Asia Pacific Family Investment Conference 2014Posted on
The firm were very proud to be invited to speak at Campden Wealth’s Asia Pacific Family Investment Conference in Singapore last week (22nd May 2014). The event explored and discussed issues facing family offices in the Asia Pacific area. We were invited to discuss the modern challenges posed to families, across the generations, in protecting reputations in the digital age. The session focused on 3 factors:
- The Fleet Street Legacy
- The Californian Spirit
- The Worldwide Library
The new power of the British press comes from its online performance – with newspapers such as the Guardian, the Telegraph, and particularly the Mail, holding a significant influence over online searches in the English language. With the MailOnline currently the most read English language website in the world that newspaper’s output, for good or for bad, is heavily influential in the online age.
Newspapers themselves enjoy the Californian Spirit, regularly publishing stories lifted directly from Twitter, Facebook and Instagram. The habits developed on these websites and Apps mean the ground for stories from social media is fertile. As family offices wrestle with the continued desire for privacy and understated success of the older generation (the digital immigrants) versus the passion for instant communication and information sharing of the newest generation (the digital natives) the view offered by our firm is that conversation and education is crucial – both ways.
The digital native generation needs to understand how accessible, and findable, their private information becomes when it is placed online without checks and guards. Equally, the digital immigrant generation needs to accept that the digital age is upon us – strategic decisions can be made and defensive measures put in place but not absolutely every aspect of the family’s business can be kept private. The Google worldwide library is here to stay and will only grow. The key is to sensibly and discreetly make sure that the library is fair and accurate. The key to any successful business, individual or family is to Audit and Act. Know what is publicly available and then take a strategic decision about what can be removed and what other tools can help an online reputation be a good one.