Man versus Machine: The irreplaceable aspect of trust and network in the family office space
Technology can't replace the human interaction that family offices thrive on, which is why it's important to align this tech with the classic handshake-based business model families are familiar with. 

What you need to know

  • The rise of advanced technology and intuitive software has meant that business operations are more digitised than ever before.
  • While these platforms provide significant benefits, this swift move to a digital world could leave certain families feeling overwhelmed, especially if they’re from a multi-generational, traditional background.
  • While there are many things technology can help to streamline, there are some nuanced aspects of doing business that will still benefit from retaining a human element.
  • Technology can’t replace the human interaction that family offices thrive on, which is why it’s important to take the time to align this tech with the classic handshake-based business model they’re familiar with.
Foresight Published on Simple January 4, 2022

The drastic increase in technological advancement and the move towards a more sophisticated and digitalised society has taken many family offices by surprise. This holds true, especially with multi-generational private family offices representing the interests of families with rather traditional backgrounds. It is often difficult to marry technology with the classical handshake-based business model that these family offices are all too familiar with.

The rise of the investment platform

These days, more and more private wealth is being invested by individuals through their family offices. Digital investment platforms offer a way of streamlining this deal flow. The providers of these platforms promise a more effective, well-rounded and high-quality offering of investment opportunities. The quality of deals is high, search functions are advanced, and the sheer number of deals often exceeds expectations.

Technology is evolving on these platforms. In sophisticated versions, with the support of AI, these platforms can even make smart investment choices, pre-select opportunities, conduct the initial level of due diligence and, in some cases, even suggest a suitable co-investment partner for deals that might be too big to be taken on by the single-family considering it.

About the Authors

David Grammig

David Grammig

Reputation management & events

Parallel to being Partner for International Relations at a Kuwaiti Single-family office

Connect with David Grammig

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