In the wealth management space, financial companies will not be the dominant players. It will be telecommunications players, consumer brands, tech companies like ANT Financial and Tencent.
“If you have two main attributes – trust and customers – you can offer financial services.
“If you have a huge number of customers that trust you, you can offer financial services including robo advisory. Banks will still have a lot of the customers but the biggest growth from 2017, 2018 and 2019, will be companies that have now become financial services companies because they have customers that trust them,” predicts Ned Phillips (photo/video below), founder and CEO of Bambu, a B2B robo advisory firm based in Singapore.