Advertisement
Discussion (9)
Learn how to style your text
Reply
Save
Kenneth Lou
17 Jul 2020
Co-founder at Seedly
I can actually give some insight into this, because we had a recent Robo-Wars episode with 5 CEOs of the robo-advisor comapnies locally. I've found the exact timestamp for you here.
I asked the question quite blatantly: "What happened to Smartly"
To summarise this is what happened:
Smartly got sold to VCG parnters (vietnam private equity company)
Not able to become profitable company
Closed down because not viable any more
If you were a customer of Smartly you would have gotten an email to move your funds over to Stashaway and get a discount
Customers were forced to liquidate their holdings and sell at their positions (because it was too small and didn't make sense to move over)
And therefore re-invest in a new robo-advisor if they want to (many liquidated at a loss)
Conclusion:
Size does matter in this Robo advisor business
Need to ensure that your robo advisor platform has enough funds to survive through whatever downturn
Reply
Save
Write your thoughts
Related Articles
Related Posts
Related Products
4.5
60 Reviews
4.7
1294 Reviews
4.7
658 Reviews
Related Posts
Advertisement
Can I download https://allpcworld.site/ cracked software from the internet such as Microsoft office and adobe and use it for educational and personal use, not for making money