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Revolut, a
London-based neobank, has expanded its suite of products and services by
introducing a robo-advisor to its super app for users in the United States. The
advisor helps users to automate their investment portfolios, thereby “removing
the friction from investing,” Revolut said in a blog post published
today (Thursday).
Robo-advisors
are algorithms and computer programmes deployed to provide automated, low-cost
and personalized investment advice and portfolio management. These digital
platforms have continued to disrupt the investment
management industry, changing how individuals and institutions approach investing.
In its
announcement, Revolut noted that its robo-advisor offers users personalized
investment portfolio management for a fee lower than what traditional finance
companies offer. In particular, the offering comes with an annual fee of 0.25%
and a monthly minimum of $0.25.
The fintech
company explained that the robo-advisor works by investing customers’ funds in
one of five diversified portfolios based on their risk tolerance determined
through responses gathered from them at onboarding. The software programme then
automatically continues to monitor and manage the customer portfolio based on
the risk tolerance which is rebalanced every month.
“We know
that many of our customers do not have the time to manage a portfolio or invest
in individual securities,” Jack Callahan, Revolut US Head of Wealth and
Trading, said in the blog post. “Built to make investing more accessible, we
want to give our customers the ability to make their money work for them in
what we believe will be a tailored and stress-free way.”
Revolut, a
London-based neobank, has expanded its suite of products and services by
introducing a robo-advisor to its super app for users in the United States. The
advisor helps users to automate their investment portfolios, thereby “removing
the friction from investing,” Revolut said in a blog post published
today (Thursday).
Robo-advisors
are algorithms and computer programmes deployed to provide automated, low-cost
and personalized investment advice and portfolio management. These digital
platforms have continued to disrupt the investment
management industry, changing how individuals and institutions approach investing.
In its
announcement, Revolut noted that its robo-advisor offers users personalized
investment portfolio management for a fee lower than what traditional finance
companies offer. In particular, the offering comes with an annual fee of 0.25%
and a monthly minimum of $0.25.
The fintech
company explained that the robo-advisor works by investing customers’ funds in
one of five diversified portfolios based on their risk tolerance determined
through responses gathered from them at onboarding. The software programme then
automatically continues to monitor and manage the customer portfolio based on
the risk tolerance which is rebalanced every month.
“We know
that many of our customers do not have the time to manage a portfolio or invest
in individual securities,” Jack Callahan, Revolut US Head of Wealth and
Trading, said in the blog post. “Built to make investing more accessible, we
want to give our customers the ability to make their money work for them in
what we believe will be a tailored and stress-free way.”
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Source www.financemagnates.com
