Simple Releases Its Third Annual Family Office & Private Wealth Trend Report

December 21 09:58 2020
Simple Releases Its Third Annual Family Office & Private Wealth Trend Report
With COVID ambiguity and turbulent financial markets, new trends are rocking the financial world. In Simple’s latest Family Office & Private Wealth Trends, they dive in deep to the top trends’ family offices must brace for in 2021.

Copenhagen, Denmark – December 21, 2020 – Simple, the global insights and knowledge platform for private wealth owners and family offices just released its third annual Family Office & Private Wealth trend review. In this year’s review, they explore the 10 most influential trends on the private wealth space – from the increasing distrust of ‘big tech’, to the rise of political geographies. 

Key outtakes this year include: 

  • Cause-washing becomes the new greenwashing: In a year of multiple crises and heightened media attention, social media has shifted the focus to the role the private sector is playing in the mitigation of crises. Corporations everywhere are being measured on the delta of what they say and what they do.
  • The rise of locality changes the real-estate game: Relationships with place have been redefined as 3.9 billion people have been confined to their homes and forbidden from traveling under lockdown. As a result, there are increasing demands for investors to play their part in boosting urban wellbeing post-pandemic.
  • Digital privacy becomes the new gold: Simple currently estimates the UHNWI & family office software market at $8billion. This segment will see above- industry average (13% CAGR) growth as new privacy- and other digital products come online.
  • Activism becomes mainstream through ESG and impact investing: As corporate activism goes mainstream, ESG and impact investing has gained increasing traction in the investment world. Post-pandemic the wealth space has been experiencing its own ‘pandemoment’ – where the crisis is turned into an opportunity to build back better. 

The annual review is led by the Simple’s foresight experts Nicolas Arroyo and Rune Toldam, co-founders and partners of Bespoke, a strategic foresight company based in Copenhagen. 

According to Arroyo: 

“Businesses have to tune in to the bigger conversations happening in our society – from the global pandemic, the climate crisis, to civil rights movements. 2020 has been a year of monumental change, as everything from daily routines and long-term ambitions have been disrupted beyond recognition.” 

According to Simple founder, Francois Botha

“This year we have seen a whole cocktail of emergent factors coming together, which has pushed the overall conversation on responsible business much further. Whilst this whirlwind of a year has been strange – and at times isolating and depressing – we hope that by exploring top trends we have too highlighted what has been galvanizing and inspiring.”   

Investment in tech surges as the world goes digital: 

  • Tech giants such as Amazon, Google, and Facebook have added $163bn to market values over the course of 2020, with no signs of slowing down. COVID-19 and the realities of a remote connection have meant that investment in tech companies has surged  – with internet and media business expected to add almost $375B in growth dollars on a global level by 2024. 
  • From an impact and investment perspective, technology and digital are undeniably a fundamental part of the business landscape. For the private wealth sector, digital has to be both investment strategy and operational setup moving forward. 
  • In the age of pandemic, digital is here to stay. Though big tech is coming under increased scrutiny, it is clear that business models of the future must have digital at the core. 


About Simple:
 

Simple is a next-generation insights lab focused on helping family offices and private investors to professionalize and be future-fit. They publish cutting-edge insights and reviews which are co-created with their global network of experts. 

These insights range from entry-level questions such as “What is a family office” to more specific matters relating to operations, technology, and infrastructure. Their membership platform provides access to this ready-to-use content, as well as their global expert community.

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