For ultra-wealthy families, a family bank represents both a powerful conceptual framework and, in some cases, a formally structured approach to deploying capital. More than just a financial tool, family banking creates a foundation for fostering legacy that extends far beyond numbers on balance sheets. Here we explore this model, explain how it integrates with family office operations, and highlight key considerations that modern family office builders should understand when implementing this time-tested approach.
Above all, open banking should benefit all stakeholders. Then make it convenient. Clients may easily control their finances at any time, as well as their payment commitments, assets, and provisions. Then there are the banks, which anticipate satisfied customers. FinTechs should be thrilled as well since they may access new demographics. Then, with their services, platform operators bring value to banks, consumers, and FinTechs.
These days, digitalisation is transforming the entire financial industry. What does that mean for professionals in the business of managing assets on behalf of wealthy and ultra-wealthy individuals? This article examines the importance of modern digital solutions for private bankers and independent asset managers in assisting them to deliver exceptional client service.
Automated, algorithm-driven investment platforms, commonly known as robo-advisors, have emerged as a convenient solution for portfolio management. While able to serve as an alternative to human financial advisors for fee-sensitive clients preferring a do-it-yourself approach, robo-advisors can also provide a valuable tool for traditional, relationship-driven wealth management firms to provide superior services. This article describes how.
Projections of the value of the personal assets set to change hands during the so-called Great Wealth Transfer have risen from US $129 trillion from $72 trillion. More significantly, or perhaps alarmingly, are expectations that up to 88% of heirs to this wealth will fire or replace their parents’ financial advisors. How can you position yourself to keep serving the next generation of their clients? Read on for our top three recommendations.
Asian business founders and wealth owners are ageing, and more of them than ever are transferring their assets to younger family members in what has been dubbed the Great Asian Wealth Transfer. This trend is setting the stage for private wealth management advisers and banks to shine through comprehensive estate and legacy planning.
The ability to extract actionable, real-time insights from multi-source data is an increasingly important success factor for wealth management businesses. Here we introduce data virtualisation as a way for them to build this ability and why they should consider adding it to their digital tool belt.
Transaction banking, which is seen as a rising star in the financial services business, gives banks a unique but tricky chance. It's important because it combines a lot of different transaction-based tasks into a single, unified business unit.
He was not a good pupil; rather, he was restless and hyperactive. As a child, Sergio Ermotti dreamed of a career in football and often stood behind the FC Lugano goal as a ball boy. But things have changed significantly: the 63-year-old manager is now one of Europe's longest-serving bank CEOs. After working as chief executive of Swiss banking giant UBS from 2011 to 2020, he regained this position in the spring of 2023.
The UBS Billionaire Ambitions Report 2023 highlights a significant shift in which billionaires have crossed the line where inheritance outpaces entrepreneurship in wealth accumulation.
Traders and investors are constantly seeking tools and indicators that provide valuable insights into market trends and potential opportunities. One such powerful tool gaining traction is the Smart Money Index (SMI). In this article, we will explore its significance, functionality, and the impact it can have on your financial management journey.
Blockchain is growing in prominence across financial services. This decentralised shared digital ledger of information about transactions might also be a very promising technology for bond issuance. Integrating blockchain into traditional financial markets could lead to more efficient processes and cost savings. Therefore, banks are turning to blockchain technology to experiment with issuing ‘digital’ bonds.
In an era of rapid technological evolution, the financial services industry is at a crossroads where tradition and innovation collide.
In a time when technological advancement is reshaping the landscape of the financial industry, private banks have significant implications. The emergence of open finance, which fosters transparency and inter-connectivity in financial services, presents these institutions with a unique opportunity.
Joseph Safra, a prominent figure in the Brazilian banking industry, has been recognised as one of Brazil's accomplished bankers of his time. With the inclusion of iconic buildings such as The Gherkin in London and New York, his fortune was estimated to have reached USD 23 billion at the time of his passing. The Basel-based J. Safra Sarasin Bank has made significant strides in becoming one of the most accomplished private banks in Switzerland.
Since 2015, environmental, social, and governance (ESG) criteria have gained increasing prominence as a framework for assessing businesses. In that year, the United Nations adopted both its 2030 Development Agenda Sustainable Development Goals (SDGs) and the Paris Climate Accords to formalise the organisation’s approach to advancing sustainability and urge global companies across all sectors to align with these objectives.
A total of 271 years have passed since the establishment of the oldest Swiss bank, Wegelin & Co., until its closure. As the 13th oldest bank in the world, it has written the history of finance. In January 2013, the story was suddenly over. However, it has shaped the Swiss financial system, and her loyalty to customers has become fatal.
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Deciding whether to establish a family office is often one of the most important choices wealthy families make. A wide range of factors shape this decision. In this article, we examine three of them by comparing four wealthy families and their approaches to managing their fortunes.
María Asunción Aramburuzabala formed family office Tresalia Capital after her father Pablo – executive vice president of Grupo Modelo, the brewer of Corona beer that his own father Felix founded after the Mexican Revolution – died unexpectedly of cancer in 1995 at age 63 with no finalized succession plan. Today she is worth an estimated $8.2 billion, making her Mexico’s wealthiest woman and Latin America’s second after Chilean mining magnate Iris Fontbana. Her story holds three valuable lessons for today’s family office builders.
Today’s family offices face two challenges that seem to work against each other: keeping talented staff and controlling costs. Recent industry research shows this phenomenon to be widespread. Simply paying higher salaries is not the answer. The way forward is to invest in modern technology that transforms how family offices operate.
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María Asunción Aramburuzabala formed family office Tresalia Capital after her father Pablo – executive vice president of Grupo Modelo, the brewer of Corona beer that his own father Felix founded after the Mexican Revolution – died unexpectedly of cancer in 1995 at age 63 with no finalized succession plan. Today she is worth an estimated $8.2 billion, making her Mexico’s wealthiest woman and Latin America’s second after Chilean mining magnate Iris Fontbana. Her story holds three valuable lessons for today’s family office builders.
