Robo-advice can be more consistent than human advisers, according to chief executive of Scalable Capital.
Speaking to FTAdviser, Simon Miller said the company's philosophy was to automate parts of the advice process which can be automated.
He said: "It is every bit as consistent, if not more consistent, than what you get from a traditional adviser because wherever we can we codify elements of that process.
"It is very much delivered by the same rulebook [...] so it does align quite closely to the existing propositions out there."
Earlier this year Scalable Capital, which launched in the UK in 2016, launched a low-cost financial advice service with sessions with an adviser provided at a fixed fee of £200 on top of an initial, free consultation.
Mr Miller said: "We were never really against the idea of having humans involved in the process, we have always had support available on email and chat or even people can come into the office.
"So that wasn't really a problem for us but launching the human advice proposition was the quickest way to get something out there to start learning from the clients that we did have coming to us.
"Now we have started to digitise some of those elements, for example the analytics behind whether someone should transfer existing investments to you or not. You can easily analyse a portfolio and make suitable suggestions to that client."
Since its launch Scalable Capital has reached a number of deals with companies such as ING and Siemens to provide its proposition as a business-to-business service.
Mr Miller added that Scalable Capital was open to providing its services to financial advisers as well.
He said: "We want to work with advisers, but we want to work across the whole value chain.
"For us it is about digitising the whole process so we can work with people on the suitability through to the order management through to the asset allocation.
"If advisers come to us wanting tools then I guess that's a little bit different. It is less of an integration, it is more of a 'can you provide a technology piece to us'.
"We absolutely want to work with advisers but we want people to recognise the benefit of technology throughout the process and not see technology as a client acquisition tool, which I think initially people did think of robo-advice as.
"They assumed 'OK, here is a website - an onboarding process. We can use that to increase out client numbers' without really realising that the real benefit is in digitising the whole process."
damian.fantato@ft.com
