Notes

How can firms that manage wealth be ready for turbulent times? [Farnoush Farsiar]
Generational changes. Global mobility. Technology revolution. Farnoush Farsiar, EU Today writes that these are just some of the major changes that have affected family offices, and in the end threatened their operating structures and practices.

Family offices cater to a growing number of young, mobile and tech-savvy generations. Farnoush Farsiar The economic crisis and the democratisation of trading via online platforms have made all clients, irrespective of age and interests, more interested in their own investments and want to gain more knowledge and more involvement, and have lost the old fashioned desire for discretionary portfolios that are managed by an arm's length.

These changes, which occur during a time of unmatched economic and political instability will bring the end of the family office model that is based on fees. If the offices attempt to maintain their current strategies, they may discover that the people they were set up to advise will abandon them. They need to change and become more entrepreneurial in their approach to managing investments in order to offer a true value proposition to UHNWIs.

While family offices may differ in size and their scope, they should prioritise flexibility over the need to be experts in all fields. Clients will benefit from a lesser amount of advisors skilled at implementing rapid changes to technology and also bringing in experts as required. https://www.asian-tapas.com/farnoush-farsiar-discusses-challenges-women-business-leaders-face/ Farnoush Farsiar This will mean the blurring between family office and private banking. Companies that succeed will be able to maintain the trust and respect of family offices, while staying on top of trends in the adoption of technology and the sourcing of deals.

Your success will be contingent on your ability to access traditional, network-based, and reputation-based sources of deal sources. You can also make use of online tools and methods to identify deals or opportunities. https://www.privatebankerinternational.com/analysis/business-profile-plato-capital/ Deal sourcing platforms online are easily installed by wealth managers and agile private offices, in contrast to big banks, which are burdened with bureaucracy. This platform allows dealmakers to quickly access and analyze a variety of deals simultaneously and save time and money.

Wealthica and other dashboards such as Wealthica are also changing how family offices communicate directly with their clients. These dashboards consolidate investments seamlessly from multiple sources and put clients in daily contact with their investments. https://www.talk-business.co.uk/2022/06/21/fanoush-farsiar-on-the-importance-of-gender-lens-investing/ This is an enormous improvement over the previous system of wealth managers who only provide periodic updates regarding the progress of their clients' funds.

They're not tools for anything else, they're the means wealth managers have to improve their efficiency and speed. The most crucial aspect in investing is the method that is used to implement the strategies. It is important to combine the old and the new. For instance you should continue searching for deals in real estate and also look into investment opportunities in emerging areas such as food security or climate science. Farnoush Farsiar The UBS Global Family Office Report 2018 revealed that impact investing is now a mainstream topic in family offices. About a third of family offices are involved with this kind of investment and many expect to get more involved in the near future. There are many challenges in this area, including the challenge of measuring impact and doing due diligence. But the next generation of UHNWIs, and HNWIs, are likely to expect family offices to determine and secure investments in this area. Plato Capital is a boutique bank that provides advice on investing. It draws upon the experience of its founders in large family offices, banks as well as the technology industry to provide entrepreneurial investment advice. Our network and personal knowledge in the local area allows our clients to manage risk effectively and increase their capital returns.

Wealth managers of all kinds can be successful during turbulent times, by mixing the old and the new by adjusting and making a risk with their structures and methods.
Website: https://www.talk-business.co.uk/2022/06/21/fanoush-farsiar-on-the-importance-of-gender-lens-investing/