/wealth management

News and resources on wealth, investment management, robo and advisor markets worldwide.

Econopolis unveils digital wealth management service

Source: Econopolis

The past few months have clearly shown that our society has made the switch to digital tools (e-commerce, Zoom, Hangouts, etc.) in a very short space of time.

At the same time, the lockdown and the lack of human contact in particular have hit their social limits. All of which explains why quality digital service delivery, complemented with strong personal contacts, is set to become crucial in the post-Corona economy. Today, Econopolis is bringing a response to this change, in the form of Twain: a digital wealth manager, with tailor-made, actively managed investment portfolios, a personal financial coach and the best digital user experience.

Econopolis introduces Twain

The answer to a very clear need for digital tools in combination with hyper-personalised wealth management is now available via a new digital platform. Twain - a self-developed project by Econopolis - derives its name from Mark Twain, the American author famous for his quirky and inspiring view of the world.

Twain is a digital platform for discretionary wealth management which sets out from the investor’s personality and needs. Who are you? Which personal values and investment themes are important to you? And what are you averse to? Thanks to advanced algorithms and Econopolis’ investment expertise, we build unique investment portfolios for our clients. Investing in ‘local entrepreneurship’ and ‘technology companies’ for example, taking into account factors such as ‘peace of mind’ and ‘positive impact’, is just one of the wide range of combinations available. In Twain, no two investment portfolios are the same. So it is out with the traditional “Low-Medium-High” profile portfolios.

As clients need personal interaction and answers to their specific questions at times, each client is ably assisted by a personal financial coach. This sets Twain apart from conventional online private banks whose solutions are strictly based on algorithms (so-called robo-advisors).

Clients are also automatically enrolled as members of the ‘Twain Circle’, an exclusive network, offering admission to inspiring events with renowned speakers, studies and webinars, touching on current events around the world. Renowned experts who manage to see through the everyday

madness and focus on what is really going on. In other words, wealth management the way it should be conducted in 2020. The new digital platform is accessible starting from an investable capital of €200k.

Frictionless client onboarding process with gamification

The sign-up process was devised by an international team of UX and persuasive designers, and contains gamification elements, which turn the client onboarding process into a pleasurable experience. In the initial stages, everybody is allowed to put together an investment portfolio of their own via the website, anonymously and on a no-obligation basis. This process takes just ten minutes and in amongst other things includes a scientifically underpinned personality test. The result: an initial portfolio sketch with unique focus points chosen by the client. The client onboarding process then continues with more probing questions regarding the client’s financial situation, the investment objectives and the risk appetite. Even though we consider it is important that we get a proper understanding of the client, the entire digital onboarding process should not take longer than half an hour. The result is a personal wealth management proposal, comprehensively explained by a financial coach, either face to face or via video tools such as Zoom or Hangouts, before opening the wealth management account.

The customer portal has also been thoroughly redesigned. Gone are the pie charts and tedious tables to make way for a contemporary digital cockpit which shows you how the investment portfolio is doing at a single glance. The content in the customer portal is fully personalised in line with the portfolio composition and interests of the client. Clients can communicate and interact with a financial coach wherever and whenever they like.


Active wealth management with low costs

Investment portfolios are actively managed and custom-built based on a selection of in-house funds and actively managed funds worldwide (open architecture), selected by Econopolis’ seasoned wealth managers. Moreover, no fees except transaction fees apply to the current account. The client only pays the running costs in the underlying investment funds, which is automatically included in the net asset value.

Comments: (0)