What's New In Investments, Funds? – Family Office Networks, Richr

Editorial Staff

10 January 2023

Family Office Networks, Bonaventure
Bonaventure, an asset manager that concentrates on developing, building and managing multi-family communities in the Mid-Atlantic and Southeastern regions, is partnering with Family Office Networks.

The arrangement will bring Bonaventure’s real estate offerings to FON’s subscriber base of over 10,000 global family offices, Bonaventure said.

The partnership will also give Bonaventure access to FON’s full suite of media, marketing, events, technology and service capabilities.

Bonaventure, which is based in Alexandria, Virginia was founded in 1999. It has more than $3 billion of assets under management, and manages more than 6,000 apartment units across 35 communities.

Richr
US homeownership platform Richr has launched a wealth management advisory service for home sellers to invest proceeds when a sale is completed.

Richr Money enables home sellers to invest the capital directly out of escrow into stocks, bonds and other financial products, Richr said in a statement yesterday.

The move highlights how technology is developing to help individuals shift from bricks-and-mortar assets into liquid securities at a time of large intergenerational wealth transfer and a desire to redeploy capital more efficiently.

Richr Money is working with DriveWealth, the global fintech investment group and developer of fractional equities trading.

“For the first time ever in the US, consumers selling their homes, who aren’t intending on re-purchasing, have a wealth management solution to reinvest their capital while inflation is at its highest,” Glenn Orgin, Richr CEO, said. “At closing, consumers selling their home receive the largest amount of capital they will ever receive in one lump sum, and Richr allows them to invest their capital directly out of escrow into a variety of investments without having to involve a third-party.”

Other parts of the suite of Richr offerings include Richr Homes, which allows home sellers to sell their homes by cutting out traditional estate agents, and Richr Title, which enables sellers to close house sales remotely and efficiently.

The Richr business, based in Florida, has operated since 2019.