Robo-adviser launches for 'middle market' clients

Last December Simon Bussy, a consultant at Altus who works with robo-advice firms, told FTAdviser many robo-advisers were spending too much money on acquiring new customers to have a viable business model, and the advertising strategies they have used have been ineffective.

Rosecut, which has Financial Conduct Authority approval, is targeting £1bn in assets under management after its third year of operation.

Michael O’Sullivan, former chief investment officer of Wealth Management at Credit Suisse, and Nick Middleton, previously head of UBS SmartWealth, are on the advisory board.

Ellie Duncan is a freelance journalist