Look Ahead to 2019: highlights from our latest event

11 July, 2017

We kicked December off in style at Schroders HQ this week, hosting our festive end-of-year bonanza for industry bigwigs. From hybridising robos to educating the nation, there were tons of big ideas to shape tomorrow's market. But don't fret if you missed out. We've collected up the juicy bits and squeezed out the boring stuff to get you up to date on the things that could affect you.

We peeled back the (iron) curtain on DIY investing

Holly kicked things off with a thoughtful glance back at the evolution of DIY Investing (https://www.boringmoney.co.uk/learn/articles/digital-wealth-is-set-to-grow/). From the emergence of heavyweights such as Hargreaves Lansdown (https://www.boringmoney.co.uk/isas-pensions/hargreaves-lansdown/) and Willis Owen (https://www.boringmoney.co.uk/isas-pensions/willis-owen/)in the 80s, to the avalanche of robos such as Moneybox (https://www.boringmoney.co.uk/isas-pensions/moneybox/) and evestor (https://www.boringmoney.co.uk/isas-pensions/evestor/) today, the market has come a long way. For everyday consumers, it’s easier and clearer than ever to get started and have a go. And as for the UK market itself, we’ve gone from Thatcher Economics to Brexit… with everything that entails (https://www.boringmoney.co.uk/learn/articles/bloody-brexit/)!

- Today we're looking back at #investing2018 (https://twitter.com/hashtag/investing2018?src=hash&ref_src=twsrc%5Etfw) & discussing what 2019 may hold. Here's a graphic from @HollyAMackay (https://twitter.com/HollyAMackay?ref_src=twsrc%5Etfw), tracking the evolution of DIY Investing in UK, all the way from @HLInvest (https://twitter.com/HLInvest?ref_src=twsrc%5Etfw) & @WillisOwenLtd (https://twitter.com/WillisOwenLtd?ref_src=twsrc%5Etfw) to newbies @evestoruk (https://twitter.com/evestoruk?ref_src=twsrc%5Etfw) & @moneyboxteam (https://twitter.com/moneyboxteam?ref_src=twsrc%5Etfw)! #roboinvesting (https://twitter.com/hashtag/roboinvesting?src=hash&ref_src=twsrc%5Etfw)pic.twitter.com/x8buCLWyiM (https://t.co/x8buCLWyiM)

— boringmoney (@boringmoney) December 3, 2018 (https://twitter.com/boringmoney/status/1069608714351624192?ref_src=twsrc%5Etfw)

Your reviews put the market in its place

Thanks to all your consumer reviews (https://www.boringmoney.co.uk/isas-pensions/) we’re able to tell the industry what works and what doesn’t. So who would our readers recommend to new customers? Who delivers the best value? And does anyone have a 100% recommendation rating? Yes, actually…

- Who do our readers recommend most? We're looking back at #investing2018 (https://twitter.com/hashtag/investing2018?src=hash&ref_src=twsrc%5Etfw) this afternoon at @Schroders (https://twitter.com/Schroders?ref_src=twsrc%5Etfw)' new offices & summarising the stars of our 1,500+ reader reviews. Of these providers @HLInvest (https://twitter.com/HLInvest?ref_src=twsrc%5Etfw), @AJBellYouinvest (https://twitter.com/AJBellYouinvest?ref_src=twsrc%5Etfw) & @thenutmegteam (https://twitter.com/thenutmegteam?ref_src=twsrc%5Etfw)score highest amongst platforms with 60+ reviews pic.twitter.com/AQ6mAe9Hdt (https://t.co/AQ6mAe9Hdt)

— boringmoney (@boringmoney) 3 December 2018 (https://twitter.com/boringmoney/status/1069609977030082560?ref_src=twsrc%5Etfw)

If you’ve not left a review yet and want to be heard, spill the beans here (https://www.boringmoney.co.uk/isas-pensions/). Future customers will be forever grateful!

Richard Wilson calls for platforms to focus on beginners

Chief Exec of Interactive Investor (https://www.boringmoney.co.uk/isas-pensions/interactive-investor/), Richard Wilson shared his predictions for customer acquisition in the years to come. Some bold views in our opinion, but probably a bit boring if you’re not a finance bod, so let’s leave it at this: DIY platforms currently do well for people who have large pots of money and know what they’re doing, but they need to work harder for beginners with smaller pots. For these investing newbies, the industry needs to experiment with gamified tools, education programmes, and fixed fees that actually make sense.

Nice to see you, to see you nice!

Next up was everyone’s favourite investment trivia gameshow, with Quiz Master Mackay. In the room, we crowned Harriet Mann from Moneyfarm as the Investment Trivia Guru, with a solid 7 out of 10 correct answers. On Twitter, many of you joined in too. But did you get the answers right?

