Note from the CEO: Every so often we at FintekNews like to take a look out the window to other parts of the world, to kind of keep up as it were. When we did we discovered that British robo-adviser’s are sucking in some nice cash. A recent (summer) launch of one just hit 100 million (Euro’s) AUM in just that short of time. Robos rock Europe too I guess.
Scalable Capital, a robo-adviser launched earlier in the year in Germany and then the UK this past summer, has just surpassed the magic 100 million (Euro’s) in AUM. Surprisingly, at least to us, a large percentage of investors are not millennials (do they have those in Europe?) but rather an average age group of 42. And, the largest customer group is bankers. Great read and maybe investment advisors here should pay attention.
“Online investment manager Scalable Capital has hit €100 million (£84 million) of assets under management.
The robo-adviser, founded by Adam French (pictured right), Simon Miller (middle) and Ella Rabener (left), launched in the UK in the summer and in Germany earlier in the year.
‘We are delighted to have convinced so many clients about the benefits of Scalable Capital and our risk management technology within the course of just one year,’ said French, CEO of the UK arm.
‘Our growth story is just getting started, and we look forward to more success in 2017 as we build on strong momentum in the UK and our market-leading offering in Germany.'”