Key Insights from our Inaugural Family Offices Event in Barcelona

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Last week, we held our inaugural Family Office event in Barcelona, a milestone for us and a meaningful step toward fostering a stronger community to share wealth management insights. At Flanks, we believe that knowledge-sharing and connection within our industry are key to making wealth management simple and more accessible.

With that in mind, this first event was designed as an open dialogue—a space for industry leaders to share insights, explore challenges, and discuss the trends shaping the future of wealth management. This time, our focus was on family offices.

In this blog post, we’ll share key highlights from our first event in Barcelona, co-hosted by Lanai Ventures, one of our investors who recognized the potential in Flanks back in 2019, and share the key insights from this remarkable gathering.

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The future of Family Offices and wealth management insights

This Family Office event in Barcelona provided an invaluable opportunity to exchange experiences on investment strategies, business development, and the latest in WealthTech innovation. 

Centred on “Family Offices, Venture Capital, and the Future of Technology in Wealth Management,” the event featured insights from Lluis Clusella, Director of Patrimony and Finance at Edipat, who shared first-hand how technology has transformed his work in wealth management. His perspective, along with contributions from our CEO Quim and Guillermo and Diego, General Partners at Lanai Ventures, enriched the discussion on the role of technology in driving value for family offices.

Among the key topics explored were how artificial intelligence and digitalisation are reshaping the wealth management sector. Panelists discussed the growing demand for in-house talent to manage these technologies, the importance of data accuracy and security in increasingly complex environments, and emerging trends in family offices’ approach to digital transformation. The impact of automation on operational efficiency was also highlighted, demonstrating how these tools enhance decision-making and reporting precision, setting a clear path for the future of the industry.

Wealth management insights from our panel

Our panel discussions and breakout sessions were packed with valuable insights, offering a deep dive into the present and the future of family offices. This gathering brought to light common concerns, shared interests, and key themes that resonated among the participating family offices. 

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Here are some of the standout wealth management insights we discovered together:

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1. What is valued in a tech service provider for Family Offices

Family offices are increasingly seeking independent FinTech service providers who can simplify complex processes while genuinely understanding their financial language—without promoting their specific financial products. This shift reflects a growing demand for efficiency and personalised solutions, as family offices look for services that align precisely with their needs and objectives. Our clients value that they’re partnering with a team that offers not only tech expertise but also extensive private banking experience. As Lluís Clusella, one of our clients, expressed: 

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‘It’s reassuring to see that on the other side, you have not only engineers but a team with private banking experience. When I speak in the language of alternative investment, they immediately understand.’

2. The importance of alternative assets coverage

Multi-Family Offices (MFOs) involved in alternative investments, particularly real estate, face a notable challenge: the need for real-time property updates and accurate market data. Traditional methods of gathering property information—through slow, manual reporting systems and Excel models—are no longer adequate in today’s fast-paced market. Digital and automated solutions are now essential, enabling family offices to make timely decisions based on the most current and reliable data. The shift towards digital transformation in wealth management, especially for alternative investments, is inevitable. 

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3. How digital transformation in wealth management can safeguard business continuity

Digital transformation emerged as a recurring theme, especially in its role as a safeguard for continuity in family office operations. Many family offices still rely on outdated, analogue processes, such as managing data via spreadsheets or paper-based documents. Transitioning from these methods to digital and automated solutions has become a priority across the industry. Digitisation not only enhances operational efficiency but also reduces the risk of knowledge bottlenecks that arise when processes depend on a single individual; as one participant noted, 'only one or two people understanding the spreadsheet logic is a high risk.' In this regard, digital tools can significantly improve business continuity, particularly during generational transitions, and bolster operational resilience.

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4. Manual workload and low-impact tasks

A surprising yet widely shared insight was that up to 70% of manual tasks in wealth management are low-impact. This statistic resonated strongly, highlighting the widespread inefficiencies in the sector today. By automating these low-value, time-consuming tasks, family offices can free up valuable resources to focus on more strategic, high-value activities. Adopting digital transformation in wealth management is no longer a luxury but a necessity, enabling teams to reallocate their time and assets toward more meaningful and productive work.

Certainly, this was not all; there was extensive debate, rich exchanges, and valuable insights that undoubtedly left us keen to continue meeting and exchanging ideas.‍

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What´s next for the Flanks community?

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This first Family Office event is just the beginning. We’re committed to creating more opportunities like this—spaces for open exchange and networking where wealth management leaders can tackle challenges and draw inspiration from best practices among peers, while also seizing new opportunities together. For us, this experience confirmed just how important it is to build a connected community within wealth management, with innovation, collaboration, and accessibility at its heart.

We’re truly grateful to everyone who attended, and we look forward to hosting even more insightful discussions about the future of family offices.

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