About Virtual Family Offices
Virtual Family Offices also known as a VFO is single family office that uses a greater and more nuanced degree of outsourcing to keep the staff low-cost and flexible, while optimizing these to clients' financial needs. Virtual Family Office offers a more comprehensive and ideal wealth pictures. It manages the desperate and displaced relationships. Virtual family office broadens the traditional family office remit - providing support for managing soft assets like branding or intellectual capital.
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The market for Virtual Family Office is highly competitive with several global as well as local players in the market. The global players are trying various strategies such as service innovation and using various marketing strategies to gain a higher market share. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Virtual Family Offices market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Boston Consulting Group (United states), Coastal Bridge Advisors (United states), Ameriflex Group (United States), HighView Financial Group (Canada), Bessemer Trust ( United states), BNY Mellon Wealth Management (United states), The colony group (United states), DKE, Inc (United States), Eze Castle (United States) and UBS Global Family Office Group (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are The ExecRanks (United States), Oppenheimer (United States) and Anderson (United States).
AMA Research has segmented the market of Global Virtual Family Offices market by Type (Wealth Management and Family Support Services), Application (Large Sized Enterprises, Small Sized Enterprises and Residential) and Region.
On the basis of geography, the market of Virtual Family Offices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Function, the sub-segment i.e. Comprehensive financial planning will boost the Virtual Family Offices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Platform, the sub-segment i.e. Computer will boost the Virtual Family Offices market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Uses of AI in Virtual Family Office and Innovation of New IoT Based Softwares
Market Growth Drivers:
Increasing Multifamily Business Expansion, Demand in Integrated Wealth Advice, Demand in Hiring, interviewing, and selecting outside professional in business and Demand of Quality Wealth Management Among Firms
High Cost Associated with Virtual Family Office, Families’ perception towards losing of control and confidentiality of a Wealth and Risk of Fraudulent Statement Providing
Service Providing Selection Risk, Only Provides Service to above 10 million Dollar net worth firms and Multiple Person Control over Firm’s wealth
Growing Information and Technology Sectors
On 30 April 2020, The Ameriflex Group (TAG) Headquartered In Las Vegas, NV, Recently Announced The Launch Of Ameriflex Premier – Virtual Family Office (VFO). The VFO Was Designed Primarily To Serve HNW Households, Business Owners, And C-Suite Financial-Wellness Demands. The VFO Is Perfectly Suited For The Client That Wants An All-Encompassing View Of Their Wealth And The Management Of "Their Financial World."
Key Target AudienceVirtual Family Office, New Entrants and Investors, Venture Capitalists, Government Bodies, Corporate Entities, Government and Private Research Organizations and Others
About ApproachTo evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.