As I woke up this morning, enjoying my favorite first coffee, Brooke chanted out my usual financial summary I have now become accustomed to. Nothing special nowadays. She beamed up the key figures right in front of me over the kitchen table, all my accounts, my two portfolios, all non-financial assets with derived appraisals on my real estate, my home and holiday appartment, the latest estimates on my stamp collection, even one on my old books collectables. Nothing had moved significantly lately so Brooke was fairly calm.
However, she did give me some alerts! She noticed I had been been conducting some keen internet research on a brand new BMW and heating system for the appartment. Up flew a full analysis, three possible financing options. According to her, I could half finance the BMW if I sold my old Golf at the estimated market value and sell two stocks I had made good gains with in my portfolio that were now sell rated. In addition she reckoned the purchases would come at no additional expenditure since the heating system could be deducted from my taxes. That’s what I loved most about Brooke, she was constantly doing my taxes for me!Did this happen in 2017? Not quite. Brooke, my personal financial fembot hasn’t arrived yet. 2017 didn’t quite bring the disruption some might have expected, but it did hype up enough exitement as to what could come, slogans not all organisations are to comfortable with, like open banking, blockchain, digital transformation.So what will 2018 bring? Is full scale robo-advice combined with AI on the rise, is blockchain going to blockbust the financial industry? Well probably not as fast as we think it will, but probably faster than we might expect. In fact, it might even slow down at first as with every new beast, the panic to control and regulate will take overhand. The new beast is regulation, regtech a possible but expensive way get a handle on it.Nevertheless, Brooke is coming eventually and I can’t wait to meet her. After all, she will probably know more about me than I do!