Just over half (53%) of retail investors would consider using a robo-adviser platform, according to new research* from Nucoro, a B2B fintech providing Wealth Management as a Service solutions.
Some 60% of male investors and 47% of female investors would consider using robo-advisers, respectively.
The findings also revealed a huge disparity between investors of different ages and their views on robo-investment platforms. 76% of retail investors interviewed aged between 18 and 24 would feel comfortable using them, compared to only 32% of those aged 65 and over.
When it comes to what stage of the investment process retail investors would most like to speak to a person/adviser, 51% chose during the explanation of fees and charges. This is followed by 43% who want to have a better understanding of the performance of their investments.
Nikolai Hack, the COO and UK MD of Nucoro commented:
“Robo-advice platforms are a relatively new development in the wealth management sector and are clearly set for strong growth, which in many cases will be driven by younger investors.
However, robo-advisers clearly need to provide service levels around several issues important to investors, and in some cases, this could mean providing access to human advisers.
Increasingly, success in wealth management will come down to the technology and digital proposition that providers can offer their clients around all aspects of how they manage their investments. Because of their legacy systems, more IFAs and wealth managers will need to outsource these areas of their operations to specialist third parties like us. That’s why we offer internal automation solutions, as well as the external digital experiences, to provide a comprehensive and flexible set of routes to effective digitalisation for wealth managers.”
From client onboarding to portfolio construction through to billing automations, Nucoro combines all the tools required to build the next generation of wealth management propositions. To help the wealth management sector move forward, Nucoro offers a new technology-based foundation built without legacies - a complete overhaul to the models of client service and accessibility. Nucoro’s is a radically different approach to the relationship between technology providers and the organisations adopting their solutions – in short, they can provide the new engine to power the next generation of financial services.
Whilst Nucoro has recently launched to the public, the technology behind it provides the technology behind the retail investment platform, Exo Investing – a fully automated, AI-powered wealth management platform. Within the first year of operation, Exo won two industry awards (Best digital wealth manager OTY + Industry Innovator OTY at the AltFi awards 2018), was named as a finalist in three more and selected to two disruptive company annual indexes (Wealthtech 100 and Disruption50’s 100 most disruptive UK companies).
Nucoro is making this technology available not only to private investors but also for businesses in the wealth management sector that have the ambition to truly innovate and future-proof their businesses - and are struggling to realise their digital ambitions alone.”
Notes to editors:
*The research company Consumer Intelligence interviewed 1,028 UK retail investors in August 2019. The survey was conducted online.
For further information please contact Phil Anderson or Will Easton at Citigate Dewe Rogerson on 0207 025 6494/0207 025 6518
This is Wealth Management as a Service, empowering businesses to launch the next generation of investment and savings propositions and innovate at eye-level with their digital competition in a matter of weeks, not years.
The Nucoro Wealth Engine, the core of their technology, combines all the necessary tools to build wealth management propositions, from client onboarding to portfolio construction through to billing.
Nucoro partners with banks, wealth managers, IFAs, insurance providers and other financial services businesses. They work with those who want to be more agile, efficient and innovative than they ever could before, and rethink what's possible in the future.
In May 2018, they launched an investment platform, the first of its kind as a fully AI-powered wealth manager. Sitting behind the award-winning platform, the Nucoro Wealth Engine allowed every client’s portfolio to be completely unique, built around their goals, and managed daily for a fixed, low-cost fee. After only a year, Exo Investing has already won two industry awards, selected as one of the UK’s most disruptive companies in two different indexes and named a finalist in two outstanding technology platform offerings.
The Nucoro Wealth Engine enables radically different investment and saving propositions in a range of sectors.
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Automated suitability assessment, KYC checks, client and regulatory reporting
Freely configurable asset universe and portfolio management
Financial planning and reporting apps for clients, advisors and management
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Bespoke digital savings and investment propositions, fully integrated or standalone
End-to-end automation of front, middle and back-office functions
Custom product universes and digital experiences for clients, advisors and management