Will Financial Advisers be replaced by the crowd, and how does technology change the way Gen-Y’s plan investment and saving?
December 5, 2013
Hosted by Brett King
Financial Advisers emerged in the US in the 1970s, but hit their stride in the 1980s with new professional designations, associations and regulation emerging to create an industry that is just over 300,000 persons strong. The US alone manages more than $13 Trillion in Assets under Management (AuM) in Mutual Funds, and the US Stock Market has close to $20 Trillion in Aum. But investor behavior is changing. The number of financial advisers in the US shrank by almost 2% last year, as more an more people use technology, investment tools and platforms and seek advice from less traditional sources. And then we have Gen-Y… This group looks for advice on investments, on savings and on financial products in a very different way. Blogs, collaboration tools, even YouTube videos increasingly are part of their reference point before making an investment decision. In this week’s show we talk to three experts in the personal financial advice and personal financial management space who are actively involved with the 20-30 year old investor, and have seen significant shifts in the way they plan, save and invest. Ashley Jacobs is the community coordinator, social media editor, and the college finance writer for http://www.wisebread.com. Lou Carlozo, based in Chicago, is a personal finance contributor for Reuters Money, a columnist with DealNews.com, and a primary contributor at Money Under 30. Mary Beth Storjohann, CFP®, is the Founder of Workable Wealth and works as a writer, speaker and financial coach for individuals and couples in their 20s and 30s http://workablewealth.com. Join this unique group as they discuss the future of financial advice powered by social, mobile and collaboration.
Breaking Banks Fintech
Thursday at 12 Noon Pacific Time on VoiceAmerica Business Channel
Breaking Banks is the number 1 global fintech radio show and podcast. Every week we explore the personalities, startups, innovators, and industry players driving disruption in financial services, from Incumbents to unicorns, and from the latest cutting edge technology to the people are using it to help to create a more innovative, inclusive and healthy financial future.
We are living in a time of the most dramatic technological advancements in history, and we are telling the stories behind that change, with a focus on the implications of what it all means for industry incumbents and insurgents, the people, the consumers, the markets, and the very nature of banking and money itself.
Listen every Thursday at 3 PM Eastern Time, Noon Pacific on the VoiceAmerica Business Channel.
Brett King is a three times bestselling author, well-known futurist and speaker, and founder of a breakout new retail banking and lifestyle concept "Moven.” King was voted as American Banker's Innovator of the Year in 2012, and was nominated by Bank Innovation as one of the Top 10 "coolest brands in banking.” King has been featured on CNBC, Bloomberg, BBC, Financial Times, The Economist, The Asian Banker Journal, The Banker, Wired magazine and many more. He contributes regularly as a blogger on Huffington Post.
King initially achieved recognition for his bestselling book BANK 2.0, which received widespread industry acclaim and topped category lists in the UK, USA, Germany, Japan, Canada, France Russia and Asia. 'Branch Today, Gone Tomorrow' - King's second book achieved bestseller status in its first week on Amazon. His current book BANK 3.0 is currently topping the charts in the US, UK, China, Canada, Germany, Japan and France and has been published in English, Chinese (Simplified/Traditional), Korean, Russian and Polish to-date. He is widely considered the foremost global expert on retail banking innovation today.
As an industry thought leader, King has delivered keynotes at conferences in more than 40 countries for organizations like Google, Forbes, and Oracle. He has served as an international judge for The Asian Banker Retail Banking Excellence Awards, the GSMA Global Mobile Awards, the Middle East Business Achievement and Retail Banking Awards.