Digital Wealth Asia Forum 2019 Singapore - Exclusive Insights - Mark Wightman

Mark Wightman of EY

Jun 21, 2019

Jump to section:

1. What is the evolution of digital advice?

Video transcript

1. What is the evolution of digital advice?

Evolution of digital advice is going to be a little bit different in the different jurisdictions. We believe that in markets like the United States, we will see a bifurcation. We expect to see some of the leading big tech firms eventually owning a good chunk of the advice market through an understanding of your personal data, hyper-personalized solutions, and a simplistic, easy to use, end-to-end experience across whatever channel you want. Obviously, a much smaller market for high end, high touch services will remain. This will encompass trust financial planning as well. In APEC, that market is going to be a bit different, but we do believe we will see an interesting mix of the incumbents, the FinTechs, and the big techs coming together. Due to the upcoming virtual banking licenses, we expect to see markets such as Hong Kong, Singapore, and Malaysia, potentially acting as the genesis of a number of these solutions.

More videos from Mark Wightman, EY

Latest Articles

Latest News