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Robo Advice In The UK and Europe – Revolution or Evolution?

Robo Advice In The UK and Europe – Revolution or Evolution?

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Including: Robo advice, automated financial planning, financial advice, brokerage, fund platforms
Covering: Europe, UK


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Description

The UK and Europe have seen a large number of product launches of robo advice services in the last three years, without yet seeing the type of assets under management which are being achieved in the USA. The Robo Advice in The UK: Revolution or Evolution? report provides strategists, marketers and senior managers with the critical information they need to assess the rapidly developing for automated investment and financial advice. Robo advice is one of the most important trends in the market, and this report gives a comprehensive assessment of the based on discussions with all the leading players globally.

Reasons to Purchase The Report

• Develop strategies based on what robo advice is and what it means in today’s market.
• Choose your approach to the market based on the industry’s emerging business models.
• Plan innovative strategies based on the ‘What Will The Winners Look Like’ section.
• Facilitate decision making on the basis of forecast market data.
• Benchmark performance against key competitors by understanding their market positioning, offerings, portfolios and workflows.
• Identify investment opportunities.
• Target your key markets with detailed market, competitive, regulatory and trend information for the UK market.
• The report supports your internal and external presentations with reliable high quality data, analysis and 50 attractive and informative graphics.

Description

The Automated Financial Advice report covers all the vital information and analysis required to help you enter into or expand in the robo advice market. It is broken into the following sections:
The Executive Summary gives the key take-aways from the report
The ‘What is Robo Advice’ section looks at what defines a robo advice offering, the difference between automated financial advice and automated investment management, and why robo advice is gaining so much media and investment interest.
The ‘Emerging Business Models’ section looks at different approaches being taken by players, the challenges and opportunities they face and suggests some of the short, medium and long term scenario for this growing market.
The ‘What Will the Winners Look Like?’ chapter gives advice on the key success factors in the market, including segmentation, differentiation, customer centricity, gamification and stimulus, virtualisation, and big data.
The ‘Size and Growth of the Global Market’ section looks at the size of the market, its explosive potential and the drivers behind this.
The UK market chapter looks at how at the leading robo advice markets, how they developed, and the unique competitive and regulatory landscape in each geography.
The Appendix includes profiles of a large number of robo advice companies, including an overview of each company and its offering, its market positioning, developments and the customer journey it offers.

 

Additional information
Markets Covered:

robo advice, automated financial planning, financial advice, brokerage, fund platforms

Companies profiled:

Easy Folio, eValue (Investment Solutions), Fintego Managed Depot, Ginmon GmbH, Marie Quantier, MoneyFarm, Nutmeg Savings & Investment Limited, Parmenion (Aberdeen Asset Management), Quirion (Quirin Bank AG), Scalable Capital, True Wealth Inc. vaamo Finanz AG, Wealthify, Wealth Objects Limited, Wealth Wizards, Yomoni

Geographies:

UK (United Kingdom)

Time series:

Current and five years forecast assets under management.

Infographics:

thirty high-quality conceptual and data driven illustrations.

Analysis:

Definitions and segmentations, business models, success factor analysis, market drivers, market background, competitive and regulatory characteristics. Company positioning, developments and workflow analysis.

Research:

The report is based on 25+ interviews with many of the leading players in the global robo advice market. It draws on exhaustive secondary research.

Authors:

The report’s authors draw on over 60 years of collective senior research experience in the financial and technology sectors.

