Robo-advice  

Embark to launch robo-adviser in D2C push

In March 2021, Just Group's advice arm launched an automated retirement advice service to bridge the advice gap for people with modest pensions and investments.

Then in July, Chancery Lane was created as a pensions robo-adviser targeting savers with pots of over £250,000 and focusing solely on decumulation.

M&G Wealth also planned to develop a low-cost hybrid robo-advice offering.

But a number of robo-advisers have closed their doors as well.

At the beginning of last year (January 28, 2021), Scalable Capital closed its doors to the direct-to-consumer UK wealth market. 

In June, JPMorgan Chase acquired Nutmeg for an undisclosed amount.

Canadian robo-adviser Wealthsimple announced its plan to sell the UK client book it has been growing since 2017 to Moneyfarm, one of its UK rivals, at the end of last year (December 6). 

amy.austin@ft.com

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