28 July 2016
Find out more

Saxo Bank takes robo-advisor route with Blackrock

20 January 2016  |  8168 views  |  0 DAX stock market newspaper

Saxo Bank has moved into the fast-expanding robo-advisory market with a full-scale digital investment platform for retail investors in partnership with BlackRock.

SaxoSelect, built with iShares ETFs by BlackRock, is a fully digital and automated portfolio management service that enables clients to invest in pre-selected strategies in a real-time, fully transparent environment directly on their Saxo platform.

The service consists of three portfolios with different levels of risk - Defensive, Moderate, Aggressive - managed by Saxo Bank and using research data developed by BlackRock. Available initially in euro and sterling, the automated ETF portfolio will launch in selected European markets, starting with Denmark, Finland, Italy, Norway, Netherlands and Sweden in Q1 2016.

Kim Fournais, Saxo Bank's chief executive officer, says: "This initiative is underpinned by the belief that technology will profoundly change the asset management industry. Access to technology, demand for transparency, and focus on performance will change the way individuals manage their savings. By combining our leadership in trading technology with BlackRock's investment tools, we are shaping the future of how people invest."

Saxo is only the latest bank to pile into the market, sensing an opportunity to cut costs and take on a new generation of wealth management firms such as Wealthfront, Betterment, Personal Capital, and FutureAdvisor who are already luring away clients with the promise of no-frills, low cost, advisory services.

The industry has also attracted the attention of regulators - the Joint Committee of the three European Supervisory Authorities - EBA, EIOPA and Esma - in December opened up a debate about the risks and benefits of robo-advisors, inviting comment on its discussion paper.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Tech revolution to wipe out 7.1 million jobs over next five years - WEF

Tech revolution to wipe out 7.1 million jobs over next five years - WEF

18 January 2016  |  5702 views  |  2 comments | 16 tweets | 15 linkedin
Rise of the robots

Rise of the robots

15 January 2016  |  8854 views  |  3 comments | 25 tweets | 28 linkedin
BBVA Compass teams up with robo-advisor

BBVA Compass teams up with robo-advisor

13 January 2016  |  5279 views  |  0 comments | 11 tweets | 10 linkedin
Deutsche Bank launches robo-advisor for online investment platform

Deutsche Bank launches robo-advisor for online investment platform

07 December 2015  |  12838 views  |  1 comments | 34 tweets | 33 linkedin
European regulators take a closer look at robo-advisors

European regulators take a closer look at robo-advisors

04 December 2015  |  7229 views  |  0 comments | 8 tweets | 20 linkedin
Robo-advisor MoneyFarm raises EUR16m for UK launch

Robo-advisor MoneyFarm raises EUR16m for UK launch

09 November 2015  |  6639 views  |  0 comments | 22 tweets | 8 linkedin
Robot revolution poised to wipe out millions of jobs - Bank of America

Robot revolution poised to wipe out millions of jobs - Bank of America

06 November 2015  |  8699 views  |  7 comments | 33 tweets | 17 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comFind out moreVisit www.abe-eba.eu

Top topics

Most viewed Most shared
satelliteContactless Bitcoin startup Plutus Tap &am...
9513 views comments | 9 tweets | 4 linkedin
MasterCard agrees £700m VocaLink acquisitionMasterCard agrees £700m VocaLink acqu...
9485 views 14 comments | 33 tweets | 38 linkedin
Apps crush internet for UK banking loginsApps crush internet for UK banking logins
8338 views comments | 19 tweets | 25 linkedin
Telefonica Germany launches Fidor-backed mobile banking serviceTelefonica Germany launches Fidor-backed m...
6446 views comments | 15 tweets | 19 linkedin
hands typing furiouslyHow machine learning can cut costs on tran...
6064 views 0 | 12 tweets | 3 linkedin

Featured job


Brussels (Belgium) or Paris (France)

Find your next job