Robo-advice  

Adviser launches robo service in wake of virus crisis

Adviser launches robo service in wake of virus crisis

Adviser and investment services company ITI Capital has launched a robo-advice service in a bid to appeal to investors in the wake of the coronavirus pandemic. 

The launch of ITI Investments at the end of July will offer clients the option of communicating with advisers using video conferencing and will also include a discretionary service. 

Rahul Agarwal, managing director at ITI Capital, said: "Despite the societal and economic devastation caused by Covid-19, there will inevitably be some positive opportunity birthed from this global pandemic.

"Proactive investors looking to expand their portfolio during this uncertain time should look no further than seeking professional advice in order to guide them through market turbulence and advise them on undervalued assets."

ITI Capital recently bought the client book of failed wealth manager SVS Securities PLC in a move which meant clients could once again access their share of £240m in funds that had been beyond reach for almost a year.

SVS Securities entered special administration in August 2019 after the Financial Conduct Authority identified "serious concerns" about the way in which the wealth manager was operating. 

The regulator found some of the company's 19,000 clients had paid fees and charges as high as 20 per cent of their total investment.

Speaking with FTAdviser last month Mr Agarwal said the priority remained onboarding the SVS clients and dispersing their assets as soon as possible, with the advice boss stating he appreciated clients had not been able to access their assets for almost a year.

Mr Agarwal said the company was working to "make up for lost time" for clients who had been locked out of their savings and pensions.

Oleg Jelezko, chairman at ITI Capital, said: "We are thrilled to introduce this new development in ITI Capital’s offering, which will propel our services and draw new customers, allowing us to maintain and expand our position as a leading digital trade and wealth management platform.

"With our new services, we will be able to guide, aid and encourage investors to manage and expand their portfolio with more accuracy, availability and insight than ever before, all with the help of our scalable advisory and discretionary services."

rachel.mortimer@ft.com 

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