Cronies, FCA paper pile and Moneyfarm

By David Tuckwell on Monday 7 August 2017

Savings and Investment

Robo-advice news from around the world, summarised weekly

A weekly wrap of robo-advice news from around the world.

Big news this week was the Bloomberg piece claiming big banks are rolling out robo-advisors to entrench cronyism rather than remove it.

In the UK regulators are coming out to speak with robo-advisors – but not to remove cronyism. Rather, the FCA is producing a big pile of paper explaining what advice is.

In the corporate world, major Nutmeg-backer Schroders is trying to become something of a robo-advisor itself, further automating many of its tasks. Meanwhile, the robo startup MoneyFarm has hit £260 million AUM. Nevertheless, it has clocked in another loss for the year.

This article first appeared on www.roboadvicenews.com

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