Notes

How wealth management firms can prepare for turbulent times [Farnoush Farsiar]
Generational changes. Farnoush Farsiar Global mobility. Technology transformation. Farnoush Farsiar of EU Today writes these are just some of the major changes that are affecting family offices, and fundamentally impacting their practices and operations.

Family offices cater to the more mobile, tech-savvy and younger generations. The financial crisis and democratisation of trading via online tools have brought all customers, regardless of age and interests, more interested in their investments, meaning they want to gain more knowledge and involvement in their investments as well as losing the traditional appetite for discretionary portfolios that are managed by arm's length.

These changes take place in a critical time of political and economic crisis. Offices that try to keep their old methods will soon find they are abandoned by the very people they were established to advise. They have to adapt and be more innovative with their approach to investment management in order to offer a true value proposition for UHNWIs.

Farnoush Farsiar Family offices differ in terms of their dimensions and their the scope. They should be able to concentrate on agility and streamlining their services and not try to be experts in every area. Customers will appreciate a lower number of advisors who are adept at quickly implementing new technology and also bringing in experts as they are required. This has led to the blurring of lines between private banks and family offices. Successful firms will continue to maintain the loyalty of family offices as well as the trust they have while also staying ahead of technology in sourcing deals and adopting new technologies.

Your success will be contingent on your capability to tap into traditional or network-based sources of deal sourcing. https://zippyshare.com/farnoush-farsiar3dddcc33 You can also use online methods and tools to identify deals or opportunities. https://www.indiegogo.com/individuals/29716768/ Deal sourcing platforms on the internet can be easily incorporated by wealth managers and a flexible private offices, in contrast to big banks, which are weighed down by bureaucracy. These platforms make it possible dealmakers to assess multiple deals simultaneously and save considerable time and effort.

Farnoush Farsiar Wealthica and other dashboard services such as Wealthica are also revolutionizing the way family offices interact directly with their customers. They consolidate investment in a way that is automated from multiple sources, and put clients in daily contact with their investments. Farnoush Farsiar This is a huge improvement on the days of wealth managers who only provide periodic updates on the status of their clients' funds.

These tools are not the only way wealth managers can improve effectiveness and speed of their operations. The most important factor in investing is the strategy that supports these tools. Again, the edge comes from combining the traditional and the modern - continuing to search for deals in real estate etc while also considering investments in previously unexplored fields like food security or climate science. Impact investing is definitely "arrived" in the world of family offices , according to the UBS Global Family Office Report 2018, which found that one-third of family offices were now engaged in the field of impact investing. Many anticipate to become more involved in future. There are many hurdles in this field like the measurement of impact and conducting due diligence, future generation of HNWIs/UHNWIs will want their family offices to be able to find and secure these kinds of investments. My firm, Plato Capital, is a small investment bank that draws on the experience of its founders, in family offices, big banks and the tech industry to provide investment advice with particular attention to the entrepreneurial. Farnoush Farsiar Our personal local knowledge and connections allow our clients to effectively manage risk and make optimal returns on their capital.

Blending the old with the modern, adjusting to the demands of the new generation and being prepared to take risks with their own strategies and structures Wealth managers of all kinds can remain relevant and thrive even in the midst of difficult times.
My Website: http://hawkee.com/profile/1725387/