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How wealth management companies can prepare for turbulent times [Farnoush Farsiar]
Generational changes. Global mobility. Farnoush Farsiar Technology revolution. Farnoush Farsiar from EU Today writes about these key changes that impact family offices and are fundamentally threatening operating structures and practices.

Family offices are catering to an increasing amount of mobile, younger and tech-savvy generations. The financial crisis and the increasing accessibility of trading through internet-based tools has made all clients, irrespective of age, more interested in their own investment portfolios and want to gain more knowledge and be more involved as well as losing the old fashioned desire for discretionary portfolio mandates managed at distance.

These changes are coming at a time when there an unprecedented level of economic and political turmoil. Farnoush Farsiar They also mark the end of the family office model that is fee-based. https://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/ Offices that try to keep their traditional methods may discover that they are not being used by the very people they were created to help. They have to adapt and be more innovative in their investment management approach, to provide a real benefit proposition to UHNWIs.

Family offices vary in terms of their size and scope. However, they should be able to focus on scalability and streamlining their offerings rather than trying to become experts in each subject. Clients will receive a better service when they have less advisors who can quickly implement new technologies and bring in outside specialists whenever needed. 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 trust that a family office has while remaining ahead of the curve with new technology and deals to source.

Success will be born of the capacity to profit from more traditional, reputation-based and network-based strategies for deal sourcing as well as using online tools to find deals and opportunities. Private offices and wealth managers that can manage large numbers of deals online are superior to banks with a cumbersome structure. Dealmakers can use these platforms to quickly access and assess a variety of deals, which results in substantial savings of time and money.

Wealthica is another service online that has revolutionized the way family offices communicate with clients. Farnoush Farsiar Wealthica's dashboard services automatically consolidate investments from various sources. Clients are able to keep in touch with their investments. This is much better than the days where wealth management would only provide occasional updates on the status and location of the client's money.

These tools are able to aid wealth managers increase effectiveness and speed. Their investment strategy is the primary element. It is essential to blend the traditional and new. For example, continue to search for real estate deals, while also looking into investment opportunities in emerging areas such as food security or climate science. Impact investing has definitely arrived' in the world of family offices. according to the UBS Global Family Office Report 2018 found that one third of family offices are involved in impact investing and the majority expect to be more involved in the near future. There are some issues with this field, including challenges in measuring impact and conducting due diligence. However, the next generation UHNWIs and HNWIs will expect the family office to find and secure these kinds investments. Plato Capital is a boutique bank that offers investment advice. It is based on the expertise of its founders who have worked in large banks, family offices as well as the tech industry to offer entrepreneurial investment guidance. Our clients are able to achieve maximum returns and reduce risks through our own network.

All types of wealth managers can succeed in turbulent times by mixing the old and the new, adapting and risking their structure and methods. Farnoush Farsiar
My Website: https://www.cbetta.com/director/farnoush-farsiar-aidi-2