European wealth tech business, Othis, has unveiled its first product on the route to becoming a full-service wealth management firm that serves individuals and families directly.
Evgeny Zasorin, co-founder and CEO of Othis said: “We believe that the typical private banking client is changing. The new generation of high-net-worth individuals is globally connected, digital-native, and not afraid to take risks.”
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Zasorin, who previously led private market investments at an Austria-family office, added: “Our goal is to address the needs of this growing population that seeks an on-demand, personalised, and digital wealth management experience. We believe the industry must evolve with the use of advanced technologies and a revamped pricing model to align with new customer needs.”
Othis’ initial offering focuses on individuals and families with different asset holdings.
Clients no longer have to navigate various bank and brokerage portals because their data is immediately consolidated from all connected accounts.
Moreover, Othis has the capability to handle alternative assets like venture capital that are not managed by conventional financial firms.
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By GlobalDataAll of this data is neatly arranged and provided in a single, user-friendly dashboard that is accessible via mobile and online.
Users will soon be able to share account access with their tax experts, simplifying the flow of information.
In addition to aggregating assets, Othis is developing in-house financial analytics tools that will facilitate multi-asset portfolio quantitative analysis.
Customers will be able to view factor exposures, beta and alpha separation, and genuine diversification throughout their whole portfolio.
Saang Lee, co-founder and CIO of Othis shared: “Whereas off-the-shelf, pre-made solutions offered by in-person advisors were previously the only methods to receive wealth services, we think that technology has developed enough to allow for fine-tuned, hyper-personalised portfolios for all our clients. Artificial intelligence and machine learning allow for cross-asset analysis, across public and private assets, which wasn’t possible before.”
Furthermore, in the coming years, Othis intends to become a full-service, tech-first wealth management firm that assists customers in organising, optimising, and growing their money holistically.
Former fund manager and now Othis’ co-founder and COO, Stefan Haubner commented: “Our growth is driven by a clear mission of empowering personal wealth management for a wider audience than ever before. For us, this means that clients are in the lead and can take full control of their wealth to make optimal decisions in an independent and professional way”.
