The Evolution of Family Offices: Modern Investments and Legacy Planning

Planning Reimagined

Celeste and Kris are joined in the episode of Planning Reimagined by David Friedman, Partner at Forbes Banister International. David talks about the evolving landscape of family offices, the role of technology in managing family wealth, and the shifting paradigms in investment strategies. He also talks about how technology revolutionizes ownership transparency in investments and long-term asset management. Celeste discusses the importance of experiential investing for newer generations and how it creates new demand for flexibility and new investments.

The episode also discusses the challenges of intergenerational wealth transfer, highlighting the critical necessity of preparing the next generation to manage family assets effectively. They also touch on new investment opportunities, such as music as an asset class and the tokenization of real assets via blockchain. They also talk about the difficulty that family offices can face in a lack of technology in managing assets, and other gaps in how they are run.

Key Topics Covered:

• Connect technology platform for managing family data
• The friction in educating family members about risk
• Emotional decision-making in family offices
• Music and assets as new investment classes
• Blockchain's role in asset ownership transparency
• Risk management across family balance sheets
• Intergenerational struggles in wealth and leadership transfer
• The trend toward experiential investing and flexible living arrangements
• Cybersecurity and the risks of single-point failure in family offices

To connect with David, visit: https://www.linkedin.com/in/uhnw/

To learn more about Robin Glen, visit: RobinGlen.com

To schedule an appt, visit: www.calendly.com/ccmoya