Family office approach
Family office approach
Podcast
25.1.2022
Hello Björn, this is a real premiere. Our first blog post for our brand new FINVIA blog. So thank you for taking the time to kick off our blog with a short interview.
Björn, let's start with a popular question: What is a family office? And how do we differ from a traditional asset manager? We come across this question time and again and I think that many of our readers would be grateful for a brief explanation:
First things first: As a family office, we are not an asset manager in the traditional sense. This is an important distinguishing feature. We are long-term companions for our clients, helping them to achieve their life goals. Supporting wealth naturally plays a fundamental role in this. Our experienced family officers therefore pursue an institution-independent asset strategy with our clients, selecting the best asset managers and negotiating appropriate cost structures for our clients. We consider all possible asset classes - from equities and real estate to private equity funds and even jewelry, art and classic cars. Whatever best suits the client's objectives and interests.
Essentially, our work focuses on the following 3 steps:
1. The assessment/analysis of our clients' asset situation and goals and the strategic asset allocation derived from this. This involves subjecting the total assets to a stress scenario, e.g. financial crisis or tech bubble. The SAA serves as a basis for objectively and optimally aligning wealth based on the individual goals, restrictions and preferences of the wealthy (e.g. asset class preference, loss tolerance, etc.). In addition, the SAA can be used to directly or indirectly influence other issues in the asset structure (e.g. inheritance, liquidity requirements).
2. The investment process in all relevant asset classes including alternative investments.
3. Asset controlling and reporting.
In this way, we ensure that we bring our clients optimally to their investment goal.
And what distinguishes FINVIA from a traditional family office?
We are advanced Family Office and, in addition to excellent, personal advice, we rely on the advantages of digital technology more than anyone else. At the heart of our digital offering is the FINVIA online platform - a kind of "digital boardroom". Behind this is a digital ecosystem that enables customers to access and control their assets online or via app 24/7 in real time. Especially in times of high volatility, the advantage is that clients receive the most up-to-date valuations of their assets. Especially if the assets are spread across different custody accounts and banks. This is precisely why we have developed our Boardroom, to provide clients with all key information quickly and on a daily basis. Unfortunately, assets are often brought together in the analog Excel sheet world. This process is far too time-consuming and delays the decision-making process enormously. In addition, they can also upload and manage sensitive documents and forward them to authorities or even receive the valuation and commentary of their financial data. In this way, FINVIA combines the best of two worlds - personalized advice and state-of-the-art technology - into a sustainable overall concept.
How is the high level of digitization being received by customers?
This is, of course, an absolutely unique selling point for us and is also well received by our customers. However, I would also like to point out that human expertise is at least as important to us. This distinguishes us significantly from tech providers such as robo-advisors. By combining advice and technology, we want to create a synthesis of the best possible advice, efficient processes and a great customer experience. Ultimately, however, the most important value is of course the trust that our clients place in us. This cannot be built as well digitally as it can in person. For us, digitalization is therefore a tool that helps us to take the service of a traditional family office to the next level.
Björn, one last question: If a reader were to decide to become a client with us, what would be the right time to join?
I would say that there is no such thing as a bad time. Or to put it another way: now is actually the right time to get in.
Year after year, wealthy individuals do not receive the advice they deserve. One of the reasons for this is that many wealth advisors are unable to offer the service that would be appropriate for their clients wealth because, for example, they do not have access to the right asset classes or the best managers. Advice is also often not free of interests, as banks, for example, have internal sales pressure that results in them primarily selling their own products rather than the best ones.
Before we founded the company, we asked ourselves why an asset holder with EUR 1 million should receive poorer services and pay higher prices than an asset holder with EUR 50 million. Our aim is to provide excellent family office services to a much broader target group - and at conditions that were previously only available to institutional investors. However, our potential has not yet been fully exploited and we see it as extremely interesting, challenging and also fulfilling to be able to help write these success stories from the very beginning.
Thank you for your time!
Interviewed was Björn SeemannManaging Partner FINVIA Family Office.
Family office approach
25.1.2022
Björn Seemann
In this short interview, our Managing Director Björn Seemann gives us an overview of exactly what sets FINVIA apart from other family offices and how we at FINVIA combine personalized advice and state-of-the-art technology. Because the excellent management of your wealth is playing an increasingly important role these days.
Hello Björn, this is a real premiere. Our first blog post for our brand new FINVIA blog. So thank you for taking the time to kick off our blog with a short interview.
