EarlyCareer:


True, ARM is much bigger, and are also pension managers. Good that they are doing this. As I said, i am yet to see Morgan capital's own. Maybe because they are stockbrokers and sell some bonds here and there....I might be wrong, and would also appreciate the correction

lack of or generally unclear regulations plague this sector. With time, and better people at the helm of affairs, things might improve, I guess.

ARM is still the best in my own opinion, very fantastic customer service.

DaBogu:
ARM is still the best in my own opinion, very fantastic customer service.

Sure. As long as you are satisfied with them, no need to change.

EarlyCareer:


True, ARM is much bigger, and are also pension managers. Good that they are doing this. As I said, i am yet to see Morgan capital's own. Maybe because they are stockbrokers and sell some bonds here and there....I might be wrong, and would also appreciate the correction

lack of or generally unclear regulations plague this sector. With time, and better people at the helm of affairs, things might improve, I guess.

Very true. For the fact we are having this conversation is due to lack of clear regulation. CBN has not issued clear regulation on fintechs which is why they are acquiring MFBs to operate with their license. Regulators need to step up

EarlyCareer:


This is correct. Although, Morgan Capital have never sent me this...or maybe I am misunderstanding the context again.

Well, your views are respected. You contribute your wealth of experience here, you are not perfect but I also learn too, but I think this is an aspect we do not need to reach any agreement.

Let people do what their risk appetites agree with.

I don't know the services of Morgan Capital Group that you use. For me, I deposit my money in my account with them and use it to buy stock by myself. The only thing they do for me is to provide a vehicle "itrade" through which I trade or invest and I pay them for it by way annual payment of N2,500 and their commission on any transaction I made. They do not invest my money for me or trade with my savings and pay me interest. So I have never bothered to look for or ask them for their result. I only expect to see any amount I left unspent in my stock broking account whenever I open it.

For Stanbic IBTC Asset Management and United Capital, I entrust them with my money to invest for me. So I requested for their report on Monthly and quarterly basis.

freeman67:


I don't know the services of Morgan Capital Group that you use. For me, I deposit my money in my account with them and use it to buy stock by myself. The only thing they do for me is to provide a vehicle "itrade" through which I trade or invest and I pay them for it by way annual payment of N2,500 and their commission on any transaction I made. They do not invest my money for me or trade with my savings and pay me interest. So I have never bothered to look for or ask them for their result. I only expect to see any amount I left unspent in my stock broking account whenever I open it.

For Stanbic IBTC Asset Management and United Capital, I entrust them with my money to invest for me. So I requested for their report on Monthly and quarterly basis.

Good how you explain your use of Morgan and of UCAP and stanbic.

I use Morgan solely for their itrade and how convenient and cost effective they are in terms of fees. As you rightly said, they are a "vehicle" for you to directly access NSE. They also help people buy savings bonds, govt bonds and a few other securities.

Many of these fintech are "vehicles" to access some of the above mentioned and more. For US stocks, I use them as a vehicle, as they connect me through their broker-dealer arrangement. Quite similar to Robinhood or TD Ameritrade or Trading 212.

As for stanbic and United capital, one cannot go wrong using them. Personally, I use stanbic too for mutual funds. Also for TBs. As much as I am open to innovation, I still prefer brick and mortar methods to access them.

That being said, I agree that piggvest needs to do more in terms of full financial disclosure.

EarlyCareer:


This is correct. Although, Morgan Capital have never sent me this...or maybe I am misunderstanding the context again.

Well, your views are respected. You contribute your wealth of experience here, you are not perfect but I also learn too, but I think this is an aspect we do not need to reach any agreement.

Let people do what their risk appetites agree with.

Morgan capital does not have a mutual fund,

emmanuelewumi:



Morgan capital does not have a mutual fund,

I do not think I said they have.

Tobex4realTobex234:
I can't count how many bank employees have resigned in droves and moved to start working for Fintech.

I like what Fintechs have done to the employment industry sef. I been know say those years GTB and co with all their money go they pay devs 300k. As Fintech showed up, people moved in droves

"First because of the kind of innovative projects they get to work on" and
Secondly the possible reward of doing something innovative. Guess who is laughing last now??

Flutterwave is now valued more than UBA, First Bank Holdings, Access Bank, Stanbic IBTC, and most banks except GTBank and Zenith Bank in Nigeria.

Flutterwave is just a 5 year old company

Compare apples with apples.

Flutterwaves assets, equity etc are denoninated in dollars and not in Naira

Flutterwaves has been consistently raising capital through equity in the last four years, GTB and other Nigerian banks have not done that in the last 13 years. So you expect the valuation to increase astronomically.

GTB and Zenith Bank made profit after tax of over N200 billion or about $500 million in 2020, not sure if Flutterwaves can make profit in the next 5 years.

Informed investors know that Nigerian banks are dirt cheap, they are among the cheapest in the world. Most are selling at 40% of their intrinsic values.

