When we started Advicement, we listened to our friends and family and learnt that they weren't saving because they did not know where to start. Some of them mentioned that they weren't comfortable trusting a financial advisor with their money due to the lack of transparency and the high fees in the industry. As a result, they were keeping their money in a bank which did not beat inflation, meaning they were losing money in real terms.
Others liked the idea of taking control of their savings by doing their own research and investing themselves. Unfortunately, due to the countless available investment options in South Africa, they weren't sure which products were right for them and soon gave up on the idea.
Another group understood the importance of saving and liked the passive investing approach, but did not have the right skills to construct their investment portfolios optimally.
By listening to our friends and family issues around saving and investing, we decided to build Advicement: an online platform which offers managed passive investment portfolios at a fraction of the cost of a typical financial advisor.
Our company mission is to give everyone an opportunity to reach their financial goals, through investing and saving, irrespective of their financial position or economic status.
Advicement was started by Igor Rodionov in 2015 after he resigned from his job as a quantitative analyst at an investment bank in South Africa. During his time at a bank, Igor was rated as a top 6 analyst in Quantitative Analysis and Risk Measurement categories according to the local Financial Mail Ranking the Analysts survey in 2015. He also travelled to New York to attend an international workshop called ARPM Bootcamp which teaches quantitative techniques in a field of advanced risk and portfolio management. In fact, this is where the idea for Advicement was conceived and began to develop. In his spare time, Igor enjoys lecturing a South African Financial Markets course at the University of Witwatersrand in the Advanced Mathematics of Finance Programme and plays various sports when he is not busy managing Advicement.
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