Shaping a new generation of trust investors
2 min read
At the heart of the boom in e-commerce are the millennials and Generation Z, who are now estimated to comprise some 70% of the Philippine population. This demographic now accounts for a majority of the market, and is driving the growth of all things online. Yet their financial habits make them a challenging proposition.
The Trust industry, as with most other businesses today, is quickly evolving towards digitization by investing and rolling out digital/online capabilities and creating an easy customer experience, with greater focus given now on the growing number of investors who are millennials and Gen Z.
Yet for all the tech-savviness and preference of this demographic to do personal investments online, the Trust industry would best serve this generation well by also elevating their financial literacy in the process. Their natural grasp of technology and ability to harness its vast potential notwithstanding, it all starts with enabling them to fully understand the potential — and promise — of investing correctly. Shaping this new generation of trust investors means helping them fully understand the risks involved while elevating their knowledge of making their money work for them with products like Unit Investment Trust Funds or UITFs.
In general, there is a growing level of interest on investing in products such as UITF but there are some hesitations. Maricar Lopez, Security Bank trust officer and former Trust Officers Association of the Philippines (TOAP) board member, reveals that “a greater number of Filipinos still prefer to take care of their funds by placing in the traditional time deposit products, taking comfort that their funds have a maturity date. On the other hand, there are those who are searching for much higher return on their investments and instead are weighing the option of participation in corporate bonds and in buying government securities.”
The beauty of today’s investment environment is that there are plenty of products to be…
BusinessWorld
2023-04-16 21:00:35
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