In an interview with VIR’s Ha Vy, Tran Vinh Quang, CEO of Thien Viet Asset Management (TVAM), said that Vietnam’s market has now converged around three critical factors that are creating a breakout moment for the hybrid wealth management model: rapid wealth accumulation, the emergence of a digital-first investor generation, and a widening service gap.

“We are witnessing strong growth in the affluent and high-net-worth segments,” Quang said. “Vietnam today bears many similarities to China during the 2020-2022 period, when macroeconomic conditions were stable and individual investment in financial assets expanded sharply, averaging more than 20 per cent per year. At this stage, client needs go far beyond simple bank deposits.”

Quang noted that the rise of a digital-first investor generation, which is highly comfortable with technology, has reshaped expectations.

“These investors demand instant, transparent digital financial experiences, while at the same time requiring a very high standard of professional advice,” he added.

However, he pointed out that the market is currently polarised. On one side are traditional platforms with rigid and inflexible processes, while on the other are purely technology-driven platforms that are fast but lack advisory depth.

“This gap is precisely what creates a golden opportunity for Hybrid Wealth platforms such as eWealth, where we tightly integrate human expertise with AI technology to bridge that divide, optimising both client experience and service quality,” said Quang.

Digital and hybrid wealth managements. Photo: TVAM

In July, TVAM released a survey which found that most investors are still managing their financial journeys largely on their own, without adequate professional support.

“As many as 77 per cent of investors struggle when self-managing their assets. Of these, 51 per cent are influenced by emotions in decision-making, while 48 per cent lack sufficient expertise, making them vulnerable to short-term market trends or inefficient investments,” the report stated.

A PwC 2023 report showed that 70 per cent of global investors prefer a combination of digital platforms and human advisors.

“Investors want autonomy in decision-making, but still need institutional expertise when transactions become more complex. Among high earners, not-rich-yet are comparable to Vietnam’s affluent segment, with 80 per cent prioritise platforms that provide data analytics and AI-supported decision-making,” noted PwC.

Against this backdrop, on December 17, Thien Viet Securities (TVS) and TVAM launched eWealth in Hanoi.

The platform is a digital investment advisory and wealth management solution that integrates technology, data science and AI with the advisory and investment management capabilities developed by TVS and TVAM.

“Designed as an all-in-one platform, eWealth allows clients to access the full spectrum of investment activities within a single, unified system,” said Nguyen Trong Dinh Tam, director, head of Retail Investment Advisory at TVS. “From asset tracking and reporting, to market and company analysis, and professional investment advice, clients can also subscribe to discretionary investment solutions tailored to their individual risk appetite and financial objectives.”

Tam shared that when accessing eWealth, investors are guided through three solution layers across their investment journey: transaction support, investment advisory, and discretionary asset management.

“Investors may begin by monitoring the market and executing trades, then enhance their experience through advisory services delivered via automated tools and TVS’s team of professional advisors,” he added.

When appropriate, investors can opt for discretionary asset management services. Under this model, investors (the principals) entrust their capital to an institution or professional manager (the agent), who manages the portfolio and makes investment decisions on the investor’s behalf with the objective of generating returns.

Ngo Nhat Minh, deputy CEO of TVS and head of the eWealth development project, said that eWealth is not merely a technology product, but the outcome of a comprehensive digital transformation that TVS has been actively implementing over nearly three years.

“The core strength of eWealth lies in its end-to-end integration with our new technology platform. Our data warehouse and internal management systems have been fully automated. The platform operates on data science analytics, quantitative algorithms, and proprietary AI models that TVS has specifically trained for Vietnam’s financial markets,” said Minh.

“With a strong client-centric approach, we focus on building services and platforms that are simple, efficient, and transparent. eWealth will continue to be enhanced in both technology and specialised financial solutions, accompanying investors in building a stable and sustainable financial future,” he added.

Currently, eWealth offers two discretionary investment options: discretionary management by portfolio managers and discretionary strategies based on quantitative algorithms.

Under the portfolio manager-led option, assets are allocated flexibly in line with monetary trends, macroeconomic conditions and economic cycles. Portfolios are constructed from a curated basket of equities selected by experts from TVS and TVAM, focusing on market-leading companies with strong growth potential and reasonable valuations.

By contrast, the quantitative strategy option emphasises automation and investment discipline. Buy, sell and position management decisions are executed based on quantitative models developed by TVS, drawing on each stock’s fundamental metrics and technical indicators.