The UK gets its first robo-advice comparison site
The Finance & Technology Research Centre (F&TRC) has launched a new digital wealth comparison site which provides analysis and ratings of digital advice platforms.
The site, called Digital Wealth Insights lists business-to-business, direct-to-consumer and adviser software sectors. It evaluates a series of benchmarks including a firm's target audience, pricing, product offering, strengths and areas for further improvement, core functionality, key principles, and investment vehicles.
The company believes it has a first mover advantage in the sector and says it developed the platform to provide information for firms and advisors looking to launch their own robo-advisory services.
Digital Wealth Insights also provides a directory of digital platforms, including robo-advisers, giving a comprehensive list of key players in the market.
Ian McKenna, Director at F&TRC, said: “We have spent five years examining how financial services is evolving in the digital era, both in the UK and internationally, as well as over two decades of expertise in analysing financial technology. So, we are perfectly placed to create a thorough, objective series of metrics to analyse the main players in the market as well as the up-and-coming disrupters.”
“There is a wealth of research in this area but the challenge is that because of the diversity of propositions it is very hard to compare these services consistently, as so many services are trying to do different things. To address this challenge, we started by creating a clear model of all the different types of services and the key components in each one. Using our model, we can produce more effective comparisons which can highlight the differences between various offerings.”
The site provides free basic reports and more comprehensive information is available to subscribers.