We expect more Banks and Wealth Managers to launch their own platform....question is what the implications are for the Bettermentm, NutMegs and Wealthfronts of this world, if for USD 50 mln these platforms can be build....
Santander UK is considering plans to launch an investment platform next year, aimed at customers from the traditional ‘retail’ to high net worth, a spokesman has confirmed. The platform will be open to direct customers, as well as via an intermediary. A spokesperson for Santander UK said: “Santander recognises that the platform market is growing and we are exploring various options to enter this market in order to deliver services ranging from simple, ‘non-advised’ platforms (where investors make their own decisions about what to buy) through to ‘full advice’ and discretionary services. “It is early in the planning process for this service, but Santander does believe the best way to provide these important services to its customers is through a strategic alliance with a third party.”
