April 6, 2022
3 market trends + 3 startup opportunities:
Family offices exist to help high-net-worth individuals (ie. $100 million+ in liquid assets) manage, preserve, and grow wealth. They help clients to establish an in-house team of experts to support their financial and personal needs.
Affluent individuals and influential families with vast fortunes seek private wealth managers for financial management, investment advisory, charity planning, tax strategy, accounting, and estate planning.
The rise of digitization opens up tremendous opportunities for virtual family offices. This means digitizing financial services delivery, portfolio management, investment planning, financial reporting, etc.
As wealth creation continues to develop in the younger generations (non-generational wealth holders), digital family offices will become more accessible for a broader range of wealthy and successful families, not just favoring the ultra-wealthy.
With equity crowdfunding platforms, individuals and even unaccredited investors will get a chance to invest their money in alternative asset classes (i.e. other than typical cash, stocks, and bonds).
For example, real estate crowdfunding. Companies like CrowdStreet, Fundrise, PeerStreet, and DiversifyFund (starting with as little as $500) are invented to connect investors with commercial real estate projects.
AngelList and Microventures allow individuals to access startup investments. Investors get paid based on the equity percentage they owned in the companies they have invested in.
Republic allows everyday investors to access a marketplace of alternative assets — startups, real estate, video games, and crypto.
Create solutions to help everyday individuals to own alternative asset classes. Provide due diligence and vehicles to diversify their portfolios.
Traditional pharmacy retailers are facing high competition and reduced margins, thus can’t afford to compete on the lower-cost value proposition.
Whereas D2C online healthcare brands are gaining popularity due to niche-focused ailments, personalized approach, and eliminate middlemen to ship their products at a lower cost.
Accessing diagnosis, prescriptions, clinical appointments, medications, and physicians are going digital.
Cove provides online treatment for migraine patients. Parsley Health provides online healthcare for patients with chronic conditions.
Without in-person visits, telehealth startups help eliminate social stigma for obtaining prescriptions related to sexual health (Roman, Rory) and hair loss (Keeps, Hims, Hers).
Create D2C brands for wellness focusing on the human potential and performance of knowledge professionals.
Create a virtual operating system to help traditional family offices digitize their operations for clients. A platform that contains a suite of tools to help clients manage investment projects, financial tracking, portfolio management, contracting, advisory & collaboration.
(1) Industries: Finance Management, Wealth Management, SaaS, Software
(2) Business model: Subscription
(3) Market potential: ◼️◼️◼️◼️◻️ (1) Significant growth in private wealth has created 12,000–15,000 new family offices around the world.
(4) Execution strategy:(1) Start by identifying repetitive processes of running family offices and automating these workflows for potential clients.
(5) Moat: (1) Private wealth clients are highly concerned about data breaches, security, and privacy. Software providers who can provide data privacy & protection at the core will win the trust of family offices.
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