- And now it's time for our Boring Investment Quiz of the Year at our #investing2018 (https://twitter.com/hashtag/investing2018?src=hash&ref_src=twsrc%5Etfw) event, kindly hosted by @Schroders (https://twitter.com/Schroders?ref_src=twsrc%5Etfw). For those playing at home: Which global index as produced the highest YTD in 2018?

— boringmoney (@boringmoney) 3 December 2018 (https://twitter.com/boringmoney/status/1069619716212305920?ref_src=twsrc%5Etfw)
- We're currently playing for prizes in the Boring Investment Quiz of the Year at our #investing2018 (https://twitter.com/hashtag/investing2018?src=hash&ref_src=twsrc%5Etfw)event. For players at home: Which of the following S&P500 stocks produced the best YTD performance in 2018?

— boringmoney (@boringmoney) 3 December 2018 (https://twitter.com/boringmoney/status/1069620262549811201?ref_src=twsrc%5Etfw)
- Want to play the Boring Investment Quiz of the Year at home? We'll be crowning the winner later at our #investing2018 (https://twitter.com/hashtag/investing2018?src=hash&ref_src=twsrc%5Etfw) event, but you can still vote from home! The robo market has grown to £2.3 billion, but how many customers does it hold?

— boringmoney (@boringmoney) 3 December 2018 (https://twitter.com/boringmoney/status/1069621074374131714?ref_src=twsrc%5Etfw)

James Rainbow eliminates the grey areas

Clarity for the customer was top of the Schroders MD's agenda: making everything black and white with clear guidance, no baffling jargon, and above all a sense of humanity. People still prefer to deal with humans when it comes to managing their savings, so despite the influx of new investors using robos (https://www.boringmoney.co.uk/learn/investing-guides/product-guides/robo-adviser/), there still needs to be a balance between goal-oriented human advice and seamless, accessible tech. How much of a balance? That should be up to the consumer.

- “Give your customers choice about how they wish to deal with you” @jamesrainbow1 (https://twitter.com/jamesrainbow1?ref_src=twsrc%5Etfw) on how to provide advice combined with tech #investing2018 (https://twitter.com/hashtag/investing2018?src=hash&ref_src=twsrc%5Etfw)

— Carmel Dickinson (@carmel136) 3 December 2018 (https://twitter.com/carmel136/status/1069623616898301957?ref_src=twsrc%5Etfw)
- #investing2018 (https://twitter.com/hashtag/investing2018?src=hash&ref_src=twsrc%5Etfw) @jamesrainbow1 (https://twitter.com/jamesrainbow1?ref_src=twsrc%5Etfw) @Schroders (https://twitter.com/Schroders?ref_src=twsrc%5Etfw)“Mrkt needs more focus on the advice space from tech + people perspective. People like dealing with people, but enable the advice with tech to ensure the advice process is smooth. Give your customers choice” pic.twitter.com/Rvo1M7WH3G (https://t.co/Rvo1M7WH3G)

— Becca Cassar (@BeccaAltus) 3 December 2018 (https://twitter.com/BeccaAltus/status/1069626746469838848?ref_src=twsrc%5Etfw)
- The basics of good comms comes down to “talk like a human”. But @HollyAMackay (https://twitter.com/HollyAMackay?ref_src=twsrc%5Etfw) has pointed out if you’ve been saying ‘crepuscular’ for 10 years it’s hard to unlearn. And you won’t necessarily realise that most humans say ‘at dawn’.
🌙#investing2018 (https://twitter.com/hashtag/investing2018?src=hash&ref_src=twsrc%5Etfw)

— Joe Craig, Quietroom (@JoeCraigQR) 3 December 2018 (https://twitter.com/JoeCraigQR/status/1069626580652171264?ref_src=twsrc%5Etfw)

The robo squad meld man and machine

Continuing the emerging theme of fully digital investment experiences versus flesh-and-bone relationships, the founders of Moneybox (https://www.boringmoney.co.uk/isas-pensions/moneybox/), Fountain (https://www.boringmoney.co.uk/learn/articles/which-robo-adviser-performed-the-best-our-q2-results-update/) and Dabbl (https://www.thetimes.co.uk/article/become-a-dab-hand-at-share-trading-with-an-investment-app-hwgf7z9pw) discussed fintech’s role in improving investor confidence.

