Why do so many people fail to meet their financial goals? The easy answer is to say that their lazy, or that circumstances changed, that they weren’t motivated enough, or that they simply bit off more than they could chew. For many Americans, personal financial planning can seem too difficult, or even too boring, to invest much time. Even with personal financial planning software, it can be overwhelming. So what is really going on?
The Problem
Financial planning is typically done by some kind of advisor who gathers and consolidates a person’s information and then uses that consolidation to sell them some investments. Perhaps a mutual fund, or maybe retail investments. Once the sale is made, the advisor has no more incentive to help the client. The client never really understood things personally all that well, so goals are never met. Most people have their finances spread out throughout a huge network of banks, insurance companies, investment brokers, and other institutions. Without automated financial planning and implementation, there is no one place where anyone can access their information and understand it all at a glance. Furthermore, without automated financial planning and implementation, the financial situation of any person tends to remain static and unable to move with changing circumstances. The problem is not that there isn’t enough planning. There’s lots of planning. The issue is in implementation. There is a conflict of interest between advisors and clients, and inability to adapt quickly, and no consolidation of information.
The Fix
The way to change these issues is with automated financial planning and implementation. Only by automation can financial situations keep up with rapidly changing situations. An automated financial planning and implementation software platform allow both individuals and corporations to understand and control their personal or retail financial planning. The software would automate and perform basic tasks quickly, like eliminating unnecessary taxes and automatically applying funds to the highest-interest debts while making sure that no payments go unnoticed. It would make automatic suggestions on what would make a long-term impact on a client’s worth, and work to actively protect assets in real time.
Blockchain and ICO
Blockchain technology would allow automated financial planning and implementation to do away with the middleman and be user-friendly and perfectly integrated into financial institutions, facilitating initial coil offering and distribution of ICO funds and allowing investment in cryptocurrencies and ICOs. Ideally, it would eventually also be able to offer direct insurance policies, trading, lending, and hedge fund management. It could also be helping in escrow services, identity management, data management, and more.
The Future
The world is changing, and the digital world moves so fast that it’s hard for any one human being to keep up with it. The future is automated financial planning and implementation. Automated financial planning and implementation offers a viable way to solve the issues that face American individuals and small businesses in dealing with complicated financial assets and issues.
