International robo firm launches low cost advice offering

Scalable Capital, a UK and European digital wealth manager, has launched a financial advice service.

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The firm said the additional service is an “extension of our core model” and will offer prospective and existing clients a comprehensive financial assessment of their situation.

The firm is dual regulated in Germany and is available in Austria and Switzerland as well as the UK. Its core offering is a dynamic risk managed ETF portfolio service.

Advice clients will be provided with a free consultation, after which they can book a session with an adviser for a fixed fee of £200 (€226, $277).

Simon Miller, co-founder of Scalable, said: “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.

“At the same time, we wanted to make sure that our offer was priced such that clients without a high six-digit-investment would also find it attractive.”

Blackrock-backed Scalable Capital also announced that, after a year as chief operating officer, Miller will become chief executive for the UK business.

Meanwhile, co-founder Adam French will now take on international responsibility, focusing on collaborations with financial institutions and large corporates across Europe and beyond.

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