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In the world of finance, wealth management has often been associated with exclusivity, catering primarily to affluent individuals. However, there is a rising demand for accessible financial services that empower individuals from all walks of life to take control of their wealth and build a brighter financial future. 

Selma is on a mission to improve people’s approach to their finances by making wealth management accessible to everyone. In this interview, we will delve into how Selma vision is transforming the landscape of wealth management. We will explore the unique strategies, technologies, and community-centric approach that Selma employs to empower individuals and make their financial aspirations a reality.

How does Selma break down the barriers to wealth management for individuals of all income levels?

First and foremost, we decided to open up wealth management for everyone by designing individual investment portfolios that work from a starting amount of 2’000 CHF. Monthly top ups can be as low as 100 CHF, which allows individuals with a low monthly savings sum to build up a savings habit.

Using technology and algorithms helps keep the costs low on overall investment management and allow us to spend human resources where it matters – customer care. 

Currently, we are building automated financial advice as a feature in our mobile apps – this is what exclusive wealth management firms tend to charge high fees for, but with the help of data, we are able to give our clients individual tips that help them improve the structure of their wealth whenever they need.

Last but not least: wealth management has always tried to stay exclusive by using complicated jargon. We are trying to break up this pattern and make sure everything we do is designed with the end customer in mind. No matter how much investment knowledge you have – at Selma you will understand what’s happening and have no problem using our product by yourself.

What innovative technologies does Selma utilise to make financial planning and investing more accessible?

Selma has developed and its digital advisory and planning features. These are based on smart algorithms that assess many data points in the financial life of our customers. Using the data, Selma can then automatically recommend how to improve one’s finances – without the customer having to book a call and talk to a human advisor.

Selma also uses state of the art technology to cover trading automation to keep costs low and has a talented in-house UX and development team who make sure interfaces are intuitive and easy to understand – for investing beginners and pro alike.

Can you explain how Selma’s community-centric approach fosters a sense of inclusivity in wealth management?

We have an own platform dedicated to interacting with our client community – this is where we share wireframes, questionnaires, invite clients to interviews and ask for feedback.

Customers can see that their feedback is taken into account – they see features they voted for moving along on a public roadmap and can take an active part in shaping the product. 

Furthermore, Selma hosts events for the community – inviting external speakers to educate participants about important topics when it comes to financial planning, saving and investing. Those who participate also get to talk to the Selma team and can always deposit their thoughts or ask their questions directly, in person.

How does Selma customise investment strategies to meet the unique goals and needs of each individual client?

Investment strategies dynamically adapt to the financial situation of the client, e.g. when their income changes when they buy a house or when they simply go through changes in their life that impact their finances.

All of these changes affect the “risk ability” – how much risk a client should take when it comes to investing their money. Selma creates strategies that fit to the unique risk level a client has. Risk ability also includes the investment horizon, age, and other data points that make up the “investor profile”.

What sets Selma apart from traditional wealth management services and how does it benefit the average investor?

Selma offers a holistic view and high quality of advice for people who aren’t millionaires. 

By using technology this can be offered at a fraction of the cost of a traditional wealth provider. Furthermore, Selma bets on the fact that there is still a big gap when it comes to digitalisation in the industry.

The average investor can simply open an account, get their individual strategy, advice on how much money to invest and get started. Investors with a more complex financial life have the option to talk to Selma’s expert team to get help in setting up their wealth. 

In both cases, Selma automatically checks in when she detects possible improvements in the wealth structure.

Can you share some success stories of individuals who have achieved financial growth and stability through Selma’s services?

We have different kinds of clients at Selma:

  • First time investors who found the confidence to build wealth for their future through Selma
  • Clients whose finances were a mess (different products put together without a strategy)
  • Clients holding too much or too little cash, losing money due to inflation

We interview clients to highlight their success stories on our blog. You can find Sophie’s story here.

How does Selma ensure transparency and trust in its wealth management practices?

Selma is an independent provider and can thus select products independently.
Selma has a no-kick-back-policy and earns its money from clients and not from product providers.

Transparency is one our core values that we live and breath – towards clients, but also internally as a company

Can you elaborate on Selma’s approach to risk management and how it helps clients navigate the investment landscape?

Risk and portfolio are customised to the unique situation of every single client. Clients do not need to know a lot about diversification or investment products to get started.

From 2’000 CHF onwards, Selma creates individual, global investment strategies using ETFs that match the risk level a client has.

Then, whenever markets shift, a client’s life changes, a bigger deposit arrives in their account, or the start a monthly plan Selma adapts the strategy while keeping trades to a minimum and optimising portfolios for long-term growth.

Clients can lean back and don’t have to follow markets every week – Selma does this rebalancing automatically, based on data.

What future developments can we expect from Selma to further enhance accessibility in wealth management?

Further developing digital advice into new topics. Currently, Selma can give detailed advice on how much money to invest, how to invest your money, how much to invest monthly and how to invest a bigger cash sum over time. The next step is to identify other important tips clients need to set up their financial life for success.

Solutions for families – finances are often family business: clients want to start investing for their children, couples want to have a separate shared account to save towards a future investment. All of these investments need strategies that fit their purpose and the risk levels associated with them.

Join the Selma community and embark on their mission towards financial empowerment. Discover how Selma vision to help user achieve your goals, make informed investment decisions, and build a secure future. Learn more on their campaign page.