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August 10, 2021updated 07 Jun 2022 11:21am

abrdn buys Nucoro’s AI-driven wealth management platform Exo Investing

abrdn, which was previously known as Standard Life Aberdeen, has finalised a deal to buy AI-driven wealth management platform Exo Investing from Nucoro for an undisclosed sum.

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GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
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The deal, whose financial details are unknown, is expected to be completed in the fourth quarter of the year.

Exo Investing allows users to create a portfolio based on their individual goals, risk profile and preferences.

The customers can choose between a customised, themed, or fully automated approach.

The deal complements abrdn’s existing personal vector capabilities, including open banking insights, simple risk-rated savings, financial advice and now digitally-driven wealth management.

abrdn said the acquisition will enable it to offer 24/7 digital wealth management via an app.

The firm also plans to develop a technology solution for investors, which will be powered by the Nucoro Platform.

abrdn CEO Stephen Bird said: “Exo was the first of its kind to offer a fully automated wealth management platform, leveraging machine learning to feed into portfolio decision-making.

“There is a downward pressure on fees, changing customer expectations and increasing regulatory requirements. It’s important to address these issues by providing a highly-scalable, next-generation service to investors.”

Nucoro CEO Lennart Asshoff remarked that abrdn’s forward-looking digital strategy makes the company both an ideal partner for Nucoro and the ideal home for Exo.

Asshoff commented: “We are delighted to help enable abrdn’s ambition to make investing easier and better for clients.

“We built Exo Investing on the Nucoro Platform to fulfil the vision of democratising wealth management by harnessing the power of cutting-edge investment technologies.”

In 2018, Exo Investing secured private investment from Benjamin and Ariane de Rothschild.

In January last year, Nucoro started offering its platform in Ireland.

Free Report
img

Analyze opportunies within the wealth management market in APAC

GlobalData’s ‘Asia-Pacific Wealth Management: Market Sizing and Opportunities to 2026’ report provides a comprehensive overview of the Asia-Pacific (APAC) wealth management market.
  • The report analyzes the APAC wealth and retail savings and investments markets. This includes affluent market size, both by number of individuals and the value of their liquid assets.
  • The affluent population grew by 5.3% in 2021 and is expected to grow at an AAGR of 4.8% between 2022 and 2026.
  • The value of liquid assets held by the affluent segment surged by 8.4% in 2021, backed by economic recovery. HNW individuals’ financial wealth grew by 12%, while mass affluent individuals’ wealth grew by 6.0%.
  • The report provides an analysis of factors driving liquid asset growth. It is also split into asset classes - equities, mutual funds, deposits, and bonds.
  • The affluent population are more risk-tolerant and invest a significant proportion of their investments in risky assets such as equities, compared to emerging affluent and mass market individuals.
The report also provides data and insights on the size of offshore holding of HNW investors in the APAC region.
by GlobalData
Enter your details here to receive your free Report.

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