September 30, 2022

Technology and the Family Office: Optimize Your Time

Technology and the Family Office: Optimize Your Time

Time is, arguably, our most precious asset. We invented it, can’t stop it, and can’t seem to get enough of it, especially while running or leading a single-family office. So, as the matriarch or patriarch of a high-net-worth family leading a single-family office, how can you and your family save valuable time down the road?

We would argue that you shouldn’t even be saving or spending time but optimizing and investing it. As Stephen R. Covey stated, “the key is in not spending time but investing it.” In yourself, your business, and, most importantly, your family.

Recently, a Family Wealth Report article explored the topic of how to overcome tech shyness and utilize modern digital tools to allow you to invest your time outside of the tedious, mundane tasks that can be overly time-consuming.

Tom Burroughes mentions, “The industry has a challenge. According to a research study from Family Wealth Report in 2019, FOs waste huge chunks of the working week on manual workarounds as they struggle along with generic software for accounting and investment analysis.”

While the article primarily focuses on how family offices should be moving on from the inefficient “tools of the 90s” for accounting and investment, the same holds true for connecting all the pieces of comprehensive estate planning. Google Drive, Dropbox, or Excel are simply not built to provide a holistic, interconnected source of information for a family enterprise.

How do you capture the values, purpose, and decision-making behind creating the family’s trust and enterprise structure while addressing all the mundane but essential information that family members might need to access or understand?

How do you capture the values, purpose, and decision-making behind creating the family’s trust and enterprise structure in a spreadsheet while addressing all the mundane but essential information that family members might need to access or understand?

That’s where we fit in.

At leafplanner, we’re not here to sell you on technology or the benefits of modern tools. Instead, we want to show how you and your family can invest and optimize your time by implementing the right tool for the job—moving past your complicated Dropbox file structure or Excel workbooks to create a relational, interconnected family manual—a leafplan.

Doing so optimizes your family’s time, optimizes impact, and allows you to enjoy that precious time doing the things you love to do.

Learn more about how our Founder and Family Office CEO, Josh Kanter, utilized this approach with his own family.

Ready to see how leafplanner can benefit your family? Get in touch with us.

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