Generational change. Global mobility. Technology-driven change. Farnoush Farsiar writes for EU Today that these are only a handful of major changes that affect family offices and could fundamentally alter their structures of operation.

Family offices cater to an increasing number of younger, mobile and tech-savvy generations. The financial crisis and the increasing accessibility of trading online and its democratisation has led to more clients becoming attracted to their investment choices. They want more control and information, and no longer want the discretionary portfolio management mandates of their clients in a jiffy.

Farnoush Farsiar The changes are occurring during a time of political and economic turmoil. Offices that attempt to continue their old methods will soon discover that they are not being used by the very people they were created to help. Farnoush Farsiar They must be agile and creative in managing investments in order to provide UHNWIs with a value proposition.

Family offices vary in dimensions and their size and. But, they must be able to focus on scalability and streamlining their offerings and not try to be experts in each area. Farnoush Farsiar Clients would appreciate a smaller staff of advisors capable of rapidly adapting to new technologies, as well as hiring external experts as needed. Farnoush Farsiar This has led to the blurring of the lines between private banks and family offices. Successful firms will continue to preserve the loyalty of family offices as well as the level of 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. You can also make use of online tools and methods to find deals or opportunities. Wealth managers and private offices which can handle large amounts of deals on the internet are superior to banks with a cumbersome structure. suite.endole.co.uk/insight/people/23756008-ms-farnoush-farsiar These platforms allow for dealmakers to review several deals at once and make it easier to save time and energy.

Other online services that are changing the way family offices interact with their clients include dashboard services, such as Wealthica that automatically consolidates investments from a range of sources, bringing customers in daily contact with their investments. This is which is a vast improvement over the past when wealth managers gave periodic information on the status of their customers’ money.

http://www.businesstelegraph.co.uk/why-there-are-few-women-in-finance-farnoush-farsiar/ fr-fr.facebook.com/pages/Farnoush-Farsiar/163318870439653 Of course they are only tools – the methods to help wealth managers enhance the speed and efficiency with which they operate. The most crucial aspect to consider when investing is the method that is used to implement these tools. Farnoush Farsiar It is important to combine the old and the new. For instance, continue to search for deals in real estate and also look into investing in areas that aren’t as well-known, such as climate science or food security. Impact investing has undoubtedly ‘arrived within the family office world – the UBS Global Family Office Report 2018 revealed that a third of family offices are now engaged in impact investing and most expect to become more active in the near-future. There are a myriad of issues with this area including the difficulties of determining impact and performing due diligence. But the next generation of UHNWIs and HNWIs will be expecting family offices to determine and secure investments in this area. Plato Capital, my own boutique investment bank, draws from the expertise of its founders from large banks as well as the technology industry to provide investment guidance that is entrepreneurial in focus. Our local experience and networks allow us to assist our clients effectively manage risk while maximizing their capital returns.

Wealth managers can thrive during turbulent times through blending the past and the future, adapting to the needs of the new generation and taking risks in their own frameworks.