RBS to launch robo-advice service for five million customers

Under NatWest brand

The Royal Bank of Scotland Group is to launch a new robo-advice service for more than five million NatWest customers on Monday.

The service is designed for customers with as little as £500 to invest as a lump sum, for a process fee of £10 and further fees for the investment. It aims to help customers who lack confidence to invest alone but without the high fees otherwise charged for in-depth financial advice such as tax and inheritance planning. The launch comes as other banks such as HSBC prepare to unveil similar services as a means to offer more investment products to customers and increase revenue in the current low interest rate environment, according to the FT. The NatWest service will provide advice,...