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by Leila Thomas, CEO and Founder, Urban Synergy

Happy International Women’s Day? I’m never quite sure if this is a day to celebrate or commiserate.

As we inch towards a more equitable society, ONS figures show that women still earn 7.7% less than men, and according to research by the Runnymede Trust* for Black Caribbean women that figure rises to 18% .

The Runnymede Trust also reports that “75% of women of colour have experienced racism at work, and 61% report changing themselves to ‘fit in’.

This year’s International Women’s Day theme is ‘inspiring inclusion’, and as ever, the charity I founded in 2007 – a Dynamic Planner partner – will be celebrating the female role models and mentors who make us a beacon of progress, optimism and, on so many occasions, joy.

Help us create the “C-Suite” excellence of tomorrow

For those who don’t know Urban Synergy, we’ve worked tirelessly with some 27,000 young people aged 9-24 to help them access education, degree apprenticeships, and work.

Active across London and the UK, we connect those young people to inspirational role models (such as Parris Small, a Software Engineering Analyst at Goldman Sachs, shown) in the form of mentors who they can relate to, who help the young individuals gain access to education, internships and work experience.

Then when they’re ‘work ready’ we connect them to companies that want to nurture and employ the next generation, particularly in the communities in which they operate.

In other words, we help young people write their own futures. We couldn’t have done it without the support of people like Ben Goss, CEO of Dynamic Planner, who was one of our founding role models, mentors, and corporate board members as part of his passionate support for inclusive business.

Today his company has the pick of Urban Synergy’s raw talent, young people who are bright, unique and hungry to succeed.

As Ben argued in the FT in February, Diversity and Inclusion is a supply and demand issue, and on the supply side, the continued challenge is that too few people from diverse backgrounds see financial services as a career path for them.

In his own right, Ben can today celebrate that his highly successful team is made up of 45 per cent women and non-binary colleagues.

This team speaks 27 different languages, and 43 per cent are non-white, while 10 per cent are LGBTQ+ and 21 per cent identify as neurodivergent.

A trailblazer role model

If you follow Urban Synergy on LinkedIn and Instagram, you will see our many female role models, mentors and their mentees. Like us they are inspired by trailblazers such as Ben who make their workplaces more inclusive and accessible.

You’ll also see the mentors who helped young women like Perrine Beckley shown in this image make it to Oxford University with confidence.

That’s when the joy kicks in. So often we learn that an Urban Synergy mentor is being invited to a young person’s graduation, or that the individual they’ve supported has been offered an apprenticeship or a job where they can build a career.

We’re lucky enough to be celebrating the 30th birthdays of four young men who began their journey with Urban Synergy in 2009. Their teachers at Deptford Green School feared they were at risk of exclusion and would fail to reach their true potential.

You can see their stories in this short video. Today they hold these roles:

Gavin Kamara – SEO Manager at CMC Markets
Kofi Siaw – Vice President at HSBC Innovation Banking
Chad Orororo – Sound Fx Editor/Sound Designer (Freelance)
TJ M.Jaiyeola – Relationship Manager at Transaction Network Services

So yes, turn on the news, and you can see that the three evils of war, racism and poverty are ever present in this world. However, on International Women’s Day, we certainly have something we can all celebrate.

If you would like to experience the joy of becoming a mentor, or want to partner with Urban Synergy to make your business more sustainable and attract young people to financial services, contact us.. You can also donate here.

With 45% of team members at Dynamic Planner being women, we are truly inspiring inclusion. For International Women’s Day 2024, we asked three women what embracing equity means to them. This is what they said.

Kate Gower, Product Owner

“At Dynamic Planner, International Women’s Day isn’t just a celebration, it’s a daily practice. From promoting female leadership within our teams to implementing flexible work arrangements that support work-life balance for working parents, I feel both empowered and appreciated.”

#InspireInclusion

Natali Gilmour, Partner Integration Manager

“Having worked in what is historically viewed a male dominated industry for over 27 years in a variety of roles in FinTech, at Dynamic Planner I am part of a mostly female technology team who as individuals have grown up in different parts of the world – its a privilege learning from women from all different backgrounds and cultures.

