Tapestry Associates, a luxury residential property and personal services management consultancy to wealthy families, has partnered with EstateSpace, a fintech company that has developed an asset management platform for families’ physical assets, such as boats, cars, jewelry and collections.
According to EstateSpace, physical assets account for 56% of wealth and 44% of financial wealth across the globe.
Tapestry, which has been a consultant to family offices for the past 10 years, will now be able to use EstateSpace’s technology with its clients, which, it says, will provide more control over physical assets.
"We see our partnership with EstateSpace as the opportunity to change the paradigm for how complex assets are recorded and ultimately managed. Tapestry has long awaited the day where technology would begin to fill this known void," said Judy Boerner-Rule, president of Tapestry Associates, in a statement.