Notes

How can wealth management companies be ready for turbulent times? [Farnoush Farsiar]
Generational change. Farnoush Farsiar Global mobility. https://getbritainout.org/johnson-and-javid-are-only-part-of-the-brexit-recipe-for-the-citys-success/ Technology-driven change. These are just a few of the key changes impacting family offices, and that are fundamentally changing their operating structure and methods, writes Farnoush Farsiar for EU Today.

Increasingly, family offices cater to the young, more tech-savvy and mobile generation. Farnoush Farsiar In the wake of the financial recession, clients are increasingly interested and involved in their investments.

The changes are happening in a period of an unprecedented level of economic and political turmoil. These changes also signal the end to the fee-based family offices model. Offices that try to keep their traditional methods may be relegated to the very individuals they were founded to assist. Farnoush Farsiar Instead, they must adjust and adopt a more creative approach to investment management and create a true worth proposition for UHNWIs.

While family offices can differ in terms of size and size, they should focus on agility over the desire to be experts in all fields. A smaller team of advisors who are able to quickly implement new technologies and bring on board external experts when needed can ultimately offer a more valuable service to clients. As the boundaries between family and private banking have been blurred, the best firms will have a smaller team of advisors who can quickly implement new technology and bring on board external specialists when required. https://www.heritage.org/testimony/transatlantic-policy-impacts-the-us-eu-trade-conflict This will allow the firm to offer a more valuable service to their clients.

Your success is contingent upon your capability to tap into traditional networks, reputation-based, and network-based sources of deal sources. It is also possible to make use of online tools and methods to find deals or opportunities. Wealth managers and private offices that can manage large numbers of deals online are superior to banks with a cumbersome structure. Dealmakers can make use of these platforms to quickly browse and evaluate a variety of deals, which results in substantial savings of time and resources.

Another online service that is altering the way family offices communicate with their clients is Wealthica. This dashboard service automatically consolidates investments from multiple sources and brings clients into daily contact. It's a vast improvement back to the days when wealth managers only provided periodic updates on the progress of the clients' investments.

These tools are only that, they're the means that wealth managers can improve their efficiency and speed. The most important factor is their investment strategy. The benefit will be combining traditional and new strategies. Continue to seek for opportunities in the field of real estate as well as investing in areas that were previously unexplored, such as the effects of climate change and food security. The UBS Global Family Office Report 2018 showed that impact investing has become an increasingly popular topic within family offices. Farnoush Farsiar A third of family offices participate in the type of investing that they are involved in and many anticipate getting involved more in the coming years. Although there are many challenges in this field including the measurement of the impact of investments and conducting due diligence, the future generation of HNWIs/UHNWIs will want their family offices to find and secure these kinds of investments. My company, Plato Capital, is a small investment bank that is based on the expertise of its founders, in family offices, banks, and the tech industry, to offer investment advice with a particular attention to the entrepreneurial. Our clients are able to achieve maximum returns and reduce the risk through our personal network.

Farnoush Farsiar All types of wealth managers can continue to thrive even in difficult times when they blend the old and modern and are willing to adjust to new demands and take risks with their own structure. https://richpeopletrades.com/2022/07/17/top-10-banking-trends-by-financial-expert-farnoush-farsiar/
Here's my website: https://twitter.com/BrexitCentral/status/1152601570447646720