“I am immensely proud of what women continue to achieve within business and for many, working remotely and balancing a busy home and family life. Today, the 8th March is an important day for more than one reason as my son was stillborn 14 years ago and I am now training to be a SANDS Befriender to help bereaved parents of all cultures navigate what is one of the most tragic events. I am immensely proud of what I have achieved, the knowledge and career I have, and how my opinion is valued by others within the business, and when speaking to Partners and clients.”

#InspireInclusion

Emma Dodd, Junior Developer

“Currently software development is a stereotypically male profession, but it wasn’t always the case. Many early computer programmers were women (Ada Lovelace, Grace Hopper, the ENIAC programmers) and this was once a female dominated industry. To encourage women into this career path again, we need to #InspireInclusion.

“We need visible role models, especially at senior levels, so that women can see that this is a successful career path. We need to provide opportunities for women to learn the skills they need to succeed, at school and beyond. And of course, we need to support them – not just with words but with meaningful action.

“I am proud to work for a company that is making progress here, with women increasingly represented within our technology teams at Dynamic Planner, opportunities for training, and support such as hybrid and flexible working. There is always more to do, but we are making progress to #InspireInclusion.”

 

 

By Ben Goss

Back in the late 1990s, I left my job to found an internet startup. I remember the sense of possibility at that time, the expectation that everything would change. And, 25 years on, so it has proved.

From banking to buying car insurance to planning a holiday, we do everything online, and increasingly on our mobiles. The pace of change has been unprecedented. New digital technologies such as mobile, AI and personalised content have the power to transform your business. Not tomorrow but today.

At Dynamic Planner, we’re focused on harnessing their full potential to scale your success. In the advice industry, we have our own megatrends. Consumer Duty requires ongoing servicing to be delivered to customers in return for ongoing fees. Capital is being invested at unprecedented levels and demand for advice is outstripping supply.

A two-year development. A 20-year dream

According to the FCA, 4 million people received advice in 2022, but 10 million could have benefited from it. We know from our research and conversations with you that you’re bullish about the opportunities. But we also know that there are some material challenges that stand in the way of your ability to create the capacity in your business that makes profitable growth possible.

Heavyweight engagement models that rely on formal ‘advice episodes’, with their accompanying compliance overhead, suck up time for advisers and clients alike. So, at Dynamic Planner we asked ourselves, what if we could change these for you? What if we could remove the blockers and create more capacity for you digitally?

Our latest innovation at Dynamic Planner is designed to help you scale your success with engaging financial planning that is valued by the client, and that is less work for your firm, not more.

We’ve been working on this development for the last two years, but it’s something we’ve dreamt about for 20: the idea of helping you put a financial plan in the palm of the client’s hand.

Your new app by Dynamic Planner

We want to help you enhance your digital provision in a Consumer Duty world and demonstrate the ongoing value of your services. We want to enable you to engage clients via a meaningful digital experience. And we want to create capacity in the advice process, to drive the productivity gains you’re looking for.

We’ve built the digital future of financial planning, Tram, your new app powered by Dynamic Planner.

It’s a clean canvas your business can white label and enables your clients to check that their financial plans are on track. It is somewhere they can feel reassured, supported, and special. They can read regular content which is targeted to them. And they can securely message you.

First thoughts from advisers and clients

During early trials of Tram, what have businesses like yours said? Here’s one adviser: “We’ve been really, really impressed. The app itself is aesthetically pleasing and has a premium feel. And the content is a real USP and sets it apart. It adds to our proposition and provides the client with a great experience.”

Consumers themselves, who have been granted early access, have said of Tram: “Clear, crisp, and simple. My information being available was seamless and easy to get to the point where I could get started. The biometric login was very helpful. Having access to the app means I don’t need to speak to my adviser as often. I can see myself checking this on a weekly basis.”

Exciting, to say the least.

I feel the same possibility now that I did back in the late 1990s. Technology is transforming financial advice and there is so much we can achieve. We look forward to working with you in the year ahead to help you maximise the value of Dynamic Planner, to your business and to your clients. I feel confident that together we can scale your success.

Published 5th March

Speaking to over 700 financial planning professionals at the 12th annual Conference for Dynamic Planner, the UK’s leading digital financial planning and advice platform, CEO Ben Goss said: “We live in the most extraordinary of times, the speed of change is unprecedented, and technology is driving this transformation.