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Table of Contents
Robo Advice: Revolution or Evolution? 2
Table of Contents 6
List of Figures 9
1. Executive Summary 11
1.1 Robo advice is not a new concept, but is gaining a lot of global attention 11
1.2 There are far fewer pure robos than the media would have us believe 11
1.3 Focus is on automated investment management; there are very few automated advice propositions 12
1.4 Early movers built from scratch, but start-ups are now seeking to build partnerships with established players 14
1.5 Low cost automated investments will become the core building block of financial planning 15
1.6 Many of the ‘me too’ automated investment propositions will fall by the wayside unless they continue to develop 15
1.7 The market for automated investment management services will grow significantly, but hybrids will be the dominant model 16
1.8 The addressable market for virtual advice is huge, but very few propositions have come forward to meet this demand 17
2. What is robo advice? 17
2.1 Robo advice: a catch all term for remotely delivered wealth management 17
2.2 Defining ‘robo advice’ 19
2.3 Automated investment management solutions are the dominant model; but how automated are they? 21
2.4 There are only a handful of automated financial planning propositions in the market today 24
2.5 Why is ‘robo advice’ under the spotlight? 27
2.6 Propositions are only as good as the algorithms 31
3. Emerging Business Models 35
3.1 Pure play start-ups have led the charge to date 35
3.2 The cost of acquisition is the elephant in the room for start-ups 36
3.3 Re-focus on the B2B market to drive profitability 37
3.4 Industry stalwarts are now seeing the potential of automation; and have important strategic advantages over the start-ups 39
3.5 Which play will the current incumbents make – build, partner, or buy? 42
3.6 In the B2B space, robo for advisers is nothing new, but some are now embracing the opportunity to expand the reach of their business 45
3.7 Robo advice will place widespread pressure on margins and fees 48
3.8 The impact on the advice market will take longer to play out, and will result in advisers ultimately moving up the advice value chain 50
4. What will the winners look like? 51
4.1 Many of the ‘me too’ automated investment propositions will fall by the wayside unless they continue to develop 51
4.2 Automated investment propositions will need get much better at targeting clearly defined, profitable consumer segments 53
4.3 Differentiation needs to be on a feature that the mass market consumer can understand 54
4.4 A truly customer-centric approach will be required to shift customers from a transactional to an ongoing relationship 56
4.5 Winning propositions will make better use of behavioural economics to enhance the user experience and increase conversion and retention rates 58
4.6 Winning propositions will need to engage consumers in new ways, using visual stimulus to create emotional responses 59
4.7 Gamification can ‘reward’ consumers for building knowledge; virtual reality can allow them to test drive future outcomes in a safe environment 61
4.8 Winning solutions will blend the human touch with automation 63
4.9 Next generation ‘cyborgs’ will shift the boundary between human and robot within five years – think ‘virtual advice’ 67
4.10 New revenue models to reflect what consumers are actually paying for? 69
4.11 Big data, data giants and analytics: The final frontier 70
4.12 Robo 3.0 has the potential to do so much more than personal finance 73
5 Size and Growth of the Global market 75
5.1 Robo advice growth is about to take off 75
5.2 Drivers for global growth 76
5.3 Robo advisors are everywhere, but the US still dominates the global landscape 79
5.4 The US still presents the best market opportunity and will continue to drive global growth 80
5.5 Global forecasts for robo advice 82 6 Country profile: UK 85
6.1 Introduction 85
6.2 Market Background and Development History 85
6.3 Market Size and Growth 89
6.4 Competitive Landscape 94
6.5 Regulatory Framework 98
6.6 Future Prospects 101
7 Appendix: UK and European Company Profiles 103
Easy Folio 105
eValue (Investment Solutions) 115
Fintego Managed Depot 119
Ginmon GmbH 132
Marie Quantier 141
MoneyFarm 154
Nutmeg Savings & Investment Limited 165
Parmenion (Aberdeen Asset Management) 176
Quirion (Quirin Bank AG) 191
Scalable Capital 201
True Wealth Inc. 215
vaamo Finanz AG 225
Wealthify 236
Wealth Objects Limited 246
Wealth Wizards 249
Yomoni 255
Appendix 267
Research Methodology 267
About the Publishers 267
Currencies 268
Research Inquiries 268
The Business Research Company 268
Executive Summary
The robo advice market in the UK is still very much in its infancy. The first UK automated investment management proposition, Nutmeg, was founded in 2011 and launched in 2012, and since then the market has seen a number of launches, with activity increasing significantly in 2016. We have yet to see a large player enter the market, but all the major banks are signalling interest in development and we expect a lot of activity in the second half of 2016 and into 2017. Likewise, 2016 could also be the tipping point for the automated advice market, with a large number of proposition rumoured to be in development. With the market in its infancy, the market will grow quickly as robo advisors become more established as mainstream propositions. Factors needed for robo advisors to take a more meaningful share of the UK market include: More incumbent players launching a robo offering: many other incumbents are known to be closely studying the robo model. Awareness of robo advisors needs to increase: today unprompted awareness remains very low even amongst the most likely adopter groups.
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