London-based wealth management platform Nucoro is targeting the Irish market.
The firm offers client onboarding, portfolio construction, and billing support, among others, for wealth firms.
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Its product suite for retail investors in the UK includes the Exo Investing platform, which leverages artificial intelligence (AI) technology.
Nucoro will now offer the platform to its Irish customers as well.
In announcing its plans for Ireland, Nucoro cited data that unveils that the number of millionaires in Ireland today has surged 32% to 77,984 today from 2013.
The firm believes that Ireland is one of the fastest-growing wealth management sectors in Europe.
The growth is said to have been partly triggered by the rising number of technology and financial firms choosing Ireland as their base in the wake of Brexit. This has, in turn, led to an increase in the number of young investors in the country.
Other factors contributing to the wealth growth in Ireland include rapid growth in the country’s wealthy population, a tough inheritance tax regime, along with a rising pool of inter-generational wealth transfer.
Nucoro COO Nikolai Hack said: “We have had great success in supporting a number of financial services companies with their digital wealth management services, and we are now looking to support companies in Ireland wanting to enhance or expand into this area.
“We believe Ireland’s wealth management sector will enjoy some of the biggest growth in Europe over the next few years, and we are keen to be a part of this.”
