In this blog series, we will introduce you to our team. Robbie Reid is the Head of Advice at Ignition Wealth.
We asked him eight questions about his work at Ignition Wealth.
1. Why did you make the decision to work for Ignition Wealth?
Working in a traditional advice business, you meet a lot of people for whom the high cost, highly personalised advice model just isn’t appropriate. Digital advice will go a long way to solving this problem, using technology to get advice into the hands of people who could get a lot of benefit but aren’t served by the traditional advice model.
Ignition Wealth really appealed to me as there is a strong vision to give real financial advice and move beyond the current generation of robo-advice that focuses only on investment advice.
2. What are some of your career highlights/key achievements?
I have been fortunate to be there for a lot of people’s ‘aha’ moments. When they feel like they are in control of their money, often for the first time in their lives.
Building a service offering aimed at Gen Y that wasn’t just trying to sell them some insurance, but real advice to get get their financial house in order.
Winning an award for the best young adviser across the Fortnum network was very gratifying as well.
3. What are you working on right now?
At the moment I am focused on the compliance aspects of providing digital advice. Australia has some of the strongest consumer protection laws around financial services, so it is important for our clients and partners to have the highest confidence that we not only comply with the law, but truly build advice tools that serve our clients’ best interests.
4. What do you enjoy about working at Ignition Wealth?
I am learning a lot. The mindset required for developing software to give good advice is very different to sitting in front of clients giving advice. Learning about the software development process has been eye opening, and the scope to evolve digital advice as the technology continues to improve is really exciting.
5. What are you looking forward to in 2018?
There is a lot of exciting stuff in the pipeline for 2018, but I am really looking forward to incorporating behavioural insights into the advice journeys, and combining different advice journeys to help people achieve their goals.
6. What is your favourite piece of tech?
My iPad is probably my favourite gadget. It straddles the gap between a phone that is too small for serious reading or work and a laptop which is less portable and less user friendly for lots of things.
7. Any book suggestions?
I love reading, so this could be a very long list! ‘Thinking Fast and Slow’ by Daniel Kahneman is a must read if you want to understand why we do all the seemingly irrational things we do. Joe Abercrombie’s First Law trilogy is great if you enjoy fantasy with characters who aren’t the usual stereotypes.
And I think every financial adviser is required to recommend reading ‘The Richest Man in Babylon’, but it is a classic because it is so good.
8. What is the best piece of advice you’ve ever been given?
Don’t believe everything you think.
Meet more of our team with this blog series:
Donna Nicklin, Implementation Lead
Luca Andreoli, Front-end Developer
Mark Hudson, Chief Operating Officer
Louise McLennan, Agile PM
Alan Quinlan, CEO of Ignition Wealth Ireland
Dominique Coulson, Operations Manager
Matthew Lyon, Senior Software Developer
Sebastian Thomas, Developer