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“Investimente” is a
Schroders’ initiative created using TamTamy, the Reply Group solution for developing enterprise social networks and communities for, one of the world’s leading asset management groups. The project is dedicated to professional consultants, promoters and private bankers wishing to deepen their knowledge and enhance their relationship with their customers. Based on the science of behavioural finance, it turns theory into practice, offering financial advisers and promoters a useful and innovative tool that is accessible on the move and easy to use in their everyday work. Available on the web and for iPad, the solution helps to identify the main emotional and cognitive factors that often result in sub-optimal investment decisions. The objective, then, is investing better by knowing yourself better.
Founded in 1804 and listed on the London Stock Exchange since 1959, Schroders is now one of the world’s main independent international finance groups, specialising in asset management. The group provides its management services through Schroder Investment Management Limited (SIM), a global leader in the sector. SIM’s core aim is to meet the financial needs of a wide spectrum of British and international clients using specialist skills honed over time. Schroders has been purveying its international asset-management services in Italy since 1995. With the Investimente project, Schroders has reinforced its position as a prominent enabler in the asset-management market, in response to financial advisers’ acute need to understand their clients better in order to offer them comprehensive investment support. “Investimente” is not only a sales tool. Rather, it is useful in stimulating positive dynamics and in boosting financial promoters’ effectiveness while consolidating Schroders’ visibility compared to its competitors. In the present climate, investment choices are anything but simple. This complexity arises not only from the economic crisis and market uncertainty but also from human nature itself, which is a key issue for financial advisers to get to grips with.
Most decision-making errors, and not just when it comes to investment, are often systematic in nature, and therefore predictable. Schroders offers the financialconsultancy market a practical, innovative, simple tool that financial promoters and advisers can use to guide and assist their clients more effectively.
“Investimente” represents the key to smoking out the main cognitive errors, through a team effort between investor and adviser. The knowledge and mutual understanding thus gained helps to consolidate the professional relationship. The project involved besides Schroders and TamTamy also Matteo Motterlini, who is a Professor at San Raffaele University, head of CRESA (experimental and applied epistemology research centre), a recognised expert in Italy on behavioural finance and decision-making processes.
The service can be used via the web at
www.investimente.it. Its centrepiece is the online Test module, consisting of four sections to explore and flesh out character traits, self-awareness, knowledge of the context, confidence and the main cognitive pitfalls lurking when investment decisions are to be made. Through gaining experience with the Test system and analysing the results together with their financial adviser, investors can sharpen their basic skills to make the most rational and aware choices.
Reply has been involved throughout the process, from the initial design to the brandidentity stage. The technological development complemented a meticulous approach to devising the user experience and the graphic design. Reply was also on hand for the implementation phase to support Schroders at vital moments during the launch.
TamTamy, Reply’s proprietary Enterprise Social Networking platform, laid the technological foundation for the all-round solution.With its great flexibility, the solution has met the design requirements by placing strong emphasis on communication, user experience and brand perception while also providing the most effective ways to address implementation needs.
With “Investimente” the Test can be run in two ways: self-service or assisted. The promoters send invitations by email to their private clients, who can try the Test on their own or through a shared environment. The results are immediately available along with guidance on how to interpret them, becoming a discussion between client and adviser.
Completing the Test, uploading the names and inviting the clients to participate, are quick and intuitive operations, underpinned by rigorous data-protection security. All the data collected is aggregated anonymously and fed in to the research into the relationship between psychology and finance conducted at
Experimental and Applied Epistemology Research Centre (CRESA), Vita Salute San Raffaele University.
Using a dedicated dashboard, the financial advisers can monitor the overall results of the Tests and can compare them with the typical scores from all the other users.
The behavioural decoding, the evaluation of the mental traps, and the summary of the client’s preferences are conveniently presented through tailored infographic solutions. The Test result data provides useful ideas for made-to-measure investments, for both the client and the financial adviser.
In addition, a dedicated
App, developed for the Apple iPad, can be downloaded free from the iTunes Store. It supplements and further extends the system, making it available to financial promoters via the mobile channel, which is increasingly popular among clients and advisers alike.
A major feature of the project is the use of the TamTamy platform on a
Software-as-a- Service (SaaS) delivery option. This ensures additional system flexibility, thus freeing Schroders from the need for costly technological infrastructure, which can be managed and maintained externally instead.
Reply has added value to the Investimente project courtesy of the TamTamy team. With their mix of proven expertise and experience in technology, communications and user experience, they have been able to meet Schroders’ requirements effectively at every stage of the project as a single point of contact.
TamTamy’s mission is to support business by designing and developing social-media tools and techniques. TamTamy has been an active player in the market since 2007, with a proprietary platform used to build social relationships between colleagues, stakeholders, partners and consumers inside and outside the company. The platform is continually enhanced to provide the most innovative online social-interaction features, through collaborative and communication tools based on open standards and a simple, intuitive interface. In addition to the platform, TamTamy’s offering includes professional services to support customers in conceiving and designing tailored engagement solutions.