After Investec recently took the decision to withdraw its robo-adviser Invest & Click from the market after the venture lost £32m, Tom Ellis assesses how profitably the so-called 'robo-advice' sector as a whole is shaping up.
Philip K. Dick's poignant 1968 sci-fi classic Do Androids Dream of Electric Sheep? was famously the inspiration for the Blade Runner films. If he was writing today, however, might Dick instead be wondering if robo-advisers dream of ever turning a profit? A substantial rummage through the accounts of those inhabiting the UK robo-adviser space has revealed it is clearly a market still very much in its infancy - although that excuse may wear thin for investors and backers before long. While turnover and profit/loss figures are not available for all of the market's robo firms, the account...
To continue reading this article...
Join Investment Week for free
Signup and gain exclusive members-only insights - all free of charge!
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes
