With over 35 million users worldwide, Revolut is an app for finance that has debuted its own robo-advisor service in Ireland. Customers may save time and automate investment based on their needs with the latest offering.
With just a few hours of research and ongoing portfolio management, clients may invest through a diversified portfolio with the assistance of Revolut’s robo-advisor.
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Customers who lack time to take an active role and conduct in-depth research, or who have little to no trading expertise, will benefit from this.
The robo-advisor offered by Revolut will provide a completely customised and broad portfolio based on the answers provided by the clients to questionnaires that will determine their financial objectives and risk tolerance, among other things.
Moreover, the robo-advisor will keep an eye on and administers the customer’s portfolio in addition to automatically investing the money that the customer deposits into it in the market.
The minimum initial investment to have access to robo-advisor is €100 ($108.15). It will charge an annual portfolio management fee of 0.75% of the portfolio value per month.
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By GlobalDataUsers can then set up periodic transfers of €10 to their robo-advisor portfolio to fully profit from the technology.
They can expand the size of their portfolio at predetermined times and frequencies through recurring transfers, which helps them prioritise investing on a regular basis and reduces the impact of short-term price volatility.
A robo-advisor’s job is to preserve clients’ risk tolerance and target portfolio allocations by automatically rebalancing their portfolios depending on the performance of the assets in the portfolio and by conducting periodic evaluations.
Rolandas Juteika, head of wealth and trading (EEA) stated: “We are excited to add a Robo-Advisor to our suite of wealth and trading products. We know that many of our customers do not have the time to manage a portfolio or invest in individual securities. In fact, 53% of customers we surveyed last year said they simply don’t know where to start when it comes to investing. Built to make investing more accessible, we want to give our customers the ability to make their money work for them in what we believe will be a tailored and stress-free solution.
We’re now actively working to broaden the range of investment opportunities available through our Robo-Advisor, and to integrate even more financial planning tools.”
