As options have increased for buyers the complexity of these resources has increased as well.
Within this article we are going to examine exactly why these directory resources are so popular:
- FOs are hard to get in touch with and contact so obtaining a list or database of their contact details can save a team hundreds of hours of building this data source up themselves
- FOs run between $100M and $1B typically so if you can develop relationships with just 3-4 of them and you offer something they would like to invest in you could do very well for yourself and raise a lot of capital
- Most FOs don't want to be badgered they are busy like everyone else.
By using a directory however you can send them information in multiple forms through mail, email, fax, or phone or customize your approach as they request to custom fit their needs and preferences for communications.
- There is increasing competition to raise assets from FOs so the more efficient, seamless, and effective your marketing can be the better
- The last reason that these resources have become popular is that during recessions and shaky economic times portfolios get re-arranged and everyone is looking for new ways to protect their capital.
This means new potential business for those looking to raise capital from family offices.
More wealth management firms are converting into FOs now than ever before and the industry is growing in size every year in every part of the world.
We don't see this trend slowing down at all in the next 10 years.