Citi launches Schroders investIQ for wealth management clients

JAKARTA (IndoTelko) - Citi and Schroders announced the joint launch of investIQ on the Citi Wealth platform in selected markets across Asia, Middle East and Europe.

investIQ, a digital tool developed by Schroders alongside behavioural scientists, combines the science of behavioural finance and investment education, which will enable Citi clients to better understand how their personality could impact their investments.

It will be exclusively available to Citi clients in Singapore, Malaysia, United Arab Emirates, the United Kingdom, Thailand, Indonesia, Philippines and Poland in the first half of 2019. It will be gradually rolled out in more Asian markets in the second half of 2019.

investIQ analyses the user’s investment personality, strengths and weaknesses, which will ultimately help them make more informed, well-rounded investment decisions. At the core of it is an analysis tool that categorises users into four investment characters and shows them how they measure against nine behavioural traits. This will encourage users to think more critically about the decisions they make, and avoid obstacles that could hamper them from achieving their financial goals.

The collaboration between Citi and Schroders in offering this innovative client-centric tool underscores our collective efforts to better serve end-investors, helping them stay focused on their long-term investment objectives. It also reiterates Schroders’ commitment in working with on-the-ground partners to tailor services, solutions, and information that fit the local client’s needs.

investIQ will be available for the bank’s Citigold and Citigold Private Client1 value propositions, which cater for clients with assets from around US$100,000 to US$10 million.

Paul Hodes, Citi Head of Consumer Wealth Management, Asia Pacific and EMEA, said: “This is another example of Citi partnering with leading global investment managers to offer market-leading value propositions to enrich the client experience. We continue to invest in wealth management tools to support our clients, and we are honoured to partner with Schroders on investIQ.”

Lieven Debruyne, CEO, Asia Pacific, Schroders said: “Enabling investors to explore the impact of  emotions in investment decision-making and providing them with strong educational content is crucial in helping them set proper investment goals. We are pleased to partner with Citi to offer this digital tool to their clients in Asia and globally, as we believe this is an effective channel to improve their awareness, knowledge and behaviours necessary to make sound investment decisions. As a leading global investment manager, Schroders is committed to bringing relevant and innovative solutions to investors and be the trusted expert they can rely on for their long-term investment needs.”

Upon completion of the investIQ test, users will be able to download a detailed report on their investment personality. The three-page report will outline their strengths and weaknesses, and provides tips on how to better manage any behavioural pitfalls they may have.

Users are also provided with a score of how prone they are to each behavioural trait as well as how this compares to the wider universe of people who have taken the test.(es)