TrustedFamily, a secure online communications platform, has a clear market strategy: work with the top three business families in every country.
It is approaching 60 clients representing total net wealth of around $110 billion, and last year hired Joachim Vandaele as its first non-founding chief executive to drive growth.
When asked by Family Wealth Report what he has found most interesting about what the firm is doing in the marketplace, Vandaele says with certainty: “It’s the fact clients want this. Families want education on this; they want to educate the next generation about using social media.”
The concept of the product is that it provides a “white label”, customizable social media site, which allows families to create a governance system by sharing items such as reports, meeting minutes and shareholder communications.
It allows rich media reports, so that, for example, younger members of the family could see their parents or uncle and aunts presenting facts about the company or reports on video.
The network can then include council and committee members, family members and other trusted advisors. It is also a legacy tool, acting as an online “vault” for the family tree, official testaments and photographs.