The Competitive Advantages of Multi-Family Offices over Banks in Serving Wealthy Clients in Poland

Keywords: Banking sector, Competitive advantages, Services for wealthy clients, Ultra high net worth individuals, Wealth, Multi-family office

Abstract

In Poland, the main players in serving wealthy clients are banks. Nevertheless, the number of multi-family offices (MFOs) has increased notably, raising questions whether they can become real competitors to the private banking divisions. Therefore, an analysis of the activity profile of multi-family offices and private banking in Poland was conducted. Additionally, a survey of multi-family offices enabled the evaluation of their perceived competitive positions. The level of development of MFOs in Poland is low and their market is in its infancy. MFOs operating in Poland are, however, considerably more flexible than banks operating in the field of private banking.

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Published
2021-11-17
How to Cite
Kozinska, M. (2021). The Competitive Advantages of Multi-Family Offices over Banks in Serving Wealthy Clients in Poland. European Journal of Family Business, 11(2). https://doi.org/10.24310/ejfbejfb.v11i2.11961
Section
Research Paper