Shifting Paradigms: How family offices are embracing technology and AI to navigate evolving wealth management landscapes

3 key takeaways from iPEM Wealth, Cannes

The recent iPEM Wealth Conference in Cannes, 3rd – 5th February, offered a timely snapshot of how family offices and private wealth firms are navigating a period of significant change. 

Emerging from conversations was a clear sense that operational foundations and infrastructure are now just as important as investment strategy, particularly as portfolios grow more complex and expectations continue to rise. 

On the ground, three key themes stood out:

AI ambition is rising, but foundations are still catching up

AI remained one of the most prominent topics featured in discussions. Appetite and ambition continue to grow, with many firms exploring how technology can support better investment decisions, improve efficiency, and reduce the burden of manual work.

The interest is there. At the same time, however, discussions highlighted a familiar challenge. Many wealth managers still operate with relatively simple technology foundations, often relying on spreadsheets and fragmented workflows to manage alternative investment data. Cost, disruption, and perceived complexity remain key barriers to change, particularly for lean teams.

What became clear is that enthusiasm for AI alone is not enough. Without reliable data, automated collection, and consistent validation, advanced tools are difficult to deploy in a scalable or sustainable way. As private market allocations grow, the volume of documents and data points continues to increase, placing further pressure on stretched teams.

There is growing recognition that stronger AI foundations can help shift this balance. By automating the most time-intensive parts of the alternatives data lifecycle, firms can reduce operational drag and improve data confidence, enabling teams to focus on insight, decision-making, and long-term value creation rather than manual processing.

Europe is moving back into focus

Against a shifting macroeconomic backdrop, Europe is clearly re-emerging as a region of genuine opportunity for private wealth allocators. Conversations reflected a renewed interest in European markets, with a number of firms reassessing their geographic approach and exploring where the most compelling risk-adjusted opportunities lie.

For private wealth firms, this renewed focus brings its own operational implications. Expanding into new geographies means engaging with a broader set of GPs, fund structures, and document formats, all of which adds complexity to an already demanding data management environment. 

As allocations diversify across borders, having the infrastructure to consolidate, standardise, and act on that data efficiently becomes increasingly important.

The next generation is raising expectations

The family office landscape in particular is undergoing significant change. As millennials begin to take a more active role in managing and inheriting family wealth, the expectations they bring with them are markedly different from those of previous generations.

Raised in a world of real-time data, intuitive interfaces, and on-demand reporting, the next generation of family office leaders are less tolerant of onerous manual processes and information delays.

This shift is already influencing how family offices think about their technology capabilities. Where, in the past, quarterly updates and heavy workflows were accepted as the norm, younger executives are increasingly demanding greater transparency, faster access to portfolio data, and tools that reflect the digital standards they experience elsewhere in their lives.

For firms looking to retain and serve the next generation effectively, the message is increasingly clear: building advanced technological infrastructure today will play a significant role in shaping success in the years to come. Investing in better data foundations is a decision with long-term consequences, and one that is increasingly difficult to defer.

Looking ahead

The themes that surfaced at iPEM Wealth reflect a broader shift underway within the private markets industry. As allocations to alternatives continue to grow and the investor base diversifies, the operational demands on firms across the ecosystem are intensifying. Technology, data infrastructure, and the ability to scale efficiently can no longer be secondary considerations and will sit at the heart of how firms will differentiate and compete in the years ahead.

Bridging the gap between legacy systems and AI-driven insights starts with clean, automated data. If the themes from Cannes resonate with your current operational challenges, we’d love to share how Canoe is helping family offices solve them.

Get in touch with Christian and Kelley to discuss how Canoe Intelligence can transform your manual workflows.