ENGAGING & Networking Family Offices/UHNWI Investors - HOW 2020

I have been engaging, networking to connect with Investors for the past 10 years and in 2017 I decided that the Family Office network became more open, so I jumped in and have never looked back as I have found my niche which I thoroughly enjoy though very costly to network in.

In 2017 I decided to attend every possible Investment Event in London from breakfast to late night cocktails – this task I did for a year and never again. What I did learn is that I know what type of investor ticket size and ‘sweet spot’ where they like to hang out if at all.  In that year 2017 I met a French Family Office looking to set up an office in London and that was the beginning of my journey. That year I also started working in partnership with a Swiss Family Office re Events in London and Zurich.

In 2018 I started working in partnership with other FO/UHNWI’s from USA Family Office – Richard Wilson when they first approached me to work with them to support their first Family Office Event in London which has gone from 30-300 in 2019. I also was a speaker for them in London and NYC in 2019. I have to say that from my experience of attending these Events I found the NYC Investor Event in 2018 one of the best I have ever attended with over 800 Investors. It was truly an experience that I will never forget. Then between 2017-2018 and then in 2019 worked in Monaco with a  Family Office Event on two occasions though I will not be returning to Monaco for 2020 as I found that the genuine Investors became less and it was more Funds and Service providers pitching though great location with super hotels and restaurants and we know it was on the TOP TEN list given out in the UK by Lawyers to Family Offices if Brexit did not happen!

https://familyoffices.com/ We will aim to make this one Sep 2020.

In 2019 I was also speaking at a AFRICA START UP Conference in Tunis where I met some FO/UHNW’s from SA Paris and the Gulf area to add to my network but will not be repeating that one again due to the political cloud that hangs over it. I also had the privilege of being invited to attend as a VIP to the German Prestel and Partners FO Event in London in Sep 2019 and I am honoured now to be asked to partner them in 2020 for their Global Office Events. This is a genuine FO behind the events, and they are of a very high quality, conservative and well organised. This did open for me genuine FO’s in UK and Europe. https://prestelandpartner.com/

We had our own Summer Investor Conference in July 2019 for FO/UHNWI’s and it blew me away and exceeded all my expectations as it was my first one in London without any Partners or Sponsors that we attempted and we entertained over 3 days with networking cocktail parties and 121 Investor meetings and DAY CONFERNECE with a formal lunch and pm cocktail evening. We entertained 150 Investors and raised for 4 companies total of ￡6m. So, we are back bigger and better for 16 July 2020 and as a ‘warm up’ for our Investors we have our SPRING INVESTOR Event on 26 March 2020 London Mayfair nowhere else to host an Investor Event. https://www.eventbrite.co.uk/e/family-office-spring-investor-summit-londoneurope-2020-tickets-89393316817 The Link to the Summer Conference Family Offices will go live in February 2020.

Much to my Accountants surprise and disgust I think he informed me before Christmas on what we had spent on attending these Investor Events re travel accommodation meals drink entertaining etc etc and the time that I am not at my desk doing my day job and I had a warning that it had to stop in 2020 so he set me a strict budget for this. Yes, it was costly but was it worth it? Most definitely! But, be careful which ones you attend – do your research and ask others that have attended for their views.

We missed attending the WOW of Family Office Summits in November 2019 https://www.ritossafamilysummits.com/ as we had our own Investor Christmas Party in Mayfair London and the tickets where very expensive. I love Dubai and have great networks of FO, UHNWI through one of my new Team Members Nick Ayton and from attending the Africa/Mena Summit in the Summer 2019.

So, for 2020 we will have our own Investor Events in this space and finish on a high with our Investor Christmas Party 10 December 2020 in London. We have also been asked to host an Investor/Entrepreneur Ibiza Beach Party in the Summer which we are looking at with one of our Partners who owns a hotel there. We are also looking at with Partners to host a Tech Investor Event in Vienna for 2020 as logistically it is a great fit only a drive from Zurich.

Our new partner in this space is London Wealth and we will be working with them on their London Event 20 May 2020 and others throughout 2020. Our Annual London Family Office & High Net Worth Individuals Conference will be held at the Four Seasons on May 20th, 2020 (www.london-wealth.com).

So, what is “right way" to approach, connect with, and work with ultra-wealthy private investors is changing at a rapid rate today thanks to smartphones, social media, and technology innovation overall. Indeed, I speak directly with my Family Office’UHNWI via WhatsApp – it went from FB/Messenger and Skype/email to LinkedIn. I can get across an Investment proposition as a Teaser within minutes anywhere in the World with a rapid response as these people travel and are in the air most of the time or in meetings.

