Automated financial solutions such as RoboAdvice are expected to become the standard for the younger digitally savvy investors. In particular, they are able to offer investment solutions with typically lower cost fees and lower account minimums enabling consumers easier and quicker access to the investment industry.
RoboAdvice is the use by platform providers of an automated, algorithm based sales service where consumers are being sold products without the need for traditional “human” financial advisers.
Owing to this emerging new investor type, RoboAdvice providers need to be aware of the regulatory requirements imposed upon such providers. RoboAdvice providers, where it is in relation to investments or insurance, need to ensure that they make it clear to potential investors the risks entailed in investments and RoboAdvice.
Thistle Initiatives has experience in assisting providers who are looking at accessing this emerging digital market and we know how providers need to navigate the regulatory landscape; either through assisting a firm to become directly authorised with the FCA or through becoming an appointed representative of Resolution Compliance.
We have successfully worked on a number of projects in respect of investments and insurance on either an advisory, non-advisory or discretionary management basis.
Feel free to call us for a no obligation assessment of the best approach for your business