“In the advice industry, we have our own megatrends. Consumer Duty requires ongoing servicing to be delivered to customers in return for ongoing fees. Capital is being invested at unprecedented levels and demand for advice outstrips supply in this country. In 2022, four million people received advice– but 10 million people wanted it.*

“We know from our research and conversations with organisations delivering wealth management and financial planning services they’re bullish about the opportunities this presents, but there are material challenges that stand in the way of creating the capacity that makes profitable growth possible. While there are blockers such as variable data quality and time-consuming compliance requirements, we also know that new digital technologies such as mobile, AI and personalised content have the power to transform the financial planning and advice industry – not tomorrow, but today.

“We asked ourselves, how could Dynamic Planner help the advice industry remove these blockers and create more capacity? What can we do to enable our clients to harness their full potential to scale their success? Today we are announcing key areas of innovation that will deliver just that.

“The first is accurate data, we now use the latest ‘low code technology’ in conjunction with continuously deepening integrations that are important to our clients, adding Salesforce, Zoho and Durrell, recently, with more to come. With these new data flows we’re proud to say that our clients delivered annual reviews to over 338,000 households in the last 12 months, and that across the whole of Dynamic Planner users now 80% of advisers produce reviews in 35 minutes or less, 20% complete them in less than five minutes.

“The next key area is ever faster and more accurate automated analysis. In the past year, we’ve introduced the ability to value DFM models in the review process and launched our Single Strategy Mapped service, designed to deepen the accuracy of risk analysis within Dynamic Planner. Today we are launching DFM performance reporting for client reviews. At launch we are providing performance across over 900 DFM portfolios from 53 providers meaning that annual reviews for clients holding DFMs is as efficient as those holding packaged products.

“And to revolutionise the digital customer experience, we are launching Tram™ – keeping your financial plan on track – our latest innovation designed to help organisations scale success with engaging financial planning that is immensely valued by their clients. We’ve been working on this development for the last two years, but it’s something we’ve dreamt about for 20: putting the financial plan in the palm of the hand.

“The Dynamic Planner System now has modules which cover a client dashboard, profiling, reviews, recommendations, cash flow planning, research and suitability as well as added deep capabilities in firm administration, MI and target market configuration integrated into the most widely used platforms and practice management systems.

“We’re leading the way with R&D spend in the financial planning space and as a Microsoft Gold Certified Partner we’re making use of the technologies in Microsoft Azure, including OpenAI, to innovate for the future. We’re curious about the possibilities for AI and hyper-personalised content in financial planning and we’ve taken the first steps on that journey.

“I feel the same sense of possibility today that I did in the late 90s as the Internet emerged. Technology is transforming financial advice and there is so much we can achieve. We want to help advice organisations to digitise in a Consumer Duty world and demonstrate the ongoing value of services. We want to enable firms to engage clients via a meaningful digital experience so they can attract their next generation. And we want to create capacity in the advice process to drive the productivity gains they are looking for. We’ve built the digital future of financial planning for the advice industry to use today.”

Dynamic Planner, the UK’s leading risk-based financial planning system, has launched ‘Tram’, a brand-new digital engagement app white labelled to financial planning organisations and designed to keep customers engaged with their financial plan like never before.

Powered by Dynamic Planner, Tram – keeping your financial plan on track – does the following:

  1. Helps firms meet the needs of Consumer Duty and deliver ongoing value to support their ongoing service and fees;
  2. Delivers meaningful digital engagement which appeals not just to existing clients but also to the next generation of a firm’s clients and;
  3. Creates capacity for firms so that they can grow and scale their business.

Uniquely Tram tracks clients’ progress against their financial plan, goals and agreed risk level, provides daily valuations and delivers personalised content aligned to their target market. In line with Consumer Duty it places the outcomes the customer is looking for at the centre of the service. It is available for both Apple and Android phones. Tram offers end clients true digital engagement and is designed to ensure they feel special, gain reassurance from their adviser and want to return regularly to the app.

