Spiking’s view on the future of investment advisory

Yesterday, Spiking represented by Clemen Chiang, CEO, took part in the discussion panel “Will robots soon replace human financial advisors?” organized by SGX Academy within its seminar “Your Guide to Investing in Digital Advisory Companies”.

Before the panel, Joyce Woo, Founder & Chief Executive Officer, Jachin Capital, an independent fund manager with a digital investing platform iAdvisor, shared an overview of the evolving digital advisory landscape, as well as the opportunities and challenges both platforms and users face.

There is a growing need of financial advice, especially after the great financial crisis we’ve been through. However, panel commentators agreed on the fact that today it’s easier to come across identical sales-pushed products than customized investing advice. Where can we find reliable financial advice then?

A part of the answer will certainly be “robots” or “digital advisors” as Joyce Woo put it. As 4 out of 5 commentators are at the head of tech companies offering services to help people investing, they conceded that technology and digital advisors are to play a key role in the future of investing.

Companies are already working on customized digital advisors as Nick Hungerford underlined. Customized digital advisors will be able to offer genuine advice to every investor profiles using data analysis of investors moves on the stock market. The real challenge here for Dominic Morris will be to provide quality advice at low cost.

But, keep in mind that no one can give you a valuable advice (not even a robot) if you don’t know what you want! By recalling us this fact, Spiking’s CEO, Clemen Chiang, underline the importance of knowing who you are before you listen to anyone else.