How To Guide

How To Manage Wealth For Your Family

Family wealth management is something many of us struggle with. Not anymore. There is a simple and efficient way to get quality advice & take total control over your family’s investments. You can use Cube Wealth Family Wealth Manager feature.
August 25, 2020

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Family wealth management is something many of us struggle with. We want to manage our family wealth wisely & we care deeply about those whose money we are trying to grow. The tricky part is, we don’t want to make any mistakes by engaging with subpar family wealth management services. We want high-quality advice from proven expert advisors. Unfortunately, not all of us can afford to engage the best advisors in the world nor can we relinquish control of our family wealth.

There is, of course, a way to get quality advice & take total control over your family’s investments. You can use Cube Wealth Family Wealth Manager feature – invest for each family separately & access all accounts using one login.

What is family wealth management?

Family wealth management is an organised and smart way of managing investments for your whole family. This way you can ensure that everyone’s wealth is growing in line with their individual needs. It is also a way of sustaining family wealth and passing it on from one generation to the other. It is great to have one expert advisor to handle the whole family’s wealth. If you need help with managing your family’s wealth smartly you can speak to a Cube Wealth Coach for a free consultation.

Speak to a Cube Wealth Coach

Why manage family wealth?

As mentioned above there are many reasons to manage your family wealth.

- To ensure less financially savvy family members can also grow their wealth
- To ensure family wealth is sustained and goes from one generation to the next
- To grow your family wealth over the long term
- To create an emergency fund for each family member

- To ensure every family member has the right protection & insurances in place
- To ensure each family member is prepared for short-term, medium-term & long-term expenses

The old way of managing family wealth

The traditional way of managing family wealth is for one person to manage the whole family’s wealth. While this is great it used to mean that one person has to keep track of multiple accounts, passwords, portfolios and also keep tracking the status of the money invested across accounts. It also meant finding a trustworthy advisor through family and friends who may or may not have a proven track record. This meant more effort, less safety and higher fear of losses. Many banks tend to allot relationships managers to high-net-worth individuals. These managers usually have their own interest in mind more than the customers. They try to upsell financial products like LICs, ULIPs, low-quality mutual funds etc. All based on what earns them the most revenue.

Why use Cube to manage family wealth?

There are many reasons to use Cube Wealth to manage your family wealth. Here are some benefits of using Cube Wealth’s Family Wealth Manager feature:

  • You can easily manage all family and personal company accounts together - one simple login which is the same as your personal account.
  • You can implement a different investment strategy based on what stage each family member is in. Example: Your parents need a retirement monthly income strategy. You and your spouse may split your strategy where one does short term expenses related investing and the other invests for the long term like retirement or kid’s college.
  • You can quickly view each family member’s portfolio by fast view changes in the app. You no longer have to open multiple tabs, go through multiple logins and steps - just open Cube and switch to the account you want to see.
  • One gorgeous and simple UI that doesn’t need learning for managing everything across your family accounts.
  • One dashboard to track returns and share them with a tap on WhatsApp or email with any family member.
  • One dedicated Wealth Coach from Cube for the whole family - now that really makes sense and sorts your life because you get to use every person’s account to achieve specific goals as one family.

How to use Cube for family wealth management?

Using Cube’s Family Wealth Manager feature is super easy. Watch the video below for more.

Frequently Asked Question on Family Wealth Management

What is a family office?

Family offices are private wealth management service providers. They are usually advisors who work for high-net-worth individuals. Cube makes quality advisors like Wealth First (for mutual fund advisory), Purnartha (for equity advisory) etc. accessible to regular professionals.

How do family offices invest?

Family offices use the family money pool to invest and diversify across assets and asset classes depending on the comfort, risk appetite and goals of the investors. They may invest in stocks, bonds, securities, mutual funds, gold, alternative assets etc. If you don’t have a family office you can access high-quality advisory from experts with proven track records using the Cube Wealth app.

How can we preserve our wealth?

Investing is a great way to preserve your wealth and protect its value from eroding over time due to inflation. It is also a great way to create multiple sources of income. Those who invest smartly earn money through dividends, returns, interest etc.

How do you plan for wealth that lasts for generations?

If you wish to plan for wealth that lasts for generations you must consult a Cube Wealth coach or an expert financial advisor. They will help you plan your family’s portfolio such that your family wealth lasts for generations to come.

Rishabh P Nair
Rishabh P Nair is the Head Of Brand Content at Cube Wealth. Rishabh has been weaving stories for over 10 years and prides himself on building brands with a strong identity.

4 Reasons To Try Our Powerful Investment App!

Schedule a call based on your convenience. And get an expert to help you invest.

  • High Quality Mutual Funds
  • Top Notch Stock Advisory
  • Expert Financial Advisors
  • Alternative Investments

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