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Who are your target users?

My understanding is that Betterment and Wealthfront are primarily aimed for upper middle-class millennials who have some savings but are not extraordinarily wealthy so as to have their own family office or dedicated wealth management team in Morgan Stanley / Goldman Sachs / JP Morgan / etc.

Since the upper middle-class in LATAM is significantly smaller than that of the US due to greater inequality, are you going after higher net worth individuals?

We are going after that same middle-class group to start. It is for sure smaller in purchasing power than the US middle class in total, but competition for this market is also way less, which may allow us to grow faster than a roboadvisor in the US, specially if you take into account that the middle class here is growing.

Anyway, we know we will be able to expand from this market to higher net worth individuals because a good part of them are also being ripped off by banks.

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