Robo advisor Scalable Capital partners with Siemens

By Moriah Costa on Tuesday 17 January 2017

Savings and Investment

The wealth manager will provide current and former German Siemens employees investment options through its automated portfolio.

Start-up wealth manager Scalable Capital is partnering with Siemens Private Finance, which offers investment and pension options for electronic conglomerate Siemens’ German employees and their families.

Scalable uses automated technology to monitor portfolios and make daily changes based on individual risk assessments.

"As a technology start-up, we are very pleased to be entrusted by Siemens, one of the world's largest technology groups, to manage the personal wealth of their workforce,” said Erik Podzuweit, co-founder and co-CEO of Scalable Capital. “Together, we now have the opportunity to inform Siemens employees about the benefits of digital investment management.”

The firm has over £100m in assets under management and over 3,000 clients in both the UK and Germany.

Siemens financial arm has traditionally provided insurance, pension and mortgage lending services to employees and will now also offer wealth management services through Scalable.

"It is our mission to educate our employees on the importance of investing in capital markets to build their future wealth and we want to make it easy for them to choose from a wide range of financial products,” said Alexander Mahnke, CEO of the insurance business unit at Siemens Financial Services.

Sign up for our newsletters

Your daily 7am download of all things alternative finance and fintech.

Fintech and alternative finance headlines with an exclusive Editor's Note each week. Delivered Monday at midday.

AltFi's new weekly US newsletter breaking down the ins and outs of America's burgeoning fintech sector. Delivered Monday 9am EST/ 6am PST.