Family offices are slow to adopt new technology. Image via Envato As the market for family office technology expands, those that resist digital transformation risk undermining the very legacy they strive to protect. Family offices , responsible for preserving multi-generational wealth, face mounting pressure to modernise. Many still rely on outdated tools, manual reporting, and fragmented data systems, leaving them vulnerable to inefficiency, security risks and succession challenges. As younger generations demand mobile access, real-time insights and intuitive digital tools, failing to embrace digitalisation may lead to financial losses and the erosion of family values and legacy. “Digitalisation is the glue that holds multi-generation wealth together. Family offices will struggle to survive — let alone thrive — without it,” says Chelsea Smith, senior national director of family office advisory services at Bernstein Private Wealth Management in the US. A centralised digital system consolidates financial data, governance structures and succession plans in a secure, accessible format. “It should contain all financial information, documents and governance frameworks that can be shared with all family members as needed,” explains Ms Smith. Structured communication tools are essential for helping next gen family members understand the family’s investment strategy and long-term vision. Without them, […]
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
K&X Design and Investment Technology, LLC
Invest The Invisible Impact
