Which of the following statements is inaccurate in describing how popular are robo-advisor platforms?

1. The major hurdle robo-advisors face in China is limited amount of investors money available for investment purpose.

2. Robo-advisors have been gaining traction due to low and transparent cost structure.

3. Robo-advisors are not as well-embraced in China, compared with in the West.

4. The popular robo advisors in the West are start-ups, although traditional asset management companies have also started their own robo advisory.