In the last few years, robo-advisory platforms have disrupted the ever-evolving investment management market, giving a massive push to the cost-effectiveness and efficiency of services delivered to the investors. Without a doubt, retail investors are getting spoilt for choice amid promising robo-advisory platforms providing end-to-end digital services, with absolutely no human intervention or interaction and a hands-off, data-backed approach to making the investment choice. Aside from the convenience, speed, and cost, the pull of these platforms can be seen on investors who are seeking uncomplicated financial services. And many financial advisors and entrepreneurs from all over the world are mainly placing their bets on this automated investment management service, including the young entrepreneur, John Zhang, who firmly claims that robo-advisory is the future of asset management.
The 27-year-old Zhang, also the CEO of WealthGap – an asset management firm, himself took the leap into this industry after learning and monitoring the response of investors, mainly millennials. In his view, millennials are the first ones who have shown complete dislike towards communicating with a human financial advisor on a regular basis. Most of them indicated their willingness to invest through an online platform – owing to minimal fees charged as compared to a human advisor. To add to this, Zhang also shares that robo-advisory platforms provide broadly fitting investment solutions to investors. Thus, it may prove beneficial to those who have simple investment needs and want to escape paying for totally customized portfolios.
Speaking on this, Zhang further added, “As the world is becoming more and more familiar with the facility due to the service portfolios of financial firms and established banks, a corresponding market encompassing growth opportunities for asset management strategy providers, like WealthGap, is swiftly emerging. As digitalization keeps progressing in the near future, the demand for accessible, integrated, and gamified solutions of the robo-advisors will spiral up. It’s safe to say, robo-advisory will certainly reshape each step of the financial value chain.”
In Zhang’s opinion, the industry has widely expanded, and robo-advisors are a lot more sophisticated than they used to be, with a broad range of capabilities spanning from hybrid models to app interfaces. In fact, the young entrepreneur set out on a mission to establish WealthGap to fulfill his long-lived dream to start a hedge fund. What spurred this idea even more, was when robo-advisory was recommended to Zhang by one of his consultants. That’s how he undertook the work of creating an app that could be easily downloaded by investors for forming their hedge fund quality portfolios. His objective remained to charge a minimal fee with maximum service as opposed to those in the market who would charge an exorbitantly high amount. Zhang considers WealthGap to be a platform that helps regular people invest in the best financial products so that they can multiply their wealth and live the life of their dreams.
“Entrepreneurship needn’t always be about making millions and billions; it can rather be about growing and helping others grow – personally and financially. I think the biggest reward of being an entrepreneur is the flexibility to work on something I’m truly passionate about. But the downside of it is that I must be prepared to give up on everything to put in efforts and dedication consistently to sustain and succeed,” added Zhang, as he highlighted the perks of being the spearheader of WealthGap.