Azimut: Beewise expresses its commitment to empowering the aspirations of a new generation of investors. The company is dedicated to assisting individuals in saving and investing gradually, enabling them to achieve their life goals in a practical and smart way. This approach not only positively influences their future but also contributes to the betterment of the world.
Identifying a substantial gap in the market, Beewise observed that numerous young individuals expressed interest in investing but faced challenges due to unclear starting points or barriers. Through collaboration with Azimut, an opportunity was recognized to cater to the demand for enhanced accessibility in investment options for the younger demographic. This initiative aims to empower individuals seeking to take control of and enhance their personal finances.
Solution / Technology
The saving and investment Beewise app showcases a Personal Finance Manager (PFM) tool aimed at assisting individuals in taking greater control of their personal finances, leading to increased savings. It offers five thematic portfolios for investment, each available at three distinct risk levels, all incorporating ESG criteria. The portfolios are managed by the Azimut Global team, renowned for over 30 years of experience. The app adopts a goal-oriented approach, tailoring investments to align with individual financial objectives. The commitment extends to guiding users throughout their financial journey, from initial saving stages to investment for growth. Additionally, for those inclined to align their values with investments, there is an option to contribute 1% of their investments to reforestation.
- Millennials (age 18-35) have a different investing pattern than the baby boomers or generation x. According to Accenture, millennials are set to inherit the biggest wealth transfer in history, amounting to an estimated $30 trillion over the course of 30 to 40 years.
- 64% of the global population used at least one fintech app in 2019. (EY)
- Fintech firms resonate more with younger generations. Among those aged 18 to 24, 51% put their trust in fintech entities, and 49% of those aged 25 to 34 do the same. In comparison, traditional banks secure the confidence of only 39% and 42% of these age groups, respectively.
- Especially in the last two years, the number of people investing in the stock market is slowly increasing, particularly among those under 30.
- The Financial Services Global Market Report 2022 forecasts the sector will register a compound annual growth rate (CAGR) of 9.6%, making the market worth $37 billion by 2026.
- The global wealthtech solutions market was valued at $4.8 billion in 2021, and is projected to reach $18.6 billion by 2031, growing at a CAGR of 14.8% from 2022 to 2031.
- Compared to the US, the market in Europe is immature due to high fragmentation, stricter legislation, lower disposable income, the tendency for saving, retirement programs dependent on the pay-as-you-go scheme, and limited access to ETFs, a product suited for retail investors.