Tiller Investment, Scalable Capital and Wealthsimple have been rated among the top automated advisers in the UK by F&TRC's Digital Wealth Insights business.
The three businesses scored four out of a possible five hearts by Digital Wealth Insights, which does a month by month look at key players and new organisations, what they offer and how they compare.
Digital Wealth Insights found that Tiller excels in several areas and applauded the fact that their system enabled customers to create tailored risk-graded portfolios using life goals-based financial planning.
In addition, it praised its flexible platform technology that can accommodate third-party investment solutions.
It also found that the client can choose the investment vehicle of their choice from either an Isa, general investment account or a combination of both.
Jason Green, head of Digital Wealth Insights, said: "With the increasing pace of new entrants and new development of wealthtech services, the Digital Wealth Insights reviews and ratings provide a constantly reviewed industry benchmark to inform and guide anyone looking to add a digital wealth proposition to their own service or to invest in the digital and automated advice market.
"This is designed to help wealth managers and advisers, fintech developers and consultants, private equity firms, individual or venture capital investors, as well as anyone who wants simply to understand the state of the market.
| Heart rating | Advised / Non/Advised | Route to market | Investment vehicle |
Tiller Investments | 4 | Advised | B2B / D2C | ISA & GIA |
Exo Investing | 3.75 | Advised or Non-Advised | D2C | ISA & GIA |
Moola
| 2.25 | Non-Advised | D2C | ISA & GIA |
Moneyfarm | 3 | Advised | D2C | ISA, GIA, Pension |
Scalable Capital | 4 | Non-Advised | B2B / D2C | ISA, GIA, Pension |
NatWest Invest | 3 | Advised or Non-Advised | D2C | ISA & GIA |
Wealthsimple | 4 | Advised | D2C | ISA, GIA, Pension |
PK Group | 2.5 | Advised | D2C | ISA, GIA, Pension |
Source: www.digitwealthinsights.com
"Robo-advice services are evolving far faster than the traditional advice market. Most financial services companies are expected to adopt some level of robo or automated financial advice process, because of the efficiencies they offer.
"Choosing or investing in the right partner will be a critical decision for many financial intuitions. This analysis will enable those who monitor the market to keep informed of the latest disruptors, technology and developments."
Digital Wealth Insights (part of F&TRC) explores leading edge developments in the digital wealth, robo advice, automated advice emerging markets.
The service is designed to provide an extensive overview of the market place to enable informed analysis and discussion.
The analysis investigates the key data, essential functionality, core components and principles within each digital advice proposition.
All propositions also receive a ‘heart rating’ ranging from one to five hearts depending on Digital Wealth Insights’ subjective perspective on how the analysts feel about each organisation’s potential to transform the way people manage their money.
Digital Wealth Insights' website currently has reviews more than 40 fintech proposition.
aamina.zafar@ft.com
