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Philippines Wealth Management Forum 2019 - Highlights - Michael Gerard D. Enriquez

Michael Gerard D. Enriquez

Chief Investments Officer

Sun Life Financial

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

    The challenge would be the reach. I think the distribution is something that we would need to continue to work on. Right now, the present distribution would be banks and advisors or agency, but we're not really reaching the broader market in terms of the distribution reach. I think FinTech, some digital type of wallet, can help broaden this distribution. In terms of the challenges, I think as far as the FinTech move is concerned, a lot of the regulators continue to be a bit hesitant over the KYC process. Face-to-face would have to be digital. It has to be remote, as opposed to now that a lot of the investors need to go to the offices in order to do the physical KYC. So those are some of the things that we would need to look at in order to broaden the reach of asset management and wealth management.