Thailand Wealth Management Forum 2019 - Highlights - Trawut Luangsomboon

Trawut Luangsomboon of Jitta

May 13, 2019

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1. What are the opportunities and challenges for the industry?

Video transcript

1. What are the opportunities and challenges for the industry?

As a FinTech startup specialising in the wealth management industry, I see big opportunity in Thailand and especially in Asia. For example, in Thailand I think only 10% of people invest in the wealth management industry. That's a lot of money left sitting in the bank. The open opportunity is to educate people on why financial knowledge is important, how to plan for the future and accumulate wealth with a wealth manager, or with any wealth type of product you want. So that's the big opportunity we are viewing. Another opportunity is that the new generation tend to go online. Previously, people tended to access the wealth management industry by relationship, by talking to someone. The current generation tend not to like talking with people; they want to search on the Internet. Jitta provides wealth management online for the last few years, and growing the client base is the opportunity we have here. And the threat is that even though we can do technology to manage wealth, some people, especially adults that have accumulated wealth, still prefer to have someone to talk to for advice when they are anxious about the market. That's the obstacle that we need to overcome. To educate all-ages to work with us.

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