The European robo-adviser has also revealed details about its average user.
The European robo-adviser has also revealed details about its average user.
European robo-adviser ETFmatic’s app has been downloaded 100,000 times since launching last year, the company said on Thursday.
The company’s app not only gives users access to their portfolios but also has a simulation model for potential clients to test the product. The platform is the only digital wealth management firm that operates in 32 European countries.
“Reaching 100,000 downloads is a significant milestone for us - we are now ranking amongst some of the largest banks in app stores worldwide,” said Luis Rivera, CEO and co-founder of ETFmatic. “However, it’s only the tip of the iceberg. Our platform enables B2B partners such as Revolut to deliver ETFs to millions of customers by building on top of our API, and we also offer white-label solutions.”
In comparison, the apps from the other leading wealth tech firms have been downloaded less on Android products. Moneyfarm has been downloaded 5,000 to 10,000 times, while Scalable Capital has between 1,000 and 5,000 downloads. Nutmeg does not have an Android app. Apple does not display how many iOs downloads there have been, so these numbers give an incomplete picture of the popularity of these products,
It’s also worth noting that the number of app downloads does not necessarily reflect the number of clients.
The company has also revealed more details about its user base.
On average, Its youngest customers are in Austria (26), Slovenia (27) and Norway (28) while its oldest customers are in Belgium (37), Italy (38) and Switzerland (41).
Those in the UK, Spain, Italy, France, Germany and the Netherlands tend to allocate 20 per cent of their portfolios to bonds while in Ireland, Portugal and Poland, asset allocation is around half of equities and the other half in bonds.
This article first appeared on www.roboadvicenews.com
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