The epicenter of robo advice in Europe is London. 15 of the 18 firms registered in the UK are there. In Germany there are more robos (23 firms), but spread all over Germany with highest concentration in Frankfurt (8), Berlin (4), Munich (4). Zurich and Paris account for 4 robo advisors each. Of the 64 only 5 are above 100m, one of them is prittle a portfolio company. So the digital AuM crown in Europe goes to Nutmeg in the UK, who we estimate around €650m in AuM followed by three players who crossed the €100m Euro milestone: CheBanca (Mediobanca group) as well as startup Moneyfarm, both from Italy and Pritle from the Netherlands.
Reason for this is, that trust as well as track record do not build overnight. From decades long experience in the traditional investment management world, we know that a fund typically starts selling once there is minimum of 3 year’s track record. 3 years is ages in the digital world. Hardly any of the current European players have such a long track record. Thus it is not surprising that the assets under management globally are only just above $60bn and the majority was collected by traditional houses in the US (as they already built trust in the past). In Europe (including UK) there are currently 64 robo advice firms rendering or preparing their services – and counting!
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