the portfolio companies. That allows for the operating company to have some rocket get to focus on revenue. When revenue hits an appropriate level permanent staffers can be brought in for positions such as CFO. One example of a successful investment involved the husband and wife team of Ted and Kathee Kramm who had expertise with intravenous immunoglobulin infusion (IVIG). They thought there were new uses to help deliver medicine via IVIG. Their company Axela Care was capitalized with 250 000 of capital and just under 2 million in debt Bostwick says. In 18 months the company had 77 million in revenue and EBIDTA (earnings before interest taxes depreciation and amortization) was just over 9 million. NFC sold 40 percent of its stake at the 24-month mark as part of an overall sale of the health care company. A larger private-equity company added more acquisitions to the health care company. At the two-year mark the company was sold again for 225 million after it had grown to 121 million in revenue and just under 25 million in EBIDTA-- The company kept growing even after that and was later sold for 1.1 billion to United Healthcare. www.sfbwmag.com NOVEMBER 2016 103 WEALTH How Much Life Insurance Do I Need for Estate Planning BY HOWARD KAYE Rick the owner of a successful public relations firm was concerned about passing on the result of his lifetime of hard work to succeeding generations. Now that his kids were having kids it was becoming even more important to him that they could enjoy the fruits of his labor. As he approached his 70th birthday Rick s financial concerns revolved around preserving his wealth and minimizing estate tax exposure to leave as much as possible to his heirs. Maxing out his retirement accounts each year wasn t doing enough. His high tax bracket also was reducing the value of many of his other investing strategies leaving him unsure about where to put his cash. What Rick needed to do was take a deeper look into life insurance. People who see life insurance as just a safety net for others in the case of personal tragedy often miss out on the tax benefits of the right policy. Rethinking a life insurance strategy can help your loved ones keep what is rightfully theirs by providing several benefits Income replacement This is the most traditional use of life insurance. If you haven t put together a proper nest egg and were to die unexpectedly life insurance can replace your income and provide money to pay for large expenses such as mortgages college educations and retirement. Estate tax liquidity If you already have enough money to make your family financially independent life insurance can be used to pay any estate taxes due when you and your spouse die. Not only can life insurance create cash to pay for estate taxes it can also create the necessary liquidity when family wealth is tied up in illiquid assets such as real estate or a business. Leveraging your estate Life insurance dramatically can increase the amount of money you leave to your heirs by creating a tax-free rate of return often far in excess of traditional investments. This is especially true for clients with large IRAs annuities and 401(k)s. Life policies that leverage these vehicles are often purchased inside of trusts. (This is a complex topic that you should discuss with an adviser.) HOW MUCH DO I NEED When it comes to income replacement there are several ways to come up with a number. One method is estimating your future expenses. Say your family has 200 000 in annual expenses. If you re 50 years old and want to cover 15 years of future expenses you might consider buying a 3.5 million policy. That s 15 years multiplied by 200 000 plus an extra 500 000 cushion for rising expenses. You don t want to buy too little and have your family run out of money. In the case of estate tax liquidity you can try to estimate your estate tax exposure and buy a policy that will cover the anticipated tax bill. For example if you had 10 million in assets at the time of your death but could pass along only 5 million tax-free you would need a 2 million policy to cover the tax due on the other 5 million of assets which would be taxed at a rate of 40 percent. While that calculation may seem reasonably simple there are some moving parts involved such as constantly changing estate tax rules and the fluctuating value of your estate which might include stocks bonds real estate and other asset classes. In the case of leveraging your estate you might actually back What does that mean If you are 60 and can dedicate 60 000 to your policy each year for the rest of your life that might ultimately buy you a 4 million policy based on your health class the insurer you choose and a few other factors. That 4 million would pass tax-free to your heirs creating a solid legacy while only costing you 1 million to 2 million in premium payments perhaps even less. howardkayeinsurance.com. 104 NOVEMBER 2016 www.sfbwmag.com www.sfbwmag.com NOVEMBER 2016 105 EXTRAORDINARY. TO THE ENDS OF THE EARTH AND BACK. The best premium cruise line now offers corporate events in paradise all year long. Let Celebrity Cruises indulge your guests on our award-winning ships visiting more than 275 destinations across all seven continents. Network build loyalty and reward your top performers in modern luxuy style. 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