In Finance, the Future is Social
Say goodbye: The days of handing over your money—and your trust—to a wealth management adviser may be over. According to a report published last year by Goldman Sachs (yes, some of those very same advisers!), when it comes to finance and managing our money and investments, the future is social. It’s all about connecting, networking, building communities, and taking advantage of innovation and technology to make an impact.
While the road to recovery from the 2008 financial crisis has been long—and is not yet complete—as Goldman Sachs reports, it’s an exciting time to be investing. Here’s why:
- The world has gone social.
If we can share family photos on Facebook and ask for laptop recommendations on Twitter, why should our money be locked away in bank vaults or the stock exchange and our knowledge and information about it be limited to bank employees and stock market advisers? As with many other things, when it comes to money, we don’t have to be alone. Social media and networks, such as Facebook, Twitter, LinkedIn, and others, (and smartphones and widespread Internet access) connect us to people we know and millions of others to whom we might not otherwise have access. This access makes it possible to ask questions, seek out advice, and gather and share knowledge that can help us to make more informed decisions about money.
Social networks also play a role in making processes more transparent and user-friendly. And the network effect means that as more people come to new financial networks and technologies—as lenders, borrowers, investors, ambassadors, and more—the offerings become more robust, with more accountability, a better track record, greater innovation, and more improvements.
- Innovation is paving new paths.
With the most recent financial crisis proving, in particular, that the financial world with which we were familiar was neither risk-free nor infallible, it was only a matter of time before a “disruptive” startup culture hit the financial world. As in many other fields, startups, and some innovation divisions within existing banks and financial companies, are boldly questioning old, entrenched ways of managing and investing money. They are also introducing new, creative options that are more lucrative, user-friendly, and convenient. Some of these are: peer-to-peer lending, automated wealth-management advisers, mobile finance apps, and more.
- Together, we can do more.
If one person is capable of moving mountains, just think how many continents can be moved when people come together. iintoo, like Kickstarter and Indiegogo, harness the power of community to accomplish more. These companies allows networks of individuals “to control the creation of new products, media, and ideas,” according to the Goldman Sachs report, forming a community in the process. It is “disrupting the way films get funded, new products are developed, charitable decisions are made, and venture capital is raised,” says the report.
Individuals can now make a large impact even with small donations or investments. Today, a person can make an investment of just $25,000 in real estate and possibly earn incomparable returns, something once limited exclusively to individuals with millions of dollars in their bank accounts. Entrepreneurs, in turn, can turn to the masses to help make their dreams, visions, and solutions a reality, all without tying up their assets, risking delays or other money-related challenges. As of March 2015, $1.6 billion had been pledged on Kickstarter, with the single-largest campaign raising more than $18 million. Most entrepreneurs don’t have access to those levels of funding through their family-and-friend networks or by bootstrapping!
- Technology makes things easier and smoother.
With smartphones accompanying us almost everywhere we go, the stacks of paperwork that we get from banks, credit card companies, and other financial institutions are so passé. Mobile apps and websites from banks and a variety of new fintech startups not only make it possible to perform all sorts of transactions, but also make doing so simple, convenient, quick, and free or cheap. These days, it’s possible to pay bills, transfer money to friends, invest in verious projects, and even get advice from an automated financial adviser from any place, at any time, with just a few taps on a smartphone.
Linking to social networks, such as Facebook and LinkedIn, and other accounts makes transactions simple and secure through verification. Do you owe a friend some money? No need to write a check and send it by mail; instead, just go through your list of Facebook friends and select! And technology supports, facilitates, and encourages the creation of community in the socialization of finance.
iintoo is proud to be part of the trend of socialization that is revolutionizing the world of finance and money. iintoo’s platform provides its investors with a personalized yet social user experience and implements innovative technology so that its investors can focus on investment.
In addition, we are a team of professionals with decades of knowledge, know-how, and experience in the real estate industry. Each investment goes through a due diligence process with the purpose of mitigating risk and maximizing investors’ potential profit. We provide an A to Z service, from locating quality investments and providing ongoing updated information, as well as making sure that our projects meet their pre-approved business plan milestones.
Coupled with new technology, innovation, and social networks make investing in real estate safe, easy, accessible, and, most importantly, highly rewarding for individual investors. Even with limited assets, individuals can make a great impact and earn tremendous returns. Plus, in the process, they can join an equally rewarding social network and community of investors.