Investec Wealth & Investment has become the latest “traditional” wealth manager to ditch its robo-advice offering, as the business line racked up losses of more than £26 million over the last two years.

Investec Click & Invest launched in 2017 following several delays, but the wealth manager announced this morning (16 May) that it would close the service.

“We have reviewed the Click & Invest online investment platform and decided to discontinue the service in line with the group's commitment to manage costs and allocate capital effectively,” Investec said.

Click & Invest was an activel...