That’s sounds exciting. I hadn’t expected to come so close with that guess.
I notice particularly that younger investors already enjoy obtaining investing ideas and coaching from social media and the community discussion pages of fintechs/wealthtechs like Trading 212. A Netflix-style pricing model for advice would be in similar spirit. Next generation investors are unlikely to be attracted to Hargreaves Lansdown pricing or Rathbones/Schroders/St James Place Wealth management products.
The McKinsey report talks of shift of focus from being investment managers to being “more like integrated life/wealth coaches who advise clients on investments, banking, health care, protection, taxes, estate, and financial wellness needs more broadly.” It will be a challenge to find ways to combine DIY low cost investing with opportunities for some personalised coaching.
I’ve noticed from comments in this community that there is a hunger for help with some basic things that investors need to know if they are to do a decent job of growing wealth- such as aspects of how tax works, how dividends work, accumulating vs distributing ETFs, portfolio structure, risk management, diversification, a source of data about companies that they can use to research investments, the characteristics of different types of investment vehicle.
@Ivan Are you thinking further than simply some new version of robo-investing or trading bot?