First Bank is valued at about N200 billion in the stockmarket, ask yourself will the owners sell at that price

seyisanya:
Analysis paralysis will eventually paralyse some people's journey to wealth creation. Yes, due diligence is very essential. However, when you're too sceptical about everything, you will end up doing nothing to achieve financial freedom. There is no need to re-invent the wheels when it comes to investment; simply do what wealthy people have successfully done over the years.

Determine your risk appetite and go for what works for you:

Low Risk = Treasury Bills, Mutual Funds, Fixed Income, Bonds...
Medium Risk = Real Estate Ownership, REITs...
High Risk = Stocks, Establish a business...

Putting your money in a venture that promises a 10% per month return shows how greedy you are. In fact, it's a waste of time to do any due diligence in this case. It's simply a no-no! 120% per annum!! Haba!!! And we should stop deceiving ourselves with the phrase ''the money you are willing to lose'' - what does that even mean? Even if you're a billionaire, why should there be a percentage of your riches that you're ready to lose?

One of my mentors always says: If you're too careful, you'll be careless!

There is a difference between calculated , well informed risk and outright blind stupidity in the name of high risk appetite.

Kuda is not a portfolio bank right? They are a microfinance bank.
I don't know about the others but I think kuda is popular with diaspora because of its options that allow easy remittance.

richforever123:


I use Kuda too, this Fintech is so customer centric, for example if when I use GTBank and have a disoense error, I have to call, follow up for weeks, go to the office and shout before my money is refunded, however with Kuda, the money is refunded automatically without me calling, Kuda wil also let you know when the reciepient bank has received the transfer, these Fintech also hold online seminars and give financial advice

I am not advertising them or saying ab=nyone should use or invest in them, they are licence by the CBN and promoted by the Vice President to fill up the gap the financial institution cannot fill, they are target at the young Nigerians and Millenials

Also their rates are not outrageous, Cowryrise offers the investment offered like the SUKUK bond, although there are other Fintechs popping up that are shady like Stashbox.ng and the likes, those ones may likely go bust

Afromentalist:


There is a difference between calculated , well informed risk and outright blind stupidity in the name of high risk appetite.

Very true. That's why young investors need to understand what they are doing and not get carried away with the fact that they're still young so they can take higher risks. Hence, they get involved in all sort of Ponzi schemes and buy any coins in the name of crypto investment.

seyisanya:
Very true. That's why young investors need to understand what they are doing and not get carried away with the fact that they're still young so they can take higher risks. Hence, they get involved in all sort of Ponzi schemes and buy any coins in the name of crypto investment.

Ada, KLM, xrp and trx are very good coins and Crypto is not a ponzi scheme, I am a living testimony. Yes pie is another good Investment, you don't need any money. check my signature to sign up

Pls guys I need to confirm if is true that uba bank gives 4% interest on savings account. pls anybody using it?

emmanuelewumi:


Compare apples with apples.

Flutterwaves assets, equity etc are denoninated in dollars and not in Naira

Flutterwaves has been consistently raising capital through equity in the last four years, GTB and other Nigerian banks have not done that in the last 13 years. So you expect the valuation to increase astronomically.

GTB and Zenith Bank made profit after tax of over N200 billion or about $500 million in 2020, not sure if Flutterwaves can make profit in the next 5 years.

Informed investors know that Nigerian banks are dirt cheap, they are among the cheapest in the world. Most are selling at 40% of their intrinsic values.

First Bank is valued at about N200 billion in the stockmarket, ask yourself will the owners sell at that price

All your points are valid. But what exactly do you mean by Apples to Apples. I agree that traditional banks have a weaker valuation, and that's not only an issue with the financial space.

Tesla is currently valued at 700bn and Ford at 160B. Instead of whyning around, Ford has planned to go electric by 2035.

Even the so called Nigerian banks are scared of Fintechs and they are restructuring to catch up, so yes they may be declaring all these huge profits today, but it isn't sustainable. Even Segun Agbaje thinks so.

If GTBank is scared, abeg what's the hope of them Unity Bank and co?

Tech grows at a geometric progression and not arithmetically like brick and mortar. If the CEO's of these banks are already scared that Fintechs is eating into their launch, do you still think Zenith will be declaring billions a decade from now if they don't sit up and embrace innovation?

Sterling launched I-invest. GTB launched Habari. So the big boys in banking are the ones leaving to launch Fintechs. Here is a sample profile.

The lunch will soon be over for the traditional banks that refuse to innovate. They will die. Yes, they are not immune to disruption.

Nokia died. Blackberry died. So all these FUGAZ or whatever you people call them, will die except they react quickly with the innovations from these Fintechs.

SteveOfu:
Ada, KLM, xrp and trx are very good coins and Crypto is not a ponzi scheme, I am a living testimony. Yes pie is another good Investment, you don't need any money. check my signature to sign up

Kindly read the comment you quoted again. I did not imply that Crypto was a Ponzi scheme.

Yungmil:
Pls guys I need to confirm if is true that uba bank gives 4% interest on savings account. pls anybody using it?

