Infinity Circle is creating its bespoke Infinity Tech (™) digital platform and Mobile App, powered by groundbreaking AI and the trustless Blockchain, and mediated by market-leading wealth managers for on demand advice.
Interview with Elisabeth Dana, Founder and CEO of Infinity Circle by Design:
Your company, Infinity Circle by Design, is the first true global wealth management platform being built for the digital age. After two decades in Finance, what was the inspiration behind Infinity Circle?
I practiced the investment trade for 16 years in big banks and family offices and my experience was one of great learning, but also one of a male dominated industry, crippled with conflicts of interest due to financial institutions manufacturing financial products and advising clients at the same time; that of a slow, bureaucratic, opaque, and expensive financial services industry.
Also to date, wealth management with its high barrier to entry for private clients (anywhere between $3m and $10m liquid investable assets is the prerequisite for clients in the major global private banks) means that wealth management still remains an elitist “rich man’s club” although the investment knowledge and access could benefit a wider portion of the market. This is not just my opinion, according to the American Economic Review “a 0.2 increase in standard deviation on a financial literacy score would result in a predicted additional $13,800 in new wealth”.
The cost to serve ratio in private banks explained the elitist approach from a business model perspective, but today’s technology enables us to scale a new value proposition such as Infinity Circle’s in a way that makes economic sense! So my time in traditional private banks gave me the confidence to create a new digital hybrid model that will educate, open up wealth management to a younger and more aspirational client base by giving them access to a wide range of investment opportunities globally.
What are the most important decisions you made along the way in your career which you think contributed to your current success with Infinity Circle?
Moving from Paris to London in 2007, a few months before graduating from the University of Chicago Business school, was one important decision. Joining Barclays Bank in 2007 another. Leaving Barclays Bank in 2014 also! Resilience in the entrepreneurial journey with its fair share of uncertainty, bootstrapping, financial ups & downs where I sold most of my personal assets to kick off Infinity Circle yet another. Resilience during Brexit and now the pandemic. The decision to constantly exercise the self-belief and optimism muscle that all entrepreneurs need.
Infinity Circle is unique as it will be a fully transactional platform and not just a networking tool for entrepreneurs and investors. What are some of the customer pain points or challenges that you are overcoming with your unique solution?
The biggest challenge to date is to ensure that Infinity Circle strikes the right balance, whilst being innovative and a clear departure from the traditional Assets Under Management (AUM) model in the wealth management industry, between international financial regulations and a more fun even “gamified” approach to investing globally. I think on the other hand that clients are ready for this type of solution and even expecting now the new “ubiquitous investing” models.
On the topic of being transformational, you have mentioned you believe it is all about “mindset and how you model your proposition”. What type of mindset do you work towards and how does it set you apart?
I believe that ultimately success is all about mindset: growth mindset, beta mindset as Reid Hoffman puts it. I believe that a “can do” attitude and continuous intentional learning needs to be lived at a molecular level to become a long standing entrepreneur. I am more and more deliberate with my time and my tribe as times goes by, with the money too! A few mistakes in this department have cost me greatly in the past. I analyze my mistakes and consciously train my mind to level up at every move.
Your digital platform and application are built with groundbreaking AI and Blockchain, providing a “highway to exclusive opportunities” otherwise only available to the ultra-wealthy. How does Infinity Circle plan to stay at the forefront of this innovation moving forward? How are you building this unique marketplace?
In the first instance, our selected tech stack is built in an Agile way to enable constant upgrade of its components and API’s to always strive to be cutting edge from a tech stance.
Then, as a team we are structuring a number of ways for younger or smaller private clients to participate in deals on a fractional ownership basis, so that Infinity Circle is truly in a position to be inclusive.
Also, the marketplace is being designed as a vetted community of investors who can interactively shape the proposition and keep it current. This is why the Company’s full name is Infinity Circle by Design Limited!
Beyond your focus on why wealth management is still limited to a small proportion of society, you have emphasized the idea that wealth management is about really getting to know your clients in order to best guide them. Infinity Circle is designed to always maintain a human element. What would this look like when the platform is mainly driven by AI?
And the most important question indeed! True wealth management in my view remains a people’s business so Infinity Circle’s is integrating a level of human touch on the bespoke digital platform as a must. The default settings on the platform allow self directed investing powered by AI however we are growing a team of market leading qualified advisors available for on demand advice. AI will also assist in connecting like minded investors for human interactions. And as we know in business interactions lead to transactions!