The name is the aim of the game: Dvdendo to Bambu

By David Tuckwell on Monday 4 September 2017

Savings and Investment

Robo-advice news from around the world, summarised weekly

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

As more robo-advisors enter the fray, more use names as a marketing device. This week we’ve seen four robo-advisors come to the front, all with revealing names: Dvdendo, Bambu, Douugh and Nordnet.

Dvdendo is a Floridian robo-advisor which, as its name might suggest, targets Latino savers. Douugh, again with the suggestive name, is all about the money. Hailing from San Fransisco it has kicked off a high tech AI helper called “Sophie” that aims to nudge savers behaviour. Bambu is Asian – from Singapore to be precise. And offers a white-labeled B2B robo-advisor. Nordnet is Nordic and is the first plain vanilla Scandinavian robo-advisor, offering low fees and standardised investment portfolios.

With more and more advisors launching around the world, savers will have to start telling them apart. How they’ll do so is anyone’s guess, given they spend more time shopping for TVs than on developing their investment portfolio.

There’s also a lot to say about women in robo-advice this week, all of which, we’re happy to say, is good news. Sally Krawcheck has started her own robo-advice brand, targeting the womens’ market. Moola’s CEO Gemma Godfrey has plucked former Mumsnet director Camilla Carson as a BDM, again helping to raise women’s’ profile in the industry.

In news from Australia, B2B robo-advisor Ignition Wealth continues its winning streak, partnering with a major stockbroker to get easy access to its clients. Acorns Australia has grown to A$100m (£61.3m) in assets under management as digital wealth services continue to expand down under. The app started in the US three years ago and launched in Australia in February 2016.

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