Robo advisor Scalable reaches £100m of assets
Shortly before Christmas the start-up reached €100m of assets under management in 10 months, making it among the fastest growing robo advice companies.
Wealth manager start-up Scalable Capital has past £100m AUM, with assets growing at nearly £5m a week, co-founder and CEO Adam French said in an interview.
The firm, which uses automatic algorithms to manage the risk of portfolios on a daily basis, has over 2,500 customers and reached €100m AUM on Dec. 14, 2016.
“Reaching this milestone so quickly underlines the trust our clients put into us,” said French.
The Munich-based company has an office in London, which French overseas, and also passports into Austria through its German headquarters.
Scalable’s average client is 45-years-old and has assets of around £400,000. Many customers double their investments after five months, with an average portfolio size of £35,000. About 20 per cent of its assets are from portfolios of £418,000, with more than 50 per cent exceeding £84,000.
“Our rapid growth shows that it is possible to convince savers to invest more of their savings in the capital markets,” said Ella Rabener, chief marketing officer and co-founder of Scalable. “Using modern technology, providing full transparency about downside risks and offering lower fees allows us to convince our clients to move away from cash savings to investment accounts.”
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