20 September 2017
visit www.avoka.com

Saxo Bank takes robo-advisor route with Blackrock

20 January 2016  |  11006 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  |  7199 views  |  2 comments | 17 tweets | 15 linkedin
Rise of the robots

Rise of the robots

15 January 2016  |  10979 views  |  3 comments | 25 tweets | 28 linkedin
BBVA Compass teams up with robo-advisor

BBVA Compass teams up with robo-advisor

13 January 2016  |  6803 views  |  0 comments | 11 tweets | 11 linkedin
Deutsche Bank launches robo-advisor for online investment platform

Deutsche Bank launches robo-advisor for online investment platform

07 December 2015  |  15166 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  |  8993 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  |  9457 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  |  10896 views  |  7 comments | 33 tweets | 17 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.temenos.comdownload the paper nowvisit www.capgemini.com

Who is commenting?

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
10804 views comments | 24 tweets | 39 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10352 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9174 views comments | 6 tweets | 3 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
7653 views comments | 5 tweets | 4 linkedin
ING moves into digital wealth management with Scalable CapitalING moves into digital wealth management w...
7487 views comments | 14 tweets | 15 linkedin

Featured job

Find your next job