Notes

How can wealth management firms be prepared for turbulent times? [Farnoush Farsiar]
Generational changes. Global mobility. Farnoush Farsiar Technology transformation. Farnoush Farsiar from EU Today discusses the major changes that impact family offices and are fundamentally threatening operating structures and practices.

Family offices are catering to an increasing number of young, mobile and tech-savvy generations. The economic crisis and the democratisation of trading through internet-based tools has brought all customers, regardless of age and interests, more interested in their investments, meaning they want to gain more knowledge and more involvement, and have lost the traditional appetite for discretionary portfolios, which are managed with distance.

Farnoush Farsiar The changes are occurring in a critical time of the economic and political turmoil. If family offices keep their current practices and methods, they could realize that the individuals they were created to advise will abandon them. They will need to adjust to a more entrepreneurial approach in the field of investment management, to provide UHNWIs the best value.

Family offices are available in all sizes and styles. However, they must prioritize efficiency and speed and improving the efficiency of their services. Customers will appreciate a smaller group of advisors that can quickly implementing new technologies as well as the hiring of external experts when required. This has led to the blurring of lines between family and private banking offices. Successful firms will continue to maintain the loyalty of family offices and the level of trust they enjoy while being ahead of the curve in sourcing deals and adopting new technology.

It is important to be able to use the old-fashioned, network-based, and reputation-based methods for deal sourcing. Online tools can also be used to identify deals and opportunities. Deal sourcing platforms online are only one of the tools that wealth managers and agile private offices can easily install instead of large cumbersome banks, who are ensnared in bureaucratic red tape. https://twitter.com/BrexitCentral/status/1140499332128530432 Dealmakers have access to and can evaluate large numbers of deals simultaneously this is a huge time and resource saving.

Wealthica is another online service which has changed the way a family offices communicate with clients. Wealthica's dashboards will automatically combine investments from different sources. https://blackcowriefinance.com/2020/12/21/financial-services-will-enjoy-a-brexit-boom-if-the-regulators-let-us-take-advantage-of-the-opportunities-it-presents/ Clients can keep in touch with their investment portfolios. This is a lot better than the days when wealth management provided only periodic updates about the condition and status of the money they had earned for their clients.

They are just thatthey enable wealth managers to boost their efficiency and speed. The primary factor is their investment strategy. It is important to combine the old and the new. For example, continue to search for real estate opportunities and also look into investment opportunities in emerging areas such as climate science or food security. https://trungtamytehoavang.com.vn/question/farnoush-farsiar-discusses-how-women-business-leaders-face-the-challenges-3/ Impact investing is definitely 'at last in the world of family offices - according to the UBS Global Family Office Report 2018 revealed that a third of family offices are active in impact investing, and many expect to become more active in the near future. While there are some challenges regarding the field like difficulties in quantifying impact and due diligence, HNWIs/UHNWIs in the future will expect family officers to have the ability to identify these investment opportunities. Plato Capital is a boutique bank that provides investment advice. https://www.anochords.org/farnoush-farsiar-discusses-the-challenges-female-business-leaders-face/ It draws on the experience of its founders in big banks, family offices as well as the tech industry to offer entrepreneurial investment guidance. Our local experience and network allows us to assist our clients successfully reduce risk while increasing the capital return.

Wealth managers of any age can thrive in turbulent times by mixing old and newideas, quickly adapting to the changing demands, and being willing to take chances with their own systems.
Website: https://www.talk-business.co.uk/2022/06/21/fanoush-farsiar-on-the-importance-of-gender-lens-investing/