Private Wealth and Family Offices

Private Wealth and Family Offices - Articles & White Papers

The Savvy Investor Private Wealth and Family Offices topic covers private banks/ wealth advisors, ultra-high and high-net worth individuals ((UHNWI, HNWI), family offices, wealth management and wealth planning, with access to articles, white papers, and the latest insights onsite.

This section dives into the wealth management industry and financial planning aspects alongside financial advice in the highly respected financial market fields with independent financial advisors (IFA) from the UK as well as registered investment advisors (RIA) from the U.S....

Private wealth management services are essentially advisory institutions that deal with financial planning – covering investment advice best services an individual’s portfolio or individual tax affairs. Under the lens of private wealth management, this is useful to HNWIs, with this private wealth services also available in select, large banks or small family offices, and other types of institutions.

Private banks, on the other hand, deal with more custom-care, personalised services, and management of client finances. Typically, private banking looks at providing management services to HNWIs that offer investment-related advice, considering the entire financial circumstances of the client, rather than the execution of investments (private wealth management).

HNWIs or UHNWIs require counsel over their financial matters through wealth managers who specialise in private finance management. HNWIs tend to have more bespoke requirements than what financial advisors (IFA, RIA, etc.) may be able to provide. These can relate to tax requirements, real estate planning, fixed-income, equity, or alternative investment platforms which create legal issues that impact on the financial structure the client is seeking to build.

Financial, investment, and wealth advisors all come from similar backgrounds and offer similar services. A financial advisor would cover more than trade executions. They would also provide some form of financial planning, which covers not only investments, but savings, tax, insurance, income, and budgeting.

Private Wealth and Family Offices pertain to:

  • Private wealth or banks
  • Independent financial advisors (IFAs), registered investment advisors (RIAs), wealth managers, certified financial planner (CFP), registered representatives (RRs), personal banker, mutual fund representative, investment representative (stockbroker), investment advisor, insurance advisor
  • Family offices
  • Robo-advice, big data
  • The Securities and Exchange Commission (SEC), IAA, FINRA, FCA, FSMA, ESMA, EIOPA

Robo-advisors are digital platforms that utilise automation, algorithmic-style financial planning services, with little to no human interaction. This is data-driven, using response-based forms to determine a calculable investment approach, usually optimising passive indexing strategies and simple investing options, rather than more complex circumstances such as real estate planning.

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