Contingency Planning.  Believe in the best, prepare for the worst

Contingency Planning. Believe in the best, prepare for the worst

Jan 08 - 12. 2018
The family office is about growth, yes. But it is, primarily, about preservation. Risk, disaster, crises are not like opportunity. They don’t knock, they just crash the door.

Reputation Management – Preparation is Key

An important element of asset management for UHNWIs is reputation management. This requires family offices to undertake careful planning and development of a family crisis plan, which includes the critical element of crisis communication within and outside the family. Careful analysis is involved to mitigate reputation risks of UHNWIs. Apart from crisis situations, family offices need to factor in any significant events that come with the potential to damage their client’s reputation, such as weddings, c...

Independent Brokers Switching to Registered Investment Advisors

The Independent Broker Deal (IBD) is slowly but surely turning into a thing of the past. With the changing demands of regulatory requirements and increasing business costs, key IBD players are evolving into the hybrid version – RIAs. The fee-based model is consistently diminishing in popularity due to the lack of scalability required for compliance, the insufficiency of the established infrastructure required to support larger entities and the rising tax implications. IBD business owners are now adopting a long ter...

Avoiding the Pitfalls of Social Media

Avoiding the Pitfalls of Social Media

Oct 23 - 27. 2017
Broadcasting sensitive information via social media can result in putting someone in peril as well as cause damage to reputation. Social media platforms can, for example, reveal the location of a user - valuable information for would be kidnappers. “There is a tendency for people not to view social media as a dynamic of the security playing field,” says Mr. Raphael.

Choosing a Provider: Best Practices

Choosing a Provider: Best Practices

Oct 23 - 27. 2017
Family offices often face the age-old debate of whether to build or buy. Building an in-house platform is more expensive and more difficult to maintain over time but can enable more customization than choosing an outside provider, Mr. Thijssen points out. On the other hand, outside vendors may provide a more robust platform that has the ability to evolve, he adds.

Celebrity Wealth Planning – Don’t Shadow their Investment Style

We see them as the obvious icons of wealth, basking in its glory with a luxurious image. As attractive as it may seem to follow in their investment footsteps, celebrity legacy planning is a whole different ball game and mimicking their investment decisions may just end up being the short end of the stick to non-celebrities. As Hollywood stars are seen investing away in tech companies and Asian celebrities seem to be following suit, we notice the subsequent popularity of this investment avenue amon...

Digitization of Wealth Management – The Need of the Hour

Yes, digitization has encompassed almost every industry at an unprecedented rate; yet, one sector seems to be lagging behind – wealth management. As viable as the justifications to the hesitancy of going digital, the advantages sure outweigh it. If it’s done right, wealth managers that are quick to adopt digital wealth management platforms are sure to stay ahead of the competition with robust systems, fewer operating costs and happier client relationships. Not to mention, the substantial decrease in suscep...

The High and Low of the Single Family Office

A wealth management agency that solely looks into the affairs of one UHNWIs family – a Single Family Office (SFO) is an entity that is, slowly but surely, appearing more prominently among global wealth advisors. On the other side of the coin, we have the Multi Family Offices (MFOs) that come with the obvious advantage of a more expansive investment reach. However subtle it may seem, SFOs come with their set of distinct advantages too. The first and most obvious is their connectivity to the needs o...

Need of the Hour – Wealth Management to get Tech Savvy

Ever wondered why there is a sudden rise of family offices investing in tech start-ups? The thought process behind investment moves, such as this, spring from the familiarity of the second and third generational decisions of family held businesses. Even family offices are experiencing a succession phenomenon and the oncoming generations comprehend the advantages of, not only investing in, but also gearing up for technology-led change. At the recent Hubbis’ Indian Wealth Management Forum 2017, Abhra Roy, head o...

China Wealth Managers Look to Take Hold of the Family Office Prospect

The increasing numbers of wealthy in China seem to be attracting the eye of wealth managers, resulting in a sudden surge of interest into the family office sector. The family office entity, one that looks into the wealth management of the top notch affluent families, is increasingly garnering the attention of traditional wealth managers, such as, banks, trusts, and other wealth management firms. Traditional wealth management firms have ventured into the family office scene more so as multi-family office...