I've been ill today, so this is late. I don't know if I'll be able to make any sense out of hot topics, dear reader(s). 'What?' Hot topics. 'What's that, boss?' Listen, don't give me a hard time, Voice. Please. I'm not in the mood, all right?
Hot topics such as Artificial Intelligence, the future generation of clients and investing in times of populism were on the agenda for the inaugural PIMFA1 Annual Summit yesterday.
Uh ... not yesterday, not Sunday. I received this email last week, so ... 'They're lying!' They're not lying, idiot!
PIMFA, the leading trade association for the personal investment management and financial advice sector in the UK, launched in June 2017 as the result of a merger between the Association of Professional Financial Advisers (APFA) and the Wealth Management Association (WMA).
Yeah, I remember writing about it. They unified their belts. It's a much better thing for boxing fans.
The Summit offered delegates an opportunity to hear from multiple industry panels and expert keynotes. Breakout sessions dealt with topics such as 'dealing with effective management of the Bond Portfolios', 'the Platform Revolution' and the 'effect of Artificial Intelligence (A.I) in our marketplace' highlighting that recently the industry has witnessed in excess of 800 full or part-funded start-ups in the last two years and over $800 million spent on acquiring of some of these by big players. Wendy Spires, Global Head of Research at WealthBriefing summarized saying "A.I. is already revolutionizing virtually every aspect of modern life and financial services is no exception. Even in the rarefied, high-tech world of wealth management, firms are waking up to the possibilities represented by A.I assisted decision-making and intelligent automation to improve the client experience".
Oh, improve the client experience? Maybe. Maybe not. I was reading in the Guardian last night about killer robots. It's hardly an improvement if all your clients have been wiped out by Skynet. But I wouldn't expect our Wendy to consider that.
Following this was a panel discussion on 'Millennials to Gen Z' where the panellists from Barclays, Investec and Hardy London discussed perspectives on the industry's future clients and the mentality of these generations. It further debated the industry changes needed in order to better serve this new cohort of investors and how our industry can best engage with them going forward. Markus Ruetimann, Chief Executive at Hardy London Limited highlighted how it is "increasingly important to tell an investment story rather than simply sell product".
Tell a story?! For Christ's sake! That's the problem with clients these days. They have such silly demands. Oh, I'll buy from you. I promise I will. But tell me a nice story first. Then we can do business. FFS! Grow up, idiots! / Maybe those killer robots aren't such a bad thing after all ...
Alberto Gallo, Head of Global Macro Strategies for Algebris Investments then led a session discussing the problems of investment in times of populism in politics and how these can best be dealt with.
Any relation to Joey Gallo? 'Joey, Joey, king of the streets, child of clay. Joey, Joey, what made them want to come and blow you away?’ No, I don't think so, Voice.
The last keynote for the day, Lord Dobbs, well known as the author of House of Cards, then entertained the audience with a host of political anecdotes and insightful comments on the future.
Ha! There is no future.
The conference was brought to a close by PIMFA Chairman, the Rt. Hon. Lord Deben who concluded by saying "PIMFA gives the voice to our now-united industry which deserves to be heard - above all, the young of today need to be looked after better".
Well, I'll believe it when I see it. The young of today are being shafted by Brexit. Every day the situation gets worse, yet Theresa May and her government move closer and closer to the cliff edge. It must have been like this at Waco. The people following David Koresh must have known he was crazy. But they couldn't stop him. Or they couldn't stop themselves.
...
Anything else? No. I'm still not feeling great, so laters.
Hot topics such as Artificial Intelligence, the future generation of clients and investing in times of populism were on the agenda for the inaugural PIMFA1 Annual Summit yesterday.
Uh ... not yesterday, not Sunday. I received this email last week, so ... 'They're lying!' They're not lying, idiot!
PIMFA, the leading trade association for the personal investment management and financial advice sector in the UK, launched in June 2017 as the result of a merger between the Association of Professional Financial Advisers (APFA) and the Wealth Management Association (WMA).
Yeah, I remember writing about it. They unified their belts. It's a much better thing for boxing fans.
The Summit offered delegates an opportunity to hear from multiple industry panels and expert keynotes. Breakout sessions dealt with topics such as 'dealing with effective management of the Bond Portfolios', 'the Platform Revolution' and the 'effect of Artificial Intelligence (A.I) in our marketplace' highlighting that recently the industry has witnessed in excess of 800 full or part-funded start-ups in the last two years and over $800 million spent on acquiring of some of these by big players. Wendy Spires, Global Head of Research at WealthBriefing summarized saying "A.I. is already revolutionizing virtually every aspect of modern life and financial services is no exception. Even in the rarefied, high-tech world of wealth management, firms are waking up to the possibilities represented by A.I assisted decision-making and intelligent automation to improve the client experience".
Oh, improve the client experience? Maybe. Maybe not. I was reading in the Guardian last night about killer robots. It's hardly an improvement if all your clients have been wiped out by Skynet. But I wouldn't expect our Wendy to consider that.
Following this was a panel discussion on 'Millennials to Gen Z' where the panellists from Barclays, Investec and Hardy London discussed perspectives on the industry's future clients and the mentality of these generations. It further debated the industry changes needed in order to better serve this new cohort of investors and how our industry can best engage with them going forward. Markus Ruetimann, Chief Executive at Hardy London Limited highlighted how it is "increasingly important to tell an investment story rather than simply sell product".
Tell a story?! For Christ's sake! That's the problem with clients these days. They have such silly demands. Oh, I'll buy from you. I promise I will. But tell me a nice story first. Then we can do business. FFS! Grow up, idiots! / Maybe those killer robots aren't such a bad thing after all ...
Alberto Gallo, Head of Global Macro Strategies for Algebris Investments then led a session discussing the problems of investment in times of populism in politics and how these can best be dealt with.
Any relation to Joey Gallo? 'Joey, Joey, king of the streets, child of clay. Joey, Joey, what made them want to come and blow you away?’ No, I don't think so, Voice.
The last keynote for the day, Lord Dobbs, well known as the author of House of Cards, then entertained the audience with a host of political anecdotes and insightful comments on the future.
Ha! There is no future.
The conference was brought to a close by PIMFA Chairman, the Rt. Hon. Lord Deben who concluded by saying "PIMFA gives the voice to our now-united industry which deserves to be heard - above all, the young of today need to be looked after better".
Well, I'll believe it when I see it. The young of today are being shafted by Brexit. Every day the situation gets worse, yet Theresa May and her government move closer and closer to the cliff edge. It must have been like this at Waco. The people following David Koresh must have known he was crazy. But they couldn't stop him. Or they couldn't stop themselves.
...
Anything else? No. I'm still not feeling great, so laters.
