Wealthsimple makes a loss of €2,6m in 2017 – but Isn’t the only one among the independent UK robo-advisors

“[Canadian] robo-advisor posted a €2,6m [£2.3m] loss during 2017”, according to Damian Fantato at FTAdviser.

Wealthsimple launched in the U.K. in September 2017, and according to the statements gathered by FTAdviser, “a result Wealthsimple posted only £696 of revenue”.

Wealthsimple manages over €2,25bn and has over 100 000 clients globally.

In October, Wealthsimple launched pension products in the U.K. market.

Previously, Moneybox and several other independent robo-advisors operating in the U.K. posted losses in 2017, including Nutmeg and Scalable Capital.