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52. Making WealthTech Right with Eric Mellor

52. Making WealthTech Right with Eric Mellor

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Key takeaways

  1. With purely technological solutions, consumers assume more responsibility over their wealth management progress.
  2. The pandemic has exposed the urgency to amend the advice gap for people without safety nets in terms of financial affairs.
  3. Without a rigid curriculum to foster financial literacy, many are less likely to pay attention.

This week on WealthTech Unwrapped, Ned and Dani cover the rise of sustainable finance and the challenges of its adoption. As a veteran in the finance industry, Helene believes that ‘green is the new black’, and Covid has accelerated the need to rethink the finance industry with an impact-focused perspective. However, with such a rapid growth in interest, greenwashing threatens this dialogue from creating meaningful actions. Helene summarizes the obstacles of sustainable investing as the data and literacy gap. She suggests that the lack of reliable and transferrable data and overwhelming numbers of terminology prevent a productive adoption. More often than not, investors raise doubts about financial returns when venturing into ESG funds. Helene considers this an incongruous concern as every investment involves a certain amount of trade-offs, and ESG funds shouldn’t be evaluated differently. In order to effectively tackle the gaps in sustainable investments, advisors should build their ESG knowledge beyond theoretical frameworks with use cases to help clients understand the narrative. A notable challenge in promoting sustainable finance are self-proclaimed ESG experts who might spread misinformation and endanger the work that seasoned industry professionals have been trying to stabilize. As sustainability is a subject that young investors are increasingly conscious of, Helene suggests that there’s no need to be overwhelmed or feel helpless because every little contribution goes a long way. Furthermore, there are organizations, like GoImpact, that are actively trying to chip away at the learning gaps to make adoption successful at a higher level. As such, even without the funds to invest sustainably, an awareness of the impact is also a part of the movement that requires the effort of all stakeholders coming together. Speaking of the future of sustainable finance, Helene hopes that in time to come, terms related to sustainable investments would become redundant, such that it is considered the norm rather than the exception.

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Meet Our Guest Speaker

Eric Mellor

Wealth Management Specialist at Temenos

Before venturing into the field of wealth management, Eric served 10 years in the Royal Navy and attended the University of Portsmouth with a degree in Financial Services. He has accumulated diverse and extensive wealth management experience across retail asset management and private banking, as well as other developments, from his time at HSBC and IFS among other organizations.

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