Key Trends Redefining Family Office Dynamics in 2024

As we move deeper into 2024, it’s becoming apparent that family offices are on the rise, with private wealth management increasingly being seen as the preferred means of ensuring that one’s wealth and assets can be passed on to future generations.

The growing use of advanced family office software, such as Eton Solutions’ AtlasFive®,  is making it easier than ever before to manage a family office effectively, making these entities some of the most forward-thinking and advanced financial players in the market, not to mention increasingly powerful and influential. With solutions like AtlasFive®, family offices can streamline their operations, remain ahead of market trends through sophisticated AI analytical tools, and better manage investments in everything from traditional to experimental markets with ease.

Increased ESG Investments

More than ever before, family offices are putting their money into sustainable investments that demonstrate responsibility towards environmental, social, and governance (ESG) ideals. Part of the reason for this trend is that, by investing in ESG, family offices can increase their transparency and attract like-minded investors with whom they share values. 

More and more, family offices are being seen as an advisory role for the families whose wealth they manage, guiding them towards more climate-conscious and socially responsible investment choices with good ESG scores.

Greater Concern About Cybersecurity

With technological development marching ever forward and more family offices moving the management of their investments to digital platforms, the threat of cybercrime has become more of a concern.

Family offices that use specialized software packages to manage their wealth and investments are demanding greater degrees of cybersecurity to keep pace with the growing sophistication of cybercriminals. 

Any family office that does not take cybersecurity extremely seriously in 2024 is putting the entire portfolio at risk.

Rising Interest in Digital Assets

Despite their ongoing volatility, home offices are increasingly interested in digital asset investments. Blockchain technology and the cryptocurrency and NFT economies it has spawned have enjoyed a steady rise in popularity among the new generation of high-networth individuals who are less risk-averse than their forebears. 

A growing faith in digital assets has likely been borne out of a break in trust in real-world assets that have been so devastatingly affected by major events over the past decade, from the financial crisis of 2008/09 to the mayhem that was COVID-19.

How Eton Solutions Covers These Trends

The benefits of partnering with Eton Solutions are that our wealth of experience and insight has allowed us to craft a software solution that ensures you’re ahead of the curve every step of the way.

With our AtlasFive® family office management software platform, you can be assured of the best-in-class cybersecurity to ensure your assets are always protected. What’s more, the platform’s highly sophisticated investment management capabilities, with the help of advanced AI, allow you to keep abreast of the volatile digital asset market while also ensuring that your ESG investments are tracking well.

These are just a few of the key trends that are redefining the way family offices operate in 2024. To better manage your family office, contact us at Eton Solutions. We are the proud provider of AtlasFive® and related robust and dependable family office software solutions.