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Investec launches much-delayed robo-advisor

The service uses an algorithm to place clients into portfolios which are then actively managed by Investec's core investment managers

Investec launches much-delayed robo-advisor

Investec Wealth & Investment has launched an actively managed robo service for clients with at least £10,000 to invest.

The service, called Click & Invest, has finally been launched having originally been set to come to market in the fourth quarter of 2015, and then in autumn 2016.

It uses an algorithm to place clients into one of five portfolios – defensive, cautious, measured, adventurous and aggressive – after an application process to determine their attitude to risk, capacity to absorb financial losses and their investment goals.

The portfolios are then actively managed Investec’s core investment managers and research team, based on over 300 actively managed funds chosen from the whole of the investment market.

The funds are then assessed and reviewed on a monthly basis with the aim of outperforming the market.

The service will charge an annual management fee of 0.65% on the first £100,000 invested, 0.50% on the next £150,000 invested and 0.35% on funds above £250,000.

Investec said clients can see the funds in their portfolio so they know where their money is invested, and will also receive monthly video updates from their investment managers about how their portfolio is performing and any changes that have been made on their behalf.

Jane Warren, Investec W&I’s head of digital and chief executive of Click & Invest, said: ‘The service is simple, intuitive and transparent, offering clients the convenience and ease of an online service, with the knowledge that their money is being actively managed by our team of experts, not algorithms.’

The launch comes after Wealth Manager revealed this month that two robo firms have shelved plans to launch in the UK.

Wealth Manager understands MyInvest, the online investment manager that was in development stage and was due to launch last year, has now been placed under strategic review.

While Wealth Builder - which had promised a customised portfolio within 15 minutes - has abandoned plans to launch in the UK citing 'a number of similar propositions that are on the market'.

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