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The Origin Story of Michael Summerton

As head of INN8 Investment Platform’s proposition team, Michael Summerton plays an integral role in building the platform of the future. We sat down for some virtual coffee to find out more about Michael’s journey to INN8.

4 min read

Michael Summerton has been a guiding force in the development of both the investment platform and the INN8 brand since just before we launched in 2018. With a sensible, intentional, and analytical view of the financial services industry, he has ensured that the brand and the platform continue to deliver on its promise to change the way investments are done.

Before we dive into how Michael ended up in his role as Head of Proposition for INN8 Investment Platform, watch the short video below to learn more about what his role entails, what INN8 means to him, and what the future might hold.

Tell us about the career journey you have been on to land where you are today.

I ended up ‘doing accounting’ because well, at the time, while all the cool kids were doing computer science, I wanted to interact with people in real life, actuarial science seemed REALLY technical, and I didn’t have the stomach for medicine, so numbers it was. Then it dawned on me that you could be an accountant anywhere so I thought I could use my training to travel the world – which I was fortunate enough to do as part of the EY global exchange programme. I called the EY office in New York’s Time Square my home for a couple of years and I managed to see most of North America and even took a trip down to the Caribbean islands. Initially, I was exposed to all manner of industries (I audited wine farms, listed retailers, oil and gas refineries, asset managers, hospitals, publishing houses, and a few things in between).

After a while, I moved home and specialised in financial services, spending nearly a decade with a large asset management company, initially as a finance manager and later moving into client services and product development.

What made you choose the financial services/investment industry?

I love that our industry can literally change people’s lives and afford dignity to our grannies and grampas when they are in their twilight years. As an industry, we use A LOT of jargon, so there is plenty of work to do to simplify and explain things clearly to investors. You shouldn’t need a CFA (chartered financial analyst) to understand why personal finance is important and how to save adequately for your future.

What has been the most significant turning point in your career – or describe an accomplishment that shaped your career? 

Being afforded the opportunity to build something substantial from scratch has been one of the most significant turning points in my career. Being part of a team (that at one stage felt like a garage startup) and growing with that team into something as substantial as INN8 – the brand and the Investment Platform – has been one of the most wonderful journeys. We didn’t always get things right, but we learnt a lot and importantly, we kept moving.

I owe so much to so many of the people who contributed along the way (they know who they are). We have a big vinyl sticker in the shape of a tree stuck on our kitchen wall in the office in Cape Town with Polaroid pictures of the people who have contributed to the project over the years. I look at it often.

Is there a personal project within the business or out of it that you are currently working on? 

My sole focus for five and a half years has been the Group’s investment platform project and the launch to market of INN8. As I lift my head looking to 2023, perhaps there is a book about corporate intrapreneurship I need to write!

What advice would you give to someone who is wanting to take your current position? 

Run! Haha – but seriously, this has been one of the most challenging roles I have taken on. I am still not sure what it takes to be ‘the product manager’ but I think it is a combination of good communication skills, interconnected problem-solving, a sprinkle of creativity, a dollop of diplomacy – with maybe a dash of leadership.

What makes you excited about Monday?

Good coffee and a loaded croissant from Wayfare. 🙂 I think the most wonderful part about Monday is that it’s like you get a fresh start with a whole new week in front of you to tackle some of the audacious objectives you might not quite have got a handle on the previous week.

Is there anything you would have done differently? 

So many things. I would have deeply appreciated quality people more. I would have befriended my Legal and Compliance colleagues sooner as sometimes the relationship between Product and Legal and Compliance can be adversarial, but I have realised we have so much depth and industry experience within our broader Group, it just takes a little effort because they are really in demand!

Great product management is not about building everything your users want immediately; it is about articulating the problems really clearly and in such a way that your teams can design solutions that delight clients. I would have said no earlier and firmer to some new developments and I would have kicked for touch and delayed longer on a few others.

What would you tell your younger self about the road to get to where you are today?

If you find yourself going through hell, just keep going, and when the time is right, stop a few more times than not to smell the roses and take in the sunsets. And appreciate the people around you.