May 16, 2024

Republic of Ireland's first robo-advisor service is launched by Revolut.

February 22, 2024
2Min Reads
69 Views

Recently, the Robo-Advisor service was launched in Ireland by Revolut, a global financial super-app with over 35 million users globally.

The organization wants to make investing easier for its customers. It is well-known for its creative approach to banking and financial services.

The increasing need for easily accessible financial solutions led to the development of the Robo-Advisor. A lot of prospective investors, particularly those with little trading expertise or insufficient time to actively manage their portfolios, find the process of researching and managing assets to be laborious and complicated.

 


Revolut functions as a super-app for finance, providing a broad range of services from cryptocurrency trading to traditional banking. The software makes money management in the fast-paced digital era easier by serving as a one-stop shop for users' financial needs.

 

The goal of the new Robo-Advisor service is to make investing more automated. Customers can have a completely diversified and personalized portfolio constructed for them by providing answers to a series of questions. Then, this portfolio is automatically managed, with investments chosen in accordance with the customer's financial objectives and risk tolerance. The Robo-Advisor requires a minimum investment of EUR 100, and there is an annual management charge equal to 0.75% of the portfolio value.


Customers can set up recurring payments from as little as EUR 10 with the Robo-Advisor's additional features, which enables regular portfolio growth and reduces the impact of market volatility. Additionally, the service does routine checks and automatically rebalances portfolios to make sure they are in line with the customer's investing goals.

 

"We are excited to add a Robo-Advisor to our suite of wealth and trading products," stated Rolandas Juteika, Head of Wealth and Trading (EEA). We are aware that a large portion of our clientele lacks the time necessary to invest in individual securities or manage a portfolio. In fact, when it comes to investing, 53% of the clients we polled last year stated they really don't know where to begin. We hope to enable our clients to make their money work for them in what we think will be a customized and stress-free solution by making investing more approachable.

 

Revolut has demonstrated its dedication to supplying complete financial solutions with the recent extension of its investing services throughout the European Economic Area (EEA). These offers now include shares of European listed firms and the addition of Trading Pro for professional traders. With over 2,200 stocks listed in the US, over 220 in the EU, and 270 ETFs accessible via the app, Revolut is constantly improving its platform to increase accessibility to investing for a wider range of users.

 


Revolut Securities Europe UAB, which is overseen by the Bank of Lithuania, offers investment services throughout the European Economic Area. Revolut promises to make investing simple and effective, but it's crucial for users to understand that there are hazards associated with investing, such as the possibility of losing money and swings in exchange rates.







 

Leave a Comment
logo-img InfyNews

All Rights Reserved © 2024 InfyNews