Notes

How can wealth management companies be prepared for turbulent times? [Farnoush Farsiar]
Generational changes Global mobility. Technological innovation. Farnoush Farsiar, EU Today writes that these are only one of the many major changes that have affected family offices, and in the end threatened their structures and methods.

Farnoush Farsiar Family offices cater to technologically advanced, mobile and younger generations. Every client, no matter their age, have become concerned, regardless of financial situation in managing their personal investment portfolios. This means they are looking for more involvement and information, not just the services of a portfolio manager.

These changes are coming in a period of an unprecedented level of economic and political instability. They also mark the end of the model of family offices that are fee-based. Offices that attempt to continue their old methods will soon discover that they are not being used by the very individuals they were established to advise. They should adapt to be more entrepreneurial and develop the value offering for UHNWIs.

While family offices can differ in size and scope, they should prioritize agility over trying to be an expert in every area. Farnoush Farsiar A smaller team of advisors that can swiftly introduce the latest technologies and bring on board external experts when needed will provide an improved service for clients. Farnoush Farsiar As the boundaries between family and private banking are blurred the most successful firms will have a smaller group of advisors that can swiftly adopt new technologies and work with external experts when needed. This will allow them to provide an enhanced service to their clients.

The success will come from the capacity to profit from more traditional, reputation-based and network-based strategies for deal sourcing while also employing online strategies to find deals and opportunities. Wealth managers and private offices with a flexible staff can set up online deal sources platforms. It is in stark contrast to the cumbersome banks, which are ensconced within bureaucracy. These platforms make it possible for dealmakers to review multiple deals simultaneously and save considerable time and effort.

Wealthica and other dashboard services such as Wealthica are also revolutionizing the way family offices interact directly with their customers. These dashboards consolidate investments in a way that is automated from multiple sources, and put clients in daily communication with their investments. This is an enormous improvement over the previous system of wealth managers providing only intermittent information on the state of their clients' funds.

Of course, these tools are just that - the means by which wealth managers can improve the speed and efficiency with that they function. The way they invest matters the most. The best strategy will combine both the old and new. This means that you should continue looking for deals on real estate but you can also consider investing in sectors like food security or climate science. https://blogfreely.net/farnoush-farsiar4cffdd33/farnoush-farsiar-why-are-the-women-in-finance-so-infrequent 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 with this type of investing and many expect to get involved more in the coming years. There are a few issues with the field such as the difficulty of measuring impact as well as due diligence HNWIs/UHNWIs in the future will expect family members to be able to find these investments. Plato Capital, which I founded in 2004, is an investment banking institution which focuses on entrepreneurs. Our clients can make maximum returns and manage risk with our personal network.

Through blending the traditional with the new, while adjusting to the needs of the new generation and being prepared to take risks with their own strategies and structures, wealth managers of all kinds can stay relevant and prosper even in the midst of turbulent times. Farnoush Farsiar
Website: https://blogfreely.net/farnoush-farsiar4cffdd33/farnoush-farsiar-why-are-the-women-in-finance-so-infrequent