By Emily Nicolle on Wednesday 17 January 2018
The digital wealth manager is expanding its offering, but in the opposite direction.
Digital wealth manager Scalable Capital is now offering traditional financial advice to investors. Considered to be one of the larger players in UK robo advice, the firm has over £600m assets under management and more than 20,000 clients under its wing.
Conducted by qualified financial advisors, Scalable will be providing both prospective and existing clients with a “comprehensive financial assessment of their situation” via telephone or personal meeting. After the initial free consultation, clients can book further sessions with an advisor for a fixed fee of £200.
“We are experiencing increasing demand for our risk-managed investment solution from wealthier clients who have more complex financial situations and who told us they would be keen to use such a service,” said Simon Miller, co-founder of Scalable Capital and soon-to-be UK CEO of the business.
“At the same time, we wanted to make sure that our offer was priced such that clients without a high 6-digit-investment would also find it attractive.”
Dr Ella Rabener, Scalable Capital’s Chief Marketing Officer and Co-Founder, added: “Our business is geared towards a lean digital setup, as this allows us to offer attractively low fees to our clients. Our success so far, with over 20,000 clients across three geographies, proves that our digital sign-up process via desktop or app is very well accepted.
“Our new service is therefore meant to be an extension of our core model that will allow us to accelerate our growth by also accommodating investors that require more assistance as they make their investment decision.”
After the firm partnered with ING-DiBa in Germany late last year, Scalable Capital is gearing up for its international expansion. Co-founder Adam French will soon be assuming international responsibilities at the company, focusing on the firm’s collaborations with financial institutions and large corporates across Europe and beyond.