Singapore Startup Threatens Banks' Control of a $48.1 trillion Market

RAFFLES PLACE, Singapore - Sept. 21, 2014 - PRLog -- Singapore—On 21 September 2014, a Singapore-based financial technology startup launches a platform, WeInvest.net, that revolutionises how retail investors obtain access to retail investment opportunities such as fund products, real estate investments and deposits – an area that is predominantly dominated by banks, financial institutions and financial advisors. According to Boston Consulting Group (https://www.bcgperspectives.com/content/articles/financial_institutions_growth_global_wealth_2013_maintaining_momentum_complex_world/?chapter=2), private wealth in Asia is forecasted to reach $48.1 trillion in 2017. With such a massive market size, banks and investment advisory are rightfully nervous and worried that increasing independence of retail investors and a transparent market would lead to lower profit margins in an industry that pays itself solely by commissions and fees generated from selling these products (whether or not they are suitable for the buyer-investor).

Retail investors have always been at a disadvantage because they do not have access to bias-free, transparent and fuss-free access to information about potential investment opportunities. This usually results in higher compensation and commission fees for banks and advisors at the expense of retail investors. This reality is made even starker in August 2014 when Australia’s banks were ordered by the Australian Securities and Investments Commission (Asic) (http://business.asiaone.com/news/aussie-banks-rapped-givi...) to warn their customers that they may have received bad financial advice. Mis-selling by banks and financial advisors (http://www.theguardian.com/money/blog/2011/jan/24/bank-cu...) has always been a problem that has plagued the retail investment work.

A former banker and financial services consultant, Bhaskar Prabhakar, has set out to solve this problem by adjusting the playing field in favour of the retail investor by leveraging Web 2.0 technologies. In late 2013, he founded WeInvest.net, a web platform that allows retail investors to easily discover and compare retail investment opportunities (e.g. real estate, funds and deposits) worldwide. Ordinary retail investors can now bypass the banks and financial advisors in order to objectively compare their potential portfolio performance of such opportunities against the performance of other investment products. Investors will also be able to follow products and companies to receive updates on the opportunities, follow discussions and trending views in the retail investment market.

WeInvest simplifies the complicated processes, and fine print and legalese. Retail investors can now avoid biased views and a ton of fees/costs that would eat into their profit margin. WeInvest solves these problems and add value to the investment process because we strongly believe that:

§  an investor’s money should work harder for higher returns;

§  an investor should be given the opportunity to discover and benchmark the potential performance of an investment purchase against other opportunities out there;

§  the investment process should be as bias-free and as cost-effective as possible in order to realise as much yield as possible.

The platform provides investors the ability to visually compare and track the performance of investment opportunities once investors have defined their preferred parameters. More importantly, investors will be able to clearly understand and view all the costs and fine print related to any investment. With one single view, investors will be able to make an informed decision on any investment opportunity.

“By providing a social channel for investors to engage with such providers, WeInvest puts the power of accountability and transparency back in favour of retail investors where previously the balance has always been in favour of banks, brokers, funds and property developers.”    Bhaskar Prabhakara, CEO and Co-founder

For more information, visit WeInvest.net.

Contact Info:

Bhaskar Prabhakara, CEO and Co-Founder

E: bhaskar@weinvest.net

M:       +65 8189 2863

Aidil Zulkifli; VP, Growth

E: Aidil@weinvest.net

M:       +65 9320 0041

About the Company—Planar Investments Pte Ltd

Planar Investments is the holding company and owner of WeInvest.net and its associated technologies and intellectual property. Bhaskar Prabhakara, a banker and investor operating in Singapore and London in the last 13 years, founded the company in 2013 together with K Sriram, an experienced technologist of 12 years.