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Family Office Management und Covid-19

Author

Listed:
  • Werkmüller, Maximilian A.

    (Allensbach Hoschule Konstanz)

Abstract

Family Offices and their services will reasonably be suffering from impact of Covid-19 pandemic. This applies as well to those offices serving just a single family (Single Family Office, SFO) as to those serving a broader scope of various clients (Multi Family Offices, MFO). From a technical perspective Covid- 19 will foster SFOs to enhance their efforts with regard to the digitalization of their platforms and services; in this respect MFOs are ahead and have earlier and more effectively adapted to the markets’ needs for digital services. In many cases this is attributable to the Family Offices life cycle. Representatives of the founder’s generation are, referring to their age and to the time where they grew up, much less opened to new technologies than their successors who grew up as “digital natives”. The Family Offices are now due to external impact forced to re-adjust such transfers. However, under the premise of professionality a Family Office should anticipate such impact and be respectively prepared. Most of them are.

Suggested Citation

  • Werkmüller, Maximilian A., 2020. "Family Office Management und Covid-19," Zeitschrift für interdisziplinäre ökonomische Forschung, Allensbach Hochschule, issue 1, pages 71-75, December.
    • Handle: RePEc:ris:zfioef:0135
    as

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    More about this item

    Keywords

    Covid-19 impact; Family Office; Family Office Management; Digital Transformation; Digital Disruption;
    All these keywords.

    JEL classification:

    • G00 - Financial Economics - - General - - - General
    • G23 - Financial Economics - - Financial Institutions and Services - - - Non-bank Financial Institutions; Financial Instruments; Institutional Investors
    • G40 - Financial Economics - - Behavioral Finance - - - General

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