Filippo Stefanelli plans to use a strategy of “teach and trust” in his new role as the CMO of Moneyfarm.
Moneyfarm is a digital wealth management platform with over $2.2 billion in assets under management. It recently partnered with M&G to launch an app called &me, offering access to investment products and bespoke advice.
The marketer, who started in the role in January, returns to Europe after four and a half years working as the CMO of another wealth management platform in Singapore.
During that time he helped to scale the company across five countries in south-east Asia and the middle east. Filippo says his experience doing this showed that “having sound and cost-effective investment solutions that deliver superior results can ignite incredible growth.”
He argues that the opportunity in Europe is greater because the market is less fragmented and “there are trillions of wealth sleeping under the mattress or being deployed in not so ideal investment vehicles”.
The goal overall is to make Moneyfarm the “centre of a holistic wealth experience”.
“In theory and in practice [customers can] see Moneyfarm as the one-stop solution for all their wealth needs.”
As CMO, he views his role as communicating with customers in a way that connects to their emotions.
“When it comes to money, emotions are very, very strong,” he says. “When everybody is panicking you can do the opposite of what you should do. Most people are not buying low and selling high – you see exactly the opposite.”
Filippo highlights Moneyfarm’s strong team of investment advisors.
“This is a resource to be leveraged in order to help navigate complex emotional conditions on top of a best-in-class asset allocation team to deliver superior long-term results.”
The plan is to position the brand to reflect this. Much of this will be achieved through content, encompassing blogs, on-demand courses and video content.
He calls the strategy “teach and trust” – using content that engages and educates the customer.
“Let’s be honest, nobody has ever told anybody about money when they are in high school or when you are in a university setting, unless they do economic topics. So people arrive on the job market without any idea whatsoever what a budget is or what they need to do with their own money.”
Filippo says even the most sophisticated customers are probably overcharged.
He says Moneyfarm, by contrast, “operate[s] in a very transparent and completely different framework.”
