There is a revolution in finance but for most people can’t see it or feel it. There is a lot going on but most of the population don’t notice any change. Yet.
You may have heard of Robo Advice. Open Banking. What is clear, technology will change the way we use money.
Firms like Open Money will develop new ideas; creating new applications for mobile smartphones. Whilst we will end up using these services, especially if the banks elect to cut their branch network, as apps become the tool of communication and action. Yet, one thing does not change. Each of these new companies or service propositions want the power over of your money. The point of open banking is allowing information to be amalgamated. The goal of these firms is to offer their investment propositions. So the basic problem of making the right financial decisions for you will need help and guidance irrespective of technology advances.
Whether you use a private bank, or stockbroker, wealth manager….in every case they are selling their services. Investors need to make sure what they are selling is the right thing for you. Caveat Emptor.
That’s where we come in.