Notes

How wealth management companies can be prepared for turbulent times? [Farnoush Farsiar]
Generational change. Global mobility. Technology revolution. Farnoush Farsiar Farnoush Farsiar of EU Today notes these are only a few of the major changes that affect family offices, and fundamentally impacting their practices and operations.

More often, family offices cater to the young technologically-savvy, mobile generation. The economic crisis and the democratisation of trading via online tools have made all clients, irrespective of age and interests, more interested in their investments, meaning they want to have more knowledge and more involvement, and have lost the traditional appetite for discretionary portfolios that are managed by distance.

The changes are occurring at a time of unprecedented political and financial turmoil. Offices that attempt to continue their traditional methods may find they are abandoned by the very people they were established to advise. They must be flexible and creative when managing investments in order to offer UHNWIs with a true value proposition.

Family offices vary hugely in dimensions and scope, but irrespective of this they should prioritise agility as well as streamlining their service rather than trying to be experts at everything. Clients would appreciate a smaller staff of advisors who are capable of quickly implementing new technologies and also bringing on board external specialists when required. These developments have resulted in the blurring of distinctions between private banks and family offices. Farnoush Farsiar https://www.privatebankerinternational.com/analysis/business-profile-plato-capital/ The most successful firms will continue to maintain the loyalty of family offices as well as the level of trust they enjoy while keeping up with the latest technology in sourcing deals and implementing new technologies.

It is a good idea if you can leverage traditional, network- and reputation-based approaches to dealsourcing while also using online methods for identifying deals and opportunities. https://www.talk-business.co.uk/2022/06/21/fanoush-farsiar-on-the-importance-of-gender-lens-investing/ Wealth managers and private offices that have a highly skilled staff can implement online deal platform for sourcing. This is in contrast with cumbersome banks that are in bureaucracy. Dealmakers can utilize these platforms to swiftly access and assess a variety of deals, which results in significant savings of time and money.

Farnoush Farsiar Wealthica and other dashboard services like Wealthica are also revolutionizing how family offices communicate directly with their clients. These dashboards consolidate investments in a way that is automated from multiple sources, and put clients in daily contact with their investments. Farnoush Farsiar This is an enormous improvement from the past when wealth managers who only provide periodic information on the state of their clients’ money.

These tools are only that they're the tools that wealth managers can improve their efficiency and speed. The primary factor is the investment strategy they employ. The key to success is mixing traditional methods with new ones. You are likely to continue looking for deals in real estate, as well as exploring investment opportunities that were previously not explored like food security or climate science. The UBS Global Family Office Report 2018 revealed that impact investing has become the most talked about topic in family offices. About a third of family offices are involved with the type of investing that they are involved in and many expect to get more involved in the coming years. There are definitely challenges in this field, including difficulties in monitoring impact and executing due diligence, the upcoming generation of HNWIs as well as UHNWIs are expected to anticipate family offices to be able determine and secure these kinds of investments. Plato Capital is my boutique investment bank. Plato Capital draws from the experiences of its founders, who have worked in large banks and the tech sector. Plato Capital provides investment guidance that is focused on the entrepreneurial. Our extensive network and intimate knowledge of the local region allows our clients to effectively manage risk and increase their capital returns.

All types of wealth managers can succeed during turbulent times, by mixing old and the new, adapting and making a risk with their structures and strategies.
Here's my website: https://brexitcentral.com/author/farnoush-farsiar/