• Brick and financial assets:
How to enhance customer assets?

The map of the wealth of Italian families in homes and financial assets, as recently published in "The Economy" of "Il Corriere della Sera", shows an evolution of these two components over the last few years: the value of the properties has been reduced by over 400 billion euros in five years, falling below 5,300 billion. However, this decline was offset by the increase in financial assets, whose value rose to approximately 4.2 trillion, thus making overall wealth stable.

The decline in the brick (according to ISTAT data equal to 15% compared to 2010) is offset by an increase in sales that, for the 11th consecutive quarter, was up, especially regarding the purchase of first homes. The drive from the major cities, which characterized the data of the past years, has also spread to smaller realities. There is a strong demand for real estate consulting.

According to an Aipb survey, 76% of Private customers directly manage their real estate assets, while only 24% rely on external consultants. The survey also shows that 77% of respondents are willing to turn to a bank for real estate consulting services.

The complexity of the current economic and political scenario, increasingly more difficult to decipher and in which those, who were once perceived by the investors as safe and profitable ports, have disappeared, requires a change of paradigm: today Wealth Management companies should have a more global vision of the client's assets therefore go beyond the mere care of its financial wealth by offering an innovative mix of services. In order to do this, on one hand it is necessary to know how to read the client's needs, and on the other hand it is necessary to have a consolidated network of external partners specialized in assets or services complementary to the financial activity. To manage the total assets of a client also means supporting them and guiding them in the choices related to its real estate assets. This is a complex activity that requires strong skills, skilled empathic relational skills and a strong knowledge of the reference market.

For example, in a square like Milan the value of a building for residential use depends, as you can imagine, from a multitude of variables: the area, the housing plan, the exposure to the sun, the general state of the building, the presence of a terrace or a box etc. Often the beliefs of an investor on the value of his property deviate from the real market and, in the case of a sale or a lease, the skills of specialists in the industry can make themselves indispensable in order to make the best choices, optimize fiscally these assets, protect and enhance their assets. Let's not forget that the house, in Italian culture, is a primary asset and the numbers show that this country, compared to the rest of Europe, is the most invested in such asset class. Moreover, thanks to low rates, banks that provide mortgages on attractive terms, flat tax and brexit (which are bringing professionals and capital into our country), the brick is still an important investment and diversification theme, but, as for everything on which one is not an expert, one cannot improvise, and the reduction of risk is possible thanks to the advisory of qualified professionals.