Ben Goss, CEO, Dynamic Planner said: “We have been working on the development of Tram for two years, but it is something I have dreamt of bringing to life since founding Dynamic Planner. The idea of putting the financial plan in the palm of your client’s hand so they can keep track and you can deliver value 24/7 – but with low marginal cost – is transformational.

“Transformational for your clients and their access to your help and advice, but also in terms of the cost to serve clients and the capacity it can put back into your business. With Consumer Duty shining a spotlight on adviser ongoing charges and demonstration of value, creating capacity in the financial advice process in order to scale is paramount. Tram will offer valuable time and efficiency advantages at scale to advisers, as well as an enhanced ability to attract and retain the next generation of clients.”

Tram harnesses the API technology on which the Dynamic Planner digital planning and advice platform is built and also takes advantage of the multiple integrations in place between the Dynamic Planner platform and relevant CRM/practice management systems, platforms providers, custodians and asset managers. It is white labelled so that advice firms can align the look and feel with their own brand, offering clients a seamless experience.

Ben Goss continued: “The world is now mobile led and financial services is consumed more than ever via apps. We’ve invested heavily in the UI to ensure that Tram is every bit as slick and appealing as the best of any apps already on your client’s phone. We have also blended our expertise around best practice behavioural finance with best practice design, creating an app clients will want to come back to.

“Tram literally puts you, the adviser, in the client’s pocket – it will strengthen the partnership between adviser and client, and powered by Dynamic Planner’s technology, it will drive the future of digital financial planning and advice.”

Tram is currently live with a number of advice organisations, with Dynamic Planner opening up usage to a wider group of early adopters post its annual conference.

The Dynamic Planner Investment Committee (IC) met on Tuesday 23 January, coincidentally called ‘Super Tuesday’ in the US state of New Hampshire, where the race for the White House began with primary elections for the Republican party nomination. In fact, elections are expected to cover around 60% of world GDP over the course of 2024, so plenty for investors to ponder should there be promises of unfunded tax cuts, more protectionism or increased fiscal profligacy. But no doubt the ‘re-match’ in the US will be the centre of global attention.

As the impact of higher energy and food prices has subsided, and supply chains for globally traded goods have normalised, headline rates of inflation have fallen significantly over the course of 2023, but remain much higher than Central Bank targets.

The IC reflected on the still high embedded inflation expectations and the current market fixation about what the US Fed plans to do next with interest rates (following its pause announcement in November). Premature expectations of early and deeper cuts have propelled the S&P 500 to record highs, whilst earnings growth, retail sales and industrial production levels have remained flat at best.

The global economy looks set to slow in 2024, as fiscal policy starts to drag on growth and higher interest rates weigh on household and business activity, with excess savings built up during the pandemic largely spent. By stripping away the impact of the massive fiscal stimulus measures, the likelihood was that the US economy has been in intermittent periods of recession during 2023.

The US and Global government bond yield curves remain inverted, and interest rate normalization is required as high non-transitory inflation expectations persist. With slow growth, lower tax revenue, eye-wateringly high government debt and fiscal deficits, and Central Banks unwinding their balance sheets with QT, there will be a rising supply of bond issuance at a time of declining investor sentiment / demand. Hence the curve is expected to steepen at the longer end, resulting in negative real bond returns into the foreseeable future. The risk of greater economic volatility and a potential global government debt crisis persists, despite recent market optimism.

The IC discussed the potential of AI (particularly generative AI tech) on productivity and employment, with echoes of a potential ‘dot.AI’ bubble, given the 25% concentration of the US stock market in the ‘Magnificent 7’ tech stocks. As AI will help drive robotics and accelerate onshoring, the implications of a diminishing competitive advantage for China and emerging markets were noted.

There were no changes made to this quarter’s capital market assumptions, which follows a consistent process of long-term analysis. In preparation for the annual strategic allocation review later in the year, the IC reviewed ongoing analysis of additional asset classes / risk factors to be potentially included in the model. It continues to ensure that the markets and instruments being used by our asset management clients are accurately represented in Dynamic Planner.

Read the full Q1 2024 analysis from the Dynamic Planner Investment Committee.

