This article discusses the top trends which are affecting the use and building of family office data base resources.
The space is evolving quickly as more competitors are fighting for the attention of FOs to gain access to their large pools of concentrated wealth.
The top trends we are seeing within this space include:
The space is evolving quickly as more competitors are fighting for the attention of FOs to gain access to their large pools of concentrated wealth.
The top trends we are seeing within this space include:
- More fund managers and investment banks are buying ongoing updates to their data base resources in order to have the most updated information possible.
- Some hedge funds are making the mistake of spamming or mass emailing ultra high net worth wealth management firms, this lowers their response rate and their reputation in the industry.
- More media companies and individuals are offering directories of FOs than ever before, because of this you have to do more due diligence before getting one
- The most sophisticated of hedge fund and private equity fund managers are using databases of FO contact details in order to use multi-modality marketing to raise more capital.
To implement this they are sending out mailings, emails, and phone calls all sequenced strategically to maximize the response rate over time.
This is a trend that I see really growing further over the next few years.
- While some groups are offering databases for under $1,000 many are raising their prices as these resources cost a lot to maintain over time.
The result is that many resources now cost $2,000-$5,000