External Future Forces Affecting Financial Planning 2015-2025

Rachel Hatch@Rachelkeas

Context about IFTF

• Independent nonprofit research group based in Palo Alto, CA adjacent to Stanford

• Key research in global food outlook, ten-year forecast, health horizons, tech horizons

• Not predicting, forecasting: plausible, internally consistent, provocative view of what might happen ten years out

Ten-Year Forecast Clients (partial list)

Methodology

4 External Future Forces

• Monetizing Personal Data

• Quantifying Social Capital

• Leveraging Idling Assets

• Augmenting with Affective Tech

Foresight: Monetizing Personal Data

Monetizing Personal Data

Signal of Change: Tsu

Foresight:Monetizing Personal Data

• Insight: Expect clients to get both more suspicious and more savvy about privacy

• Insight: Anticipate new tallies, new accounting systems to make sense of micropayments

• Insight: Look for the personal data conversation to move earlier in the lifecycle

Foresight: Quantifying Social Capital

Quantified Self

Signal: Trov• What: a technology

provider focusing on property and asset management. It catalogs & tracks all your belongings and their current value, making it easier to insure, sell, donate & share what you own through your phone.

• So What: it is being called “the personal cloud for everything you own.”

Signal of Change: Klout

Signal of Change: Thunderclap

Foresight:Quantifying Social Capital

• Insight: Expect XY clients to see the future value of present networks

• Insight: Look for new measures of ROI in personal networks

• Insight: Anticipate real-time behavior change based on network behavior or influencing potential

Foresight: Leveraging Idling Assets

Signals of Change: Uber, Airbnb

Toward the 3-Business Card Life

Blending of Commercial & Domesticwith “Demand Data” for hosts

Foresight:Leveraging Idling Assets

• Insight: Look for new balance sheets in which depreciating assets become revenue-generators

• Insight: Watch for the rise of the micro-entrepreneur and the blending of commercial & domestic

• Insight: Expect more complexity and stopgap measures for cash flow and retirement planning

Foresight: Augmenting with Affective Tech

Affective Technology

Signal of Change: Kinect for Xbox

Signal of Change: Us+

Foresight:Augmenting with Affective Tech

• Insight: Design new processes for client service delivery to include emotional feedback loops

• Insight: Expect sensitivity around data privacy and surveillance of emotions

• Insight: Improve “soft skills” via this emerging technology

4 External Future Forces

• Monetizing Personal Data

• Quantifying Social Capital

• Leveraging Idling Assets

• Augmenting with Affective Tech

What’s Next?

• 2025 Financial Planning Clients Wednesday, Feb. 11 at 1pm eastern/10am pacific

• Hacking the Future of Financial Services: A Prototyping F2F Session in Minneapolis Friday, March 13 3-5:30pm central, followed by happy hour

• #HackFinance4XY, a F2F event organized around FPA NorCal Wednesday, May 27th 5:30-6:30pm pacific