Open letter to #FinTech firms
Over the last few months I have been to quite a few #FinTech events. I see a few firms deal with important issues like the 5% friction of broker fees when selling homes, or the friction when sending money internationally. But more often than not in subindustries like investing, I have seen startups orient their solutions around #millenials (or kids) assuming that their habits aren’t set and they are more maleable than their older counterparts.
Sadly I belong to the set of “older counterparts”. On behalf of that set of people I’d like to request startups to stop assuming that we are a gone case or changing our habits is impossible. We should very much be your target audience and we should very much be expected to change our habits if a great product comes along. We might not have started investing today, but we certainly feel the pressure of investing well for our family and kids!
We might be a tougher audience to impress since we know that Mean Variance Optimization is by no mean a silver bullet or that alpha isn’t unattainable, but we are at a stage where skilled management of our investment assets is going to yield a lot to our happiness.