Since successful entrepreneurs are used to being in control, most self-made centimillionaires are used to being in that position the moment they become active investors. They often feel a sense of unease or fear around those who manage their assets, and they wish they had more transparency. 

Han Jin, the 31-year-old founder and chief executive officer of Lucid, a 3-D photo start-up.

Jin said he has been approached by Charles Schwab Corp. and Morgan Stanley, among others, about their wealth-management services. After meeting with them and another family office, he decided to just use phone apps for now.

“It feels more in control -- at least for Silicon Valley entrepreneurs who are very techy,” Jin said, adding that he has four or five apps that he uses for managing his money.

Balance Sheets

Jin said that as he gets wealthier -- he’s worth a couple million dollars now -- he’ll likely turn to a wealth manager for help, but will probably work with a smaller boutique firm first.

I met with a 5th generation for coffee in London before Christmas in London in Mayfair to discuss now working with him as he was taking the lead. He looked 12 and was probably 23 and was very polite and from an Indian FO. He advised me that he only wanted to review deal flow his sweet spot electric vehicles and for his family Retail, food and beverages and Fashion.

 At the same time, most people realize that to scale and get things done, you need to find the best professionals to trust. This leads to a preference to invest directly into companies that are relevant to their expertise and a preference for independent sponsors over investment fund managers. 

I listen carefully and observe what Investors what to view in particular FO/UHNWI’s I try not to waste their time though sometimes I don’t always get it right as they surprise me with what they invest in. Family Offices those who have the title of example Chief Investment Officer’ are now the 4th/5th generation of Family Offices and are very tech savvy so not only have they had the very best education in the world that their money can buy but they know this space. Hence, the Portfolios’ of FO’s are becoming more diverse. I am not saying that Assets is still not high on the Agenda, but they even are looking at Bitcoin, Crypto and Block chain. I have seen a return to investing in sustainable projects and a heavy return to Philanthropy particularly as topics like ‘climate change’ are high on the Agenda.

Supporting this trend is research from a Knight Frank Wealth Report showing that 92% of ultra-wealthy investors surveyed have started to take more active control over their wealth over the past 10 years. This has only been made more possible due to emerging investment platforms and virtual family offices. 

So due to an increased desire to invest independently and with more control, standing out, building an effective public relation and marketing campaign that is relevant is also very important to making a wealthy individual or family feel comfortable working with you. 

Even on the topic of social media, a recent study we quote at our Private Investor Advantage Workshops was done by Broadridge Financial Solutions showed that a follow or a "like" from their advisor could be beneficial to improving engagement and rapport with clients and they are open to it. 

The majority of millennial (89%) and Gen X (59%) investors say they appreciate connecting with their financial advisors on social media. In comparison, only 19% of baby boomers felt comfortable with having their advisors follow their social media activity but at the same time are also the least likely to use these channels of communication. 

This is critically important as these changes have taken effect only in the last decade and we can only imagine what the next decade will have in store for the way we conduct business, do due-diligence, build trust, and market ourselves as someone worth listening to. 

Today, everyone should stay up to date to emerging trends in marketing and branding in the ever-growing transparent and interconnected world. 

Though, at Events we have learned not  to have NAME BADGES any more as our Investors don’t like this and don’t forget these new Millennials or Gen X Investors have teams of Support around them and in most Family Offices if a Project is liked by the decision maker it goes through at least 3 round of DD then back to the Lead then to the Board. Though I find their process in structured FO’s very quick on turnaround average 3- 6 months as opposed to VC can be as much as 6-9 months.

PREDICTIONS 2020

2020 looks set to be a year of solid expansion in the global wealth population and their respective wealth. This follows a very strong, but somewhat unanticipated performance in 2019, largely of the back of substantial gains in the equities market. The outlook for the wealthy improved over the last few months of 2019 yet worries remain over climate change and trade wars.

HARRY AND MEGAN

I do not approve on the way they structured this deal with the Queen, but it is their choice in life, and I wish them well. https://fortune-com.cdn.ampproject.org/c/s/fortune.com/2020/01/16/meghan-harry-royal-family-business/amp/

I have noted at a Family Office Summit I attended in London in Sep 2019 that there was a lot of debate and discussion over families falling out and many FO’s now have Relationship Counsellors and Psychologists supporting rifts and sibling rivalry. Maybe that is my new role in 2021?

We would love to hear your questions and comments on this topic. [email protected] www.gateway2enterprise.co.uk WhatsApp 44 07939164110