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Pierre-Yves Rahari

Disruption in the asset management distribution ...

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Colin Ng

Time to lift the bonnet on their product-based profit and loss statements to see what is actually making money

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    • Jonathan Max
      By Jonathan Max
      Innovation is changing Investment Management. The Investment Association highlighted rapid technological change in its recent industry report
       
      Day by day new technologies like blockchain, machine learning and artificial intelligence are revolutionising the industry. It also encourages professionals to keep learning and adapting, invest in new skills, and be tech-savvy.
       
      With this acceleration of technology adoption and the changing nature of work; what exactly is the human element for the future of careers in Investment Management as it embraces Fintech? 
       
      Forbes points the way very clearly in its Six Innovation Leadership Skills Everybody Needs to Master article; that being innovation and ‘the need to bring people together as a team. The need to demonstrate deeper empathy. The ability to get new things done.’
       
      Technical skills can be learned, but a person’s motivators and behaviour style are typically more difficult to acquire and learn. This means it is imperative Fintech firms do not (or should not) make hires based on a candidate’s technical skills alone. 
       
      So why exactly are these softer skills relevant to Fintech and Innovation?
       
       
      Mindset
      FinTech professionals are required to have the analytical and critical thinking skills needed to help them find creative solutions to such problems, this Innovation Mindset will be essential to succeed in the dynamic nature of FinTech. The ability to collaborate effectively with others build relationships and demonstrate critical thinking will be in demand more than individuals who just ‘major’ on technical skills alone.
       
      Flexibility
      It has been predicted traditional Investment Management roles will soon become obsolete with estimates of their demise ranging from 5 to 20 years. For those considering transitioning from a more traditional role into Fintech, technology skills are not all that is required. A need for an adaptable and flexible approach to ensure cultural alignment in what can be very different working environments is essential. This applies equally to what individuals earlier in their careers need to be thinking about when they approach career planning plus hard and soft skills development. 
       
      Soft Skills
      The good news is soft skills is the topic most pursued across all career phases among the Investment Management industry. As we see the blending of industries - Fintech and Investment Management – it will be just as important for Fintechs to identify the need for people with strong soft skills so they may build the innovative, appropriate culture to enable growth of sustainable and healthy businesses.
       
      There is so much positive energy and progress across the sector and many great success stories. But, when the ‘human’ element is misaligned the outcomes can be spectacularly detrimental  - reports in the media about Revolut ‘where turnover and toxic behavior is rife’ are a case in point.
       
      What is evidently clear, soft skills are not ‘nice to have’ but essential for both employees and organisations to embrace so they may effectively navigate the future of the Industry and the opportunities ahead.
       
      We’ve looked at this in depth in our latest industry report. To find out more about our view of what’s to come, please download and read the AlgoMe report: The Disrupted Career: FinTech, Innovation And The Future Of Careers In Investment Management.
       
    • Jonathan Max
      By Jonathan Max
      https://www.theia.org/sites/default/files/2019-06/PolicyPaper-June2019.pdf
       
      Really interesting Policy Paper from the IA which certainly highlights the fundamental changes underway across the industry, particularly against a backdrop of increased regulation and technology disruption.
       
      Clearly the 'people' aspect is key, would be great to find out more about the Talent and D&I Strategy @gillian.painter?
       
       
    • AlgoMe
      By AlgoMe
      Opportunities for asset management in a rapidly changing world.
       
      Join us at The Investment Association’s Annual Policy Conference 2019, the IA’s flagship event and one of the most influential platforms for debate about the future of asset management in the UK. This year's conference will focus on how the industry can capitalise on growth opportunities and overcome the imminent challenges in a rapidly changing world.
       
      High level speakers will provide key insights on how the asset management community can utilise technology and innovation in order to deliver better outcomes for consumers; attract the best talent pool in a dynamic world of work and maintain the UK financial services industry’s global influence in a post-Brexit era.
       
      https://www.theia.org/events-training/event?eventtemplate=168-the-ia-annual-policy-conference-2019&event=357
       
    • Luuk Jacobs
      By Luuk Jacobs
      The adoption of FinTech will bring significant changes for the future of Investment Management - from which products are offered to clients and how they are delivered, to the overall structure of the Industry itself. This level of disruption will also impact the future careers of the individuals working in or entering the Industry today.
       
      According to the European Fund and Asset Management Association (EFAMA), there are 610,000 professionals employed directly or indirectly across Europe in the Investment Management ecosystem, with over 100,000 in the UK. Which of these roles could disappear over the next couple of years, where are the opportunities and how should you navigate the disruption?
       
      In our latest report, The Disrupted Career: FinTech, Innovation and the Future of Careers in Investment Management, we explore how FinTech is changing careers across the industry, and how professionals are being impacted by and are responding to these changes.
       
      DOWNLOAD THE REPORT
       
      Disrupted Career Paths

      Our report found that very few areas within Investment Management will not be impacted by technological change; the career paths of the future will be radically different. 
       
      Professionals will need to embrace a more flexible approach to career planning. In addition, future job growth and progression opportunities will be concentrated in FinTech and in roles driving innovation in existing Investment Management functions.
       

       
       
      Will We All Be Coders?
       
      Many professionals will need to develop more technical skills, and not just in traditional technology roles. Even where ‘hard’ skills around coding, AI and data science will not be important, there will be an expectation that professionals will have a more holistic view of how technology underpins the business.
       

       
      However, this will not negate the importance of soft skills, and blending skill-sets will be critical for the most successful teams and individuals.
       
      With the industry expecting strong growth with a target of doubling of AUM over the next decade, those who position themselves to embrace the coming changes can look forward exciting opportunities.
       
      To find out more, please read the full report.
       
      DOWNLOAD THE REPORT
    • Luuk Jacobs
      By Luuk Jacobs
      The Disrupted Career
       
      Welcome To The AlgoMe Report On FinTech, Innovation And The Future Of Careers In Investment Management
       
      This report aims to address key questions that are important to everyone working in or looking to join the Investment Management Industry.
       
      How significant will the impact of FinTech be on career paths? How likely is my current role to be affected? Where are the opportunities in this disruption? How can I best position myself for future success?  
      We asked a panel of Investment Industry professionals their views.
       
      The full report is available for download to all AlgoMe Community members. Not already joined? Becoming a member takes less than a minute.
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