JPMorgan is buying UK robo-advisor Nutmeg
JPMorgan Chase has announced it has agreed to buy British online investment management platform Nutmeg for an undisclosed sum.
Vestwell and Bambu team up on participant advice
Vestwell, a digital recordkeeping platform, and Bambu, a global robo-advisory technology provider, are teaming up to provide participant advice.
M&G appoints Australia’s Ignition for hybrid robo-advice offering
M&G Wealth has appointed Australia’s Ignition Advice to develop a low-cost robo-advice hybrid service.
Banking giant unveils robo-advice offering
US financial services company Goldman Sachs is entering the robo-advice space with the introduction of a service targeting retail clients.
55% of Aussies would trust a robot for financial advice
Research revealed that COVID-19 has reshaped the role and focus areas of corporate finance teams and personal financial advisors.
Tokyo-based WealthNavi raises $37.6m in Series D round
Tokyo-based WealthNavi, provider of Japan’s biggest financial robo-adviser service, has secured 4.1 billion yen ($37.6 million) in its Series D funding round backed by a fund launched by Sony Financial Ventures and Global Brain, according to an announcement. Other investors including UTokyo Innovation Platform, SMBC Venture Capital, Mizuho Bank, Opt Ventures, and Resona Capital also participated in the funding round that brings the total funding into WealthNavi to over $130 million, the company said. Established in 2015 by Kazuhisa Shibayama, WealthNavi offers a platform for asset managers to provide advice using risk management algorithm. The company has opened 240,000 accounts with assets under management of 180 billion yen ($1.6 billion). […]
Two more robo-advisors to enter Malaysia in 2020
Malaysia is expected to house two more robo-advisors in the country’s emerging financial technology (fintech) market next year, after the Australian-based firm Raiz Invest Ltd and Thai’s Robowealth Mutual Fund Brokerage Securities obtained the Securities Commission Malaysia’s (SC) approval for operation. SC executive chairman Datuk Syed Zaid Syed Jaffar Albar (picture) said the companies which were granted approval-in-principle, would join the three fully operational robo- advisors in the country. The approval, Syed Zaid said, would further facilitate the growth of local fintech landscape. “Today, Malaysia has three licensed and fully operational robo-advisors — namely StashAway, MyTHEO and Wahed Inc. We continue to see strong interest in this space and will […]
Robo-adviser Wealthsimple raises $51 million to expand service
Wealthsimple, a Toronto-based online wealth management startup, has raised $51 million in funding from Power Financial Corp (PWF.TO), as it seeks to compete in the increasingly crowded digital investment advice market. Wealthsimple, which is among the group of digital investment managers known as robo-advisers, will use the round of funding to add features to its service and expand to offer other financial products, it said.The company last year became the first foreign robo-adviser startup to enter the U.S. market and later in 2017 opened in the UK. It currently manages $1.45 billion for more than 65,000 clients in the three markets it operates in. Wealthsimple and other robo-advisers are seeking […]
