By Cosimo Violati
Business Developer, Altoo AG
Due to the growth of sophisticated wealth management software, many HNW and UHNW individuals are taking control of their money. Or maybe they are giving it to a small team of trusted financial advisors to manage through a family office. How do you enjoy financial freedom like this? Our Altoo wealth management digital platform is a solution.
In a society where political and economic upheaval is the norm, complete financial freedom is the pinnacle of luxury. In an uncertain market, the UHNWIs are looking for ways to protect their assets, and having a direct hand lets them make quick, personal decisions.
New Challenges in Wealth Management
The HNWIs and UHNWIs are making their long-term and short-term investments in order to match their personal goals and values. This growing desire to manage one´s own wealth is also driven by a rapidly evolving financial and investment environment.
Over the last decade, wealth management has transformed significantly, with a rise in various assets, including digital ones such as cryptocurrencies. This has made wealth management more complex, demanding more personalised and sophisticated strategies beyond traditional stocks and bonds.
We cannot forget that ESG has also been a trend in the last five years. In today’s age of higher inflation and deglobalization, income-generating investments and commodities are becoming more popular. An increasing number of HNWIs and UHNWIs want to invest in sustainable assets to ensure a financial legacy they are proud of.
By managing wealth in-house, he or she can ensure their investments are in line with their own morals and help support practices that are good for the environment and society. Still, managing complex assets, especially without a family office, can be difficult and risky.
Solutions by Altoo
Our Altoo wealth platform is an example of advanced software that provides HNWIs and UHWNIs with a holistic view of their wealth. It offers an intuitive dashboard with clear, up-to-date information on all assets as well as vital market data. This up-to-date knowledge aids decision-making, reduces the likelihood of anything being overlooked, and aids in maintaining a well-balanced, diversified portfolio.
The programme can accommodate a variety of circumstances. Some HNWIs and UHNWIs, for example, may prefer to directly manage their financial affairs, but others may hire specialised staff or establish a single-family office to manage their money on their own. The strategy might differ substantially based on the individual’s preference, the complexity of their assets, and their willingness to be involved in day-to-day financial management.
Our advanced wealth management software includes financial reporting and analysis, with up-to-date data providing up-to-date investment analysis. Through estate planning, all documents are stored in one central and secure place, facilitating the smooth transition of assets. Budgeting and expense tracking are done with up-to-date data. Investment management, including portfolio tracking and asset allocation tools, uses 24/7 up-to-date data on the progress of investment portfolios, including traditional and exotic investments. In Altoo´s software, tax planning tools, including tax calculators, income tax estimators, and tracking tools for tax-deductible expenses, are available.
Let ´s talk about Benefits
As a nimble, independent entity, Altoo is able to respond quickly to new trends and customer demands. Our integration of the latest technologies into the traditionally conservative banking and investment industry has been innovative. The wealth management platform is constantly updated, and security, a cornerstone of Altoo’s delivery and development, remains an absolute priority.
Managing wealth directly allows HNWIs and UHNWIs to have full control over their investment decisions and financial strategies. They can react quickly to market changes, adjust their portfolio allocations, and take advantage of emerging opportunities without relying on external advisors.
By handling their own wealth management and financial planning, HNWIs and UHWNIs can avoid paying high fees to professional financial advisors. While some may choose to work with advisors for specific needs, reducing the reliance on external advisors and wealth managers can lead to significant cost savings over time.
