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How can wealth management firms be prepared for turbulent times? [Farnoush Farsiar]
Generational change. Farnoush Farsiar Global mobility. Technology revolution. Farnoush Farsiar Farnoush Farsiar from EU Today discusses the major changes that affect family offices and are fundamentally challenging the working structures and practices.

Farnoush Farsiar Family offices are catering more and more to the mobile, younger generation. The financial crisis and democratisation of trading using online tools have brought all customers, regardless of age and interests, more interested in their own investment portfolios which means they are looking to be more informed and more involvement as well as losing the traditional appetite for discretionary portfolios that are managed by an arm's length.

These changes, which come at a time of unparalleled economic and political turmoil will bring the end of the traditional fee-based family office model. If the offices attempt to maintain their current strategies and methods, they could realize that the people they were created to help will leave them. They must be agile and creative in managing investments in order to offer UHNWIs with a value proposition.

Family offices vary greatly in terms of dimensions and scope, but regardless of that, they must focus on agility and improving their services, rather than trying to be experts in all things. Customers would appreciate a smaller staff of advisors that can quickly implementing new technologies and also hiring external experts whenever needed. https://store.nwbbc.com/activity/p/22473/ https://www.asian-tapas.com/farnoush-farsiar-talks-about-the-difficulties-faced-by-women-leadership/ As the boundaries between private and family banking are blurring the most successful firms will have a smaller group of advisors who are able to quickly adopt new technologies and bring on board external experts when needed. This allows them to provide a more valuable service to customers.

Your success is contingent upon your capability to tap into traditional networks, reputation-based, and network-based sources of deal sources. You can also utilize online methods and tools to find deals or opportunities. Deal sourcing platforms online are just one of the tools which wealth managers and agile private offices can readily install as opposed to large heavy-handed banks that are mired in large-firm bureaucracy. Dealmakers can utilize these platforms to quickly access and assess a variety of deals, which results in significant savings in time and resources.

Farnoush Farsiar Wealthica and other services on the internet have also changed the way family offices interact with clients. They consolidate the investments of a variety of sources, and put clients in regular contact with their investment. It's a contrast to the past when wealth managers would only give periodic updates on their clients' investments.

Farnoush Farsiar These tools are able to assist wealth managers in improving their efficiency and speed. Their investments strategy is what matters the most. The advantage will come from bringing together the old and the innovative - continuing to seek for deals in real estate while also considering investments in previously unexplored fields, such as food security or climate science. The UBS Global Family Office Report 2018 found that impact investing is now a mainstream topic in family offices. One third of these family offices are involved in this kind of investment and many expect to get involved more in the coming years. There are certain problems with this field, including issues with measuring impact or performing due diligence. Farnoush Farsiar However, the next generation UHNWIs and HNWIs are likely to expect a family office to be able identify and secure these investments. Plato Capital, my own boutique investment bank, is based on the experiences of its founders, who are from large banks and the technology industry to provide investment advice that is entrepreneurial the focus. Our local experience and connections allow us to assist our clients control risk while maximising their capital returns.

Through blending the traditional with the modern, adjusting to the needs of the new generation and being prepared to be risk-averse with their own structures and techniques, wealth managers of all kinds can stay relevant and prosper during difficult times.
My Website: https://www.asian-tapas.com/farnoush-farsiar-talks-about-the-difficulties-faced-by-women-leadership/