History of Finance: From Piggy Banks to Fintech Wealth Management
Although nowadays wealth management always involves apps and financial advisors and wealth management technology platforms, it was not always this way. Have you ever wondered how did people manage to keep count of their assets and wealth way back when technology did not yet exist to the level it is at today? From keeping coins in jars and chests, to the early beginning of bankers and how the stock markets started to appear, take a look into the history and evolution of wealth management! The Humble Beginnings – Coins in Jars and Under Mattresses In ancient times, the first system of trade was called bartering . It is a system where participant would exchange goods or services, without a medium of exchange, like money is used today. People would usually exchange goods such as grains, livestock or tools. However, the inconvenience of bartering – imagine trying to trade a goat for bread – led to the invention of money. Coins, made from silver or gold, became the universal medi...