035 – the evolution of the investment process – with Andrew

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Andrew Kirkland visits to chat with Jurgen about his new venture, Justwealth. Justwealth takes the traditional investment model of working with a financial advisor or bank and puts it online.

A portfolio is built through the online interface. The financial services industry has been operating “status quo” for a long time. Justwealth is offering a new method – it’s evolution. Justwealth is Canadian and because of the regulations, there is the interface online, but you also have some human interaction, by phone or email. There is a questionnaire about investment objectives, capital, risk, time horizon, etc.

You have to have the “why?”. Justwealth is looking to focus on how to do the best for their clients. Tailoring the portfolio to the client, helping them make a sound decision.

Why go online to this type of service? Why not go into a bank? Time constraints, doing the process online is easier to set up the plan, rather than meeting at a bank. There is still the human contact by phone or email. Online banking has become the popular way to do business, over the past few years. This is probably due to ease of banking on your terms. Naturally, technology has evolved the investment process as well.

Aside from the ease and efficiency of setting up online, it is also a lower cost than traditional methods at the bank. The money is held in Canada, by the custodian for the firm. All assets are segregated from Justwealth.

Many American companies use algorithms without much human interaction.

The millennials are the ones comfortable with the ease of the technology. In time, more people will become more comfortable and knowledgeable of this type of process.

As Simon Sinek suggests, it’s the early innovators and adopters that should be focused on, then there is a tipping point. As more people become comfortable using the technology, there will be more people using these methods. (i.e. uber, air b n b, banking, financial services).


At the end of the day, this is people’s money, technology can make things more convenient, but there still needs the human intervention. You have to keep pushing the envelope and being innovative.

Of course, always contact a professional before proceeding with any investment.

As we go to a more transparent world, the general public will become more aware. The people who are worried about this type of investment firm, have to take a look and see what type of firm they are and what they offer their clients. Having your clients’ best interest in mind, and the relationship with the client, is more important than worrying about competition. Competition is a good thing. Waves flip things upside down, stir things up. This can lead to better service. Focus on good value, this is a win for the investor.


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About the author, Jurgen

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