Which products or solutions justify the fees? This is the question that has been dominating the investment-management agenda since the global financial crisis, and one that sits at the heart of Paolo Sironi and Maurizio Ravezzi's MiFID II: Value-generation for Investors.
In the face of new regulatory changes and the rise of fintech the industry is on the verge of a sea change in financial advice. The onus is now firmly on financial institutions to not only adapt to the transformation but to stay relevant and profitable at a time of unprecedented change.
With this new book Paolo Sironi and Maurizio Ravezzi provide a roadmap for the reader, showing how best to adapt to this financial revolution. They lay out a new model which places the goals and preferences of investors at the centre of the value-generation mechanism as the origin (on-boarding) and the final destination (in-boarding) of advice.
MiFID II represents the most ambitious regulatory project to affect the modality of interaction among investors, distributors, advisors and manufacturers. The book's analysis of MiFID II will serve as a canvas to showcase how best practices, grounded in goal-based investing and probabilistic scenarios, will create a new framework. This framework will allow the reader to evade the pitfalls of progressively commoditised investment solutions, and avoid disruption to their business by harnessing the 'human element' to achieve sustained innovation.
"Ravezzi and Sironi hit the bullseye in identifying clients' goals as the central focus in the next generation of financial advice. They recognise that pairing clients' goals with the distribution of financial products via comprehensive advice leads to a balanced and transparent approach that brings the consumer and institution together in the right way. As vanguards of the FinTech industry, they have identified that banks must provide the personalisation their customers want and need with sustaining innovation necessary to avoid disruption." - Tom White, Founder & CEO - iQuantifi, Inc.
|Publication date||8 Dec 2017|
1 Regulation Drives Financial Advice R-Evolution
2 The Main Actors of Financial Advice
3 On-boarding and In-boarding
6 Delegation and Industrialisation
7 A Framework for Compliant Added Value of Financial Advice
8 Silicon Valley is Coming