Savings still too closely linked to the short term. Will be the theme of the Efpa Meeting

In the Middle Ages, lending at interest was forbidden because it profited from something that does not belong to man, namely time. 'All that is beyond capital is usury', thundered the monk Gratian in 1140. It must be because of this heritage that Italians of all generations have a certain difficulty in considering the time factor when it comes to investments. If, in fact, in Italy there is a 57 per cent share of savers, this drops to 30 per cent in the case of investors. "This gap between savers and investors is closely linked to the lack of time culture in the financial context," says Nicola Ronchetti, ceo and founder of Finer, a research centre in the financial sphere, referring to the research prepared for the Efpa Meeting 2025, which will focus precisely on the time factor in financial planning.

"A large proportion of Italians continue to save, but there is a huge problem in the transition from savers to investors," Ronchetti continues. "This difference means that there is an untapped 27 per cent potential market, which, if activated, could potentially double the asset management market.

The theme of the Efpa Meeting will therefore be: 'Market timing vs time in the market - the right time, the right pace for the new generations' and the event will focus on the role of time in financial planning, emphasising the importance of duration and diversification of investments, particularly for the new generations. "The meeting," explains Efpa president Nicola Ardente, "opens with a deliberately provocative title, the intention being to highlight the distinction between market timing understood as a notion of short term or specific moment, oriented towards trying to maximise access to the markets, and the ideal of the right time, a time that, instead, must become a fundamental ally for proper wealth planning".

Efpa presents itself at the now traditional meeting in Florence after a few days earlier the association at European level celebrated 25 years of activity in Brussels, celebrating over 100 thousand certificates issued. In Italy, the community counts more than 13 thousand certificates. 'Efpa actively promotes professional exchange,' continues Ardente, 'and represents a large community that meets once a year, on the occasion of a meeting, to exchange professional knowledge and for the pleasure of being together. A meeting normally attended by more than 1,000 professionals'.

"In the financial strategies of Italians," continues Ronchetti, "the difficulty in managing and understanding the time variable is a central and widespread obstacle, influencing not only when and how much to invest, but also the approach of different generations to planning their future, and many Italians lack the necessary time culture in the financial sphere. The research prepared by Finer for the Efpa event first of all reveals uncertainty about the timing of investments: 34% of Italians do not know exactly when to invest, demonstrating uncertainty about the right time to enter the financial markets, whether BTp or shares. Similarly, 35% of Italians do not know how long they should remain invested for.