The New Wealth
How followers become funds
There are two parts to influence: First, influence is powerful; and second, influence is subtle. You wouldn’t let someone push you off course, but you might let someone nudge you off course and not even realize it.
-Jim Rohn
The term influencer is a relatively new one in the zeitgeist, describing a large social media personality with significant following, but the concept is as old as time itself. One person, with a large following who can influence the choices of their followers, be that religious, political or business-wise.
We live in an age where the youngest ‘self-made’ billionaire in history is Kylie Jenner. With 78m Instagram followers at her back at the time she turned a $250k investment, into a $1.2bn dollar make up empire.
Jeffree Star has done the same, Minecraft used YouTube creators to turn a few man hours of programming into the highest selling game of all time. The formula has been set. If you are a company right now and you have no influencer links, you’re toast.
We have already seen the power of social media with Brexit, Trump and the Arab Spring all amplified and realized through social media, yet right now the most powerful forces on these platforms, the influencers, are still under utilized and under respected for what they are, digital entrepreneurs by any other name.
Influencers have an incredible volume of power, with 92% of respondents trusting the word of an influencer over a traditional media advertisement. Influencers are personally pocketing $3.3bn as of last year with influencer marketing growing at triple digit percentages with the number of influencers growing at 75% annually on YouTube alone. There is a clustering of colossal personal wealth being accumulated directly from social media, let alone the ventures they choose to spin off themselves and promote with their colossal following. Influencers aren’t just content creators, they are sales people with millions of prospects, politicians with millions of eyes on them, activists with a million protestors in waiting, and most of all they are businesses.
Influencers have power, influencers are getting up there to qualify easily as HNWI. But what help do they have?
Ask a Private Bank whether they have ever spoken to Pewdiepie, watch them laugh you out of the room even though he took home over 17m last year and owns one of the highest grossing apps on the App Store of 2018. 90% of our HNWI qualifying influencers have never spoken to a financial advisor or wealth manager.
Traditional services are completely failing to cater to these digital natives, and traditional managers have no way to network and meet these clients, yet these clients need the most help, and with 75% being core millennial they have the longest client term available. These are the most valuable clients they could ever acquire and they are simply failing to do so through ignorance or incompetence.
This is where we are happy to step in…
220 (Second To None) is a digital challenger private bank for digital natives. The private bank for the most public people. A vertically integrated tool for influencers to manage their financial lives and to support their every venture.
- We professionalize the influencer market with premium marketing contracts settled on the faster payments network.
- We help them manage and monitor their Cashflow from multiple sources, with most influencers using at least 4 income sources, and compare to their peers to see how they might do best.
- We allow influencers to collaborate and co-fund ventures (FMCG, fashion, tech, events) with our full support and promotion across our influencers. Companies that from day one have the support and custom of millions.
- We aim to professionalize the market. Our users are high performing digital entrepreneurs, they are just titans of an industry that doesn’t have the respect it deserves yet we need to change that.
Wealth has changed. It’s no longer sitting in a gloomy manor in an antique tartan with a family signet ring living a private life. It’s getting a good picture on Instagram in your bright green Lamborghini, with your supermodel in the passenger seat and more diamonds on a Rolex than a De Beers Vault. Wealth these days is an accomplishment to be enjoyed and celebrated, and it’s a clear change of perception for this new age of motivated and inspired creators and entrepreneurs. Working with an old private bank doesn’t cater to that. We are the least Private Private bank, as a 220 member, you have access to the 220 metal card, it’s not a standard metal card that your little cousin can get just for paying extra, it is a status symbol that you are the elite of the elite in the influencer world, the 1m+ club.
Looking forward to 22/01/20, not only is it my birthday, but the target date of the first 220 Gala for influencers and launch.
Stay tuned.
Henry Richard Fudge
220 Bank CEO and Co-Founder
