Notes

How can wealth management firms prepare for turbulent times [Farnoush Farsiar]
Generational change. Farnoush Farsiar Global mobility. Technology innovation. Farnoush Farsiar, EU Today writes that these are just one of the many major developments that have affected family offices and fundamentally impacted their operational structures and methods.

Farnoush Farsiar Increasingly, family offices are catering to the younger technologically-savvy, mobile generation. Every client, no matter their age, are more attracted to investing via trading online. This has resulted in a greater interest in personal investments. Farnoush Farsiar The clients do not want to be left out of the decision-making process for discretionary portfolio requirements.

Farnoush Farsiar These changes occur during a time of severe economic and political instability. If they try to keep the old ways in place, they'll soon be rejected by the people they were created to advise. They must change and be more innovative with their approach to investment management, to provide a real value proposition for UHNWIs.

Although the size and scope of family offices is different, it's important that they prioritize efficiency and speed rather than being experts in everything. A smaller group of advisors who can quickly implement the latest technology and add external experts when needed will provide an improved service for clients. This has led to the blurring of lines between family and private banking offices. The most successful firms will continue to maintain the loyalty of family offices as well as the level of trust they receive while keeping up with the latest technology in sourcing deals and adopting new technologies.

Success will be born of an ability to capitalise on more traditional, reputation-based and network-based strategies for deal sourcing as well as using online tools to identify deals and opportunities. Private offices and wealth managers that have a highly skilled staff can implement online deal sources platforms. It is in stark contrast to cumbersome banks, which are ensconced within bureaucracy. Dealmakers are able to access and analyze many deals at once and this can be a substantial time and money saving.

Wealthica and other services on the internet are changing the way family offices interact with their clients. They consolidate the investments of a variety of sources and allow clients to be in daily contact with the portfolios. https://www.reddit.com/r/ukpolitics/comments/cepfsc/the_doommongers_are_wrong_after_brexit_london/ It's a way from the days the days when wealth managers could only provide intermittent information on their clients' progress.

These tools do exactly tools that allow wealth managers to improve their effectiveness and speed. https://techplanet.today/post/farnoush-farsiar-claims-brexit-helped-the-uk-financial-markets-despite-dire-predictions Their investment strategy is the primary aspect. The benefit will be combining traditional and new strategies - continue to search for deals in the real estate market as well as investing in areas that were previously unexplored for example, food security or climate change. Impact investing is definitely 'at last in the world of family offices - the UBS Global Family Office Report 2018 showed that one-third of family offices are involved in impact investing and the majority expect to be more active in the near-future. Although there are certainly issues with this particular field, for instance difficulties in monitoring impact and executing due diligence, the coming generation of HNWIs and UHNWIs are expected to expect family offices to be able to find and secure these types of investments. Plato Capital is a boutique bank that provides investment advice. It is based on the knowledge of its founders in large family offices, banks as well as the technology industry to provide entrepreneurial investment guidance. https://www.crunchbase.com/person/farnoush-farsiar Our local experience and connections allow us to help our clients manage risk while maximizing their capital gains.

Wealth managers of all kinds are able to succeed during turbulent times, by mixing the old with the new, adapting and taking risks with their structures and methods.
My Website: https://docs.house.gov/meetings/FA/FA14/20190626/109716/HHRG-116-FA14-Wstate-BromundT-20190626.pdf