Bank Linth two years ago launched a robo adviser, an offering that the bank says has been a success. Now it wants to attract a wider audience.
Bank Linth Invest, the tool for technology-friendly investors of the Uznach-based bank, will be open to customers who decide to invest an minimum of 50,000 Swiss francs, the company said in a statement today. So far, the robo adviser was restricted to users with 150,000 francs to invest.
Bank Linth, a unit of Liechtenstein’s LLB Group, received more than 400 million francs in assets through the digital offering so far, helped by its good performance, the bank said.
Broadening the Customer Base
The successful launch of the product prompted the bank to reconsider the entry level and to widen its appeal. The change will help the bank reach a new customer segment, Luc Schuurmans, head of investment and private banking, told finews.com: «We have identified demand for wealth management with the generation of heirs for example – hence the lower entry level.»
The customers also get access to a relationship manager, who helps devise an investment profile, a strategy and the expected volume of placement. The solutions in general will contain a majority of cheaper passive funds, supplemented by actively managed funds.
