“The trouble in financial services is a bit like the medical world.

Most people don't know what’s the best medical procedure, or combination of drugs and medical procedures that they need to access.

Finance and the financial markets, move fast. They're complicated. They are interdependent. There's lots of products and solutions out there, and I don't think the right way to solve this is to say, here's a menu of financial products, what would you like?

I think you need to say, let's get cost-effective access to the right set of solutions and products out there. Then you really need a transformation function manned by some capability, whether that's machine learning or human or some augmented combination, to construct solutions for individuals.The idea is to take inputs, transforming them to construct solutions. These solutions can be for institutional money. But with technology, there's no reason you can't move them all the way retail.

So, in other words, the idea is that you have to transform. You can’t just go to your financial planners and say, tell me about your personal account portfolio. On the off chance that they actually manage to get it half right, their recommendations are unlikely to meet your specific requirements as you have different financial objectives and risk appetite from theirs. So I think it's a function that needs to be, like medicine, intermediated by a group. That group then needs to be aligned, right?

You need to avoid groups that use opaqueness to extract fees. That's really what you don't want, so you need to have them in a sort of profit-sharing arrangement.

Rather than a product selling world in which we live today.”

There has to be a better way.

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