I've held senior roles in global and local financial companies, including Head of Israel at FNZ and SVP of Long-Term ... see more
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I've held senior roles in global and local financial companies, including Head of Israel at FNZ and SVP of Long-Term ... see more
Fintech Ecosystem Interested In
Services Offered
Opportunities Sought
Israel's Ministry of Finance published an "Interim Report for Public Comments from the Team to Reduce Gaps in Short- and Medium-Term Savings Investment Instruments". As someone who has delved into this topic over the past year as part of market research and formulating a GTM strategy, I believe this is mainly a matter of "when" rather than "if." Therefore, I see tremendous potential for global E2E investment platforms that manage investment accounts, like the UK's ISA or Japan's NISA. If these platforms also possess holistic financial planning capabilities, the path to conquering the Israeli market is wide open for them.
Here is a summary (pay attention to section 3 below).
Generally, the discussed reform pertains to short- to medium-term voluntary savings products with tax benefits. These products include investment provident funds, savings policies, and mutual funds, with assets under management totaling approximately 700 billion NIS by the end of 2024. The reform focuses on three main issues that need to be addressed:
1. Standardization of short- to medium-term voluntary savings products with tax benefits, specifically unifying taxation rules (and reducing tax benefits in the process) and managing them under a single investment account.
2. Holistic financial intermediation, meaning an advisor who can provide advice on all products (and transition to a neutral commission model in the process).
3. Mandatory savings and investment platform for managing the dedicated investment account. Additionally, the platform will display pension savings and other voluntary savings to provide a holistic view. The platform will be used by stock exchange members and other users with dual consulting licenses (investment and pension).
As stated above, I believe that the reform (like any reform) will undergo many more changes along the way, but ultimately it will happen, and I recognize a major technological opportunity here. If the topic is relevant to you, I'd be happy to be in touch.
Feb 23, 2025
Here is a summary (pay attention to section 3 below).
Generally, the discussed reform pertains to short- to medium-term voluntary savings products with tax benefits. These products include investment provident funds, savings policies, and mutual funds, with assets under management totaling approximately 700 billion NIS by the end of 2024. The reform focuses on three main issues that need to be addressed:
1. Standardization of short- to medium-term voluntary savings products with tax benefits, specifically unifying taxation rules (and reducing tax benefits in the process) and managing them under a single investment account.
2. Holistic financial intermediation, meaning an advisor who can provide advice on all products (and transition to a neutral commission model in the process).
3. Mandatory savings and investment platform for managing the dedicated investment account. Additionally, the platform will display pension savings and other voluntary savings to provide a holistic view. The platform will be used by stock exchange members and other users with dual consulting licenses (investment and pension).
As stated above, I believe that the reform (like any reform) will undergo many more changes along the way, but ultimately it will happen, and I recognize a major technological opportunity here. If the topic is relevant to you, I'd be happy to be in touch.
Feb 23, 2025
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