Home > Releases > New Paradigms in 21st Century Holistic Wealth Management – An Entrepreneur’s Response to the Top Global Risks and Opportunities

New Paradigms in 21st Century Holistic Wealth Management – An Entrepreneur’s Response to the Top Global Risks and Opportunities

September 20th, 2006

We are entering a new era which requires a new approach to risk and to wealth management. This means that action is required now to create new investment vehicles, new networks to identify and manage risk, and a new and far more engaged version of philanthropy. This will be the message of DK Matai, entrepreneur, philanthropist and pioneer when he speaks on the subject of 21st century holistic wealth management at the annual global family office summit in Geneva, Switzerland, organised by Management Global Information (Suisse) SA.

DK Matai will challenge his audience to play their part in creating new institutions to meet all the needs of the wealthy — all the needs, and not just the traditional ones. DK himself has already co-founded three organisations which are designed to help in this transformation:

mi2g (1995) is The Queen´s Award — for Enterprise in Innovation — winning global risk management business which in turn has led to the development of next generation banking solutions. D2-Banking represents a new paradigm in holistic wealth management, founded in the belief that in the fast changing kaleidoscope of digital standards and equipment, the preservation of individual knowledge, information and data wealth is critical for families now and for generations to come. For example, through the online vaulting of genomic maps and medical records; art, photo, music and video collections; digital messages and personal files including wills, deeds and memoirs; and other intellectual property alongside traditional financial services.

ATCA (2001) — The Asymmetric Threats Contingency Alliance — is a philanthropic expert initiative which conducts collective Socratic dialogue on opportunities and threats arising from the Global Big-10 risks and opportunities. ATCA integrates over 5,000 key decision makers worldwide. Its five years of work has identified the Global Big-10 interlinked risks and opportunities of the 21st century: climate chaos, radical poverty, organised crime, extremism, informatics, nanotechnology, robotics, genetics, artificial intelligence and financial systems.

The Philanthropia (2005) includes The Trinity Club, Syndicates and Ethical Investment Funds — with over 1,000 entrepreneurs, family foundations, private banks, non-governmental organisations and specialist advisors to resolve complex global challenges through collaborative & sustained efforts. The five areas of ethical investment funds for The Philanthropia are clean energy, sustainable technologies, micro-finance, water and eco-friendly infrastructure. The Philanthropia is most concerned about fiduciary responsibility as it affects the family´s wealth, children and future generations.

Summing up his message, DK Matai will say, “Holistic Wealth Management is all about recognising that the sophisticated customers of the 21st century demand peace of mind in all aspects of their lifestyle. They seek a comprehensive solution which integrates their ethical, emotional, economic and expert investment and custody requirements. We are slowly but surely heading towards a new type of financial institution. Those banks and insurance houses that will not adapt will look terribly old fashioned and incomplete in the years to come.”

DK Matai´s work has come to attention of the business-led think tank Tomorrow´s Company, the organisation which recently launched a major business-led inquiry into Tomorrow´s Global Company, and which previously undertook a business-led study “Restoring Trust investment in the twenty first century.” In response to DK Matai´s work Tomorrow´s Company Director Mark Goyder recently commented, “Business is ultimately about meeting the needs of human beings and the planet on which they hope to continue life. DK Matai´s achievement has been to create practical vehicles – both commercial and philanthropic – which are creating and increasing solid wealth based on enduring holistic principles and pioneering methods. He is charting the course for tomorrow´s wealth creation.”

Francois Golbery, CEO, MGI Switzerland, said, “The family office concept is gaining momentum around the world as it provides a framework to sustain the family and its business. Family wealth is not self-sustaining but families have a deep interest in preserving their wealth into the next generation and beyond. This can only be achieved through long-term shared goals and values amongst which social objectives and ethical investments are high on the priority list. The set-up of a family office cannot be reduced to the amount of investable assets and financial institutions therefore need to integrate and understand the family complexities if they wish to build up a long term relationship with wealthy families.”

Robert Bernstein, Founder, PRISM family office, Chicago, and Managing Partner, Heller Bernstein Associates, said, “Many family offices and Multi Family offices tend to be highly regional, owing to the “high touch” demands of family members as well as common tax and other local operating considerations. The risks and opportunities that most affect the preservation of their wealth, however, tend to be far more global in nature, affecting not only their financial capital but their human, ethical and philanthropic capital as well. A well conceived forum of world-renown experts and the opportunity for enlightened networking is the most effective way for these families and their advisers to gain the insights of such universal thinkers and practitioners. The concept of Holistic Wealth Management by DK Matai, Chairman of mi2g, ATCA and The Philanthropia is among the most intriguing.”

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