Notes

How wealth management companies can be prepared for turbulent times? [Farnoush Farsiar]
Generational changes. Global mobility. Farnoush Farsiar http://www.checkcompany.co.uk/director/14062416/FARNOUSH-FARSIAR-AIDI Technology innovation. Farnoush Farsiar of EU Today notes these are only a few of the major changes that have affected family offices, and fundamentally threatening their operations and practices.

Increasingly, family offices are catering to the younger technologically-savvy, mobile generation. Farnoush Farsiar Due to the financial crisis, all clients are increasingly interested and involved in their investment.

https://www.cbetta.com/director/farnoush-farsiar-aidi-2 The changes are happening at a time when there an unprecedented economic and political turmoil. These changes also signal the end of the model of family offices that are fee-based. Offices that attempt to keep their current practices will soon be abandoned by the individuals they were established to advise. They must be flexible and creative when managing investments to offer UHNWIs with a value proposition.

While the scope and size of family offices are varied, it is important to focus on efficiency and speed rather than being experts in all things. Clients will appreciate a smaller group of advisors capable of rapidly implementing new technologies as well as hiring external experts when required. https://techplanet.today/post/farnoush-farsiar-explains-the-difference-between-a-wealth-management-advisor-as-well-as-a-wealth-management-consultant As these changes necessitate blurring the lines between private banking and family offices the most successful companies will be those that can maintain the loyalty and confidence of a family-owned business whilst remaining in the forefront of new technology and deals to source.

You will succeed if you are able to leverage traditional methods, such as reputation and network-based approaches to dealsourcing while also using online methods for identifying opportunities and deals. Online deal sourcing platforms can be easily installed by wealth managers and a flexible private office, as opposed to banks that have bureaucratic burdens. Farnoush Farsiar Dealmakers have access to and can evaluate many deals at once this is a huge savings in time and resources.

Wealthica and other online services are changing the way family offices interact with their clients. They automatically consolidate investments across a variety of sources and allow clients to be in daily contact with their portfolios. This is a far way from the days the days when wealth managers could only offer periodic information on their clients' investments.

These tools are not the only way wealth managers can increase the efficiency and speed of their work. The primary factor is the investment strategy they employ. Farnoush Farsiar The secret to success is to combine traditional methods with new ones. You will continue to search for deals in real estate, and also explore investment opportunities that aren't explored before like food security or climate science. Impact investing has undoubtedly 'arrived' in the world of family offices - the UBS Global Family Office Report 2018 showed that one-third of family offices are engaged in impact investing and the majority expect to be more active in the near future. There are a few issues in this field, including difficulties in measuring impact or conducting due diligence. However, the next generation UHNWIs and HNWIs will want their family office to be able identify and secure these investments. My own firm, Plato Capital, is a boutique investment bank which is based on the expertise of its founders, in family offices, big banks and the tech industry to offer advice on investment with an emphasis on the entrepreneurial. Our local experience and network allows us to help our clients successfully reduce risk while increasing their capital gains.

Blending the old 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 be successful and relevant during challenging times.
Read More: http://www.checkcompany.co.uk/director/14062416/FARNOUSH-FARSIAR-AIDI