micobo GmbH | Robo Advisory in Germany Update February 2019

English version

06.02.2019 Quirion with new conditions

Since February and until the end of April 2019, the Robo Advisor Quirion allows investments starting at 5,000 euros (10,000 euros before), whereby savings plans are possible starting at 30 euros per month. Up to an investment of 10,000 euros, the use of the service is free of charge.

Link to provider

Note of the micobo editors: Generally, the competition seems to increase among the various German Robo Advisors. In the recent past, various actions have been taken to enthuse customers for their own service and at the same time to stand out from the competition. These include premiums, sweepstakes, fee reductions, lower minimum investment sums and, in particular, an expansion of the offering to include hybrid shares, the possibility of investing in individual titles as well as theme/age/gender-specific portfolios. As a result, the market is fundamentally moving further away from the offering of purely passive ETF-based portfolios.

06.02.2019 Quirion with positive development

Compared to the previous year, Quirion was able to increase the number of its customers by 110 percent to 5,400. In total, Quirion manages assets of 160 million euros. Investors thus invest an average of around 30,000 euros with the Robo Advisor.

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08.02.2019 Cooperation between Solidvest and VON POLL FINANCE

Solidvest, the digital asset management company of DJE Kapital AG, is now cooperating with VON POLL FINANCE, so that customers have the opportunity to open a portfolio with Robo Advisor in one of the brokerage houses or online. For example, customers who have sold a property (in connection with the real estate company VON POLL IMMOBILIEN) and would like to invest the released liquidity in a diversified portfolio can now do so via an investment in a Solidvest portfolio. Solidvest benefits from new customers and additional assets under management, whereby VON POLL FINANCE can expand its range of services and receive brokerage commissions.

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11.02.2019 VisualVest with new offering of private pension plan

With the offering Vest4Later, the Robo Advisor offers a service that determines a possible pension gap on the basis of various personal data combined with statistical data and recommends an appropriate investment strategy based on that. Both conventional and sustainable funds can be used to save for retirement. The service fee amounts to 0.6 percent of the depot value per year, whereby savings plans are possible and starting from 25 euro per month.

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11.02.2019 The new Robo Asvisor insoro

Insoro is a new Robo Advisor from Cologne, that offers a software-based solution in the form of modular investment advice that can be used by the customer independently. Insoro does not have the license of an asset manager and only acts as a financial investment broker according to §36f GewO. The range of services includes cost optimization, portfolio optimization, monitoring as well as reporting. The most efficient allocations are analyzed from a database of 13,000 ETFs. Based on information provided by the client, a scientifically sound risk classification will be carried out and the optimal investment proposal will be determined and submitted.

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13.02.2019 Smavesto — new Robo Advisor of theSparkasse Bremen

The Sparkasse Bremen now offers its own Robo Advisor called Smavesto. The fee for digital asset management is 1 percent p.a., with savings plans possible starting at 50 euros per month. Alternatively, one-off payments can be made starting from 1.000 euros. The offer is to supplement the service Bremen capital, which has as emphasis on classical investment advice. The new offer is aimed in particular at digital natives and will enable individual investment, with portfolios containing an average of 5 and a maximum of 7 ETFs and ETCs.

The algorithm was developed by GET Capital AG, while the Robo Advisor itself was developed by the niiio Finance Group. Interested parties can currently try out the service with virtual money free of charge. The service can be accessed via the SMAVESTO APP

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11.02.2019 ABN AMRO deploys CIOS-Engine for automated investment advice

The CIOS-Engine was developed by the German fincite GmbH and allows customers a fully automatic and rule-compliant analysis based on individual data for an optimal offer creation. The customer’s key financial figures are to be combined with portfolio management software via the modular software and the intelligent consulting engine. With the digital advisory process, customers can check the extent to which their portfolios comply with ABN AMRO’s investment strategies and request an investment proposal based on the analysis of their portfolio. The implementation of the solution should reduce the computing time for rebalancing by around 99%. It highlights high efficiency, speed and the possibility of increased customer satisfaction and a more comprehensive range of services. A video presenting the engine can be viewed at https://youtu.be/earNPAKNJTE, whereas the service has been live since the end of 2018 and was presented at Finovate in London in February.

20.02.2019 N26 takes N26-Invest from the marrket

Bank N26 discontinues its Robo Advisory offer N26-Invest, which was operated in cooperation with Vaamo. The cooperation between the two companies ends with this termination. However, the service had only been “paused”, a new offer for digital asset management is not planned.

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Note of the micobo editorial staff: The offer N26-Invest was also criticized by the consumer center Baden-Württemberg, whereby high basic costs, hidden costs as well as a general lack of transparency.

21.02.2019 Statistics regarding Robo Advisory

According to a study by Deutsche Bank, the German Robo Advisors managed assets of around 3.8 billion euros at the end of 2018 (equivalent to around 27% of the European market), which corresponds to around 3% of the German ETF market volume. Assets under management have thus increased tenfold since 2016 with further growth of around 200 to 300 million euros per month assumed for 2019. 90 percent of Robo Advisor clients are male and have an income of over 50,000 euros p.a., with individual annual investments amounting to between 1,000 and 1,500 euros.

Link to the study

About micobo GmbH

micobo GmbH is a leading European software company for security token offerings and blockchain software development. micobo offers fully compliant software solutions for security token offerings and advises on the structuring of DLT- and blockchain-based securities.

Kai Lorberg is a consultant at micobo GmbH. You can reach him by e-mail (kl@micobo.com)

Homepage: https://micobo.com

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