“ Education is 100 % the key to getting more people financially engaged ”
YUMIKA BREWSTER COO , FINIMIZE not an abstract hobby . The purpose is to achieve something real like retiring comfortably , paying off a mortgage or funding their kids ' university fees . A large part of what our coaching team does is help educate customers on how to become better investors . They provide knowledge , hints and nudges so they can be more confident in their approach . This also helps avoid common mistakes like overreacting to short-term market noise or buying investments that have been tipped in the media without having an overall strategy or taking an inappropriate level of risk .”
Will algorithms and roboadvisors replace humans ? As we look towards the future of retail investing platforms , it seems inevitable that the advancement of technology will continue to change how , and where , we invest . But will the investing space become a race to the bottom ? Where , once , asset management firms clamoured to have the best human investment manager , will investing fintechs race to develop the most accurate algorithm or jostle to create the best-performing robo-advisor ?
HSBC , for one , doesn ’ t think so . In the UK , the bank has launched a live chat function as part of its existing advice service , called My Investment . The aim is to allow users to have on-screen conversations with ‘ wealth engagement officers ’, who are specially trained in discussing issues related to wealth management