That sounds interesting! Could you tell me a bit more about your professional life? How did you end up as the Head of Client Success at Alpian?
So, I’ve worked at Deutsche Bank for 12 years. I gradually moved from leading one operations team in Private Wealth Management to client advisor of High Net Worth and Ultra High Net Worth clients in Greece and Turkey.
After that, I moved on to Pictet Wealth Management, where I worked as Business Manager on the Investment Platform implementing the Investment Specialist role and as Product Manager on different investment products.
I joined Alpian in October 2020. I joined because I believe in the democratisation of Private Banking and making this accessible to other client segments and demystifying finance to be more comprehensible and transparent. Raised in Sweden where Fintech is predominant I have seen and benefited from high-performing digital platforms, so I believe there is a great opportunity in other parts of the world.
Part of your aspirations is to educate more women about finance and investing. Why do you think it’s important to help women take charge of their finances and investment?
I think that for women, especially, it is very important to take accountability for your financial future: Nobody else can do it for you. You have to do it yourself and be the master of your own future. It’s really important to get that message across to women.
There is also the importance of thinking about starting your investment journey early. If you start early, you might be able to afford to add a little bit more risk with the longer investment time horizon that you have as a younger investor. It would also allow women to get a bit more comfortable and experienced in the whole investment area.
With my work, I want to, especially, reach all the young women who have finished their education and embark on their careers. This is the time to really think ahead. This is where the banking sector will have an important role in taking a lifecycle approach when they advise women investors. Given that, on average, women will take career breaks or potentially work part-time during some time in their lives.
Could you expand a bit more on the principle of lifecycle investing?
Yes, of course. I would define lifecycle investing as the different stages of a person’s life. For example, when a woman starts working, she’ll probably most likely have a lower salary, around the age of 25. At that time, she could work with a bit of a longer investment time horizon and, therefore, be able to take a higher risk. Starting the investment journey early, would give the woman investor more options for the next life cycle phase and provide her with a better investment buffer
When we move on to the next phase, where women may have families, they may take career breaks, or they’ll be working part-time. They will need to reconsider and most likely adjust the investor risk profile to a more balanced profile. The revenue generation will probably drop. And we may need to look at how we could, in that case, offset that revenue drop, and we could look for revenue-generating strategies to compensate. So that could be the strategy for the younger middle-aged woman.
Then, the next phases will be more toward the senior part of life. Some women might be finishing their careers working full-time, with higher revenue streams coming in, and could afford to add risk to their risk profile, they will most likely be more comfortable and confident investors at this stage. Finally, as women approach retirement, their capital base will most likely be more important, the risk profile should be adapted to a more conservative profile and oriented to more income-related investment strategies.
Why do you think women are less likely to invest and to really take risks like men?
First of all, I think the terminology is probably not the most adapted to women investors. There’s also a lack of trust from women in the whole investment community.
I think the investment community hasn’t made the appropriate efforts to really help women get on board on the investment journey, like partnering up with women, finding the correct vocabulary, or finding products that are basically tailored to women investors.
I think that the banking and the investment community really need to change on that side, to be able to provide investment plans that are more tailored to the woman investor as well. To really take the time to sit down with a woman and understand her personal objectives. The woman investor should expect to be fully comfortable and confident with her investment strategy so that she can focus on what is important to her in her life.