Robo-adviceJul 16 2018

Robo-adviser focused on B2B business launches

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Robo-adviser focused on B2B business launches

A robo-adviser has launched aiming to offer investors more choice and control over how their money is invested.

Tiller is the brainchild of two former hedge fund managers and aims to offer its services to both businesses and consumers.

For a charge of 0.75 per cent investors will be able to invest in a portfolio of ETFs, but if they pay 0.9 per cent they will be able to invest in active funds or personalise their portfolio by adding themes such as ethical investing or the ageing population.

Ian Cadby, Tiller's chief executive and co-founder, said: "We are professional investors who saw an opportunity to embrace technology rather than technologists who saw an opportunity in the world of wealth management.

"We have developed a fusion of talent, techniques and technology that is a leap forward to the next generation of online wealth management.

"We have a supportive shareholder base, comprising entrepreneurs across financial services, media and technology, as well as a promising pipeline of opportunities with some deals already at an advanced stage."

Mr Cadby said private banks, asset managers and large IFAs would be able to white-label and customise Tiller as well as integrate it into their own infrastructure.

He predicted that three quarters of Tiller's clients would come through business-to-business deals rather than the direct-to-consumer market.

Tiller has a minimum investment of £10,000 and it uses passport recognition technology to help investors set up their accounts, so it claims an account can be set up in as little as 15 minutes.

Tiller also claims to be one of the few online wealth managers which allows investors to identify their risk profile, choose a portfolio and look into its holdings before opening an account.

On top of the portfolio charges, the ETF portfolios have a typical underlying fee of 0.25 per cent and the active ones have an average underlying fee of 0.54 per cent.

Jonathan Wauton, the chief investment officer and co-founder of Tiller, said the platform provides simplified advice.

He said: "Irrespective of whether it is our ETF-only portfolios or blended, we never leave your money to the fate of the markets. We combine intelligent technology and proactive management."

damian.fantato@ft.com