Andrea Donadoni is Master in Banking Management SDA Bocconi (2021); Certified International Investment Analyst (CIIA) 2018 and Bachelor’s degree in Banking, Insurance, and financial market University Milan-Bicocca.
Following the completion of my university studies, he started with a job in retail banking, working in the front office. Within seven years he had been promoted to Financial Advisor for Premium Customers. In 2021, he got a position at a financial boutique in Milan as Private Banker, but his dream of becoming an independent Financial Advisor (Fee-Only) was still present. In 2022, he began this experience with Ioinvesto SCF, offering fee-only advisory services to private customers.
What made you want to pursue a career in the financial industry? And what do you find more attractive about working in the asset management industry?
I have always been passionate about financial markets and macroeconomics: analyzing the markets allows you to understand in advance what will happen in the world. There are many aspects that make this work attractive: from meeting your clients to sharing their needs and explaining how we can reach them and spreading financial education. It is an engaging and stimulating job, you never stop learning! I started my career in a retail bank and after only 8 years, I began to serve private clients. I have been a fee-only financial consultant for one year.
What does a normal day look like? How do you divide your different tasks?
I spend my regular day between appointments with clients and studying their investments. I never miss the analysis of markets and financial instruments. I plan my working days in advance in order to be able to manage unexpected events. I know when the workday begins but I don’t very know when it will end.
What is in your view the most important part of wealth management and advisory?
The most important part of the advisory consists in analyzing the client’s assets in order to identify his needs, taking into consideration his risk propensity and his temporal horizons. After this analysis, identify the correct asset allocation, evaluate the macroeconomic context, and reduce the portfolio costs to a minimum.
What are your clients asking for at the moment? And what would you advise in the current situation of the markets?
This year has been so complicated, clients ask me to be their “compass in the storm”; obviously there is a great concern for the general economic context but the goal of a financial consultant is to be a constant support for clients. The best way to manage in this context is correct financial planning and an investment strategy for every market situation. A tip? Always remember portfolio diversification, and reduce costs to a minimum.
Which sectors and geographical areas do you think are particularly interesting at the moment?
I think a correct asset allocation should be based on global diversification in order to reduce specific risks. At this particular moment, I find the bond market interesting. Regarding the stock market, I think Europe is the area with the most uncertainties in the coming months. I’m concerned about inflation’s evolutions and the consequently monetary policies that will be key variables in the coming year.
Have you seen a change in the profile of your clients in the last few years? How would you describe your average client?
I am glad to observe that in the last period people have started to better look at their investments. Nevertheless, there is still a lot of work to be done in terms of financial education. Concepts such as diversification and planning are still not widely known. The support of a consultant is essential to avoid mistakes.
How would you define yourself in 3 words?
Curious, enterprising and stubborn.