Yes, their assets management wing United Capitals

Talk about investment red flags, this is a timely and appropriate video. Just released about an hour ago.

If you have 15 minutes and some data to spare, this video summarizes all the ongoing conversations in the past hours.

Enjoy!


https://www.youtube.com/watch?v=WaklX3duLko

Tobex4realTobex234:
The lunch will soon be over for the traditional banks that refuse to innovate. They will die. Yes, they are not immune to disruption.

Nokia died. Blackberry died. So all these FUGAZ or whatever you people call them, will die except they react quickly with the innovations from these Fintechs.

You need not to should it, they will die. ATM machine and ATM cards where also discussed on this thread and I remember how many kicked against it but today, half the people on this thread own one.

I think you guys are digressing. The conversation is the about the credibility of investments (as offred by fintech) and not wether they would replace banks un core banking services. Nobody has raised an issue against the likes of Kuda bank or flutterwave here.

Tobex4realTobex234:


All your points are valid. But what exactly do you mean by Apples to Apples. I agree that traditional banks have a weaker valuation, and that's not only an issue with the financial space.

Tesla is currently valued at 700bn and Ford at 160B. Instead of whyning around, Ford has planned to go electric by 2035.

Even the so called Nigerian banks are scared of Fintechs and they are restructuring to catch up, so yes they may be declaring all these huge profits today, but it isn't sustainable. Even Segun Agbaje thinks so.

We have been there before during the dot com, when 900 and above earning multiples was the normal.

Unfortunately for every dot com the became Apple, Microsoft, Amazon etc thousands failed and investors lost fund.

We are not asking for too much by asking investors and customers to do their due diligence, especially for those fintechs who asks for deposits that will be safe locked for 180 days and above

The private equity investors who invested in Flutterwaves must have carried out rigorous due diligences before they invest, the promoters must have kept records, must be transparent, they must have created structures and systems in the business.

Valuation of a business does not determine the scale, profitablity, sustainability or cash flow of the business.

Valuation are driven by pessimism, optimism, fear and greed. Intelligent investors look for value and margin of safety in all these

Tesla has earning multiples of about 1000, I want to believe the company has been growing her earnings by 1000% in the last 5 years and will continue with that for the next 5 years, after which I believe it will start having the cash and making the profit. Time will tell

afroxyz:
I think you guys are digressing. The conversation is the about the credibility of investments (as offred by fintech) and not wether they would replace banks un core banking services. Nobody has raised an issue against the likes of Kuda bank or flutterwave here.

God bless you

Today’s daily.

It’s always difficult accepting change and innovation. Do what works for you. At the end, we all strive to make progress and build our individual portfolios in ways that best suit us.

jobark:
Today’s daily.

It’s always difficult accepting change and innovation. Do what works for you. At the end, we all strive to make progress and build our individual portfolios in ways that best suit us.

Can you find any of the fintech fund managers there?

seyisanya:
Talk about investment red flags, this is a timely and appropriate video. Just released about an hour ago.

If you have 15 minutes and some data to spare, this video summarizes all the ongoing conversations in the past hours.

Enjoy!


https://www.youtube.com/watch?v=WaklX3duLko

Thanks for sharing this

Lazyyouth4u:


Can you find any of the fintech fund managers there?

Look well. Piggyvest is there. Odunayo Ewenyi, I think.

You should also consider the fact that these fintech "fund managers" have been able to thrive without numerous branches and staff scattered around Nigeria, hence very very low operating cost, which might be the reason for their good interest rates.

A small office on the island is giving top banks a run for their money. Interesting to think, right?

afroxyz:
I think you guys are digressing. The conversation is the about the credibility of investments (as offred by fintech) and not wether they would replace banks un core banking services. Nobody has raised an issue against the likes of Kuda bank or flutterwave here.

I do not think tobex is digressing...discussions about credibility of investment will eventually trickle down to the big picture - how long would they last? Or grow?

This discussion is over flogged already though.

Lazyyouth4u:


Can you find any of the fintech fund managers there?

The fintech in contention is what largely promoted the upload.

Odunayo Eweniyi - 3rd Row, 4th from the right.

Amongst others include founders of farmkart, flutterwave, paystack et all

As I said in an earlier post, I really appreciate how these guys are bringing innovation and platforms that make doing business and carrying out transactions easier and available to many people that would never have had access to such transactions.

The only issue I have is with the lack of experience of the guys that claim they can ‘invest’ retail funds and even ‘guarantee’ returns. I like Flutterwave, Paystack, Paga and many others that do not ‘invest’ retail funds

We are having intelligent conversations o. I am not promoting Fintechs o, in fact, anyone that has a doubt should not be forced to use them.

I am only shedding light on the positives, too many people have underestimated them in this forum, some even called them frauds.

Let us all do our due diligence please, but spreading false alarms is a weak diligence.

SteveOfu:
Yes, their assets management wing United Capitals

pls is it safe to invest with them?