“We want to attract young people in particular with this move,” he says.
(Photo: Scalable Capital)
Frankfurt The largest digital asset manager in Germany, Scalable Capital, competes with savings banks and Volksbanks. For this reason, the robo-advisor, with managed client assets of 3.6 billion euros, reduced its minimum investment from 10,000 to 1,000 euros at the end of the month.
In addition, it will in future offer savings plans based on strategies with exchange-traded index funds (ETFs) with a risk management system with an investment amount of 20 euros or more per month.
A robo-advisor is an algorithm-based system that gives automatic recommendations for investments and can also implement them.
According to its own statements, Scalable now wants to participate in the boom in fund savings plans, which so far have primarily been sold by savings banks and Volksbanks.
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“We want to attract young people in particular with this move,” says Scalable boss Erik Podzuweit in an interview with Handelsblatt. Because many young professionals could initially invest small sums, if they earned more, they would increase.
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