By Dorian Raimond, Head of Fixed Income Strategy and Trading, Hilbert Investment Solutions

As we have entered a new regime of higher inflation and higher yields, decades-old templates of portfolio construction might be worth reconsidering. Bonds yields have become more attractive again, while the product seems to have lost some of its diversification appeal. Could structured solutions well come out as the welcomed saviour?

Typical pension allocation follows portfolio theories like Markowitz’s (backed by a few decades of historical evidence), with the aim to balance volatility (‘risk’) and returns by attributing a risk-weighted exposure between equities (higher and more volatile returns), and bonds (less volatile and yielding less, with a defined capped upside).

The lower rates / lower inflation regime experienced since the ‘80s has proven to be a great soil for risk parity and 60/40 portfolio constructions. As many professionals of the sector have reported, the negative correlation of rates and equities during that time was a function of several factors – from the introduction of inflation targeting by central banks which had gained their independence, to deflationary pressure from globalisation, to quantitative easing by central banks after the 2008 financial crisis, and a self-fulfilling market mechanism.

The ‘Everything Rally’ brought on by the years of quantitative easing (QE) began to challenge the theory; correlation between equities and bonds started to turn positive as each shock brought ever faster quantitative easing, leading to longer periods of positively corelated (positive) returns. But returns were positive, and we looked elsewhere. Then, in 2022, came the “Everything Sell-off”. While 2023 was good overall, intra-year sell-off’s saw once again bonds and equities go down in tandem.

What fuelled the success of these strategies is just not there anymore. Those portfolio constructs do not achieve their aim in a regime of higher inflation, since bonds and equities are likely to remain positively correlated.

But inflation is going down, so surely, it’ll go back to normal?

It’s hard to dismiss the case against it. Globalisation is not in vogue anymore and 40% of the world population voting this year is likely to confirm this trend. At the same time, between the exponential growth of public debt on the back of fiscal stimulus, and the quantitative tightening of central banks (reversing their monetary stimulus), bond yields might easily be floored.

Geopolitical tensions remain on the rise and will keep being the tailwind for inflation (and deglobalisation). As long as central banks keep their independence (a debate gaining traction in fact), we should not expect rates to go aggressively lower. Should inflation make a comeback, rates might in fact rise further.

While bonds might not work as a risk offset to equity exposure, the investment itself is still very much an attractive proposition. Especially if corporate earnings start to deteriorate and weigh on stock prices. Bonds just need to be considered for what it says on the tin; fixed income. The great reset in yield has made for more attractive nominal returns for bonds – but also for structured products.

Under a low-rate regime, structured products were mostly for yield enhancement as investors looked for ways to add leverage. But as rates rose, the issuance of structured products rose as well. The higher yield regime created new opportunities for structured products; total or high capital protection.

Structured products are now offering close to 10% return with high capital protection. An attractive proposition versus typical 60/40 portfolios, especially as you get closer to retirement age in a high inflation environment. Such coupons offer a higher chance of a positive real yield on your life-long investment, while the capital protection is key to protect against a 2022 redux.

This has always been the crux of the matter; participating in equity upside, clipping high fixed income coupons, while not risking life-long invested capital, and even more so as one gets closer to retirement age. As portfolio construction itself is not trusted to provide this protection anymore, pension solutions like Hilbert Protect 90 offer 90% capital protection. This capital is invested in equity and fixed income ETFs, and every quarter, returns making for a new high-water mark of investment values are also protected at 90%.

For more information about Hilbert Investment Solutions’ retirement products with capital protection, click here to visit our website.

The value of investments can fall. Investors may not get back the amount invested.
For Financial Advisors only. This is not investment advice.

Dynamic Planner, the UK’s leading digital financial planning and advice platform, has boosted its data analytics offering with two Data Engineer appointments.

Saranya Vadrevu and Rohan Nandi have joined Dynamic Planner’s Data and Analytics Team led by Business Intelligence Manager, Abhishek Vethanayagam. Together they will drive data-led decision making and provide advanced analytics solutions across strategic initiatives. Saranya will lead the development of data services for advice firms, and Rohan will lead the development of data services for asset managers.

Abhishek Vethanayagam, Business Intelligence Manager at Dynamic Planner said: “With a wealth of experience in data engineering, machine learning, and prescriptive analytics, Saranya and Rohan will enable Dynamic Planner to harness the power of data to support strategic decision-making, optimise processes and drive business growth through the development of data services for the industry.

