The Shifting Role Of Banks For Family Offices

It’s not change that people fear most, it’s the potential loss associated with that change – a psychological aversion that can make people take actions they wouldn’t usually consider. This is something that applies to companies too, since at the end of the day, companies are run by humans that naturally have an aversion to any losses changes may bring, potentially even more so the higher up you go in the ranks of power.

With significant changes afoot within the family office industry as the next-generation begin to exert growing influence, its only natural that some of the more established players in the industry and surrounding service providers would be resistant to this. The bigger and more established players often even more so, which is why its interesting to see how banks respond to the evolution taking place within an increasingly important customer segment.