UK's Equiniti Signs Up "Robo-Advisor" For Outsourcing Service

Tom Burroughes

5 November 2014

UK-based Equiniti, which provides services such as share registration, has signed up the new breed of “robo-advisor” wealth management firm, Money on Toast, as a client for its outsourcing service.

Firms such as Money On Toast, WealthHorizon and Nutmeg are part of a new wave of internet-driven wealth advisory and management firms aiming to tap clients left “orphaned” by the rising tide of regulatory costs, leading some existing wealth managers to increase investment minimums and hike fees.

The firm will use the Equiniti Wealth Solutions service. As a result, Money on Toast will continue to provide all client facing services through its intelligent algorithm-powered service, including its risk profiling and investment recommendation processes, but Equiniti will fulfil all investment administration, including the facilitation of their regular portfolio rebalancing, and provision of technology services.

“Wealth managers should not underestimate the positive impact of outsourcing, not least on the end client,” Charlie Nicholls, founder of Money on Toast, said.

“Further, Equiniti Wealth Solutions is not only suited to our online service. It will also be adopted by our parent company CPN Investment Management, which applies a more traditional wealth management model, in the near future,” he added.