Björn, let's start with a popular question: What is a family office? And how do we differ from a traditional asset manager? We come across this question time and again and I think that many of our readers would be grateful for a brief explanation:
First things first: As a family office, we are not an asset manager in the traditional sense. This is an important distinguishing feature. We are long-term companions for our clients, helping them to achieve their life goals. Supporting wealth naturally plays a fundamental role in this. Our experienced family officers therefore pursue an institution-independent asset strategy with our clients, selecting the best asset managers and negotiating appropriate cost structures for our clients. We consider all possible asset classes - from equities and real estate to private equity funds and even jewelry, art and classic cars. Whatever best suits the client's objectives and interests.
Essentially, our work focuses on the following 3 steps:
1. The assessment/analysis of our clients' asset situation and goals and the strategic asset allocation derived from this. This involves subjecting the total assets to a stress scenario, e.g. financial crisis or tech bubble. The SAA serves as a basis for objectively and optimally aligning wealth based on the individual goals, restrictions and preferences of the wealthy (e.g. asset class preference, loss tolerance, etc.). In addition, the SAA can be used to directly or indirectly influence other issues in the asset structure (e.g. inheritance, liquidity requirements).
2. The investment process in all relevant asset classes including alternative investments.
3. Asset controlling and reporting.
In this way, we ensure that we bring our clients optimally to their investment goal.
And what distinguishes FINVIA from a traditional family office?
We are advanced Family Office and, in addition to excellent, personal advice, we rely on the advantages of digital technology more than anyone else. At the heart of our digital offering is the FINVIA online platform - a kind of "digital boardroom". Behind this is a digital ecosystem that enables customers to access and control their assets online or via app 24/7 in real time. Especially in times of high volatility, the advantage is that clients receive the most up-to-date valuations of their assets. Especially if the assets are spread across different custody accounts and banks. This is precisely why we have developed our Boardroom, to provide clients with all key information quickly and on a daily basis. Unfortunately, assets are often brought together in the analog Excel sheet world. This process is far too time-consuming and delays the decision-making process enormously. In addition, they can also upload and manage sensitive documents and forward them to authorities or even receive the valuation and commentary of their financial data. In this way, FINVIA combines the best of two worlds - personalized advice and state-of-the-art technology - into a sustainable overall concept.
How is the high level of digitization being received by customers?
This is, of course, an absolutely unique selling point for us and is also well received by our customers. However, I would also like to point out that human expertise is at least as important to us. This distinguishes us significantly from tech providers such as robo-advisors. By combining advice and technology, we want to create a synthesis of the best possible advice, efficient processes and a great customer experience. Ultimately, however, the most important value is of course the trust that our clients place in us. This cannot be built as well digitally as it can in person. For us, digitalization is therefore a tool that helps us to take the service of a traditional family office to the next level.
Björn, one last question: If a reader were to decide to become a client with us, what would be the right time to join?
I would say that there is no such thing as a bad time. Or to put it another way: now is actually the right time to get in.
Year after year, wealthy individuals do not receive the advice they deserve. One of the reasons for this is that many wealth advisors are unable to offer the service that would be appropriate for their clients wealth because, for example, they do not have access to the right asset classes or the best managers. Advice is also often not free of interests, as banks, for example, have internal sales pressure that results in them primarily selling their own products rather than the best ones.
Before we founded the company, we asked ourselves why an asset holder with EUR 1 million should receive poorer services and pay higher prices than an asset holder with EUR 50 million. Our aim is to provide excellent family office services to a much broader target group - and at conditions that were previously only available to institutional investors. However, our potential has not yet been fully exploited and we see it as extremely interesting, challenging and also fulfilling to be able to help write these success stories from the very beginning.
Thank you for your time!
Interviewed was Björn SeemannManaging Partner FINVIA Family Office.
About the author
Björn Seemann
Björn Seemann has been Managing Partner and Managing Director of Finvia Family Office GmbH since October 1, 2021.
He has been working in wealth management and wealth management for almost 30 years. Today, his decades of experience in acquisition, support and advice benefit wealthy private clients, companies and entrepreneurial families as well as foundations.
By founding and being responsible for the very successful establishment of two branches of various private banks (Executive Director at UBS Deutschland AG and General Manager and 15 years Branch Manager at Julius Bär Deutschland AG) in Baden-Württemberg, the father of three has also acquired valuable know-how in the management, development and recruitment of personnel.
Due to his voluntary work, he also knows the "other side" of the coin and knows how he can create real added value for people through his large network. He received the "Stuttgarter of the Year 2018" volunteer award and the "Role Model in Baden-Württemberg 2020" award in Wealth Management Germany. He has also been a certified advisory board member of Beirat-BW since 2021.