- We're hearing today from Ben Stanway of @moneyboxteam (https://twitter.com/moneyboxteam?ref_src=twsrc%5Etfw), Dann Bibas of @FountainMoney (https://twitter.com/FountainMoney?ref_src=twsrc%5Etfw) & Mark Ackred of @dabblinvest (https://twitter.com/dabblinvest?ref_src=twsrc%5Etfw), at our #investing2018 (https://twitter.com/hashtag/investing2018?src=hash&ref_src=twsrc%5Etfw) event. How can #fintech (https://twitter.com/hashtag/fintech?src=hash&ref_src=twsrc%5Etfw) & #roboadvisers (https://twitter.com/hashtag/roboadvisers?src=hash&ref_src=twsrc%5Etfw) engage a new group of investors, which more traditional platforms often fail to reach? pic.twitter.com/JoZFyc1szG (https://t.co/JoZFyc1szG)

— boringmoney (@boringmoney) 3 December 2018 (https://twitter.com/boringmoney/status/1069635906901082113?ref_src=twsrc%5Etfw)

Dann Bibas from Fountain shared that, in the early days, it was easy to get caught up in creating a cool digital product with all the bells and whistles, but people still want people. After all, the number one comment from new investors who've just met with a financial adviser (a finance bod human who’s able to consider an individual’s financial goals and personal motivations) is “I feel more confident”. That’s what digital advice need to achieve too - so hybrid models may hold the answer.

Dabbl’s Mark Ackred echoed this feeling. Many young people get stuck when trying to choose a fund that suits them, and some give up altogether. But in the absence of personalised advice, there is another secret weapon: the knowledge people already have. Although 96% of young people have no investments at all, 53% said they’d be interested in investing in brands they know, such as Netflix or Amazon – possibly because they already feel confident that those businesses will grow.

Ben Stanway of Moneybox fame called it his 'mission' to help this under-informed generation. Even in business school, he claims, young people learn about fiscal theories but not how a pension actually works or the impact of compounding. So what hope do normal, non-financial people have? The solution could be to move away from corralling people towards debt products, and to instead hold their hands and make it real. ‘How do you invest for a new home’, not ‘how do you make a 5% gain over 5 years’.

- Ben Stanway, co-founder of @moneyboxteam (https://twitter.com/moneyboxteam?ref_src=twsrc%5Etfw), says people want help planning for good outcomes - they don’t want you to focus on the ins & outs of the process. Totally agree. Sure way to switch people off is bamboozle them with your clever workings.#investing2018 (https://twitter.com/hashtag/investing2018?src=hash&ref_src=twsrc%5Etfw)

— Joe Craig, Quietroom (@JoeCraigQR) 3 December 2018 (https://twitter.com/JoeCraigQR/status/1069633922210963458?ref_src=twsrc%5Etfw)
- These guys are disrupting, these guys are refreshing. Young fintech and old financial bigwigs can learn a lot here in my opinion @dabblinvest (https://twitter.com/dabblinvest?ref_src=twsrc%5Etfw)@moneyboxteam (https://twitter.com/moneyboxteam?ref_src=twsrc%5Etfw) @FountainMoney (https://twitter.com/FountainMoney?ref_src=twsrc%5Etfw)#investing2018 (https://twitter.com/hashtag/investing2018?src=hash&ref_src=twsrc%5Etfw) pic.twitter.com/yhkL35wQpA (https://t.co/yhkL35wQpA)

— Carmel Dickinson (@carmel136) 3 December 2018 (https://twitter.com/carmel136/status/1069629898896154624?ref_src=twsrc%5Etfw)

A final thought before we head to the bar

Our guests gave us lots to look forward to. And lots to think about. But far from being done with shifting the industry’s perceptions, Holly's closing comments gave us all one final glimpse of what people really want from their investments…

- So @boringmoney (https://twitter.com/boringmoney?ref_src=twsrc%5Etfw) asked people what one thing would get them to invest.

Offering 15% returns? No. Wayyyyy above that: talk like a human.

Music to the ears of a language specialist. Use your language to build TRUST.#investing2018 (https://twitter.com/hashtag/investing2018?src=hash&ref_src=twsrc%5Etfw)pic.twitter.com/lIikqUEnsf (https://t.co/lIikqUEnsf)

— Joe Craig, Quietroom (@JoeCraigQR) 3 December 2018 (https://twitter.com/JoeCraigQR/status/1069638376989569024?ref_src=twsrc%5Etfw)
- What would get more people investing? Less jargon, trusted brand & positive reviews top the list. What do they want to talk about? Security and their future. Great event #investing2018 (https://twitter.com/hashtag/investing2018?src=hash&ref_src=twsrc%5Etfw)@HollyAMackay (https://twitter.com/HollyAMackay?ref_src=twsrc%5Etfw) @boringmoney (https://twitter.com/boringmoney?ref_src=twsrc%5Etfw)pic.twitter.com/CubBcUPzDf (https://t.co/CubBcUPzDf)

— Claire Walsh (@IFAClaireWalsh) 3 December 2018 (https://twitter.com/IFAClaireWalsh/status/1069638634964439041?ref_src=twsrc%5Etfw)