Talent shortages globally means that Family Offices lack the scale to build comprehensive in-house teams, forcing them to turn to multiple third-party professionals to meet their needs. But is there a more efficient way to do this?
In Citywire Asia‘s article Polka Mishra, Partner and Managing Director at Javelin Wealth Management, pitches in on the opportunities that wealth management firms have in the ‘underserved’ sub-S$300m family office market. She comments, “Even if you can outsource a lot of this, like compliance, IT and a tax consultant, managing third-party service providers is a headache. It’s not just the dollar cost, it’s management or the family’s time”. Without adequate support from wealth management firms, most family offices in Singapore will find it difficult to move past the infancy stage.
Have a read here: https://lnkd.in/gPSKAHTE
Javelin Wealth Management makes operating a family office simpler and cheaper by offering a service which focuses on client-specific needs. If you are looking for such personalised solutions, drop us a message!