Robo-Advisor Solution by 3rd-Eyes- CEO Venture Leader Interview Columnby Venturlab Fintech July 23, 2018
Fintech 3rd-eyes offers a robo-advisory solution with improved individualisation and reduced costs, enabling advisers to offer better value to their clients. Founder Rodrigo Amandi told Venturlab about their hopes for the New York roadshow in September.
This is the first part of the Fintech Startup Interview serial powered by Venturelab.
Venturelab brings this autumn 10 Swiss Fintech Startups to New York
Who are you, and what’s your big idea?
My name is Rodrigo Amandi. I come originally from Madrid, Spain, but have lived in the UK and Switzerland for almost 20 years. I hold a PhD in chemistry and have worked in the financial industry for over 12 years. I am married and have three children.
Our big idea behind the foundation of 3rd-eyes was the democratisation of professional investment advice. There is a big gap between the methodologies used by highly professionalised investors, such as pension funds or insurance companies, and those of the wealth management industry. We have worked over the past two years on developing a solution that enables wealth managers to provide superior advice, based on those methodologies used by the big investors, at a fraction of the cost, thanks to the rapid technological developments of recent years.
Where do you see the biggest opportunities in fintech over the next five years? What problems urgently need to be solved?
There any many opportunities where fintech can create a great impact. The greatest focus so far has been on personal finance – concretely on savings, budgeting and connected products, such as savings accounts, credit cards and consumer loans. Yet little attention has been given to investment advice.
Sure, there are many robo-advisory solutions in the market, but none of them provide the degree of individualisation required by clients. We see a great of opportunities in this field, as robo-advisory solutions proliferate and the wealth management industry needs to provide extra value to their clients so they can retain them. This is where our solution plays a problem-solving role.
What attracts you to New York as a business development destination?
Global problems deserve global solutions! The USA is one of the top three wealth management hubs globally, with a market worth over $1.5 trillion (Deloitte Wealth Management Ranking 2017), and hence it is an important market for our company to explore. Understanding the dynamics of the market as well as the specific requirements of the US market is crucial. New York certainly can provide us with such insights.
What do you see as the greatest obstacle to expansion into the global market?
Local presence is a must when pursuing global expansion. This obviously requires a significant investment for a company of our size, and poses a greater challenge given the uncertainty of the return on capital invested.
What do you hope to achieve on the trip? What are you most looking forward to?
Market research, business development opportunities and meeting potential investors. I look forward to having the opportunity of talking to US investors and organisations, as well as exchanging ideas with other startups.
How is the Venture Leaders program beneficial for your startup?
Venture Leaders provides us with an excellent platform to benefit from the Venturelab team’s experience on how better to sell our company and the services we provide to potential investors and business partners. Additionally, it provides us with a unique experience to share knowledge and experience with other participating companies.