[sgbuffett]

Actually you know what. These fintechs could be easily duplicated. Ask yourself, what's stopping another from starting a similar outfit? Their strategies are not rocket-science that there are high barriers of entry.

Early movers will have advantage once people start journey with a low cost platform they will stay on as the benefit of shift is limited. 

Endowus is one of the early movers and offer unique products like the Djmension(?) Fund.