Single Family Office

Unlock The Full Potential
Of Your Wealth

Friction means opportunities to grow wealth can be overlooked, financial and human resources are wasted, and regulatory and security risks can emerge. iPaladin provides a single, secure space to manage all elements of family business.

What is

Friction?

Friction is a byproduct of a fractured governance framework.

 

Modern family offices comprise of a broad network of professionals and advisors, all employed to assist in the management and maximization of great wealth.

 

To fulfill their duties, these professionals often rely on their own in-house systems and processes. 

 

This creates a situation where family business is being managed across multiple platforms – many of which are not designed to speak to each other  – and where information is stored in disparate locations. This can lead to information silos and data gaps that create operational friction and governance deficits. 

 

As a result, valuable human capital is expended trying to plug operating gaps, diverting time and attention away from added-value activities and increasing the risk of manual errors.

How Friction

Manifests

As family wealth grows, so does complexity. This creates diminishing returns for family offices. More people are needed to manage more complexity at greater costs, the governance deficit increases as information silos emerge, and unnecessary risks enter the ecosystem.

Tackling Friction With

iPaladin's DFO

iPaladin’s Digital Family Office provides a collaboration ecosystem that empowers both professionals and the family, delivering greater clarity, consistency and control over all elements of family business. We call it a Governance-as-a-Service solution.
 
DFO is the bridge between professionals and the family. It sits above the reporting level, capturing all operational knowledge in a single, secure space.
 
Powered by blockchain technology, and built with military-grade security in mind, DFO unites, connects and protects all elements of family business to enhance governance, promote transparency and tackle friction.

Tackling Friction With

iPaladin's DFO

iPaladin’s Digital Family Office provides a collaboration ecosystem that empowers both professionals and the family, delivering greater clarity, consistency and control over all elements of family business. We call it a Governance-as-a-Service solution.
 
DFO is the bridge between professionals and the family. It sits above the reporting level, capturing all operational knowledge in a single, secure space.
 
Powered by blockchain technology and built with military-grade security in mind, DFO unites, connects, and protects all elements of family business to enhance governance, promote transparency and tackle friction.
Friction Graph 1
Friction Graph 2
DFO Graphic

How iPaladin Unlocks
The Potential Of Your Wealth

Reduced Cost

Removing Complexity

Increasing Control

Reduced Cost

Reduced Cost

The cost of risk is impossible to quantify in a private wealth ecosystem. But, friction can be calculated. 

The average family office reports that each team member spends between 48 and 96 minutes addressing friction. That is time that could otherwise be redeployed or diverted to value-add tasks.

 

48 – 96 mins = 10-20% of the average workday.

 

Therefore, the minimum cost of friction to your office is likely to be around 10-20% of your total staffing costs. The real cost, however, could be much higher.

Removing Complexity

Removing Complexity

Complexity was introduced to family offices three decades ago with the creation of LLCs, the evolution of trust law, tax system changes, and proliferation in private asset opportunities. 

 

As family wealth grows, so does the complexity of managing that wealth. The chart below shows the average number of “manual” tasks required as AuM increases. 

 

The average family office handles over 4,000 recurring processes and tasks for every billion dollars under management. Relying on manual processes, these tasks divert time and attention away from value-add activities while also introducing the risk of human error into the ecosystem. 

 

A key question for family offices is how much friction can they tolerate; now and in the future?

AuM Graph

Increasing Control

Increasing Control

Wealthy families are synonymous with power. Whether through the companies that they have built, the investments that they have made, or their broader impact on society, individuals of great wealth are assumed to be all-powerful over the world they survey.

 

But, this may not be the case.

 

When it comes to the management of their wealth, many families find they are forced to relinquish power rather than gain it. The business of complex wealth creates a reliance on networks of advisors, on technology tools that are not designed to speak to each other, and on workflows that promote siloed practices rather than collaboration. Each in turn reduces the level of control and oversight that the family has over its own wealth.

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