The interest for robo-advice has grown the recent years. As of today, Nordnet’s customers on the Swedish market have access to “Robosave” – independent robo-advice with investments in exchange traded funds, ETF’s, to a low cost. The advice is individual, and is based on, among other things, savings horizon and risk profile.
– Nordnet is making the biggest shift in business model since we started more than 20 years ago. We go from just being a broker where customers are expected to make all decisions on their own, to add tools that will actively guide the savers in their investment decisions. We get a strong total offering with cost-effective stock trading combined with digital discretionary management, said Peter Dahlgren, CEO of Nordnet.
With the launch of Robosave, Nordnet becomes the largest robot advisor in Sweden. To get started, you need a monthly savings of at least SEK 500 and make an initial deposit of at least SEK 5,000. Through a digital form, Nordnet asks a number of questions about, among other things, risk profile and savings amount, and then presents a suggestion for a portfolio in ETF’s. Robosave costs 0.50% per annum. Management fees to fund companies for underlying funds of 0.15-0.23% are added. The service includes a re-balancing that automatically looks over the portfolio, and through purchases and sales ensures that it is in line with the customer’s risk profile.
– Robosave does not look for hot stocks or the perfect market timing. The service will help you build long-term savings by investing systematically in ETF’s with high quality and low cost. Many people think that savings is complex, time consuming and that the choices are difficult. With Robosave, we can offer financial advice that is digital, objective, cost effective and available 24/7, said Peter Dahlgren, CEO of Nordnet.
This is how Robosave works:
1 – Answer questions
The customer answers 12 quick questions, in order for Robosave to understand the customer’s profile and savings goal. Based on the response, the customer will receive an investment proposal to approve.
2 – Start saving
The customer begins with an initial deposit of at least 5,000 SEK to enable Robosave to lay the foundation for the portfolio. Then, a monthly saving is easily set by automatic transfers.
3 – Follow your investments
Robosave begins investing in ETF’s and then manages the portfolio. The customer can make changes to his savings plan at any time, and free of charge without notice terminate the service.