Make your money go further for just 25p per day

Robo-wars: Investec axes Click & Invest

Click & Invest tube station advert

If Nutmeg’s increasingly desperate need for cash wasn’t evidence enough, the closure of Click & Invest has proven how hard it is for robo-advisers to make money. These platforms offer relatively low investment management fees compared to traditional financial advisers (although still not as low as simply buying a tracker fund) and are having to spend excessively on marketing to attract new users. The outlook therefore looks pretty bleak.


Investec has decided to close its robo-adviser Click & Invest, just two years after launch. The company has written down £20m of investment in the venture after revealing that “the appetite for investment services such as ours remains low and the market itself is growing at a much slower rate than expected”.

It seems a shame Investec has given up so quickly. In March we conducted a thorough review of the robo-advisers and declared Click & Invest far and away the best of the UK’s offering. At the time we wrote: “The company doesn’t pretend to be as cheap as a passive fund, its focus is on providing added value, which is why the digital questionnaire is more detailed than many of its peers. There is also a lower limit of £2,500 to ensure its customers have enough money to build a sensible portfolio”.

But perhaps therein lies the problem. Click & Invest isn’t as cheap as some of its peers and…

Sign up and read the full article

Register to continue reading this article.

Get FREE access now

Already a member? Login

Have your say

Log in or register to view or add comments.

For access to the top news and insights from the investment world

REGISTER FREE TODAY

Become a Champion Investor for as little as £3.20 per report or get a year's worth of money-making analysis for just £90.

SUBSCRIBE NOW

More Money Management

Busting the myths of the independent financial adviser industry

09/05/2019

Brexit is bad for business, is a delay worse?

Reviewing the robo-advisers

21/03/2019