• Wed. Jun 19th, 2024

Revolut Debuts Robo Advisor Service in Ireland

John Wise

ByJohn Wise

May 25, 2024

Revolut Debuts Robo Advisor Service in Ireland

Revolut, which is a financial super-app used by millions of people across the globe, has recently introduced its Robo advisor service in Ireland. This new offering empowers customers to streamline their investing process by saving time and automating investment decisions tailored to their individual needs.

The Revolut Robo-advisors simplify investing by guiding customers through the creation of a diversified portfolio, eliminating the need for extensive research and ongoing portfolio management.

This product is particularly beneficial for individuals who lack the time for in-depth research or who have limited experience in the world of trading, providing them with a hassle-free way to access the benefits of investing without the complexities typically associated with it.

Simplifying Portfolio Building

The robo advisor by Revolut presents customers with a fully diversified and personalized portfolio tailored to their preferences, including their risk tolerance and financial objectives. By answering a series of questions, customers provide input that enables the robo advisor to craft a portfolio aligned with their unique preferences.

Once customers deposit funds into their portfolio, the robo-advisors take charge, automatically investing the funds in the market. Then, they continuously monitor and manage the portfolio, ensuring alignment with the customer’s goals and adapting to market conditions over time.

In order to access the robo-advisor, customers need a minimum starting investment of EUR 100, making it accessible to a wide range of individuals seeking to kick start their investment journey with Revolut. This low barrier to entry enables more people to benefit from the convenience and expertise offered by the company’s high profile automated investment service.

Will Revolut Charge a Fee for its Robo-Advisors

The robo advisor service will entail an annual portfolio management fee equivalent to 0.75% of the portfolio’s value. To maximize the benefits of the technology, customers have the option to set up recurring transfers starting from EUR 10 into their portfolio. This feature enables customers to systematically increase the size of their portfolio at predefined intervals and frequencies.

By committing to regular investments, customers can mitigate the impact of short-term price volatility and cultivate a disciplined approach to investing over the long term.

Making Investing a Hassle Free Endeavor

Revolut’s Head of Wealth and Trading, Rolandas Juteika expressed enthusiasm about the addition of the Robo-Advisor to the company’s lineup of wealth and trading products. He stated that the company is well aware that a large number of its customers have busy schedules and struggle to manage their portfolios because of the limited free time they have.

Juteika highlighted the findings of a survey conducted last year, revealing that 53% of customers expressed uncertainty or lack of knowledge about where to begin when it comes to investing. This highlights the significance of offering accessible and user-friendly investment solutions like robo advisors, which can empower customers to navigate the markets with convenience.

John Wise

John Wise

John Wise is a seasoned fintech analyst and writer with over a decade of experience in the field. With a Master’s degree in Computer Science from MIT, he specializes in simplifying complex financial technologies for a broad audience. At FinTech Service Reviews, John provides insightful and thorough reviews, helping readers navigate the evolving landscape of financial technology with ease.

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