55 connected strategy for asian wealth management ^Top In wealth management, we do not know of players in Asia where an individual or a col- lection of individuals acts as a customer’s wealth manager via a digital platform. Local regulations requiring proper licensing for the provision of wealth and asset management services may remain a formidable obstacle to this architecture’s development in the industry. peer-to-peer network creators Archetype description: Peer-to-peer networks create connections between large groups of individuals where the roles of ‘customer’ and ‘producer’ change frequently. Social trad- ing networks and online communities of retail investors are two categories of peer-to-peer networks in wealth management. These allow retail investors and traders to share their trades and/or trade ideas with other network participants. Social trading networks also allow investors to automatically copy or mirror trades from other traders in their own trading account. As investors in Asia have greater and cheaper access to ‘do it yourself’ planning and investing platforms, they need sources of information they trust and guidance to inform their investment choices. Online networks have emerged as one such source of guidance and continue to gain popularity in the region and globally. Such networks provide “Con- nected Curation” and “Connected Coaching” in a loose sense as investors seek out and provide advice from the network’s participants, tapping into the collective knowledge of their peers. Case examples • eToro is a leading peer-to-peer social trading platform. While eToro’s main market is Europe (c.70% of their total accounts), Asia accounts for c.20% of their total client accounts. Their stated mission is to build “the world's largest social trading network to empower people to trade and invest in stocks, crypto and global mar- kets, copy top traders and get copied”. As such, their network allows each individual to emulate the investing strategies of other network participants and vice versa. Their network has created “a growing community of investors who connect and learn from each other” (see Figure 27). Registered users can access a virtual trading account that allows them to practice their investing skills. Their clients’ median age is 34 and a typical session is nine minutes long with an average of four logins per day. These data are indicative of the appeal of such platforms to a burgeoning base of emerging affluent investors who are digitally savvy and have high propensity for