In|Vest 2016: Innovations in Investing, Saving, and Advice

Gordon Hui
June 24, 2016

Last week, our VP Strategy, Gordon Hui moderated a panel at In|Vest 2016, the leading wealth management conference. Here are our top 3 takeaways from the event:

Millennials: They’re real and they are spectacular

Representing 80 million people and over $9 trillion in assets by 2018, wealth management incumbents are excited to unpack the Millennial opportunity.  The big challenge: Having grown up during the recession, Millennials are especially distrustful of large financial institutions, and only 20% are actually invested in the stock market.  Add in Millennial expectations around mobile first, digitally native experiences, and the wealth management industry has significant innovation and experience design hurdles to overcome.

Responding to the Roboadvisor challenge

As companies like Wealthfront and Betterment have increasingly captured the hearts, minds and dollars of Millennials and the Mass Affluent, wealth management companies and investment advisors are trying to create a meaningful response. ETRADE announced its new Adaptive Portfolio offering a couple of weeks ago and FutureAdvisor discussed its acquisition by BlackRock, while white label intermediaries have emerged to help smaller wealth advisory firms enable robo-advisory capabilities.  As the market evolves, we will undoubtedly see more blended solutions that combine robo-advisory elements with “flesh and blood” advisors.

Conversational commerce is coming

As predicted by Uber’s Chris Messina, conversational commerce—messaging, chat, and voice platforms that allow people to connect to bots, people, and services—has become a source of great excitement, including for people in the wealth management industry. Capital One has already partnered with Amazon Echo so that customers perform basic retail banking activities through voice based commands. Applying similar technologies for wealth management in a way that truly innovates the experience is not far behind.