Notes

How can wealth management firms prepare for turbulent times [Farnoush Farsiar]
Generational changes. Global mobility. Farnoush Farsiar Technology innovation. Farnoush Farsiar from EU Today discusses the major changes that impact family offices and fundamentally threatening operating structures and practices.

https://www.thegazette.co.uk/company/10947406 Family offices cater to more mobile, tech-savvy and younger generations. The financial crisis and democratisation of trading using internet-based tools has brought all customers, regardless of age at all, more involved in their own investments which means they are looking to gain more knowledge and more involvement and have lost the desire to have discretionary portfolios, which are managed with arm's length.

These changes happen in a period of extreme economic and political instability. Offices that try to keep their old methods will soon find they are abandoned by those they were founded to assist. Instead, they should adapt and adopt a more entrepreneurial approach to investment management to develop the best worth proposition for UHNWIs.

Although the size and scope of family offices are varied, it is important that they focus on flexibility and streamlining over being experts in every aspect. Customers will appreciate a lower number of advisors who are adept at quickly implementing new technologies and calling in specialists as needed. https://www.europeanbusinessreview.com/farnoush-farsiar-the-impact-of-the-metaverse-on-finance/ As the boundaries between family and private banking have been blurred the most successful firms will have a smaller group of advisors who can quickly adopt new technologies and work with external experts when needed. This will allow the firm to offer the best service to customers.

Your success is contingent upon your capability to tap into traditional or network-based sources of deal source. Additionally, you can use online methods and tools to discover opportunities or deals. Private offices and wealth managers with a flexible staff can set up online deal sources platforms. This is in contrast with cumbersome banks that are in bureaucracy. Dealmakers can utilize these platforms to review and access a range of deals, resulting in substantial savings of time and money.

Farnoush Farsiar Wealthica and other dashboard services such as Wealthica are also changing how family offices communicate directly with their customers. These dashboards consolidate investments automatically from multiple sources and bring clients into daily communications with their investments. This is an enormous improvement over the previous system of wealth managers only providing periodic updates on the status of their clients' money.

Of course, these tools are just tools - the methods by which wealth managers can enhance their efficiency and speed at the way they work. The primary factor is the investment strategy they employ. The key to success is combining the traditional with the new. It is likely that you are likely to continue looking for deals in real property, and also explore investments that aren't explored before like food security or climate science. Impact investing has certainly "arrived" within the family office industry. According to the UBS Global Family Office Report 2018 one-third of family-owned businesses are involved in impact investment and the majority of them are planning to grow the amount of involvement they have in the coming years. There are certain problems with this field, including difficulties in measuring impact or performing due diligence. However, the next generation UHNWIs and HNWIs will expect family offices to be able to locate and secure these types of investments. Plato Capital, my own boutique investment bank, is based on the experiences of its founders from large banks and in the technology industry to offer investment guidance that is entrepreneurial in focus. Our personal knowledge of the local area and connections allow our clients to manage risk and make optimal return on their capital.

https://londonlovesbusiness.com/farnoush-farsiar-on-the-legacy-of-queen-elizabeth-ii-for-women-in-leadership/ Blending the old with the new, while adjusting to the changing needs of the young generation, and being prepared to risk their own methods and structures Wealth managers of all kinds are able to remain relevant and thrive in turbulent times. https://www.cbetta.com/director/farnoush-farsiar-aidi-2
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