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Scalable Capital passes €1 billion AUM

Scalable Capital passes €1 billion AUM

Robo-adviser Scalable Capital has passed €1 billion (£873 million) in assets under management (AUM). 

The firm was launched in 2016 across both the UK and Germany, and entered the advice market in January of this year, while also expanding its operations into Switzerland.

UK chief executive Simon Miller said: 'We’ve grown our assets under management faster than the robo-advice pioneers from the US who started a few years before us and which now manage more than ten billion US dollars.

‘Our rapid growth shows, above all, that there is a real demand for digital wealth management.’

The Blackrock-backed firm doubled its AUM over the past six months, now managing 30,000 clients with an average investment of around £28,000 a head. 

Director Adam French believes the firm's recent success evidences the longevity of interest in digital wealth management solutions.

He added: ‘The market for digital wealth management is currently growing faster than the ETF market did in its early days.

‘We are therefore convinced that the majority of investors will use digital investment solutions in a few years' time.’

News of Scalable’s growth follows Italian robo-adviser Moneyfarm announcing today an investment round of £40 million led by Allianz Asset Management.

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