The recent decision of Investec and UBS to ditch “Click and Invest” and “SmartWealth”, their respective digital or “robo” investment management offerings, provides further evidence of not just the difficulty of persuading UK investors to embrace the new technology but its ability to generate a profit.
There is little evidence to suggest that any UK-based digital investment management offering is making a profit.
Take Nutmeg, for example, the firm that pioneered the concept.
Nutmeg has r...
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