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Komfie Manalo, Opalesque Asia:

The internet offers a big opportunity that can potentially change the wealth management landscape in China in a way that most other countries can never imagine, claimed Kenny Li, CEO of Sino-Foreign joint venture firm Quattro Quant.

Roboadvisors and internet based distribution will cut out middlemen

Speaking during the latest Opalesque China Roundtable, Li said "I just like to point out that the internet space will continue to expand into finance. We see a real need of roboadvisors which can cater a broad mass market and cutting out expensive middlemen fees. In our industry, fund raising is traditionally very expensive, so having new and very cheap channels for product placement and asset raising will be a major revolution in the industry."

He added that products are usually distributed by armies of salesmen who often lack product knowledge but have their ways of selling into retail. Providing a professional service on financial products online with low fees is a big potential in China. While the internet space is currently "pretty much free and open for anybody to grab," regulation will probably kick in at some point over the next five years.

He continued, "And don’t forget, there are already internet payment systems in China that process huge amounts of money, like Alibaba’s Taobao or WeChat’s payment system. Something like this could work as wel......................

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