An artificial intelligence-driven online wealth manager backed by senior members of the Rothschild dynasty is exploring the launch of a freemium portfolio management service.
Exo Investing, backed by Ariane and Benjamin de Rothschild, currently offers clients with portfolios of £10,000 or higher access to algorithmic technology which rebalances a portfolio of ETF investments up to as often as daily.
Exo’s chief operating officer Nikolai Hack told Wealth Manager the firm is exploring a freemium model whereby clients, who would typically be millennials without much financial knowledge, could access its portfolio management, as well as financial planning, for free until they reach £10,000.
Hack said: ‘We’re looking at using the same core operating model, but perhaps stripping out some of the features clients who pay for our product have at the moment, and building more of a financial planning suite where we help people get up to £10,000.
‘It may be that we don’t do rebalancing daily, weekly or monthly. It would be a Spotify-type of model, and it could be a very interesting route for us if we’re able to help more people access this market.’
The firm is also in talks with asset managers regarding potential partnerships, which would be similar to Wealthify’s tie-up with Aviva, for example, as well as becoming a white-label robo-adviser for older financial firms with less advanced technology.
Exo Investing’s blackbox tech is supplied by Madrid’s ETS Asset Management, whose founder José Manuel Bolívar also backed the firm's fund raising, alongside Daniel Treves and Hugo Ferreira, heads of Edmond de Rothschild corporate finance subsidiary La Cie Benjamin de Rothschild SA.
Ferreira (pictured) is also chair of Exo Investing.