Bringing you live news and features since 2006 

KnowLedger publishes white paper examining disruptive forces in the UHNW space

RELATED TOPICS​

Accounting technology company KnowLedger has published a new white paper that examines the challenges and opportunities for family offices and other wealth management firms in today’s volatile economy. This special, 20-page report examines how recent events and market trends—as well as demographic, social, and technology shifts—are creating new challenges and growth opportunities for family offices and other wealth management firms serving ultra-high-net-worth (UHNW) clients. Additionally, the report discusses how wealth management companies can leverage these market forces and reposition themselves for a greater competitive advantage. 

Historically, family offices and wealth management firms, especially those catering to UHNW clients, have not been on the forefront of technology. According to experts, newly emerging disruptive threats, as well as major shifts in demographics and consumer expectations, have begun to spur change on this front. Furthermore, the coronavirus pandemic has also acted as a catalyst for change, underscoring the seriousness of these threats.

“Family offices and other wealth management firms are facing threats on several fronts,” says Ryan Kerry, CEO of KnowLedger. “Major demographic shifts and rapidly changing customer expectations, coupled with serious competitive threats, are pushing these firms to level-up legacy systems and processes to provide a more seamless customer experience.”

Meticulously sourced from a wide array of leading industry experts, consultants, and publications, including Barron’s, BCG, Capgemini, EY, Fidelity, UBS, and many others, this white paper explains these developing market forces and how firms can respond. From the rise of millennials to the potential uses of AI and ML for automation, this analysis discusses the vast potential for growth.

The first half of the report examines the financial impact of the global pandemic, including opportunities for wealth management, generational and demographic shifts, the rise of millennials, women and wealth, and the new face of global wealth. The second half discusses potential tech disruptors, including the need to level-up customer experience, the impact of digital transformation, upgrading legacy systems, fostering innovation with APIs, and the potential for automation using AI and ML.

According to Kerry: “No two family offices are alike, but they do share common challenges.” Indeed, many firms are just starting to become aware of these challenges and have not even begun to seek solutions. KnowLedger’s goal in publishing this white paper is to raise awareness of the challenges “and hopefully spur ideas so that firms can start to discuss and explore potential solutions.”

In conjunction with the release of the white paper, KnowLedger has also introduced the Family Office Digital Assessment Program (FODA Program). The FODA Program is a five-point digital assessment designed to identify and diagnose common problems that can drag down operational efficiency and negatively impact performance. To learn more about the FODA Program, contact KnowLedger.

Latest News

Raymond James Investment Management plans to launch an ETF product platform in 2025 to support strong client demand in alignment..
Aniket Ullal, Director of ETF Data and Research at CFRA Research, has written a note looking at ETFs with exposure..
Tradeweb reports the following data derived from trading activity on the Tradeweb Markets institutional European- and US-listed ETF platforms...
iShares writes that its assets under management have reached USD4 trillion. The firm says this comes off the back of..

Related Articles

Chris Lo, Columbia Threadneedle
In a recent insight on India by Columbia Threadneedle Investments, the firm reports that the country’s economic reforms, which aim...
With an election on the horizon in the United States a group of ETFs is poised to capture investments on...
Robot worker
Qraft Technologies, based in South Korea, specialises in the use of AI in security selection and portfolio construction....
Andrea Busi, Directa SIM
Romain Thomas talks to Andrea Busi (pictured), CEO of Directa SIM, who explains why the online trading platform has just...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by