“This year will see us supporting advice firms and asset managers with key Business Intelligence and Management Information, as well as beginning to explore how AI can be incorporated to drive innovation. Rohan and Saranya will play a key role in this and I look forward to moving our plans forward with them.”

Dynamic Planner, the UK’s leading risk based financial planning system has opened registrations for its 12th annual Conference on 5th March at 22 Bishopsgate in the City of London.

This year’s ‘Scaling Success’ themed event, will see hundreds of financial planning professionals attend to hear how they can scale advice businesses through leading, end-to-end technology; scale client data through innovative, integrated systems of record; and scale loyal client bases with good outcomes running through their core.

CEO Ben Goss will provide his annual keynote which will reveal exclusive announcements and the latest news from Dynamic Planner. Delegates will also take away unique and valuable insights from exclusive speakers, as well as from the UK’s leading Chief Investment Officers, analysing today’s outlook for global markets and investment portfolios on the 2024 CIO panel.

Yasmina Siadatan, Chief Revenue Officer at Dynamic Planner said: “Join us at our not-to-be-missed 12th annual Conference for 2024, once again in the heart of City. Come and experience the power of the financial planning community and explore how together we can scale success for your clients, for you and for your business.

“Anyone who has attended in the past knows that our annual Conference always promises to be a fantastic occasion. We look forward to welcoming clients and prospective clients to our Scaling Success themed event on Tuesday 5th March.”

Delegates can register here. Anyone unable to travel to the event can join as a virtual conference delegate, live streaming keynotes and all Main Stage sessions in broadcast-quality. Dynamic Planner’s 2024 Conference agenda can be found here.

Dynamic Planner, the UK’s leading digital financial planning and advice platform, has launched a pioneering approach to single strategy fund mapping.

Available from today, Dynamic Planner’s Single Strategy Mapped Service is designed to assist the advice industry in making the most accurately informed decisions when it comes to single strategy fund selection. The Single Strategy Mapped Service takes single strategy fund selection to the next level, giving advice firms the ability to create diversified portfolios with far greater accuracy, and clearer, more representative risk look-through to ensure suitability.

Through the precise mapping of instrument-level holdings data against Dynamic Planner’s risk factors and Asset Risk Model, Single Strategy Mapped Service provides greater accuracy and efficiency in the use of single strategy funds, and for the first time, with the same rigour as multi asset solutions.

Dynamic Planner achieves this by sourcing single strategy fund holding data directly from fund providers, rather than via third parties at broad asset allocation level, which enables a level of granularity not previously possible. In addition, with the increasing responsibility assigned to fund managers and how their funds are used through regulation such as Consumer Duty and PROD, Dynamic Planner is also able to support the different asset management models that are emerging as a result.

Chris Jones, Chief Proposition Officer at Dynamic Planner said: “As financial markets have evolved and become more complex, we have ensured that we accurately analyse the underlying holdings of the solutions that we risk profile and map them to our risk factors within our trusted Asset Risk Model. Dynamic Planner users who also build advised portfolios have asked for the same level of granularity and we are pleased to be able to support them with the Single Strategy Mapped Service.

“The new service will provide them with a level of granularity not previously possible, greater efficiency and accuracy, and all within one system with a consistent level of risk throughout. However you organise your business and decide to meet the needs of your clients Dynamic Planner can support you.

“From a PROD and Consumer Duty perspective the Single Strategy Mapped Service also enables the fund manager to more simply and clearly communicate whether a fund is intended to be distributed as a solution or part of a portfolio.

“Recent geopolitical events have raised the awareness and importance of things such as duration, cap size and location within a traditional asset class not only amongst our users but also their clients. We hear that being able to view and discuss this using Dynamic Planner has been very helpful with solutions and we are pleased to support single strategy funds in the same way.”

Key Benefits of Single Strategy Mapped Service

The Single Strategy Mapped Service is part of the research journey in Dynamic Planner which continuously evolves to support the needs of users and now includes:

Not a Dynamic Planner user? Schedule a free no-obligation demo with a business consultant and experience the full functionality of Dynamic Planner.