INTRODUCTION
1fs Wealth is an innovative UK WealthTech company set up in 2019. We have grown significantly and launched our full production platform into the rapidly expanding digital wealth market. We have been featured prominently in the press including Bloomberg and the Financial Times for our excellence in delivering wealth management solutions.
Our cutting-edge and secure platform enables wealth owners to consolidate assets, control risk, manage ownership and analyse performance of their complex portfolios and family assets through the efficient use of data and innovative technology.
We deliver the platform through a web browser as well mobile devices featuring the 1fs App, which is a digital family office in your pocket enabling wealth owners to consolidate assets, control risk, manage ownership and analyse performance.
INNOVATE FEATURES
The platform features are extensive and include:
Risk. The platform allows you to analyse the risk both personally and commercially
Succession Planning. Allocate assets to the NextGen, define explicit instructions for asset transfer and disposal. Dynamically adjust your succession planning programme
Global Central Register. Digitalise every real world asset you own and create unique NFT tokens as a representation of assets that you care about
Crypto Friendly. Blockchain based digital register will open up a seamless integration with cryptos and ensure reliable data storage facilitates with full ownership history on the chain
THE PROBLEM
A typical wealth owner has to control many assets which are:
Hard to manage. Many assets are managed by third parties, with central reporting based on spreadsheets, multiple systems and old-fashioned paperwork. Nobody has a bird’s-eye view or immediate access to the detail
Onerous to track. Portfolios are highly diversified and assets globally distributed. Monitoring illiquid investments including homes, yachts, wine and artwork is particularly challenging
Difficult to assess risk. It is impossible to have an accurate view of valuation and risk without continuous live evaluation of relevant data
THE SOLUTION
The 1fs Wealth platform allows users to:
View their entire portfolio in one platform. Securely document, record, index, view and share information on assets classes including liquids, real estate, illiquids and collectables, manually or through APIs
Collaborate. Create roles and secure collaboration groups (family members across generations, team, outside advisors) and jointly view and manage the portfolio on the platform in real time
Analyse their data. Applying AI, Machine Learning and Natural Language Processing including sentiment analysis. FirstWealth provides the tools to measure performance against targets, peers and the industry to enable optimisation
Make informed decisions. Detailed insights into asset-tracking, real-time valuations, risk and drill-down capabilities including SPVs, trusts, individual assets and Environmental, Social & Corporate Governance (’ESG’)
STORY TELLING
Imagine being able to view your equities with automatic price updates, all your cash balances across all bank accounts, monitor your real estate projects and approve stage payments for construction work, all your art and other collectibles and instantly access any document or photograph. Now layer upon this, the ability to receive automatic alerts about insurance policies lapsing in a timely fashion, being able to allocate assets to family members in conjunction with your will and trust documents (also held on the platform), being able to assess the sustainability score for your portfolio, being able to determine future cash liabilities and tax liabilities including inheritance tax.
TRACTION
We have already proven this model as we have B2B clients that include several prominent UK billionaire families, a large Swiss wealth manager and a prominent multifamily office.
FUTURE POTENTIAL
The potential of the product is huge as there is an enormous global underserved market that will continue to grow and scale in the next 10 years. We anticipate the total addressable market size to be £380 billion – £720 billion, this represents the size of the mass affluent, high net worth, ultra-high net worth, family offices and white label markets. It is predicted that 17 trillion dollars will be transferring from generation to generation over the next decade. The NextGens are demanding a technology solution as opposed to spreadsheets, lever-arch folders and filing cabinets dispersed all over the world.
POWER OF USABILITY
The 1fs platform has a number of innovative solutions wrapped up in one product, the power of which multiplies when used side by side within the management of the portfolio. These include a curated news feed which pools together the most relevant articles from the most trusted sources directly into the interface. Our platform also has a profoundly effective module that brings clarity to succession planning in ways that are not replicated elsewhere in the market. We allow for beneficiaries to be clearly defined and the platform will highlight which successor will inherit which asset therefore helping to identify any potential imbalances. And finally, our ESG and philanthropy modules serve to be highly inventive tools in what has previously been a somewhat neglected area of wealth management. We apply intelligent sustainability scores to each asset and allow our clients to monitor their ESG compliance over the years. As an extension of this, the philanthropy module measures the clients donations against the 17 UN sustainable development goals. This innovative solution allows our clients to visualise exactly where their donations are making the most impact within the wider context of the portfolio.
THE FUTURE: NEXT STEPS
We feel that we represent the new wave of wealth technology revolutionising the way in which both young and old wealth owners think about controlling their wealth which is such a fundamental part of life. Most people including the very wealthy tend to be stressed about their wealth and consequently it has ramifications on their health and overall well being. 1fs Wealth has already proven that our platform allows wealth owners to manage their wealth and overall lives efficiently.
