In this piece, I would like to focus on the changing population within wealth management. The affects the client’s and advisor’s side as well as services demanded by the client and opportunities to sell services for advisors active in the wealth management industry.
In the last blog post from Check6 for 2019, we are looking at the best practices for family offices in 2020.
Onno Coenen (45 years old) joined the Check6 team as of 1st of November as the Commercial Director for Asia in Singapore. Onno and his wife moved from the Netherlands to Singapore in August 2018 and visited Singapore on a regular basis since 1997. The main reason for moving to Singapore was the opportunity to expand the business of a few of his clients (FinTech) to South East Asia. Over the last year, Onno has built his business network and is proficient in launching technology companies in the Singapore market.
Former corporate finance banker, Peter Brock is an independent advisor to entrepreneurial families. As such, he counsels family offices on family wealth and family office structuring, governance, succession solutions, impact investing and direct investments. Check6 spoke to him about how technology could improve the ways wealth is tracked and reported on so that it can help families gain the kind of oversight and control of their assets that they want to achieve.
Topics: single family offices, multi-family offices, wealth advisors, Next Gen Wealth, wealth reports, daily wealth reports, asset managers, financial data management, consolidated reporting, Private Assets Module, PAM
There is plenty of information decrying corporate use of Excel for financial data. Even as far back as 2013 Forbes published an opinion piece with the ominous and provocative title: ‘Microsoft’s Excel Might Be the Most Dangerous Software on the Planet.’ The article pointed to perils including the errors that can occur from manual entry of data and mistaken calculations resulting from incorrect equations, which, distressingly, had cost some banks billions of dollars. For most companies, including Family Offices, however, Excel has represented one of the only available options for inputting and calculating financial information. Yet, as we move forward toward integrating that financial data, Excel’s risks and limitations appear all too frequently.
Topics: single family offices, multi-family offices, wealth advisors, Check6 Portal, Data translation, Online Wealth View, interactive wealth management tools, direct data feeds, 360-degree overview, HNWI and UHNWI, wealth reports, asset managers, financial data management, data reconciliation, consolidated reporting, Private Assets Module, PAM
Check6 spoke to Blanco Systems' CEO, Joost Walgemoed about the company's cloud-based platform for asset managers and how Check6 can take Blanco's reports to the next level.
Topics: FinTech, Detailed Look-Through, interactive wealth management tools, insightful financial reporting, banking platforms, direct data feeds with banks, direct data feeds, Blanco Systems, Joost Walgemoed, wealth reports, daily wealth reports, asset managers
As co-founder and CEO of Team Blockchain, Ltd., Jonny Fry is a frequent contributor to print and broadcast publications on Blockchain-related issues. In the 1980s he started, and later became CEO of an asset management company, which was floated on the London stock exchange. After over 20 years, and having grown the funds under management to over £1 billion, he wanted to do something different. He was attracted to the opportunities to help companies that Blockchain technology presented and, even more, believed that crypto-currencies had created a new asset class for investors that could help digitize many industries in important ways.
Topics: single family offices, multi-family offices, wealth advisors, Next Gen Wealth, Changing consumer expectations, Tokenization, Blockchain, Jonny Fry, Team Blockchain, Blockchain Real Estate, Leaseum, HNWI and UHNWI
Topics: data visualisation, wealth advisors, Data translation, FinTech, Next Gen Wealth, insightful financial reporting, Changing consumer expectations, data security, direct data feeds with banks, Check6, transperancy, UN Sustainable Development Goals, SRI
It’s difficult to get through the financial news these days without seeing or hearing the words Socially Responsible Investing (SRI), Impact Investing, Ethical Investing or any number of their offshoots. Whether it's wanting funds to support schools in Africa that educate girls, helping economically challenged kids afford to go to college, or making sure their money is contributing to environmental projects, it’s clear to Check6 that investors are more and more concerned not just with how much their investments are making them monetarily, but how that money is being made and how that reflects on their moral and ethical position in the world. This is being seen in the growth of such investments over the last year alone. As the most recent Global Impact Investors Network (GIIN) estimates show from its annual survey, there is now 228 billion USD in impact investing assets, which is nearly double that of last year.
Topics: Data translation, impact investing, ESG, socially responsible, environmentally friendly, Next Gen Wealth, insightful financial reporting, Changing consumer expectations, data security, direct data feeds with banks, direct data feeds, automatic data feeds, visibility, 360-degree overview, UN Sustainable Development Goals, Socially responsible investing, SRI
Check6 has been named to the first annual UK Wealth Technology Landscape Report conducted by The Wealth Mosaic in the UK, which names and examines the most compelling technology solution providers serving the needs of the UK wealth management sector.
Topics: innovation, single family offices, wealth advisors, FinTech, Online Wealth View, Detailed Look-Through, interactive wealth management tools, insightful financial reporting, banking platforms, direct data feeds with banks, direct data feeds